|
.��
<br />��
<br />�
<br />1��
<br />0 ��
<br />.� �
<br />.� .��
<br />0
<br />� —
<br />� ��
<br />c� ��
<br />��
<br />���
<br />��
<br />��
<br />.�
<br />;)
<br />�
<br />;�
<br />;��
<br />,�.
<br />�
<br />�;
<br />,��;
<br />�
<br />A �
<br />���
<br />�
<br />�
<br />_
<br />� �
<br />�
<br />�
<br />— 1
<br />��
<br />Z�
<br />p �a
<br />r
<br />r �
<br />� t
<br />�
<br />I'Tt
<br />c�
<br />�
<br />�
<br />�
<br />�
<br />0
<br />�
<br />0
<br />er►
<br />0-
<br />us
<br />r.i
<br />0
<br />r-.+
<br />O
<br />�
<br />�
<br />!�-+
<br />...0
<br />�
<br />�
<br />�
<br />...0
<br />N
<br />G'� tt�:
<br />C3 —1
<br />C D
<br />� �i
<br />� .�
<br />� �
<br />O 'T7
<br />� �
<br />S m
<br />� �
<br />r aa
<br />r �.
<br />�
<br />�
<br />Tv
<br />�
<br />�'
<br />., �',.�„_
<br />D [ �
<br />F—�- ,�"
<br />FJ �-±�"
<br />o ..h.
<br />� ..
<br />-�]
<br />W
<br />�
<br />WHEN RECORDED MAIL TO:
<br />PINNACLE BANK �
<br />CENTRAL CITY OFFICE
<br />320 G ST ���
<br />PO BOX 28
<br />CENTRAL CITY NE 68826 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 October 13, 2011, among OSEKA HOMES LLC, a Nebraska
<br />Limited Liability Company, whose address is 1709 MEADOW ROAD, GRAND ISLAND, NE
<br />68803 ("Trustor"); PINNACLE BANK, whose address is CENTRAL CITY OFFICE, 320 G ST, PO
<br />BOX 28, CENTRAL CITY, NE 68826 (referred to below sometimes as "Lender" and sometimes
<br />as "Beneficiary"); and PINNACLE BANK, whose address is PO BOX 28, CENTRAL CITY, NE
<br />68826 (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 Beneflciary, 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 Propel°�y") IoCated in HALL
<br />County, State of Nebraska:
<br />LOT THREE (3►, BLOCK TWO i2). NORTHVIEW EIGHTH SUBDIVISION, IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 2939 LEE STREET, GRAND ISLAND,
<br />NE 68803.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities,
<br />plus interest thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of
<br />the Note, whether voluntary or otherwise, whether due or not due, direct orindirect, determined or undetermined,
<br />absolute or contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with others,
<br />whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts
<br />may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />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
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust
<br />secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br />Trustor, 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 Property 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 lA) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br />ANY AND ALL OBLIGATIONS UNDER THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT
<br />OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE
<br />ANY AND ALL OF TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN
<br />TRUSTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN
<br />AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF
<br />DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING
<br />TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed ot Trust, Trustor shall pay to Lender all
<br />amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of
<br />Trustor's obligations under the Note, 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
<br />and 2A-309 of the Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the
<br />Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and
<br />control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
|