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<br />Recording Requested by $
<br />When Recorded Return To:
<br />US Recordings, Inc.
<br />222 E Little Canada Rd Ste 125
<br />^, r%-..l u._
<br />LINDA C SEMM
<br />MICHAEL J SEMM
<br />4174 ARIZONA AVE
<br />GRAND ISLAND, NE 688031110
<br />NEBRASKA
<br />DEED OF TRUST
<br />66200108976860001
<br />004�85 / /VJN01 14
<br />V
<br />MICHAEL JAMES SEMM, LINDA CAROL SEMM, HUSBAND AND WIFE
<br />507 -70 -0897
<br />TRUSTEE: Q.S. BANK NATIONAL ASSOCIATION
<br />FARGO, ND 58103
<br />or
<br />or tuture umgations, as
<br />niay neremaner De aavancea or incurrea ano the trust nereinaner mentioned and other good and valuable consideration, the receipt and sufficiency of which
<br />are hereby acknowledged, Grantor hereby irrevocably warrants, bargains, sells, transfers, grants, conveys and assigns to Trustee, his successors and
<br />assigns, IN TRUST WITH POWER OF SALE for the benefit and security of U. S. BANK NATIONAL ASSOCIATION ND
<br />( "Lender'), the
<br />beneficiary under this Deed of Trust, under and subject to the terms and conditions herein set fort h, with right of entry and possession all of Grantor's present
<br />and future estate, right, title and interest in and to the real property described in Schedule A which is attached to this Deed of Trust and incorporated herein
<br />by this reference, together with all present and future improvements and fixtures; all tangible personal property including without limitation all machinery,
<br />equipment, building materials, and goods of every nature (excluding consumer goods) now or hereafter located on or used in connection with the real
<br />property, whether or not affixed to the land; privileges, hereditaments, and appurtenances including all development rights associated with the Property,
<br />whether previously or subsequently transferred to the Property from other real property or now or hereafter susceptible of transfer from this Property to other
<br />real property; leases, licenses and other agreements; rents, issues and profits; water, well, ditch, reservoir and mineral rights and stocks pertaining to the real
<br />property (cumulatively "Property "); to have and to hold the Property and the rights hereby granted for the use and benefit of Lender, his successors and
<br />assigns, until payment in full of all Obligations secured hereby.
<br />Moreover, in further consideration, Grantor does, for Grantor and Grantor's heirs, representatives and assigns, hereby expressly warrant, covenant, and
<br />agree with Lender and Trustee and their successors and assigns as follows:
<br />1. OBLIGATIONS. This Deed of Trust shall secure the payment and performance of all present and future indebtedness, liabilities, obligations and
<br />covenants of Borrower or Grantor (cumulatively "Obligations ") to Lender pursuant to:
<br />(a) this Deed of Trust and the following promissory notes and other agreements:
<br />39,425.00 1 03/01/00 1 03/15/20 166200108976860001
<br />(b) all other present or future, written agreements wfflff-Eeincler that refer specifically tot is Deed of rust (whether exec u-ted or the same or different
<br />purposes than the foregoing);
<br />(c) any guaranty of obligations of other parties given to Lender now or hereafter executed that refers to this Deed of Trust;
<br />(d) future advances, whether obligatory or optional, to the same extent as if made contemporaneously with the execution of this Deed of Trust, made or
<br />extended on behalf of Grantor or Borrower. Grantor agrees that if one of the Obligations is a line of credit, the lien of this Deed of Trust shall continue
<br />until payment in full of all debt due under the line notwithstanding the fact that from time to time (but before termination of the line) no balance may be
<br />outstanding. At no time during the term of this Deed of Trust or any extension thereof shall the unpaid and outstanding secured principal future
<br />advances, not including sums advanced by Lender to protect the security of this Deed of Trust, exceed the following amount:
<br />This provision shall not constitute an obligation upon or commitment of Lender to make additional advances or loans to Grantor; and
<br />(e) all amendments, extensions, renewals, modifications, replacements or substitutions to any of the foregoing.
<br />As used in this Paragraph 1, the terms Grantor and Borrower shall include and also mean any Grantor or Borrower if more than one.
