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<br />DEC -26 -01 WED 08:30 PM
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<br />WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />2nd.and Vine
<br />P. O. Box 246 FOR RECORDER'S 11SE ONLY_
<br />Silver Creek NE 66663 -0246
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $324,000.00.
<br />THIS DEED OF TRUST is dated December 21, 2001, among Chad W. Furley, whose address is 4316
<br />Claussen Road, Grand Island, NE 68801. and Jennifer L. Furley, whose address is 4315 Clausen Road,
<br />Grand Island, NE 68801; husband and wife as joint debtors ( "Trustor "); Farmers State Bank, whose address
<br />is 2nd and Vine; P. O:: Box 246, Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truslor conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneflclary, all of Trustees right, Ilde, 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 feat pro arty induct
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County, $fate 0T
<br />Nebraska:
<br />Lot Seven, (7), in Block Three (3), in Schimmer's Addition to the City of Grand Island, Hall County,
<br />Nebraska
<br />The Real Property or its address is commonly known as 518 West 12th Street, Grand Island, NE 68801.
<br />CROSS- COLL:ATERALIZATiON. In addition to the Nole, this Deed of Trust secures al( obligations, debts and liabilities, plus inleree thereon, of
<br />Trustor to Lender, or any one or more of them, as well as all claims by Lender against Truslor or any one or more of them, whether now existing
<br />or hereafter arising, whether *related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />indirect,' determined or undetermined, absoluto.or contingent, liquidated or'unliquldated whether Trustor may be liable individually or jointly with
<br />others,; whether obligated as guarantor, surely, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter
<br />may become barred by any. statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, In addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to 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 Interest in and to all present
<br />and future leases of the Property and all Rents from the Property. In addition, Truslor grants to Lender a Uniform Commercial Coda 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 T.0 SECURE (A) PAYMENT' OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER 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 Trustor's possession and use of theProperly shall be governed by
<br />the following p'rovisio'ns:
<br />Possession and Use. Unfit 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 Properly; and (3) collect the Rents from the Property.
<br />Duly to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance
<br />necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustors ownership of
<br />the Property, there has boon no use. ganeration, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substanoe.by any person on, under,. about or from the Property; (2) Truslor 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 />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Properly; and (b) any such activity shad 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 tender 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 Truslor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence In Investigating the Property for Hazardous
<br />Substances. Truslor 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. Indemnity and hold harmless Lender against any and all
<br />claims,, losses, liabilities, damages. penaltles, 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 uso, generation, manufacture, Storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest In the Properly, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of.ths Deed of Trust, including the obligation to Indemnity, 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 Lenders acquisition of any Interest in the
<br />Property,.whether by foreclosure or otherwise.
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