|
<br />(~"~ (!(~P' p"
<br />
<br />, i.
<br />
<br />10
<br />m
<br />."
<br />c:
<br />Z
<br />~nc
<br />.," ~ ~
<br />~:z:
<br />
<br />n~
<br />~Ul
<br />n~
<br />7\i;
<br />
<br />~
<br />C)
<br />
<br /> :-~~,,. m
<br /> c::::.> () (f) ~
<br /> ,,=
<br /> ":.i.. <:= 0 --l 0
<br /> c= ::t>
<br /> r \ '. = :z --l N :xJ
<br />..X) ~ ", C:~ IT1
<br />,'"Tl ~,~. --i --l rrl CJ CJ
<br />C).. ;;:"- -< 0 )::-
<br />o "'\- N 0 "'T1 CJ en
<br />...,.., c.o ----cJ -:~
<br /> ....{ CD Z
<br />C) r ::r:: Pi en
<br />Pl -0 :!-..,.. U:.l CJ iJ
<br />r'T1 :3 r- :::lJ
<br />0 r l> CD C
<br />(f) Ul s:::
<br /> 0 f--' ;:0::: CJ m
<br /> ::t> -..J ~
<br /> r0 '"-'. '"-'
<br /> 0 (J) f'\) z
<br /> (J) 0
<br />
<br />I\.J
<br />S
<br />S
<br />(Xl
<br />S
<br />c.o
<br />S
<br />-..J
<br />I\.J
<br />
<br />,.~:;~;:', ~..:
<br />
<br />"------
<br />
<br />WHEN RECORDED MAil TO:
<br />Exchange Bank
<br />P.O. Box Mes-N3
<br />~14 b1l811rrll
<br />Ei:bl!..:.... N[ 68810 (....-o..rod."E::.\~ Is3"lO-;;J.
<br />
<br />31-DO
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />CORRECTIVE
<br />
<br />correcR~~IRH~6709485
<br />THIS DEED OF TRUST is dated November 1, 2007, among O'Connor Properties, 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 />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 />County, State of Nebraska:
<br />
<br />lots Ten (10) and Eleven (11), BO$selman Second Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska. Excepting a certain tract more particularly described in Warranty Deed recorded as Document
<br />No. 200610537.
<br />
<br />The Real Property or its address is commonly known as 3610 W Capital Avenue, Grand Island, NE 68803.
<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 (AI PAYMENT OF THE INDEBTEDNESS AND (BI 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 Default, Trustor may (1) remain in possession and control of the Property; (2) use, operate or manage
<br />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 Environmentlll 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 (cl any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (31 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 (21 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 suffer 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 />been known to Trustor. The provisions of this section of the Deed of Trust. including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Property. whether by foreclosure or otherwise.
<br />
<br />Nuisance. Waste. Trustor shall not cause. conduct or permit any nuisance nor commit. permit, or suffer any stripping of or waste on
<br />or to the .Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber. minerals (including oil and gas). coal, clay, scoria. soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />
|