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<br />WHEN RECORDED MAIL TO: d P�jjJ �'��
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch
<br />810 AIIen Dr ��o
<br />Grand Island, IVE 68803 FOR RECORDER'S USE ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated July 15, 2011, among Famos Construction, Inc; a Nebraska Corporation
<br />("Trustor"?: Platte Valley State Bank & Trust Company, whose address is PVSB Grand Island Branch, 810 Allen
<br />Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island, NE 68803 (referred
<br />to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benafit 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 righ#s►; end 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 Property IOCatBd 'In Hall
<br />Couniy, State of Nebraska:
<br />The Westerly Two Thirds (W2/3) of Lot Six (61, in Block Fifty Five (551, of the Original Town, now City of
<br />Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 116 West 3rd St, Grand Island, NE 68801. The Real
<br />Property tax identification number is 400004402.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whether or not
<br />the advances are made pursuent to a commitment. Specifically, without limitation, this Deed ot Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<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 grents to Lender a Uniform Commercial
<br />Code security interest in the Parsonel 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, INCLUDING THE ASSIGIIIMENT OF
<br />RENTS AND THE SECURITY INTEREST IN THE RENTS AND PEASONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />BORROWER'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION lOAN AGREEMENT BETWEEN BORROWER AND LENDER OF EVEN
<br />DATE HEREWITH, ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THERE1111, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF 7RUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a1 this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender; (b) Trustor has the fu(I power, rigfit, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; {c1 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 7rustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of o6taining from Borrower on a continuing basis information about Borrower's tinancial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrowerl.
<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, Borrower shall pay to Lender all Indebtedness
<br />secured by this Deed of 7rust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />this Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a"construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Code, as those sactions have been adopted by the State of Nebraska.
<br />POSSESSION /Y'ND 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 provisiqns:
<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 Properly; and (3) coUec# the Rents from the Property.
<br />Duty to Maintain. Trustor shaU maintain the 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, 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 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 end
<br />acknowiedged by Lender in writing, (a) neither Trustor no� any tenant, contractor, agent or other authoriaed 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 />
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