|
_ _
<br />~ _~ -
<br />~
<br />p m
<br />~ "'r1
<br />C rn ~ r
<br />~.
<br />~ ~ ~
<br />~
<br />N ~ {"~ Z 7'C ~ te'- --I ~"''~ 1°1'1
<br /> r p
<br />
<br />~ ~ _ ~, © ~' ~ cQ v'
<br /> ~ ~ ' p
<br />N
<br />ad rn 1] r ~ ~
<br />
<br /> ---.+ ~ N
<br />m
<br />.r~r'
<br />...,~.. E--+ a
<br />..~.... „~,~ 2
<br />t~^rii p tr7D
<br /> ~ ~
<br />
<br />. ~T EiYdlt SAr..~k
<br />WHEN REC DED MA TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 1 BO
<br />I F RE ER'S ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $29,000.00. V';
<br />THIS DEED OF TRUST is dated July 23, 2009, among LARRY L TERRY and KAREN F TERRY; Husband & Wife
<br />("Trustor"1; Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand Island, NE
<br />6$$02-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />(Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-0160
<br />(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") IOCated in Hall
<br />County County, State of Nebraska:
<br />Lo# Five 15), Block Twenty-Seven (271, Gilbert's Third Addition to the City of Grand Island, Hall County,
<br />Nebraska.
<br />The Real Property or its address is commonly known as 2020 N HUSTON AVE, GRAND ISLAND, NE
<br />688032750. The Real Property tax identification number is 400135434.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustar's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In additipn, Trustor grants to Lender a Unitvrm 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 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 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 previsions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may 11) remain in possession and control pf the Property;
<br />12) use, operate or manage the Property; and 131 collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in gopd condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance Wkh 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; (2) Trustor has no knowledge pf, 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, Ibl any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about yr from the Property by any prior owners or occupants of the Property, or (c) any actual pr
<br />threatened litigation or claims of any kind by any person relating tv such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, Ia1 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 Ib1 any such activity shall be conducted in compliance with all applicable federal, state, and Ivcal laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lander 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 ar tests made by Lender shall be for Lender's purppses 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 era based on Trustor's due diligence in investigating the Property for Wazardous Substances. Trustor
<br />hereby 11- 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 121 agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, leases, 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 yr 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 indemnity 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 />Nuisance, Waste. Truster shall not cause, conduct pr permit any nuisance nor commit, permit, or suffer any stripping of ar waste on
<br />pr to the Property ar 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 pr rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Truster 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 />
<br />
|