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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue BrencFi
<br /> PO Box '160
<br /> Grand Island. NE 68802-0960 FQR RECORDER'S USE ONLV
<br /> DEED OF TRUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $80,000.00.
<br /> THIS DEED OF TRUST is dated August 23, 2072, among MICHAEL A PALU, whose address es
<br /> 4019 KAY AVE, GRAND ISLAND, NE 68803 and VALERIE K PALU, whose address is 4019
<br /> KAY AVE, GRAND ISLAND, NE 688031506; Hl3SBAND & WIFE ("Trustor"); Equitable Bank,
<br /> whose address is Diers Avenue Branch, PO Box 160, Grand Island, NE 68802-0160 (referred
<br /> to below sometimes as "Lender" and sometimes as "Beneficiary"); and Ec�uitable Bank (Grand
<br /> Island Region), whose address is 1 13-7 7 5 N Locust St; PO Box 7 60, Grand Island, NE
<br /> 68802-0160 (referred to below as "Trustee").
<br /> CONVEYANCE AND GRANT. For valuable consideration,Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br /> for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to tne 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 (indud:ing stock in utilities with
<br /> ditch or irrigation rights); and all other rights, royalties, and profiits 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 o# Nebraska:
<br /> LOT ONE (7), SUNSET FIFTH SUBDIVISION, CITY OF GRAND 7SLAND, HALL COUNTY,
<br /> NEBRASKA
<br /> The Real Property or its address is commonly known as 4019 KAY AVE, GRAND ISLAND, NE
<br /> 68803. The Real Property tax identification number is 4001 64 7 40 .
<br /> REVOLVING LWE OF CREDIT. This Deed of Trust secures the Indebtedness i�duding, without limitation, a revolving
<br /> line of credit, which obligates Lender to make advances to Trustor so long as Trustor complies wiYh all the terms of the
<br /> Credit Agreement. Such advances may be made, repaid, and remade from time to time, subject to the limitation that
<br /> the tofial outstanding balance owing at any one time, not including finance charges on such balance at a fixed or
<br /> vaeiable rate or sum as provided in the Credit Agreement, any temporary overages, other charges, and any amounts
<br /> expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not exceed the Credit
<br /> Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that�this Deed ot Trust secures the
<br /> balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the
<br /> Credit Agreement and any intermetliate balance_
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, tiile, 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, WCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF TH�E INDEBTEDNESS AND (B) PERFORMANCE OF
<br /> EACH OF TRUSTOR'S AGREEMENTS AND 06LIGATIQNS 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�snalf� pay to Lender all
<br /> amounis 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 tne Credit Agreement,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 fiollowing 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; (2) 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,
<br /> replacements, and maintenance necessary to preserve its value.
<br /> Compliance With Environmental Laws_ Trustor represents and warrants to Lender thafi (1) During the period of
<br /> Trustor's ownership of Yhe Property,the�re 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 disdosed to and
<br /> acknowledged 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 tne Property by any prior owners or occupants of the Property, or (c) any actual or
<br /> threatened litigation or claims ofi any kind by any person relating to such matters; and (3) Except as previously
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