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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank
<br /> Diers Avenue Branch
<br /> PO Box 160
<br /> Grand Island, NE 68802-0160 FOR RECORDER'S USE ONLY
<br /> DEED OF TRUST — Corrective
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $176,519.29.
<br /> THIS DEED OF TRUST is dated October 9, 2012, among DONALD L ARRANTS and MARILYN D
<br /> ARRANTS, Co-Trustees of the DONALD L ARRANTS AND MARILYN D ARRANTS REVOCABLE
<br /> TRUST DATED SEPTEMBER 18, 2012, whose address is 2203 RUE DE COLLEGE, GRAND
<br /> ISLAND, NE 688031831 ("Trustor"); Equitable Bank, whose address is Differs Avenue Branch,
<br /> PO Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and
<br /> sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is
<br /> 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-0160 (referred to below as
<br /> "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 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 (including stock in utilities with
<br /> ditch or irrigation rights); and all Other rights, royalties, 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 /> LOT TWENTY THREE (23), GRAND WEST SUBDIVISION, IN THE CITY OF GRAND ISLAND
<br /> HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly known as 1304 MANSFIELD, GRAND ISLAND,
<br /> NE 68803. The Real Property tax identification number is 400396610
<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 IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at
<br /> Borrower's request and not at the request of Lender; (b) Trustor has the full power, right, and authority to enter into
<br /> this Deed of Trust and to hypothecate the Property; (c) the provisions of this Deed of Trust do not conflict with, or
<br /> result in a default under any agreement or other instrument binding upon Trustor and do not result in a violation of any
<br /> law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of obtaining
<br /> from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no
<br /> representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br /> TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency'
<br /> law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br /> deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br /> or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all
<br /> Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their
<br /> respective obligations under the Note, this Deed of Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's
<br /> possession and use of the 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 /> Compliance 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
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