|
70
<br />rn
<br />�:
<br />= n N t!'1
<br />� _
<br />Z�
<br />A "
<br />� �
<br />�
<br />�-
<br />��
<br />� �
<br />�
<br />T
<br />A
<br />r r �
<br />r- C�. • �.�
<br />r � .,
<br />� r= n,)
<br />t' �� EV
<br />� ��
<br />t/. �
<br />rn �
<br />o �
<br />� ,J.,;., Ln
<br />� ��
<br />�
<br />U7
<br />c� cn
<br />o —a
<br />C �
<br />z
<br />� m
<br />� d
<br />O T
<br />�'7 �
<br />� R1
<br />n w
<br />r �
<br />r a
<br />�
<br />�
<br />D
<br />�
<br />�
<br />Rr� �nv
<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />West Branch p0 �pI'� ���
<br />2009 N. Diers Ave.
<br />Grand Island NE 68803 FOR RECORDER'S USE ONLY
<br />��VE POINTS B�AIVK �%
<br />z
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated March 14, 2011, among WILLIAM J KOCH and MICHELLE L KOCH; HUSBAND
<br />AND WIFE ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five Points Bank,
<br />whose address is P.O Box 1507, Grand Island, NE 68802-1507 (referred to below as "Trustee"1.
<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 fo�lowing 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 alI 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 />Lot One (1), Bison Meadows Subdivision Four in the Village of Doniphan, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 313 N 4TH ST, DONIPHAN, NE 68832-9587.
<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 long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade ftom time to time, 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 sum as provided in the Credit Agreement, any temporary overages,
<br />other cha�ges, and any amounts expended or advanced as provided in this paragraph, shall not exceed the Credit Limit as provided in the
<br />Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the balance outstanding under the Credit
<br />Agreemerst frorrs tome tu tiasvs from zero u� t� the Cred�t Limit as �oov� ili tO98 CP81�iY .^,greaens�t and any intermediate balanae.
<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 EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THIS 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 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 13) collect 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 />maintenance necessary to preserve its value.
<br />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of
<br />
|