|
�
<br />-
<br />�
<br />N �
<br />0 �
<br />�
<br />� �
<br />0
<br />W �
<br />W �
<br />rn �
<br />-
<br />-
<br />-
<br />�
<br />.
<br />p
<br />�
<br />n � .
<br />�
<br />�
<br />� �
<br />�
<br />� �
<br />F-J
<br />� � ��►
<br />� �
<br />L
<br />�o '`� � �, �
<br />�'� �; ;-: _ t "'
<br />� o �
<br />=o � _ O
<br />� �
<br />c J_
<br />� �'' �
<br />r�i �
<br />r � �
<br />� � t ' , c.�
<br />P'
<br />� �� �
<br />� / \
<br />� �JV
<br />�
<br />c> cn
<br />� �
<br />C D
<br />� �
<br />� �
<br />"� o
<br />O - T1
<br />� `
<br />= m
<br />� c�
<br />r �
<br />r z�
<br />�
<br />�
<br />D
<br />�
<br />�
<br />�
<br />N
<br />O
<br />6—�
<br />M�
<br />O
<br />CJ'1
<br />c..�
<br />W
<br />V 1
<br />�
<br />"�
<br />�
<br />,�-,�.
<br />;;,.
<br />ti:
<br />I .. .
<br />'�:
<br />WHEN RECORDED MAIL TO: 6
<br />Exchange Bank � � �
<br />P.O. Box 760 '
<br />#14 LaBarre �
<br />Gibbon, NE 68840 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 Don G Alexander and Nyla L Alexander,
<br />Husband and Wife as joint tennants; Donald G Alexander Trustee of the Donald G Alexander
<br />Revocable Living Trust and Nyla L Alexander Trustee of the Nyla L Alexander Revocable Living
<br />Trust as shown in Warranty Deed Recorded as Document No. 200308309 ("Trustor");
<br />Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to
<br />below sometimes as "Lender" and sometimes as "Beneficiary"1; and Exchange Bank, whose
<br />address is P.O. Box 5793, Grand Island, NE 68802 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br />for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real
<br />property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all
<br />easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with
<br />ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property IoCeted In Hell COUnty,
<br />State of Nebraska:
<br />Parcel 1: Lot Fourteen (14), Westwood Park Tenth Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska.
<br />Parcel 2: Unit Fifteen (15), Westwood Park I Condominiums, in the city of Grand Island,
<br />Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 4127 Sandalwood Drive & 408
<br />Rosewood Circle, Grand Island, NE 68803.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to
<br />Borrower whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed
<br />of Trust secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan
<br />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
<br />interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Trustor
<br />grants to Lender a Uniform Commercial Code security interest in the Personal Properry and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br />PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br />ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br />PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF BORROWER'S OBLIGATIONS UNDER THAT
<br />CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN BORROWER AND LENDER OF EVEN DATE HEREWITH. ANY
<br />EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF
<br />TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at
<br />Borrower's request and not at the request of Lender; (b) Trustor has the full power, right, and authority to enter into
<br />this Deed of Trust and to hypothecate the Property; (c) the provisions of this Deed of Trust do not conflict with, or
<br />result in a default under any agreement or other instrument binding upon Trustor and do not result in a violation of any
<br />law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of obtaining
<br />from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no
<br />representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency"
<br />law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br />deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judicially or by 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
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their
<br />respective obligations under the Note, this Deed of Trust, and the Relatad Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a"construction mortgage" for the purposes of Sections 9-334
<br />rCO��
<br />� ~ �6
<br />
|