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<br />WHEN RECORDED MAIL TO: ��
<br />Exchange Bank �/Q
<br />Gibbon Branch ( `
<br />14 LaBarre Street
<br />PO Box 760
<br />Gibbon. NE 68840 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated May 11, 2012, among BENJAMIN R DAVIS and ADRIENNE M
<br />TRANEL, whose address is 716 W 2ND ST, GRAND ISLAND, NE 68801 ("Trustor"); Exchange
<br />Bank, whose address is Gibbon Branch, 14 LaBarre Street, PO Box 760, Gibbon, NE 68840
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary"1; and (referred to
<br />below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable conslderetlon, Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br />for the benefit of Lender as Beneflclary, 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") located in HALL
<br />County, State of Nebraska:
<br />SOUTHERLY SIXTY-FOUR (64) FEET OF LOT ONE (1►, BLOCK FIVE (5), IN GILBERT'S
<br />SECOND ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 1516 N EDDY ST, GRAND ISLAND,
<br />NE 68801. The Real Property tax identification number is 400134519.
<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 (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 IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of 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 />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; (21 use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintatn. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs,
<br />replacements, and maintenance necessary to preserve. its value.
<br />Compliance With Envlronmental Laws. Trustor represents and warrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal,
<br />release or threatened release of any Hazardous Substance by any person on, under, about or from the Property;
<br />(2) Trustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and
<br />acknowledged by Lender in writing, la) any breach or violation of any Environmental Laws, (b) any use,
<br />generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance
<br />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 by any person relating to such matters; and (3) Except as previously
<br />disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other
<br />authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous
<br />Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with
<br />all applicable federal, state, and local laws, regulations and ordinances, including without limitation all
<br />Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Properry to make such
<br />inspections and tests, at Trustor's expense, as Lender m ay deem appropriate to determine co mpliance of the
<br />Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or
<br />to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
<br />investigating the Property for Hazardous Substances. Trustor hereby (1) releases and waives any future claims
<br />against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under
<br />any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from
<br />a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage,
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