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<br />WHEN RECQRDED MAIL TO:
<br />Equitable Bank
<br />PO Box 9 60
<br />rand I and NE 688 2-0760 FOR RE ORDER'S USE ONLY
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<br />DEED OF TRUST �
<br />MAXIMUM LIEN. 7he lien of this Deed of Trust shall not exceed at any one time $60,OOO.QO. �
<br />TWIS DEED OF TRUST is dated December 13, 2010, amnng MARVIN RIEF, whose address is 216 LAKESIDE �
<br />DRIVE, GRAND ISLAND, N� 6$8Q1 and DORQTMY RIEF, whase address is 216 LAKESIDE DRIVE, GRAND
<br />ISLAND, NE 68807; MUSBAND AND WIFE ("Trustor"►; �qui#able Bank, whose address is North Locust Branch,
<br />113-115 N Locus# St, PO Box 16p, Grand Island, NE 6$802-0160 (referred to below sometimes as "Lender"
<br />and sometimes as 'Beneficiary"►; and Equitable Bank �Grand Island Region►, whose address is 113-11 S N
<br />Locust St; PD Box 160, Grand Island, N� 68802-p160 (referred to below as "Trustee"►.
<br />CONVEYANCE AND GRANT. For valuable cnnsideration, Trustor conveys to Trustae in trust, WITH POWER OF SALE, fnr the benefit of
<br />Lander as Beneficiary, all of Trustor's right, title, and inter�st in and to the following described real property, together with ell existing or
<br />subsequently erected or affixed buildings, improvements snd fixtur�s; 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, (the "Real PPOperty") IoCBted in HALL
<br />County, State of Nebraska: �
<br />LOT SEV�NTEEN (77►, HIDDEN LAKES SUBDIVISION NUMBER FQUR, HALI. COUNTY, NEBRASKA
<br />7he Real Property or its address is aommonly known as 216 LAKESIDE DRIVE, GRAND ISL.AND, N� 688Q1.
<br />The Real Property tax identificati�n number is 4002117�,6.
<br />REVOLVING LIN� OF CREbIT. This Deed of Trust secures the Indebtadness including, without limitation, a revolving line of credit, which
<br />abligates Lender to make advances to Borrower sv Iong as Borrawer cnmplies with all the terms of the Credit Agreernent. Such advences
<br />may he made, repald, and remade from time tn time, subject to the limitation that the tntal outstanding balance owing at any one time, not
<br />including finance charges on such 6alance at a fixed or variable rate or sum as provided in the Credit Agreement, any temporary ouerages,
<br />other charges, and any amounts expended or advanced as prnvided in either the Indebtedness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provlded in the Credit Agreament. It is the intention of Trustor and Lender that this Deed of 7rust secures the
<br />6alance outstanding under the Credit Agreement from time to time from zero up tn the Gredit Limit as provided in the Credit Agreement
<br />end any intermediate balance.
<br />Trustor presently assigns to Lender (alsb known as Beneficiary in this Deed qf Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property end all Rents frnm the Property. In addition, Trustor grants to Lender a Unifonn Commercial
<br />Code security interest in the Personal Property end Rents.
<br />tH15 �EED QF TRUST, INCLUDING THE ASSIGfVMENT �F RENTS AND ?H� SECURITY INTEREST IN 7HE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INpEBTEDNESS AND (B) pEaFORMANCE QF EACH �F TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CR�pIT AGREEMENT, THE RELATEp pOCUMENTS, AND THIS bEED OF TRUST. THIS
<br />bE�D �F TRUST I5 GIVEN ANb ACCEPTED ON 7HE FOLLOWING 7ERM3:
<br />TRUSTOR'S REPRESENTATIONS AND WpRRANTIES. Trustor warrants that: (a) this D�ed 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 beed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do noY result in a violation of any law, regulation, court decree or brder applicable to Trustor, (d) Trustor has
<br />established adequate means of obtaining frnm 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 r,reditworthiness of Borrowerl.
<br />TRUSTOR'S WAIVERS. Trustpr waives all rights or defenses arising by reason of any "one action" pr "anti-deficiency" law, or any other
<br />law which may prevent Lender from 6ringing 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 providPd in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by this Deed of Trust as it 6ecomes due, and Borrower and Trustor shall perform all their respective obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />POSS�SSION AND MAIN7'ENANCE OF THE PROPER'TY. Borrower and Trustor agree that Bprrower's and Trustor's possession and use of
<br />the Property shall be govarned by the following prnvisions:
<br />Passession and Use. Until the occurrence of an Event of Default, Trustor may (1) rem�in in possessian and control of the Property;
<br />(2) use, operate or manage the Property; and (31 collect the Rents from the Property.
<br />Duty #a Maintain. Trustor shall maintain the Property in good condition and promptly perform all rerairs, replacements, 2nd
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. ?rustor represents and warrants to Lender that: (1) During the pPriod of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatPned release of any
<br />Hazardous Substance by any person on, under, ebout or from the Property; (2) 7rustor has no knowledge of, or reason to believe
<br />that there has 6een, 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, relesse or threatened release of any
<br />Wazardous 5ubstance on, under, a6out or from the Property by any prior qwners 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 (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized usPr 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 conductad in compliance with all applicable fPderal, 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 determjne compliance of the Property
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