|
<br />
<br />c7 -~--~ m
<br />
<br />e~r~ ~ ~ `, rF ~ C O
<br />
<br />~ ~ n © r
<br />r7 ~ ..r7 ~ © ~
<br />~ e~rrsr~
<br />~
<br />~ 1'1'1 ~ ~
<br />- )
<br />C7 11'1
<br />~ :.:.C: r"r~1
<br />C~ ~
<br />C
<br />S
<br />J1
<br />C ~ Z rn ~ ~ r=- ~ B
<br />
<br />
<br />~_ ~. U)
<br />~ Grp
<br />~
<br />Ca ~:;,
<br />~_ (~ ~ try
<br />~ r~~
<br />V ~ ~
<br />c
<br /> n
<br />~~ GJ'1 ~'
<br />
<br />WHEN RECORDED MAIL TO:
<br />Bank of Clarks
<br />Farmers State Bank, A Branch of Bank of Clarks
<br />2nd & Vine Street 3SJlQ
<br />P. O. Box 246
<br />Silver Creek NE 68663-0246 FDR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 540,000.00.
<br />THIS DEED OF TRUST is dated September 22, 2010, among Dals A. Semm, a married person, whose address
<br />is 4851 West Abbott Road, Grand Island, NE 68803 and Diane Semm, a married person, whose address is
<br />4851 West Abbott Road, Grand Island, NE 68$03 ("Trustor"1; Bank of Clarks, whose address is Farmers State
<br />Bank, A Branch of Bank of Clarks, 2nd & Vine Street, P. O. Box 24G, Silver Creek, NE 68663-0246 (referred
<br />to below sometimes as "Lender" and sometimes as "Beneficiary"1; and Bank of Clarks, whose address is 301
<br />N. Green, P.O. Box '125, Clarks, NE 68628-0125 (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 rightsl; and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, IthB "Real Property") located in Hall
<br />County, State of Nebraska:
<br />Lot Nine 191, Block Seventy-Seven (771, Wheeler and Bennett's Third Addition to the City of Grand Island,
<br />Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 318 E. 14th Street, Grand Island, NE 68801.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of either Truster 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 pr 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 pr 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 pr 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 Bprrower or Trustor, together with all interest
<br />thereon; however, in no event shall such future advances (excluding interest) exceed in the aggregate 540,000.00.
<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, 15 GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY ANp ALL OBLIGATIONS
<br />UNDER THE NOTE, TWE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED QF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: Ia1 this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender; (b) Truster 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 dp 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 lel
<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, Bprrower 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 pf 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 />12) use, operate or manage the Property; and 131 collect the Bents from the Property.
<br />Duty tv 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: 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; 121 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 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 />
|