|
~w
<br />~~ p
<br />
<br />N ~_ {"- Z
<br />~~ = ~ aN
<br />~~ ~ ~
<br />
<br />o~
<br />WHEN ii~~C)RDEDMAIL TO
<br />
<br /> ca cr> Z
<br />Z ~ ~ ~ ~ ~ t~ ,~
<br />rn tJ! ~ ~ ~,
<br />~' ~ ~
<br />
<br />n
<br />~
<br />C~ ^Fr1
<br />~ ~ ~;
<br /> n ` C5 ~ F-~ A
<br />
<br />
<br /> ~ ` ~ ~ ~' ~
<br />
<br />~ ~' r
<br />a w C
<br />Q E`-' n
<br />c
<br />• c C'~D ~
<br /> rv u ~ f--,' Z
<br /> C~ cn ~p ~
<br /> z
<br /> 0
<br />Equitable Bank
<br />Diers Avenue Branch / ~ O
<br />PO Box 160
<br />Grand Island, NE 68802-U160 ~ FOR RECORDER'S USA ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $28,QOD.OD.
<br />THIS DEED OF TRUST is dated May 26, 2010, among EDWARD H CONROY, whose address is 2526 PIONEER
<br />BLVD, GRAND ISLAND, NE 6$$017344 and KIM R CONROY, whose address is 2526 PIONEER BLVD,
<br />GRAND ISLAND, NE 688017344; HUSBAND AND WIFE ("Trustor"-; f;qujtable Bank, whose address is Diers
<br />Avenue Branch, PO Box 16D, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Equitable Bank (Grand Island Regionl, whose address is 113-115 N Locust
<br />St; PO Box 160, Grand Island, NE 68802-0160 (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 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") located in HALL
<br />County, State of Nebraska:
<br />See SEE ATTACHED "EXHIBIT A", which is attached to this Deed of Trust and made a part of this Deed of
<br />Trus# as if fully set forth herein.
<br />The Real Property or its address is commonly known as 2526 PIONEER BLVD, GRAND ISLAND, NE
<br />688017344. The Real Property #ax identification number is 400076772.
<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 such balance at a fixed or variable rate ar surn as provided in the Credit Agreement, any tornporary overages,
<br />other charges, and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Gredit Limit as provided in the Gredit Agreement
<br />and any intermediate balance.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this peed 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 Gnmmercial
<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 EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST, THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 Gredit
<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. Un[il [he occurrence of an Event of Default, Trustor may 11- remain in possession and control of the Property;
<br />121 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 />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 />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la1 any breach or violation of any
<br />Environmental Laws, (b) 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 prier 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, lal 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 (b) 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 he
<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, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Peed 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 />
<br />
|