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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
<br /> MAXIMUM LIEN. The Iien of this Deed of Trust shall not exceed at any one time $383,155.00.
<br /> THIS DEED OF TRUST is dated July 18, 2013, among GREGORY L RAY, whose address is
<br /> 1915 W 11TH ST, GRAND ISLAND, NE 68803 and DARCY M RAY, whose address is 1915 W
<br /> 11TH ST, GRAND ISLAND, NE 68803; HUSBAND AND WIFE ("Trustor"); Equitable Bank,
<br /> whose address is biers Avenue Branch, PO Box 160, Grand Island, NE 68802-0160 (referred
<br /> to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank (Grand
<br /> Island Region), whose address is 113-115 N Locust St; PO Box 160, 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 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") Iocated in HALL
<br /> County, State of Nebraska:
<br /> LOT FOUR (4) IN BLOCK ELEVEN (11), BOGGS AND HILL'S ADDITION TO THE CITY OF
<br /> GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> The Real Property or its address is commonly known as 1915 W 11TH ST, GRAND ISLAND,
<br /> NE 68803. The Real Property tax identification number is 400021315.
<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 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 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 shall 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 PROPERTY. 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 /> 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
<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 shall be conducted in compliance with
<br /> all applicable 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
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