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<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 LaBarre
<br />Gibbon. NE 68840
<br />
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<br />THIS DEED OF TRUST is dated June 19, 2008, among SOUTHEAST CROSSINGS, LLC, A Nebraska Limited ~
<br />Liability Company ("Trustor"); Exchange Bank, whose address is P.O, Box 760, #14 LaBarre, Gibbon, NE "( ~
<br />68840 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Exchange Bank, whose -,
<br />address is P.O. Box 5793. Grand Island, NE 68802 (referred to below as "Trustee").
<br />
<br />DEED OF TRUST
<br />
<br />CONVEYANCE AND GRANT. For valullble 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 riJ:lhts, royalties, and profits relatinlj to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL
<br />County, State of Nebraska:
<br />
<br />A TRACT OF LAND LOCATED IN SECTION TWENTY-SEVEN (27), TOWNSHIP ELEVEN (11) NORTH,
<br />RANGE NINE (9) WEST OF THE 6TH PM, HALL COUNTY, NEBRASKA, COMMEMCING AT A POINT
<br />WHICH IS 525 FEET NORTH AND 33 FEET EAST OF THE QUARTER SECTION CORNER BETWEEN
<br />SECTIONS TWENTY-SEVEN (27) AND TWENTY-EIGHT (28) IN TOWNSHIP ELEVEN (11) NORTH, RANGE
<br />NINE (9) WEST OF THE 6TH PM RUNNING THENCE NORTH 100 FEET ALONG A LINE PARALLEL TO AND
<br />33 FEET EAST OF THE SECTION LINE BETWEEN SECTIONS TWENTY-SEVEN (27) AND TWENTY-EIGHT
<br />(28), THENCE EASTERLY AT RIGHT ANGLES A DISTANCE OF 361.5 FEET. THENCE SOUTHERLY AT
<br />RIGHT ANLES A DISTANCE OF 247.5 FEET; THENCE WESTERLY AT RIGHT ANGLES TO THE
<br />SOUTHEASTERLY CORNER OF THE TRACT CONVEYED BY THE GRANTOR THERIN NAMED ON THE 6TH
<br />DAY OF MAY 1930 TO R.I. MERRICK, WHICH DEED IS RECORDED AT PAGE 627, IN BOOK 69. FROM
<br />DEED RECORDS IN THE OFFICE OF REGISTER OF DEEDS, HALL COUNTY, NEBRASKA THENCE
<br />NORTHERLY ALONG EAST LINE OF SAID TRACT SO CONVEYED TO SAID MERRICK TO THE
<br />NORTHEASTERLY CORNER THEREOF, THENCE WESTERLY ALONG THE NORHERLY LINE OF SAID TRACT
<br />SO CONVEYED BY GRANTOR TO THE SAID MERRICK TO THE PLACE OF BEGINNING, EXCEPTING A
<br />TRACT OF LAND TO THE CITY OF GRAND ISLAND, NEBRASKA MORE PARTICULARLY DESCRIBED IN
<br />DEED RECORDED AS DOCUMENT NO. 200008052.
<br />
<br />The Real Property or its address is commonly known as 2623 SOUTH LOCUST STREET, GRAND ISLAND, NE
<br />68801.
<br />
<br />CROSS.COLLATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or anyone or more of them, as well as all claims by Lender against Trustor or anyone or more of them,
<br />whether now existing or hereafter arising. whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br />such amounts may be or hereafter may become otherwise unenforceable.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically. without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon.
<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 (8) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />
<br />PAYMENT 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 Note, this
<br />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 tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />
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