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201211098
<br /> WHEN REGORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box 7 60
<br /> Grand Island, NE 68802-0960 FOR RECORDER'S USE ONLY
<br /> DEED OF TRUST
<br /> MAXIMUM LIENe The lien of this Deed of Trust shall not exceed at any one time $230,000_00_
<br /> THIS DEED OF TRUST is dated December 79, 2072, among KIRBY K SMITH, whose address is
<br /> 3493 W GUENTHER RD, GRAND ISLAND, NE 688039124; A SINGLE PERSON ("Trustor");
<br /> Equitable Bank, whose address is Diers Avenue Branch, PO Box 7 60, Grand Island, NE
<br /> 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br /> Equitable Bank (Grand Island Region), whose address is 713-115 N Locust St; PO Box 160,
<br /> Grand Island, NE 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, titte, and interest in and to the following described real
<br /> property, together with all existing or subsequently erected or affixed buildings, improvements and fi�ctures; aIl
<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, royakies, 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 /> See EXHIBIT "A", which is attached to this Deed of Trust and made a part of this Deed of
<br /> Trust as if fully set forth herein_
<br /> The Real Property or its address es commonly known as 3493 W GUENTHER RD, GRAiVD
<br /> ISLAND, NE 68803_
<br /> REVOLVING LINE OF CREDIT. This Deed of Trust secures tFie Indebtedness including, without 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 advartces may be made, repaid, and remade from time to time, subject to the limitation that
<br /> the total outstanding balance owing at any one time, not including finance charges on such balance at a fixed or
<br /> variable rate or sum as provided in the Credit Agreement, any temporary overages. other charges, and any amounts
<br /> expended or advanced as provided in eitFier tl'ie Indebtedness paragraph or this paragiaph. shall not exceed the Credit.
<br /> Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of 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 intermediate balance.
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's ri.ght, title, and
<br /> interest in and fo all present and future leases ofi the Property and all Rents firom the Property. In addition, Trusior
<br /> grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
<br /> THIS DEED OF TRUST, WCLUDIIVG THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE REI�{TS 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 /> 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 the Credit Agreement,this Deed of Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. T�ustor agrees that Trustor's possession and use of ihe
<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 maintai:n the Property in good condition and promptly perform all repairs,
<br /> replacements, and maintenance necessary to preserve its value.
<br /> Compliance With Environmental. Laws. irustor represents and warrants to Lender that: (1) During the period of
<br /> TrustoPs 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 firom 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 /> generetion, manufacture, storage, treatment, disposal, relea5e or threatened release of any Hazardous Substance
<br /> on, under, about or from the Property by any prior owners or occupanis of the Property, or (c) any actual or
<br /> threatened litigation or daims 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, contrector, agent or other
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