|
<br /> ::0 n s; ,I".......:) f
<br /> ~'~..:.;:~:~. (") en
<br /> m % c::::.~ C>
<br /> "'ft rn en ':~' ~ 0 -<
<br /> c: c: 1:>-
<br /> Z n :r ~ c:::> ::z: --1 N
<br />n ;i'lO; ~ f' ' C:"J --I G"1
<br />::I: E c f"n ~- ..--.-j -"< C>
<br />~ (l--'; ~-{'- C)
<br />m N 0 ""1 0 a:-
<br />n 0 -..J
<br />~ ::c -"'1 "'T" .IIIt.._. en
<br /> C::':" _..1._ ;"'1 i
<br /> ('''1'"'1 1\ -0 !:'I- CT,J C)
<br /> ""'1'1 ::3 r :"1
<br /> 0 (\ r }~ CD
<br /> (j'l .' en
<br /> ~ c..:> A en !
<br /> l:o- (D
<br /> -C --
<br /> CD Ul W
<br /> Ul ~
<br />
<br />
<br />t'\J
<br />IS)
<br />IS)
<br />en
<br />IS)
<br />CD
<br />CJ'1
<br />CD
<br />W
<br />
<br />/.l1J+ [
<br />WHEN R~D~All TO:
<br />Equitable Bank
<br />Diers A venue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $145,850.46.
<br />
<br />THIS DEED OF TRUST is dated October 23, 2006. among MICHEAl R PHilLIPS and BONITA R PHilLIPS.
<br />
<br />HUSBAND AND WIFE. ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch, PO Box 160. Grand
<br />
<br />Island, NE 68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and
<br />
<br />Equitable Bank (Grand Island Region), whose address is 113-115 N locust St; PO Box 160, Grand Island, NE
<br />
<br />68802-0160 (referred to below as "Trustee").
<br />
<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 following described real property, together with all existing or
<br />subsequently erected or affixed huildings, 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 "Real Property") located in HAll
<br />
<br />County. State of Nebraska:
<br />
<br />lOT TWENTY-FOUR (24). WEST BEL AIR FIFTH SUBDIVISION. CITY OF GRAND ISLAND, HAll COUNTY.
<br />
<br />NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 1746 DOREEN ST, GRAND ISLAND. NE 68803.
<br />
<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 grants to lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />
<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 />
<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 manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall he
<br />governed by the following provisions:
<br />
<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 />
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<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 hy 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 federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental 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 may deem appropriate to determine compliance or 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 responsihility 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 investigating the Property for Hazardous Suhstances. Trustor
<br />hereby (1) releases and waives any future claims against lender for indemnity or contrihution in the event Trustor hecomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless lender against any 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 he
<br />affected by lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance. Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timher, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without lender's prior
<br />written consent. As a condition to the removal of any Improvements, lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />
<br />.oL
<br />
|