|
<br />
<br />
<br /> k a U' Z
<br />
<br /> N J? ~ m ~7
<br /> C:3 M
<br />
<br /> -17 M C:)
<br /> -4- CA co
<br /> N Cn
<br /> Fad
<br /> ~ ~ C:Il ~ f..a
<br /> .rw+ra•rw~w~ Gr'a W
<br /> 0
<br /> WHEN RECOI&DED MAIL TO:
<br /> Platte Valley State Bank & Trust,Company
<br /> PVSB Grand Island Branch
<br /> 810 Allen Or pa -e°>( s/(09
<br /> Gran Igla d, n NE 688 FOR RE RDER'S USE ONLY
<br /> DEED OF TRUST
<br /> a
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $595,000.00.
<br /> THIS DEED OF TRUST is dated August 12, 2010, among Chelsea Square Development, LLC; a Nebraska
<br /> Limited Liability Company ("Trustor"); Platte Valley State Bank & Trust Company, whose address is PVSB
<br /> Grand Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and
<br /> sometimes as "Beneficiary"); and Platte Valley State. Bank & Trust Company, whose address is 810 Allen Dr,
<br /> Grand Island, NE 68801 (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 /> Part of the Northeast Quarter of the Southeast Quarter (NE1/4SE14) of Section Thirteen (13), Township
<br /> Eleven (11) North, Range Tan (10) West of the 6th P.M. Hal County, Nebraska, more particularly described
<br /> as follows: commencing at a point 148.5 feet South of the Northeast corner of said Northeast Quarter of
<br /> the Southeast Quarter of said Section; thence West for a distance of 290.0 feet, running thence Sokr for a
<br /> distance of 150.2 feet, running thence East for a distance of 290.0 feet, and running thence North for a
<br /> distance of 150.2 feet to the place of beginning. Except a tract of land more particularly described
<br /> in Warranty Deed filed September 30, 1994 as 6P20 >ttte~rt 4~~18811RR
<br /> The Real Property or its address is commonly known as eb hsland, NE 68803.
<br /> CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br /> thereon, of either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower and Trustor
<br /> or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br /> voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br /> unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety,
<br /> accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br /> limitations, and whether the obligation to repay 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 Borrower or Trustor
<br /> whether or not the advances are made pursuant to a commitment, Specifically, without limitation, this Deed of Trust secures, in addition
<br /> to the amounts specified in'the Note, all future amounts Lender in its discretion may loan to Borrower or Trustor, together with all interest
<br /> 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 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 /> TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br /> not at the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br /> Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br /> binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor, (d) Trustor has
<br /> established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br /> Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br /> TRUSTOR'S WAIVERS, Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br /> law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br /> entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br /> exercise of a power of sale.
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br /> Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br /> obligations under the Note, this Deed of Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br /> the Property shall be 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; (2) Trustor has no knowledge of, or reason to believe
<br />
|