|
~~
<br />
<br />~
<br />
<br />
<br />n
<br />
<br />
<br />. rte;
<br />~~7
<br />,._~
<br />~
<br />
<br />ca cn
<br />Q -,
<br />
<br />a
<br />m
<br />~ ~ .
<br />r'~~` ~~ z fV
<br />~ C Rtl N
<br />A = fix, ~ r ~t ~
<br />i
<br />~ ~ ~[7
<br />IVY =Ap ~ m ~~"~ ~ ~ ~ t~
<br />
<br />s ~
<br />~~
<br />
<br />~
<br />~
<br /> ~ "'"' ~
<br />
<br />~~.
<br />w rr1
<br />~ ~ f
<br />~.7
<br />r n cr' ~
<br /> ~
<br /> c, a ~.;.~ W Z
<br />r.rr~w O Cn --7 -+
<br />~~
<br />~.rr~ [~
<br />fC~~rttrJr CI~THyy ~r'-
<br />WWEN RECORDED MAIL'TO:
<br />Equitable Bank 30 , S~
<br />Diers Avenue Branch
<br />PO Box 180 ..__...
<br />Grand Island, NE 68802-0960 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shalt not exceed at any one time X25,000.00.
<br />THIS DEED OF TRUST is dated August 27, 2010, among DAVID L. CWRISTENSEN, whose address is 1820
<br />STAGECOACH RD, GRAND ISLAND, NE 68801 and JEANNE A. CWRISTENSEN, whose address is 1820
<br />STAGECOACH RD, GRAND ISLAND, NE 68801; Wusband and Wife ("Trustor"); Equitable Bank, whose
<br />address is Diers Avenue Branch, PO Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary"1; and Equitable Bank (Grand Island Region), whose address is
<br />113-115 N Locust St; PO Btax 160, Grand Island, NE 6$$02-0160 (referred to below as "Trus#ee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, far the benefit of
<br />Lander as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property°) located in MALL
<br />County, State of Nebraska:
<br />Lot Thirty Eight (38-, Regency By The Green Subdivision, to the City of Grand Island, Hall County,
<br />Nebraska.
<br />The Real Property or its address is commonly known as 1820 STAGECOACH RD, GRAND ISLAND, NE
<br />6$$01. The Real Property tax identification number is 400082527.
<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 Tong as Trustor complies with elk the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to tims, 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 or Burn as provired in the Credit Agreement, any temporary 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 frnrn zero up to the Credit Limit as provided in the Credit Agreement
<br />and any intermediate balance.
<br />Trustor presently assigns to Lender (also known as E3eneficiary in this Deed of Trust) all of Trustor's riyktt, title, and interest in an[i to all
<br />present and future leases of the Property and all Rents front the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and fients.
<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 T'HE INDERTEDNESS AND IB1 PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND TI.115 DEED OF TRUST. THIS
<br />DEED pF TRUST IS GIVEN AND ACCEPTED ON THE FOLLQWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Urted of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Peed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Credit
<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. 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 131 rellect 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 />rrraintenanee-necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (11 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, (a) any breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or lhrear.enerl release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, nr (r.) any arkual or
<br />threatened litigation or claims of ;toy kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by lender in writing, (a) neither 'Trustor nor any tenant, contractor, agent or other authorizes1 user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, un[ler, about or from the Properly;
<br />and Ib) any such activity shall be conducted in complianr•.e with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environrnent:al Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make sur•.h inspections and tP,5t5, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the heed of Trust. Any inspections or tests made by Gender shall he for Lender's purposes only and shall not be
<br />r,onstrued 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 (1) 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 in[lemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses whir•,h Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of TYust or as a consequence of any use, generation, rnartufacture, storage, disposal, release or
<br />thraatenad release occurring prior to Trustor's ownership or interest in t:he Property, whether or not the cams was or should have
<br />
<br />
|