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<br />WHEN RECORDED MAIL TO�
<br />Equitable Bank
<br />Dlers Avenue Branch �! �
<br />PO Box 160
<br />Grand Island. NE 68802-0160 FOR RECORDER'S_USE ONLY �o
<br />�'
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 550,000.00.
<br />THIS DEED OF TRUST is dated June 8, 2012, among GALEN E GERDES, whose �ddress is
<br />2116 INDEPENDENCE AVE, GRAND ISLAND, NE 688032258 and TAMERA M GERDES,
<br />whose address is 2116 INDEPENDENCE AVE, GRAND ISLAND, NE 68803; HUSBAND AND
<br />WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand
<br />Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust
<br />St; PO Box 160, Grand Island, NE 68802-0160 (referred to below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideratlon, Trustor conveys to Trustee tn trust, WITH POWER OF SALE,
<br />for the benaftt of Lender es Beneflclary, all of Trustor's right, title, and interest in and to the following descrlbed 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 rightsl; and ell other rights, royalties, and profits releting to the real proparty, including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the "Real P1'Ope1°ty") loCeted 'In HALL
<br />County, State of Nebraska:
<br />LOT THIRTY-FOUR (34), LE HEIGHTS FOURTH SUBDIVSION, IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />The Reel Property or its address is commonly known as 2116 INDEPENDENCE AVE, GRAND
<br />ISLAND, NE 688032258. The Real Property tax identification number is 400158302.
<br />REVOLVING LINE OF CREDIT. Thts Deed of Trust secures the Indebtedness including, wfthout limitation, a revolving
<br />line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of the
<br />Credit Agreement. Such advances may be made, repatd, and remade from time to time, subject to the Itmitation that
<br />the totel outstending balance owing et any one tlme, not including finance charges on such balance at a flxed or
<br />variable rate or sum as provided in the Credit Agreemerrt, any temporary overeges, other charges, and any amounts
<br />expended or advanced as provided In either ffie Indebtedness paragraph or this paragraph, shall not exceed the Credit
<br />Llmlt es provtded in the Credft Agreement. It Ps the interrtlon of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreemerrt from time to Ume from zero up to the Credit Limit as provtded in the
<br />Credit Agreement and any Irrtermediate belance.
<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 end 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 />EACH OF TRUSTOR'S AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED
<br />DOCUMENTS, AND 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 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 e timely manner perform all of
<br />Trustor's obligations under the Credit Agreement, this Deed of Trust, end the Releted 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 mey (1) remain in possession and
<br />control of the Property; (2) use, operete or manage the Property; and (3) collect the Rents ftom the Property.
<br />Duty to Meirnain. Trustor shall maintain the Property in good condition and promptly perform all repairs,
<br />replacements, and maintenence necessary to preserve its value.
<br />Compliance With Environmentel 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 es previously disclosed to and
<br />ecknowledged by Lender in writing, (a) 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 eny person relating to such metters; and (3) Except as previously
<br />. ,, ,•'a � ;
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