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<br />WHEN RECORDED MAIL T0:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch
<br />890 Allen Dr
<br />Grand Island NE 68803 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated July 29, 2009, among South Pointe Development, LLC; a Nebraska Limited ~
<br />Liability Company ("Trustor"-; Platte Valley State Bank & Trust Company, whose address is PVSB Grand Island °~
<br />Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"1; and Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island,
<br />NE 68801 (referred to below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, fqr 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 rightsl; and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, IthB "Real Property°) located In Hall
<br />County, State of Nebraska:
<br />Lot One 11-, South Pointe Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 2707 S Locust St, Grand Island, NE 68801. The
<br />Real Property tax identification number is 400148382 & 400148455.
<br />FUTURE ADVANCES. In addition to the Nate, this Deed of Trust secures all future advances made by Lender to Borrower whether or not
<br />the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Not®, 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 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 ANp THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IA- 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 TWE 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 pF EVEN
<br />DATE WEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SMALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS PEED OF TRUST IS GIVEN AND
<br />ACCEPTED DN THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la) this Deed of Trust is 9xecutsd at Borrower's request and
<br />not at the request of Lender; Ib- Trustor has the full power, right, and authority to enter into this Desd of Trust and to hypothecate the
<br />Property; Ic- 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 lel
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Barrowsr-.
<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 extant Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement ar 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, Barrcwer shall pay to Lender all Indebtedness
<br />secured by this Deed of 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 />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 />Possession and Use. Until the occurrence of an Event of Default, Trustor may It- remain in possession and control of the Property;
<br />12- use, operate or manage the Property; and 13- 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 />Compllance With Environmental Laws. Trustor represents and warrants to Lender that: 11- During the period pf 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 no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lander in writing, (a) any breach or violation of any
<br />Environmental Laws, Ib- any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or Pram the Property by any prior owners ar occupants of the Property, or Ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and j3- Except as previously disclosed to and
<br />acknowledged by Lender in writing, la) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of ar 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 />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 7rustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Desd 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 parson. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />
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