<br />2. REPRESENTATIONS, WARRANTIES AND COVENANTS. Grantor represents, warrants and covenants to Lender that:
<br />(a) Grantor has fee simple marketable title to the Property and shall maintain the Property free of all liens, security interests, encumbrances and claims
<br />except for this Deed of Trust and those described in Schedule B, which is attached to this Deed of Trust and incorporated herein by reference, which
<br />Grantor agrees to pay and perform in a timely manner;
<br />(b) Grantor is in compliance in all respects with all applicable federal, state and local laws and regulations, including, without limitation, those relating to
<br />"Hazardous Materials," as defined herein, and other environmental matters (the "Environmental Laws'), and neither the federal government nor any
<br />other governmental or quasi governmental entity has filed a lien on the Property, nor are there any governmental, judicial or administrative actions with
<br />respect to environmental matters pending, or to the best of the Grantor's knowledge, threatened, which involve the Property. Neither Grantor nor, to the
<br />best of Grantor's knowledge, any other party has used, generated, released, discharged, stored, or disposed of any Hazardous Materials as defined
<br />herein, in connection with the Property or transported any Hazardous Materials to or from the Property. Grantor shall not commit or permit such actions
<br />to be taken in the future. The term "Hazardous Materials" shall mean any substance, material, or waste which is or becomes regulated by any
<br />governmental authority including, but not limited to, (i) petroleum; (ii) friable or nonfriable asbestos; (iii) polychlorinated biphenyls; (iv) those substances,
<br />materials or wastes designated as a "hazardous substance" pursuant to Section 311 of the Clean Water Act or listed pursuant to Section 307 of the
<br />Clean Water Act or any amendments or replacements to these statutes; (v) those substances, materials or wastes defined as a "hazardous waste"
<br />pursuant to Section 1004 of the Resource Conservation and Recovery Act or any amendments or replacements to that statute; and (vi) those
<br />substances, materials or wastes defined as a "hazardous substance" pursuant to Section 101 of the Comprehensive Environmental Response,
<br />Compensation and Liability Act, or any amendments or replacements to that statute or any other similar state or federal statute, rule, regulation or
<br />ordinance now or hereafter in effect. Grantor shall not lease or permit the sublease of the Property to a tenant or subtenant whose operations may
<br />result in contamination of the Property with Hazardous Materials or toxic substances;
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<br />66200108976860001
<br />004�85 / /VJN01 14
<br />V
<br />MICHAEL JAMES SEMM, LINDA CAROL SEMM, HUSBAND AND WIFE
<br />507 -70 -0897
<br />TRUSTEE: Q.S. BANK NATIONAL ASSOCIATION
<br />FARGO, ND 58103
<br />or
<br />or tuture umgations, as
<br />niay neremaner De aavancea or incurrea ano the trust nereinaner mentioned and other good and valuable consideration, the receipt and sufficiency of which
<br />are hereby acknowledged, Grantor hereby irrevocably warrants, bargains, sells, transfers, grants, conveys and assigns to Trustee, his successors and
<br />assigns, IN TRUST WITH POWER OF SALE for the benefit and security of U. S. BANK NATIONAL ASSOCIATION ND
<br />( "Lender'), the
<br />beneficiary under this Deed of Trust, under and subject to the terms and conditions herein set fort h, with right of entry and possession all of Grantor's present
<br />and future estate, right, title and interest in and to the real property described in Schedule A which is attached to this Deed of Trust and incorporated herein
<br />by this reference, together with all present and future improvements and fixtures; all tangible personal property including without limitation all machinery,
<br />equipment, building materials, and goods of every nature (excluding consumer goods) now or hereafter located on or used in connection with the real
<br />property, whether or not affixed to the land; privileges, hereditaments, and appurtenances including all development rights associated with the Property,
<br />whether previously or subsequently transferred to the Property from other real property or now or hereafter susceptible of transfer from this Property to other
<br />real property; leases, licenses and other agreements; rents, issues and profits; water, well, ditch, reservoir and mineral rights and stocks pertaining to the real
<br />property (cumulatively "Property "); to have and to hold the Property and the rights hereby granted for the use and benefit of Lender, his successors and
<br />assigns, until payment in full of all Obligations secured hereby.
