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WHEN RECORDED MAIL TO:
<br />HOME STATE BANK
<br />MAIN OFFICE
<br />P.O. BOX 429
<br />218 MAIN ST.
<br />DEED OF TRUST
<br />200102260
<br />0
<br />THIS DEED OF TRUST is dated February 27, 2001, among Thomas D. Mangelsen, a single person, whose
<br />address is 12605 Fairview Court, Springfield, NE 68059; ( "Trustor "); HOME STATE BANK, whose address is
<br />MAIN OFFICE, P.O. BOX 429, 218 MAIN ST., LOUISVILLE, NE 68037 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary "); and William R. Reinsch, whose address is 545 Main Street,
<br />Plattsmouth, NE 68048 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the realproperty, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL County, State of
<br />Nebraska:
<br />THE SOUTHERLY ONE -THIRD OF THE NORTHWEST QUARTER OF SECTION 10, TOWNSHIP 11, RANGE
<br />11 WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, SUBJECT TO PUBLIC ROADS AND /OR
<br />HIGHWAYS
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title. and interest in and to all present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti- deficiency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and 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 control of the Property; (2)
<br />use, operate or manage the Property; and (3) collect the Rents from the Property. Real Property and collect the Rents.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br />remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance in violation of any Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make
<br />sucn inspections and tests as Lenaer may deem appropilate io determine compiiance of the Properiy with this saction of the Deed of Trust.
<br />Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws, and (2) agrees to indemnify and hold harmless Lender against any and all claims and losses
<br />resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnity shall survive the payment of the Indebtedness
<br />and the satisfaction of this Deed of Trust.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this
<br />Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive
<br />general liability insurance in such coverage amounts as Lender may request with
<br />Trustee. The word "Trustee" means William R. Reinsch, whose address is 545 Main Street, Plattsmouth, NE 68048 and any substitute or
<br />successor trustees. and Lender being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain
<br />such other insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require.
<br />Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of
<br />insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10)
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<br />DEED OF TRUST
<br />200102260
<br />0
<br />THIS DEED OF TRUST is dated February 27, 2001, among Thomas D. Mangelsen, a single person, whose
<br />address is 12605 Fairview Court, Springfield, NE 68059; ( "Trustor "); HOME STATE BANK, whose address is
<br />MAIN OFFICE, P.O. BOX 429, 218 MAIN ST., LOUISVILLE, NE 68037 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary "); and William R. Reinsch, whose address is 545 Main Street,
<br />Plattsmouth, NE 68048 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the realproperty, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL County, State of
<br />Nebraska:
<br />THE SOUTHERLY ONE -THIRD OF THE NORTHWEST QUARTER OF SECTION 10, TOWNSHIP 11, RANGE
<br />11 WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, SUBJECT TO PUBLIC ROADS AND /OR
<br />HIGHWAYS
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title. and interest in and to all present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti- deficiency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and 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 control of the Property; (2)
<br />use, operate or manage the Property; and (3) collect the Rents from the Property. Real Property and collect the Rents.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br />remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance in violation of any Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make
<br />sucn inspections and tests as Lenaer may deem appropilate io determine compiiance of the Properiy with this saction of the Deed of Trust.
<br />Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws, and (2) agrees to indemnify and hold harmless Lender against any and all claims and losses
<br />resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnity shall survive the payment of the Indebtedness
<br />and the satisfaction of this Deed of Trust.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br />services rendered or material furnished to the Property. Trustor shall maintain the Property free of all liens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this
<br />Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Trustor shall also procure and maintain comprehensive
<br />general liability insurance in such coverage amounts as Lender may request with
<br />Trustee. The word "Trustee" means William R. Reinsch, whose address is 545 Main Street, Plattsmouth, NE 68048 and any substitute or
<br />successor trustees. and Lender being named as additional insureds in such liability insurance policies. Additionally, Trustor shall maintain
<br />such other insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require.
<br />Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies
<br />reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of
<br />insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least ten (10)
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