|
<br />
<br /> iIO n ~
<br /> C'~ n m
<br /> i <=> (f) <::)
<br /> oc C> ---j ~
<br /> ~, c:: ::r> f"'\)
<br /> lj (.:.- :z ---j
<br />f\..) I 2 ~~' c= ---j fT1 <::) :D
<br />G m.......~ ~ z -< 0 m
<br />G .." C) C
<br />co oc.n 0 l;
<br />G ""~ -., c.n ...,.., :z: CD
<br />.p.. ~ :r I'Tl Z
<br />co 0 1> co 0
<br />.p.. fTl t :::0 iJ
<br />w fTl ::3 r ;;0 ....c:
<br /> <.:;) r 1>
<br /> (Jl ...... en p:> c:
<br /> 0 f-4 ^ E::
<br /> 1> .....c m
<br /> c..n ................. z:
<br /> w c.n ,w -t
<br /> (f) Z
<br /> 0
<br />
<br />
<br />
<br />
<br />~d Lm/: J;'(I\'e
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank Po tft1-)5 07
<br />West Branch
<br />2009 N. Diers Ave. 2..
<br />Grand Island, NE 6880)
<br />
<br />,f S" 50
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated May 30, 2008, among FRANCES L BALLOU, a Single Person ("Trustor"); Five
<br />
<br />Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE 68803 (referred to below
<br />
<br />sometimes as "Lender" and sometimes as "Beneficiary"); and (referred to below as "Trustee").
<br />
<br />CONVEYANCE AND GRANT. For valuable consideration. Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL
<br />
<br />County, State of Nebraska:
<br />
<br />Lot Seven (7), in Block Three (3), Harrison's Subdivision, in the City of Grand Island, Hall County,
<br />
<br />Nebraska
<br />
<br />The Real Property or its address is commonly known as
<br />68803-2638.
<br />
<br />1502 N KRUSE AVE, GRAND ISLAND, NE
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving line of credit, which
<br />obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time, not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in the Credit Agreement, any temporary overages,
<br />other charges, and any amounts expended or advanced as provided in this paragraph, shall not exceed the Credit Limit es provided in the
<br />Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit
<br />Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement and any intermediate balance.
<br />
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Credit.
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of
<br />Trust remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release
<br />of any Hazardous Substance in violation of any Environmental Laws. Trustor authorizes Lender and its agents to enter upon the
<br />
|