<br />Moreover, in further consideration, Grantor does, for Grantor and Grantor's heirs, representatives and assigns, hereby expressly warrant, covenant, and
<br />agree with Lender and Trustee and their successors and assigns as follows:
<br />1. OBLIGATIONS. This Deed of Trust shall secure the payment and performance of all present and future indebtedness, liabilities, obligations and
<br />covenants of Borrower or Grantor (cumulatively "Obligations ") to Lender pursuant to:
<br />(a) this Deed of Trust and the following promissory notes and other agreements:
<br />39,425.00 1 03/01/00 1 03/15/20 166200108976860001
<br />(b) all other present or future, written agreements wfflff-Eeincler that refer specifically tot is Deed of rust (whether exec u-ted or the same or different
<br />purposes than the foregoing);
<br />(c) any guaranty of obligations of other parties given to Lender now or hereafter executed that refers to this Deed of Trust;
<br />(d) future advances, whether obligatory or optional, to the same extent as if made contemporaneously with the execution of this Deed of Trust, made or
<br />extended on behalf of Grantor or Borrower. Grantor agrees that if one of the Obligations is a line of credit, the lien of this Deed of Trust shall continue
<br />until payment in full of all debt due under the line notwithstanding the fact that from time to time (but before termination of the line) no balance may be
<br />outstanding. At no time during the term of this Deed of Trust or any extension thereof shall the unpaid and outstanding secured principal future
<br />advances, not including sums advanced by Lender to protect the security of this Deed of Trust, exceed the following amount:
<br />This provision shall not constitute an obligation upon or commitment of Lender to make additional advances or loans to Grantor; and
<br />(e) all amendments, extensions, renewals, modifications, replacements or substitutions to any of the foregoing.
<br />As used in this Paragraph 1, the terms Grantor and Borrower shall include and also mean any Grantor or Borrower if more than one.
<br />2. REPRESENTATIONS, WARRANTIES AND COVENANTS. Grantor represents, warrants and covenants to Lender that:
<br />(a) Grantor has fee simple marketable title to the Property and shall maintain the Property free of all liens, security interests, encumbrances and claims
<br />except for this Deed of Trust and those described in Schedule B, which is attached to this Deed of Trust and incorporated herein by reference, which
<br />Grantor agrees to pay and perform in a timely manner;
<br />(b) Grantor is in compliance in all respects with all applicable federal, state and local laws and regulations, including, without limitation, those relating to
<br />"Hazardous Materials," as defined herein, and other environmental matters (the "Environmental Laws'), and neither the federal government nor any
<br />other governmental or quasi governmental entity has filed a lien on the Property, nor are there any governmental, judicial or administrative actions with
<br />respect to environmental matters pending, or to the best of the Grantor's knowledge, threatened, which involve the Property. Neither Grantor nor, to the
<br />best of Grantor's knowledge, any other party has used, generated, released, discharged, stored, or disposed of any Hazardous Materials as defined
<br />herein, in connection with the Property or transported any Hazardous Materials to or from the Property. Grantor shall not commit or permit such actions
<br />to be taken in the future. The term "Hazardous Materials" shall mean any substance, material, or waste which is or becomes regulated by any
<br />governmental authority including, but not limited to, (i) petroleum; (ii) friable or nonfriable asbestos; (iii) polychlorinated biphenyls; (iv) those substances,
<br />materials or wastes designated as a "hazardous substance" pursuant to Section 311 of the Clean Water Act or listed pursuant to Section 307 of the
<br />Clean Water Act or any amendments or replacements to these statutes; (v) those substances, materials or wastes defined as a "hazardous waste"
<br />pursuant to Section 1004 of the Resource Conservation and Recovery Act or any amendments or replacements to that statute; and (vi) those
<br />substances, materials or wastes defined as a "hazardous substance" pursuant to Section 101 of the Comprehensive Environmental Response,
<br />Compensation and Liability Act, or any amendments or replacements to that statute or any other similar state or federal statute, rule, regulation or
<br />ordinance now or hereafter in effect. Grantor shall not lease or permit the sublease of the Property to a tenant or subtenant whose operations may
<br />result in contamination of the Property with Hazardous Materials or toxic substances;
<br />
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