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<br />THIS DEED OF TRUST is dated September 24, 2012, among Nathaniel A Schanou and Kristi S. ���
<br />� Schanou, whose address is 4025 Sacramento Cir, Grand Island, NE 68803-1538 ("Trustor"1; �`��
<br />�� CORNERSTONE BANK, whose address is Shelton Facility, 119 C Street, P.O. Box,639, Shelton,
<br />..- NE 68876-0639 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"1;
<br />� and CORNERSTONE BANK, whose address is 529 LINCOLN AVENUE, YORK, NE 68467
<br />�,, (referred to below as "Trustee").
<br />'�"' CONVEYANCE AND GRANT. For valuable consideretion, Trustor conveys to Trustee in trust, WITH POWER OF SALE,
<br />� �, for the beneflt of Lender as Beneflciary, 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 affixad 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 prope including without
<br />limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") loceted in Hell County,
<br />State of Nebraska:
<br />Lot 15, Jeffrey Oaks Third Subdivision to the C'ity of Grand Island, Hall County,Nebraska
<br />The Real Property or its address is commonly known as 4025 Sacramento Circle, Grand Island,
<br />NE 68803-1538. The Real Property tax identification number is 400367424.
<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, INCLUDING THE ASSIGNMENT OF RENTS AND 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 OF EVEN DATE HEREWITH. ANY
<br />EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AQREEMENT, 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 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 shali 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 PROPERTI'. 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; (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 />Compllance With Environmental 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, (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 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 ahall be conducted in compliance with
<br />all applicabJe 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 Property to make such
<br />inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the
<br />Property with this section of the Deed of Trust. Any inspections or tests mada 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 3o Trustor or
<br />to any other person. The representations and warranties contained herein are based on Trustor's due diligence in
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<br />WHEN RECORDED MAIL TO:
<br />CORNERSTONE BANK
<br />Shelton Facility
<br />719 C Street
<br />P.O. Box 639
<br />Shelton, NE 68876-0639 FOR RECQRDER'S USE ONLY
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