|
<br />o
<br />
<br /> t&~...:> m
<br /> (;"..;.~..:;,) 0 <.0 ~
<br /> (.;:::> C)
<br /> = 0 -j
<br /> '}~ c: )> N :D
<br />~l ~', ----' z -j m
<br />c~.: -j rr1 D C
<br />fT, .\-, C)
<br /> --< C' :t:-
<br />,,-, . 5,.."- I-' '1 C)
<br />o ""t 0 en
<br />...,., w '1 Z co Z
<br />0 N. ::r: fTl !!l
<br />'-.~~\ C:.J C)
<br />fl" ~ ., -0 )>
<br />('1'1 ::3 I ~U m :D
<br />c::' r ,,"" C
<br />(.I) K I--' (.I) CD s:
<br /> N ?'; m
<br /> (' P- ee ::j
<br /> c...n ---- ----
<br /> 0) (I) -I:: 2:
<br /> (/l 0
<br /> 3 5~60
<br />
<br />J, ~ (! ~ t; .... i \
<br />.~.
<br />
<br />r,
<br />.. .".
<br />
<br />,.,
<br />m
<br />~
<br />Z
<br />o
<br />en
<br />..
<br />
<br />n~
<br />~Ul
<br />n;:J:
<br />~
<br />.~
<br />
<br />I'\,)
<br />s
<br />s
<br />ex>
<br />s
<br />0'>
<br /><0
<br />ex>
<br />4=>>
<br />
<br />n
<br />~R
<br />~:z:
<br />
<br />,.
<br />/
<br />
<br />~/o
<br />WHEN RECORDED MAil TO:
<br />CORNERSTONE BANK
<br />Grand Island Main Facility
<br />810 North Diers Avenue
<br />P.O. 80x 1074
<br />Grand Island. NE 68802-1074
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />
<br />THIS DEED OF TRUST is dated August 8, 2008, among Christopher P Meister and Natalie H Meister; Husband
<br />
<br />and Wife ("Trustor"); CORNERSTONE BANK, whose address is Grand Island Main Facility, 810 North Diers
<br />
<br />Avenue, P.O. Box 1074, Grand Island, NE 68802.1074 (referred to below sometimes as "lender" and
<br />
<br />sometimes as "Beneficiary"); and CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE
<br />
<br />68467 (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 Two (2), Paradise lake Estates Third Subdivision, Hall County, Nebraska
<br />
<br />The Real Property or its address is commonly known as 1304 S Gunbarrel Rd, Grand Island, NE 68801.9050.
<br />
<br />The Real Property tax identification number is 400389681 .
<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 IB) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF
<br />RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY. IS ALSO GIVEN TO SECURE ANY AND All OF
<br />TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION lOAN AGREEMENT. OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SHAll ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE 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 />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />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 />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under. about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing. (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use. generate. manufacture, store. treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws. regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by lender shall be for lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1 ) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or sutter resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage. disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property. whether or not the same was or should have
<br />
<br />t;/\
<br />r~
<br />
<br />-.....
<br />
|