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m <br /> <br /> <br />~~ ~ c~ <br />~ ~ ~ <br />N - m ~ ~ ca v~ a rrt <br /> <br /> Z x ~ -:-~ ~ --~ rv n <br /> ~ ~ ~ ~ ~ ~~ c~z <br /> ~ <br /> <br />~ ~ r O ~ <br /> ~ ~;i <br />~ ~ rr~ <br /> ' r'rry ~ ~ L+ f.T7 ~ <br /> ~ " <br /> c~ ~ <br />r C_fl <br />~ <br />~ ~ <br />H ~ ~~ <br /> ~ Z <br />~~ ~~ ~r .... ~.1_ Q <br />Cb t/7 t~ <br />-_..- _. _ Qf~7 <br />j~~- ~~~~, KIT <br />WHENTiECORDED MAIL 70: <br />Platte Valley State Bank & Trust Company ~ ~• <br />PVSB Grand Island Branch <br />810 Allen Dr P•D'8~ Slbd <br />Grand Island NE 68803 4i $~'Q?~- `I`~ZZ FOR RECORDER'S USE ONLY <br />DEED O~ TRUST <br />THIS DEED OF TRUST is dated July 27, 2010, among Tadd D. Gallion and Colleen C. Gallion; as Husband and <br />Wife ("Trustor"); Platte Valley State Bank & Trust Company, whose address is PVSB Grand Island Branch, 810 <br />Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender"" and sometimes as "Beneficiary"); <br />and Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island, NE 68801 <br />(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, oil, gas, geothermal and similar matters, (the °Real Property°) located In Hall <br />County, State of Nebraska: <br />The West Forty-seven and Five Tenths (47.5) feet of Lots Throe 131 and Faur (41, Black Two 121, Hann's <br />Second Addition to the City of Grand Island, Hall County, Nebraska <br />The Real Property or its address is commonly known as 214 East Koenig ,Grand Island, NE 6$801. The Real <br />Property tax identification number is 400042312. <br />REVOLVING LINE OF CREDIT. This Daad 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 Note. <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 />Coda 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 TH15 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 />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be <br />governed by the following provisiohs: <br />Possession and Use. Until the occurrence of an Event of Default, Trustor may 111 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 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: 111 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, la) 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 prior 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 (31 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 frpm the Property; <br />and Ib) 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 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 ors 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 (2) 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 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 Daad 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, nr grant tc <br />any other party the right to remove, any timber, minerals (including oil and gasl, 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 />