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,.~ ~, <br /> <br /> ' n m <br />~~ <br />N ~ <br />_ <br />,..~._. <br />C7 Cn <br /> <br />~ ~ <br />~ ~ <br />c~ <br />~ ~ ~] <br />~ ~ <br />~ ~ ~ ~ <br />.. ~ <br />m ~ <br />~ ,,,.f rn <br />O <br /> ~ ~ <br />~ ~J <br />m <br />- = w ~ ~. W ~ - F--~ C <br /> •i <br />'~ <br />""" ~ z <br /> ~ <br />r <br />.~ <br /> rn -p~ b cro Q <br />~ m r°- ~o <br /> ~ ~ <br /> c~] C~ <br /> <br /> <br /> 1--+ ~ CAD <br /> V <br />WWEN RECORDED MAIL TO: <br />Platte Valley State Bank & Trust Company <br />PVSB Main Branch <br />2223 2nd Ave <br />Kearne NE 68848 FOR RECORDER' USE ONLY <br />DEFD OF TRUST <br />TW15 DEED OF TRUST is dated March 30, 2010, among Kershner Properties, LLC, whose address is 4111 4th (-' n <br />Avenue, Suite 36, Kearney, NE 68845 ("Trustor"1; Platte Valley State Bank & Trust Company, whose address ~ <br />is PVSB Main Branch, 2223 2nd Ave, Kearney, NE 68848 (referred to below sometimes as "Lender" and <br />sometimes as "Beneficiary"1; and Platte Valley State Bank & Trust Company, whose address is PO Box 430, <br />Kearney, NE 68848-0430 (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 />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, (the "Real Property") located in Wall <br />County, State of Nebraska: <br />2nd Amended Lot Four 14-, Block Nine 191, Continental Gardens an addition to the City of Grand Island, Wall <br />County, Nebraska <br />The Real Property or its address is commonly known as 2325 North Webb Road, Grand Island, NE 68803. <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 Nate, 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 70 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 peed of Trust, Trustor shall pay to Lender all amounts secured 6y <br />this Deed of Trust as they become dus, and shall strictly and in a timely manner perform all of Trustnr'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 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 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; 12- Trustor has no knowledge of, ar 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, Ib1 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 gwners 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 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 6e for Lender's purposes only and shall nut ba <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 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, penalties, and expenses which Lender may directly or indirectly sustain pr 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. 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, 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 />