|
C> v''
<br />o
<br />M
<br />C D
<br />N
<br />-+ M
<br />o
<br />< p
<br />O
<br />S
<br />D
<br />w
<br />'
<br />(-
<br />-n
<br />C
<br />o
<br />CO
<br />M
<br />CA
<br />D
<br />fV
<br />Z
<br />�S
<br />D
<br />N
<br />rn
<br />=
<br />c� �
<br />rV
<br />C)
<br />yl
<br />o
<br />M
<br />a
<br />a
<br />N
<br />C> v''
<br />o
<br />o —;
<br />C D
<br />N
<br />-+ M
<br />o
<br />< p
<br />O
<br />c-n
<br />w
<br />o
<br />(-
<br />r n
<br />o
<br />CO
<br />Cn
<br />D
<br />fV
<br />[let. Env. � tyvi w Cn
<br />WHEN RECORDED MAIL TO:
<br />rive Points. Bank
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island NE 68803 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $120,000.00.
<br />THIS DEED OF TRUST is dated January 13, 2005, among MICHAEL J WESTERBY and MANDY WESTERBY,
<br />HUSBAND AND WIFE ( "Trustor "); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave.,
<br />Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and Five
<br />Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802 -1507 (referred to below as "Trustee ").
<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 />Lot One (1) in Janisch Subdivision, City of Grand Is land, Hall County, Nebraska, excepting a certain tract
<br />more particularly described in Warranty Deed recorded as Document No. 200316341
<br />The Real Property or its address is commonly known as 1403 SOUTH LOCUST STREET, GRAND ISLAND, NE.
<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; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $120,000.00.
<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 />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 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 />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 />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 />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 />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 />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 />rn
<br />�i-
<br />O
<br />4
<br />
|