|
.~. ~ r~ ~ ~ ~, u, z
<br />
<br />~~ c ,n = ~.
<br />~ ~.. ~ ,~ rv al:~
<br /> v '~ "-' v
<br /> e n ~ _
<br />~ ~ c~
<br />t;7 ~ ~~ ~ ~ o ~ ~ Gp ~
<br />_
<br />CO ~^^ ~ _ ~ C7] ~~ ~ [.C7
<br />~ +~ rT1 'll
<br />
<br />~
<br />rr~
<br />p A [i7
<br />r"' '3J
<br />Q ~
<br />07 ° ~ r xY Ca0 ~
<br />~~
<br />j r f"
<br />~
<br /> ' ~
<br />
<br /> ~, 2
<br />~ ~ ~ I...a
<br />
<br />T~~r>rluv~ ~CFl i t+d
<br />WHEN RECORDED M IL TO:
<br />Five Points Bank po gpX ~So7 r~S So
<br />West Branch ~ ~~Q ~
<br />2009 N. Diers Ave.
<br />ran I 1 nd NE 6$$03 FOR REC RDER'S USE ONLY
<br />i~1VE PDIN~S ~AIVK
<br />DEFD OF TRUST
<br />THIS DEED OF TRUST is dated October 30, 2009, among MICHELLE L SETLIK and JEFFERY D SETLIK, whose
<br />address is 3008 SUNFLOWER DR, GRAND ISLAND, NE 68801-8777 ("Trustor"1; Five Points Bank, whose
<br />address is West Branch, 2009 N. Diers Ave., Grand Island, NE 68803 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary"); and Five Poin#s Bank, whose address is P.O Box 1507, Grand
<br />Island, NE 68802-1507 (referred to below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lander 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 relatin to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") Ipca#e~ In HALL
<br />County, State of Nebraska:
<br />Lot Twelve (12), Meadow Lane Third Subdivision, Mall County, Nebraska.
<br />The Real Property or its address is commonly known as 3008 SUNFLOWER DR, GRAND ISLAND, NE
<br />68801-8777.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving line of credit, which
<br />obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at any one time, not
<br />including finance charges on suoh balance at a fixed or variable rate ar sum as provided in the Credit Agreement, any temporary overages,
<br />pthar charges, and any amounts expended or advanced as provided in this paragraph, shall not exceed the Credit Limit as provided in the
<br />Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit
<br />Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement and any intermediate balance.
<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 IAl PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER 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 Credit
<br />Agreement, this 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 111 remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and 131 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 />
|