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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch -
<br /> PO Box '160
<br /> Grand Island.NE 68802-0'160 FOFi RECORDER`S USE ONLY
<br /> CONSTRUCTION DEED OF TRIJST
<br /> THIS DEED OF TRUST IS A CONSTFiUCT10N SECURITY AGREEMENT
<br /> WITHBN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 5260,000.00_
<br /> THIS DEED OF TRUST is dated September 21, 2012, among WENDY R RICKARD, whose
<br /> address is 3272 MAGNOLIA CT, GRAND ISLAND, NE 68803 and JAKE R RIGKARD, whose
<br /> address is 3272 MAGNOLIA CT, GRAND ISLAND, NE 68803; WIFE AND HUSBAND
<br /> ("Trustor"); Equitable Sank, whose address is Diers Avenue Branch, PO Box 7 60, Grarad Island,
<br /> NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Benef6ciary");
<br /> and Equitable Bank (Grand Island Region), whose address is 1'13-115 N Locust St; PO Box 160,
<br /> Grand Island, NE 68802-0760 (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 the fiollowing described real
<br /> property, together with all existing or subsequently erected or affixed buildings, improvements and fiixtures; all
<br /> easements, rights of way, and appurYenancesi all water, water rights and ditch rights (induding stock in utilities with
<br /> ditch or irrigation rights); and all oYher rights, royalties, and profits relating to the real property, including without
<br /> limitation aIl minerals, oil, gas, geothermal and similar matters, (the "Re31 Property") located in HALL
<br /> County, State of Nebraska:
<br /> LOT TWENTY (20), BLOCK ONE ('I), SUMMERFIELD ESTATES SEVENTH SUBDIVISION, IN
<br /> THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly known as 3871 SPARROW CIR, GRAND
<br /> ISLAND, NE 68803_ The Real Property tax identification number is 400438291.
<br /> FUTURE ADVANCES. In addition to the Note,this Deed of Trust secures all future advances made by Lender to T�ustor
<br /> whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust
<br /> secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br /> Trustor,together with all interest thereon.
<br /> Trustor presently assigns to Lender (also known as Beneficiary in ihis Deed of Trust) all of Trusfor's right, title, and
<br /> interest in and to aII present and future leases of tne Property a�nd 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 1NTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
<br /> ANY AND ALL OBUGATIONS UNDER THE NOTE. THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br /> DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AiVD THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF TRUSTOR'S OBLIGATIONS UNDER THAT
<br /> CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER O�F EVEN DATE HEREWITH. ANY
<br /> EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT. OR ANY OF THE RELATED DOCUMENTS
<br /> REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF
<br /> TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMSc
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in ttiis Deed ofi Trust, Trustor shall pay to Lender all
<br /> amouMs secured by this Deed ofi Trust as they become due, and shall strictly and in a timely manner perform alI of
<br /> Trustor's obligations under the Note,this Deed of Trust,and tne Related Documents.
<br /> CONSTRUCTION MORTGAGE. This Daed of Trust is a "construction� mortgage" fior the p�urposes of Sections 9-334
<br /> and 2A-309 of the Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br /> POSSESSION AND MAINTENANCE OF THE AROPERTY. 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 ("I) 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 iis value.
<br /> Compliance With Environmental Laws. Trustor rep�esents and warrants to Lender that: (1) During the period of
<br /> Trustor's ownership of the Pro�perty,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 ofi, or reason to believe that there has been, except as previously disclosed to and
<br />
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