|
~..
<br />~~
<br />w~
<br />
<br />~
<br />
<br />~}
<br />
<br />
<br />~
<br />
<br />m
<br />~
<br />Iv ~^ ~ ~ ~ 171
<br />n ,~
<br />~
<br />~ C A
<br />~ ~
<br />rv
<br />~ ~ ~
<br />{ 1 0 ~ ~,
<br />m C7 ~
<br />rn y © 1~l
<br />~ ~ {,/ ~ ~ to ~ o ~ 1--~ ,,
<br />~
<br />~ ~] p
<br /> ~
<br /> ~
<br />V ~ ` `_ to ~ A C1J © Z
<br />
<br /> ~ ~ ~ ~ ~
<br /> ~~ ~ z
<br /> G„
<br />
<br />e~
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#74 LaBarre
<br />Gibbon. NE 68840 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 $128,218.45.
<br />THIS DEED OF TRUST is dated August 12, 2009, among Lucas L Mowrey and Nicole L Mowrey, Husband and
<br />Wife as Joint Tenants ("Trustor"1; Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE
<br />6$840 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"1; and Exchange Bank, whose
<br />address is P.O. Box 5793, Grand Island, NE 68$02 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights-; and all other rights, royalties, and profits relating$ to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "'Real Property"') IdCated in HALL
<br />County, State of Nebraska:
<br />Lot Nine (9), Capital Heights Seventh Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 4215 ARIZONA AVENUE, GRAND ISLAND, NE
<br />68803.
<br />Trustor presently assigns to Lender (else 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 11- 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 good 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 ne 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 na 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, Ibl any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance an, under, about or from the Property by any prior owners or occupants of the Property, or Ic1 any actual or
<br />threatened litigation or 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, la- 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 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 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 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 person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous 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, losses, liabilities, damages, penelties,..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 or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. T,,he provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and recanveyance 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. Trustor shall npt cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or 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 or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor 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 />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at alt reasonable times to
<br />
<br />
|