|
~~
<br /> ~
<br /> \\
<br />C 7
<br />N r
<br />r. ~..
<br />~
<br />e ~~
<br />" ~
<br />v ~ ]4
<br />~ ~
<br />r~
<br />~~
<br />~~
<br />~~
<br />..~
<br />
<br />
<br />~'
<br />° -~
<br />~ U, ~
<br />~
<br />..
<br />` ~ i ~, ~ C = y
<br />~
<br />te `
<br />~.Z \
<br />[""a ~ ~'
<br />~ ~{ fv
<br />~7
<br />'
<br />f r
<br />.
<br />~ = z: "~~ "-~ rn C7 rrI
<br />
<br />m 8 ~ c~ s:~,r - o ~' N ~
<br />
<br />7C Z ~,"
<br />C"7 ~
<br />~~: ~ ~= r~~
<br />~ C:~J
<br />~~ Z
<br /> ~/ . .
<br />
<br />
<br /> ~ cc~ m
<br />
<br /> r ~ rJ, qo
<br /> cn Z
<br />Q
<br />WMEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760 /~.5. UU
<br />#7Q LaBarre J
<br />Gibbon..., NE B884p ,,, ,,,,, _,._ .,._ FOR R,EC,ORDi=R'S USE ONLY
<br />DEED OF TRUST
<br />TH15 DEED OF TRUST is dated September 22, 2010, among T & S Properties, LLC, A Nebraska Limited
<br />Liability Company ("Trustor"); Exchange Bank, whose address is P,O. Box 760, #14 LaBarre, Gibbon, NE
<br />6$$40 (referred to below sometimes as '"Lender" and sometimes as "Beneficiary"); and EXCHANGE BANK,
<br />whose address is 939 S LOCUST ST, GRAND ISLAND, NE 68809 (referred to below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the bonefit 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 rightsl; 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°) IOCated in Hall
<br />County, State of Nebraska:
<br />See Exhibit "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
<br />set forth herein.
<br />CROSS-COLLATERALIZATION. In addition tc the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, ar any one or more of them, as well as all claims by Lender against Trustor or any one or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Nate, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br />such amounts 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 whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to 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 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 />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IA) 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
<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 />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the fallowing provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may I1- remain in possessicn and control of the Property;
<br />121 use, operate or manage the Property; and 131 collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall 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; 12- 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, la) any breach or violation of any
<br />Environmental Laws, Ib) 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 Ic- any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and 131 Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent ar 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 Ib) 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 of 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 responsibility 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 Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and 121 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 nr 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 be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
|