|
<br />
<br />
<br />
<br /> rv M C~
<br />
<br /> m can rr, C= a
<br /> c~,
<br /> rn 4 c~
<br /> s r~ s M to
<br /> r~ rn ' yr czt
<br /> r
<br /> CZ rv rn
<br /> sue: Co • co --I
<br /> ° tn ° O
<br /> WHEN RECORDED MAIL TO:
<br /> Five Points Bank
<br /> West Branch
<br /> 2009 N. Diers Ave.
<br /> Grand Is1a~E
<br /> _AL _68803 FOR RECORDER'S USE ONLY
<br /> FIVE POINTS BLINK
<br /> CONSTRUCTION DEED OF TRUST
<br /> THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br /> WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br /> THIS DEED OF TRUST is dated April 2, 2010, among BRIAN A MUSTION and ANGELA S MUSTION;
<br /> HUSBAND AND WIFE ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave.,
<br /> Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five
<br /> Points Bank, whose address is P,0 Box 1507, Grand Island, NE 68802-1507 (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, ail, gas, geothermal and similar matters, (the "Real Property") located in HALL
<br /> County, State of Nebraska:
<br /> LOT NINE (9), IN BLOCK ONE (1), PONDEROSA LAKE ESTATES FOURTH SUBDIVISION, AN ADDITION TO
<br /> THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br /> The Real Property or its address is commonly known as 332 PONDEROSA DR, GRAND ISLAND, NE 68803.
<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 (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 /> CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br /> Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 /> (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: (1) 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 of, or reason to believe
<br />
|