|
�
<br />�
<br />�
<br />N �
<br />0 �
<br />� �
<br />� �
<br />�
<br />� �
<br />�
<br />� �
<br />�
<br />��
<br />�
<br />�
<br />�
<br />��
<br />�
<br />t9 �'
<br />� � �
<br />��
<br />:T.
<br />� �
<br />�
<br />- J
<br />�
<br />.-�.-�
<br />�y
<br />a , �
<br />r i - �
<br />�- ( •, . �
<br />r , - —c
<br />or �
<br />� �
<br />m
<br />c-� � �_--
<br />c
<br />v� �� �
<br />-� 3
<br />rn
<br />f�
<br />� � P:� �--�
<br />o � ,:.
<br />�
<br />", `' o
<br />o �-- -c
<br />�
<br />c� cr,
<br />o —�
<br />C 3>
<br />z —+
<br />--� m
<br />-< G
<br />O - n
<br />Tt �
<br />= r
<br />D m
<br />r �o
<br />r n
<br />�
<br />�
<br />n
<br />�
<br />�
<br />O
<br />N
<br />O
<br />�
<br />F-a
<br />O
<br />c.a
<br />co
<br />►-�
<br />ca
<br />,�; .
<br />r
<br />��:
<br />�
<br />j�� �nY
<br />WHEN RECORDED MAIL TO:
<br />Cornerstone Bank
<br />Central City Facility
<br />1631 16th Street
<br />C�ntral City, NE 68826-1815 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated May 24, 2011, among Midwest Premier Investments, LLC; A Nebraska Limited
<br />Liability Company ("Trustor"); Cornerstone Bank, whose address is Central City Facility, 1631 16th Street,
<br />Central City, NE 68826-1815 (referred to below sometimes as "Lender" and som�times as "Beneficiary"); and �O
<br />CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE 68467 (referred to below as �--
<br />"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 foliowing 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 ° Reel PI'Ope1"ty located in Hall
<br />County, State of Nebraska:
<br />Lot 6, Block 10, Rollins Addition to the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 922 W 5th Street, Grand Island, NE 68801-4400.
<br />The Real Property tax identification number is 400084805.
<br />CROSS-COLLATERALIZATION. In eddition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or any one or more of them, as well as ali claims by Lender against Trustor or any one or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation parry or otherwisa, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br />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 Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in eddition to the amounts
<br />specified in the Note, all future amounts Lender in its discretlon may loan to Trustor, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Daed of Trust) all of Trustor's right, title, and intarest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender e 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 ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND 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 menner perform 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 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 (3) collect the Rents from the Property.
<br />Duty to Meintain. Trustor shall maintain tha Property in tenantable 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: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposel, 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 owners 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 user 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 conducted in compliance with all applicable federei, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmentel 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 mey deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed 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 lnvestigating 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 (2) agrees to indemnify, defend, and hold harmless Lender against eny and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's ecquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
|