|
~~
<br />~~.
<br />~,
<br />N -
<br />-_ Z
<br />n d
<br />~
<br />~~
<br />rn ~ r„
<br />N
<br />~ ~2
<br />as
<br />rn
<br />~~
<br />..
<br />~~
<br />....r...,....
<br />
<br />,
<br />
<br /> ~' ~.cn a
<br />_ ~ ~ ~ rv ~
<br /> ~ ~ -~
<br />~ ~ ~ ~ a
<br />
<br /> -n ~ Ct~ 2
<br />
<br />v ~ ~ ~
<br /> ~ ~ ~ ~ ~
<br /> ~ ~ ~ ~
<br />4 --~ ~ 2
<br /> ~i
<br />cx~ -i
<br /> ~.
<br />'~ErEn-J ~ !2 E N E ~i
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />North Locust Branch
<br />173-775 N Locust St
<br />PO Box 7 60 `' -
<br />Gr d Islan 688 2-0 60 FOR RECORDER'S U E ONLY
<br />DEED OF TRUST ~~•
<br />MAXIMUM LIEN. The lien of;this Deed of Trust shall not exceed at any one time $25,172,00. ~ ,
<br />THIS DEED OF TRUST is dated August 5, 2009, among J & B Rentals, L.L.C. ("Trustor"-; Equitable Bank,
<br />whose address is North Locwst Branch, 113-115 N Locust St, PO Bax 160, Grand Island, NE fi8802-01fi0
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank (Grand Island
<br />Regionl, whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-01fi0 (referred to
<br />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, oii, gas, geothermal and similar matters, (the °Real Property") located In Hall
<br />County, State of Nebraska:
<br />of the East Fourteen (14) Feet
<br />The North Thirty Five (35) Feet of Lot One 11) and the North Thirty Five (35) Feet~f Lot Two 12), Block
<br />Twelve (12), in Arnold and Abbott's Addition to the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 322 N. Greenwich, Grand Island, NE fi8801. The
<br />Real Property tax identification number is .40000925p. -
<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.
<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 IA1 PAYMENT OF THE INDEBTEDNESS AND IB) 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. E;ccept as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this ^ead of Trust as they become dun, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this
<br />heed 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 />121 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 />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; 121 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, la1 any breach ar 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 from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent ar 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 Trustar'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 far 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 111 releases and waives any future claims against Lender for indemnity or contribution in the event Truster 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, 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 or interest in the Property, whether ar 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 indemnify 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. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, ar 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, Tru$kor will not lremove, or grant to
<br />
|