|
-'~ m
<br />
<br /> ~ ~.' ° --~
<br />~ ~
<br />N
<br />
<br />
<br /> ~
<br />~ ~ . ~-~ ~ ~ en ~ ,~, ~ o ~ cn
<br /> q c~
<br />
<br /> '
<br />w ~ ~ ~ CI'1 ~
<br />wrwrrrr~ ,;,~
<br />;r ~"• ~ r` Z~ C
<br />wwwrr~
<br />~ t .~
<br />"~ Q
<br />~ ~
<br />~ ~ C~
<br />
<br />'.
<br />Q~ ~
<br />~
<br />W
<br />2
<br />
<br />
<br />
<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank ~ ~ ~ )1
<br />P.O. Box 7B0 V
<br />#14 LaBarre
<br />Gibbon, NE 68840 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated July 20, 2010, among DENNY JOE WATKINS and BONEITA P WATKINS,
<br />HUSBAND AND WIFE, AS JOINT TENANTS AND NOT AS TENANTS IN COMMON ("Trustor"); Exchange Bank,
<br />whose address is P.O. Box 700, #74 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender"
<br />and sometimes as "Beneficiary"-; and EXCHANGE BANK, whose address is 1204 ALLEN DR / PO BOX 5793,
<br />GRAND ISLAND, NE 6$$02 (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 relatin to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") 14Cate~ in HALL
<br />County, State of Nebraska:
<br />LOTS NINE 19- AND TEN (10-, BLOCK ONE (1-, CUNNINGHAM SUBDIVISION, AN ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA, AND PART OF A VACATED ALLEY AS SHOWN IN
<br />ORDINANCE NO. 6621 RECORDED AS DOCUMENT NO. 80-005145.
<br />The Real Property or its address is commonly known as 2422 - 2424 W 13TH ST, GRAND ISLAND, NE
<br />08803. The Real Property tax identification number is 400039818.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br />such amounts may be or hereafter may become otherwise unenforceable.
<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 TWE SECURITY INTERE5T IN THE RENTS AND PERSONAL
<br />PROPERTY, 15 GIVEN TO SECURE IAI PAYMENT OF TWE INDEBTEDNESS AND IBI PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND TWIS DEED OF TRUST. THIS DEED OF TRUST I5 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 duo, 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 />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 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: (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; 12- 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, 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 Ic- any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and 13- 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 (b) any such activity shall be conducted in compliance with all applicable federal, state, and local taws, 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 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 Trustor becomes liable for
<br />cleanup ar other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lander 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 />
|