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<br />WHEN RECORDED MAIL TO: ' ' `
<br />Exchange Bank
<br />P.O. Box 760 Q
<br />#14 LaBane
<br />Gibbon NE 68840 FOR RECORDER'S USE ONLY
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<br />DEED OF TRUST,°�; ;
<br />�s
<br />THIS DEED OF TRUST i� deted May 11, 2011, among Andrew E�icinger and Julie Encinger, Husband and Wife
<br />as Joint Tenants ("Trustor"); F�cchange Bank, whose address 7s �P.O. Box 760, #14 LaBarre, Gibbon, NE
<br />68840 (referred to below sometimes as "Lender" and sometimes .as y"Beneficiary"); and Exchange Bank, whose
<br />address is P.O. Box 5793, Grand Island, NE 68802 (referred to be�ow 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 folloviiin� described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; alI 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 relatin to the real
<br />property including' without limitation all minerals, oil, gas, geothermal and similar. ,matters, (the "Real Property") loc�te� in HALL
<br />County, State of Nebraska: " '
<br />}; ;
<br />Part of the Southeast Quarter of Section Twenty (20), in Tow�s�ip Eleven (11) North, Range Nine (9) West
<br />of the 6th P.M., Hall County, Nebraska, more particularly descri�ed as follows:
<br />;i
<br />Beginning at the Southeast corner of Bel-Air Addition to the City� of Grand Island, Nebraska; running thence
<br />in a Southerly direcfion along �nd upon the East line of said sSoutheast O.uarter, a distance of 380 feet to
<br />the �ctual point of beginning; thence continuing on said East' `ir►`e in a Southerly direction for a distance of
<br />75 feet; thence turning and running Westerly parallei to the?South line of said Section 20, a distance of
<br />115 feet; thence turning and running Northerly on a line par�llel with the east line of said Southeast
<br />O.uarter a distance of 75 feet; thence turning and running ,,Ea¢terly parallel with the South line of said
<br />Section 20, a distance of 115 feet to the point of beginning. :�
<br />The Real Prope�y or its address is commoniy known as 'i915 S�kR'�HUR ST, GRAND ISLAND, NE 68�01.
<br />CROSS-COLLATERALI7ATION. In addition to the Note, this Deed of Trust serur�s aIl obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or any one or more of them, as well as all claims�by9 Lender against Trustor or any one or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to thea puFpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute oc �ontingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, sut�ty, accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any st�tu�e of limitations, and whether the obligation to repay
<br />such amounts may be or hereafter may become otherwise unenforceable. If the Lender is required to give notice of the right to cancel
<br />under Truth in Lending in connection with any additional loans, extensions of credi� a`nd other liabilities or obligations of Trustor to Lender,
<br />then this Deed of 'Lrust shall not secure additional loans or obligations unless and until such notice is given.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future ��d'vances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, � hi�s Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Trustq�; t�bgether with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Tkustti 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 addi�ion, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents. '- '
<br />��j �
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIYEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND;'t6 PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. TWIS �EED OF TRUST IS GIVEN AI11D ACCEPTED ON THE
<br />FOLLOWING TERMS: �,; , � i
<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; pecform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents. ; '
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Ttustor's possession and use of the Property shall be
<br />govemed by the following provisions: ;.�
<br />Possessiors and f1se. Until the occurrence of an Event of Default, Trustor mey �1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the �P'to'perty.
<br />Duty to Maintain. Trustor shall maintain the Property in good conditiorj; a�d promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value. °'
<br />Compliance With Environmental Laws. Trustor represents and warrants to LeFtd�r that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, tFe��ment, 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 />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 owner'r, or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such rY�sitters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, co�8r�ctor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Haz�rdous Substence on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all ap�ficQble federal, 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 determine compliance of the Property
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