|
<br />N
<br />51
<br />51
<br /><0
<br />51
<br />S
<br />.....
<br />CO
<br /><Xl
<br />
<br />p
<br />=-
<br />t
<br />!
<br />
<br /> ~ 2~0> m
<br /> ~ '""-> ~
<br /> c:: n::::E: c:::::> 0 (fJ
<br /> Z <:::::::>
<br />~~ ,.,. '- ~ C> --j 0 :0
<br />C ,.-:l;~ C"_ c: l> r'0 m
<br />~ ~~' :z --j CJ
<br />" =
<br />ncn z -l I'T1 0 J>
<br />~~ 0. - -< C) en
<br /> ~
<br /> 0 ....... C> ..,., 0 Z
<br /> ~ -." r'0 ..,., z
<br /> ti CD ~
<br /> 0 :r:: rrl
<br /> rr1 f \,j )> OJ 0 :D
<br /> rr1 ::3 r ::u c:
<br /> 0 r )> C> s::
<br /> en (f) m
<br /> c..::> :;:w;: ......... ==i
<br /> l> CO
<br /> c.n - "-' :z
<br /> CO (f) CO 0
<br /> (f)
<br />
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />South Locust Branch
<br />3012 S Locust St
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />~
<br />,r \S'-
<br />C!.- c-".;
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $195,000.00.
<br />
<br />THIS DEED OF TRUST is dated January 9, 2009, among O'NEILL WOOD RESOURCES, L.L.C. ("Trustor");
<br />
<br />Equitable Bank, whose address is South Locust Branch, 3012 S Locust St, PO Box 160, Grand Island, NE
<br />
<br />68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />
<br />(Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-0160
<br />
<br />(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 />See Exibit A, which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set
<br />
<br />forth herein.
<br />
<br />The Real Property or its address is commonly known as Rural Route, Grand Island, NE 68803. The Real
<br />
<br />Property tax identification number is 400200651 .
<br />
<br />CROSS.COllATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of either Trustor or Borrower to lender, or anyone or more of them, as well as all claims by lender against Borrower and Trustor
<br />or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety,
<br />accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay 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 Borrower or Trustor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition
<br />to the amounts specified in the Note, all future amounts lender in its discretion may loan to Borrower or Trustor, together with all interest
<br />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 (B) PERFORMANCE OF ANY AND All OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS:
<br />
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti~deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor, including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be 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; (21 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 />
<br />./
<br />
|