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<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch
<br />870 Allen Dr
<br />
<br />. rand Island, NE 68803 ___ ,,,,,,, _, _R RECORDER'S
<br />FO.,,,,.,__ USE ONLY
<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 />THIS DEED OF TRUST is dated July 15, 2009, among Erives Enterprises whose address is 120 W 3rd St; `~,,,, ~
<br />Grand Island, NE 68$01 ("Trustor"1; Platte Valley State Bank & Trust Company, whose address is PVSB
<br />Grand Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Platte Valley State Bank & Trust, Co. Inc., whose address is PO Box 430,
<br />Kearney, NE 68848-0430 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. Por 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 Hundred Twenty-Nine (1291, LARUE Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />The Real Property ar its address is commonly known as 1004 Sagewood Ave, Grand Island, NE 68803.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whether pr not
<br />the advances are made pursuant to a commitment. Specifically, without limitation, this Deed pf Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<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 Prcperty 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 />TMIS 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, 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 />BORROWER'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN BORROWER 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 pF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<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; Ibl Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; Ic1 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 Truster 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 Ie1
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrowerl.
<br />TRUSTOR'S WAIVERS. Truster 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by this Deed pf Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />this Deed of Trust, and the Related Documents.
<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 />POSSESSION AND MAINTENANCE pF 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 />Possession and Use. Until the occurrence pf an Event of Default, Trustor may 11- remain in possession and control of the Property;
<br />121 use, operate or manage the Property; and 131 collect the Rents from the Property.
<br />Duty to Maintain. Trustor shalt maintain the Prpperty 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: 11) 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; 12- Trustor has np knowledge of, or reason tp believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la1 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 lc- any actual or
<br />threatened litigation pr claims of any kind by any person relating to such matters; and 13- Except as previously disclosed to and
<br />acknowledged by Lender in writing, lal neither Trustor nor any tenant, contractor, agent or other authorized user pf 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 Ib) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />
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