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<br /> WHEN RECORDED MAIL TO:
<br /> PINNACLE BANK o
<br /> AURORA MAIN OFFICE �„I,0
<br /> 1234 L ST f�f'
<br /> PO BOX 229
<br /> AURORA. NE 68818 FOR RECORDER'S USE ONLY
<br /> CONSTRUCTION DEED OF TRUST
<br /> THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br /> WITHIN 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 $125,000.00.
<br /> THIS DEED OF TRUST is dated May 14, 2012, among ALBERT R NESBITT, a single person,
<br /> whose address is 2307 N SHERMAN BLVD, GRAND ISLAND, NE 68803 ("Trustor");
<br /> PINNACLE BANK, whose address is AURORA MAIN OFFICE, 1234 L ST, PO BOX 229,
<br /> AURORA, NE 68818 (referred to below sometimes as "Lender" and sometimes as
<br /> "Beneficiary"); and PINNACLE BANK, whose address is PO BOX 229, AURORA, NE 68818
<br /> (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") located in Hall County,
<br /> CZ1 State of Nebraska:
<br /> m
<br /> .�� Lot One (1), Alda South Subdivision, Hall County, Nebraska.
<br /> QThe Real Property or its address is commonly known as 7034 West Schultz Road, Alda, NE
<br /> Irri 68810.
<br /> —I
<br /> "" FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor
<br /> ✓ whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust
<br /> r n secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to
<br /> f Trustor, together with all interest thereon.
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and
<br /> C interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Trustor
<br /> C'9 grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents.
<br /> col 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 THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT
<br /> OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE
<br /> ANY AND ALL OF TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN
<br /> TRUSTOR AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN
<br /> AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF
<br /> DEFAULT UNDER 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 /> 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 /> CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes 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 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 /> Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so
<br /> long as this Deed of Trust remains a lien on the Property, used for the generation, manufacture, storage,
<br /> treatment, disposal, release or threatened release of any Hazardous Substance in violation of any Environmental
<br /> Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such inspections and tests as
<br /> Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust.
<br /> Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event
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