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WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 LaBwe
<br />Glbbea,NE""dt
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<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 LaBwe
<br />Glbbea,NE""dt
<br />DEED OF TRUST
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<br />THIS DEED OF TRUST is dated September 21, 2001, among RAYMOND J 0' CONNOR and JENNIFER S
<br />O'CONNOR, whose address Is 422 SOUTH GUNBARREL ROAD, GRAND ISLAND, NE, 68801 ( "Trustor ");
<br />Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to below
<br />sometimes as " Lender" and sometimes as, " Beneficiary"); and (referred to .bPloW as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trvdor corways_ to Trustee M trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, .all of Trustors right, :title,, and. interest in. and to the iollowin_g described reap 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 irrigatipp,rights); and all other rights royalties and profits relating to the real property includin
<br />without limitation all minerals, "oil, gas, geothermal and similar matters; (the "Real broperijf ") located in' HALL County, State of
<br />Nebraska: '
<br />LOTS TWO(2), THREE(3),FIVE(S), SIX(6), SEVEN(7), EIGHT(8) AND NINE(9), IN BLOCK NINE(9),
<br />CONTINENTAL GARDENS SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA(EXCEPT PART TO THE CITY OF GRAND ISLAND FOR ROAD PURPOSES)
<br />The Real Property or Its address is commonly known as 3230 WEST COLLEGE & 2235 -2323 NORTH WEBB
<br />ROAD, GRAND ISLAND, NE 68801.
<br />REVOLVING LINE OF CREDIT. SpecMcsity, in addition to the amounts simlfled in the Indebtedness definition, and without limitation,
<br />this Dead of Trust secures a revolving line of credit, which obligates Lender to make advances to Trustor so long as Trustor compiles
<br />-with all the.,tenns-of *WWa1s:-
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustors 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 />RIDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust,
<br />and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees' that Trustors possession and use of the Property shall be governed
<br />by the following provisions:,
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor.may (t) remain in possession and control of the Property; (2)
<br />use, operate or managelhe Property; and (3) .collect the Rents from the Property., .
<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 />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />agent or other authorized L"mof #* Propd`rty shaft use, generate, manufacture, stme, vrrelease any-
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, Including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such inspections and tests, at Trustors expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustors due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustors ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST is dated September 21, 2001, among RAYMOND J 0' CONNOR and JENNIFER S
<br />O'CONNOR, whose address Is 422 SOUTH GUNBARREL ROAD, GRAND ISLAND, NE, 68801 ( "Trustor ");
<br />Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to below
<br />sometimes as " Lender" and sometimes as, " Beneficiary"); and (referred to .bPloW as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trvdor corways_ to Trustee M trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, .all of Trustors right, :title,, and. interest in. and to the iollowin_g described reap 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 irrigatipp,rights); and all other rights royalties and profits relating to the real property includin
<br />without limitation all minerals, "oil, gas, geothermal and similar matters; (the "Real broperijf ") located in' HALL County, State of
<br />Nebraska: '
<br />LOTS TWO(2), THREE(3),FIVE(S), SIX(6), SEVEN(7), EIGHT(8) AND NINE(9), IN BLOCK NINE(9),
<br />CONTINENTAL GARDENS SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA(EXCEPT PART TO THE CITY OF GRAND ISLAND FOR ROAD PURPOSES)
<br />The Real Property or Its address is commonly known as 3230 WEST COLLEGE & 2235 -2323 NORTH WEBB
<br />ROAD, GRAND ISLAND, NE 68801.
<br />REVOLVING LINE OF CREDIT. SpecMcsity, in addition to the amounts simlfled in the Indebtedness definition, and without limitation,
<br />this Dead of Trust secures a revolving line of credit, which obligates Lender to make advances to Trustor so long as Trustor compiles
<br />-with all the.,tenns-of *WWa1s:-
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustors 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 />RIDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust,
<br />and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees' that Trustors possession and use of the Property shall be governed
<br />by the following provisions:,
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor.may (t) remain in possession and control of the Property; (2)
<br />use, operate or managelhe Property; and (3) .collect the Rents from the Property., .
<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 />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />agent or other authorized L"mof #* Propd`rty shaft use, generate, manufacture, stme, vrrelease any-
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, Including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such inspections and tests, at Trustors expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustors due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened
<br />release occurring prior to Trustors ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior written
<br />consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory to Lender to
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