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<br /> WHEN REC�RDED IIAAIL T�:
<br /> Exchenge Benk
<br /> GI-Allen Dr��e Br�nch
<br /> 1��4 Allen Dr
<br /> PO Box 5793
<br /> Gr�nd Island NE 588�2 F�R RECaRDER'S USE�NLY
<br /> C�NSTRUCTI�N DEED �F TRUST
<br /> THIS DEED �F TRUST IS A ��NSTRUCTI�N SECURITY AGREEMENT
<br /> IN�THIN THE MEANING UF THE NEBRASKA C�NSTRUCTI�N LtEN ACT
<br /> TH15 DEED �F TRUST is dated March 'I�, 2�7 7. amang Canfield �onstruction, L.L.�., A
<br /> Nehr�ska Limited Liability Company �"Trustor"�; Exchange 8ank, whase address is GI - Allsn
<br /> Dri�e Branch, 12�4 Al�en Dr. P� 8ox 5793. Grand �sland. NE 688�2 �referred t� below
<br /> sometimes as "Lender" and sam�times as "Beneficiary"y; and Exchang� Bank. whase address is
<br /> P�B 7��. Gibbon. NE �884� �referr�d ta below as "Trustee"j.
<br /> C�NVEYANCE AND GRANT. For�aluahle consideration, Trustor con�eys#o Trustee in#rust. WITH PDWER ❑F SALE,
<br /> for the benefit vf Lender �s Beneficiery, all of Trustor's right, title. and interest in and to the following described real
<br /> property� together with all existing or subsequently erected ❑r affixed buildings. impro�ements and fixtures; all
<br /> easements. r�ghts of way, and appurtenan�es; all water. water rights and ditch rights ��n��uding stock in utilities with
<br /> ditch or irrigatian rights�; and all other rights. r�yalties, and pro#its�relating to the r�al property.,inc�uding without
<br /> limitat+on all minerals, vil, gas, geothermal and similar matters, �th� Real Property � f�cated in Hall County,
<br /> State af IVebraska:
<br /> Lot Thirty Fi►►e �3�y, LARUE Third Subdi��sion, in the City of Grand fsfand, Hal� County,
<br /> Nebraska
<br /> The R�a� Qroperty or its address is commvnly known as 7'11 Stanewoo�l A�enue. Grand Island,
<br /> NE �88�3.
<br /> �R�SS-C�LLATERALIZAT�QN. In addition to the Note, this Deed of Trust secures a�l ohligations, d�hts and liabilities,
<br /> plus int�r�st thereon, of Trustor t� Lender, or any one or mvre o#them, as well as al� claims by Lender against Trustor
<br /> or any one vr more vf them, whether now existing or hereafter arising, whether related ar unrelated to #he purpos� of
<br /> the Note, whe#her �oluntary vr otherwise, whe#her due or not due, direct vr �ndirect, determined ❑r undstsrmined,
<br /> abso�ute or con#ingent, liquidated ar unliquidated, whether Trustor may �e liable indi�idually or jaintly with others,
<br /> whether vhligated as guarantor, surety, accommodatian party or vtherwise. and whether reco�ery upfln such amounts
<br /> may be or hereafter may become barred by any statute of limitations, and whether the o�iigation to repay su�h amounts
<br /> may be ar herea##er may hecome otherw�se unen#orceable.
<br /> FUTURE ADVANCES. in additian t�the Note. this D�ed of Trust secures all future ad�ances made by Lender t❑Trustor
<br /> whether ar not the ad�ances are made pursuant to a �ommitment. Specifically. without iimitation, this Deed of Trust
<br /> se�ures, in addition to #he amounts specified in the Nate, all future amounts Lender in �ts discretion may loan to
<br /> Trustor. tog�ther with all interest thereon.
<br /> Trus�or presently assigns ta Lend�r tals� knawn as B�ne�iciary in this Deed of Trusty alf of Trustor's righ#, title, and
<br /> interest in and to all present and futur� I�ases af the Prvperty and all Rents frvm the Property. In addition, Trustor
<br /> grants ta Lender a Unifvrm Cammer�ial Code se�urity interest in th�Personal Prap�rty and Rents.
<br /> THIS DEED�F TRUST. �NCLUDING THE AS51GNilAENT�F RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERS�NAL PR�PERTY, IS GIVEN T� SECURE tA] PAYMENT QF THE INDEBTEDNESS AND �Bj PERFORMANCE�F
<br /> ANY AND ALL OBLfGATI�NS UNDER THE N�TE, THE RELATED D�CUIVIENTS. AND THIS DEED �F TRUST. THIS
<br /> DEED �F TRUST, INCLUDING THE A551GNMENT �F RENTS AND THE SECURITY INTEREST IN THE RENTS AND
<br /> PERSaNAL PR�PERTY, IS ALS� GlVEN T❑ SECURE ANY AND ALL DF TRUST�R'S DBLIGATIDNS UNOER THAT
<br /> CERTAIN CaNSTRIJCTI�N L�AN AGREENIENT BETWEEN TRUST�R AND LENDER �F EVEN DATE HEREWITH. ANY
<br /> EVENT �F DEFAVLT UN�ER THE C�NSTRUCTION LQAN AGREEIIAENT, aR ANY �F THE RELATED D�CUMENTS
<br /> REFEF�RED T� THE�EIN, SHALL ALSD BE AN EVENT �F DEFAULT UN�ER THIS DEED �F TRIJST. THIS DEED aF
<br /> TRUST IS GIVEN AND ACCEPTED�N THE F�LL�WING TERMS:
<br /> PAYMENT AND PERF�RMANCE. Except as atherwise pro�ided in this Deed of Trust, Trustor shalf pay to Lender al1
<br /> amvun#s secured by this Deed of Trust as they become du�, and shalf strict�y and in a timeiy manner perform all of
<br /> Trustor's vbligations under the Note. th�s Deed of Trust, and the Reiated D�cuments.
<br /> CflNSTRUCTIDN M�RTGAGE. This Deed of Trust is a "constructivn martgage" fvr �he purposes of 5ections 9-334
<br /> and �A-309 of the Uniform Cvmmer�ial Cade, as those s�ctions ha�e been advpted by the 5tate❑f Nehraska.
<br /> PL]S5E551�N AND MAINTENANCE �F THE PRDPERTY. Trustor agrees that Trustor's possessivn and use of the
<br /> Property shall he ga��rned by the fvllowEng pro�isions:
<br /> Possession and lJse. Until the v�currence of an E�ent of D�fault, Trustvr may �1 f remain in passession and
<br /> cont�ol of the Property; �2} use, vperate or manage ths Property; and �3f calleGt the Rents from the Property.
<br /> Duty to M�intain. Trustor shall maintain the Property in t�nantabl� condition and prvmptly perform al� repairs,
<br /> replacements. and maintenance necessary to preser�e its�alue.
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