|
r
<br />M
<br />200100745
<br />C
<br />Z
<br />S N
<br />_V
<br />7
<br /><-D
<br />C),
<br />f '
<br />o -I
<br />0
<br />70
<br />M
<br />p
<br />-ri
<br />p
<br />p
<br />M
<br />~
<br />rn1,u
<br />1
<br />�
<br />D W
<br />p
<br />COrn
<br />M
<br />r
<br />r n
<br />p
<br />W
<br />Cn
<br />x
<br />�=
<br />a
<br />WHEN RECORDED MAIL TO: p s
<br />Five Points Bank -.7 cn C n
<br />West Branch Cl)
<br />2009 N. [Hers Ave.
<br />Grand Island. NE 68803 FOR RECORDER'S USE ONLY
<br />rr7
<br />co
<br />CAD
<br />l�
<br />y
<br />CO2
<br />C
<br />co
<br />R
<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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $100,000.00.
<br />THIS DEED OF TRUST is dated January 26, 2001, among GREGORY S BAIRD and KAY L BAIRD; HUSBAND
<br />AND WIFE ( "Trustor "); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island,
<br />NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five Points
<br />Bank, whose address is P.0 Box 1507, Grand Island, NE 68802 -1507 (referred to below 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, fifie, 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 rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights royalties, andprofits relating to the real property including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Oroperty ") located in HALL County, State of
<br />Nebraska:
<br />THE EAST HALF OF THE SOUTHWEST QUARTER (E1 /2SW1/4) OF SECTION TWENTY FOUR (24),
<br />TOWNSHIP TWELVE (12) NORTH, RANGE NINE (9) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 3336 E WHITE CLOUD RD, GRAND ISLAND , NE
<br />68801 -9530.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no event shall such future advances (excluding
<br />interest) exceed in the aggregate $100,000.00.
<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 present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust,
<br />and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed
<br />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; (2)
<br />use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance
<br />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 of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />
|