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WHEN RECORDED MAIL TO: r-a N ~
<br />Bank of Clarks N Z
<br />301 N. Green
<br />P.O. Box 125
<br />CI k NE 66628 0125 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Dead of Trust shall not exceed at any one time $50,000.00.
<br />THIS DEED OF TRUST is dated March 22, 2004, among Down M. Peard, a single person, whose address is
<br />1504 Mansfield, Grand Island, NE 68803 1 "Trustor "1: Bank of Clarks, whose address is 301 N. Green, P.O.
<br />Box 125, Clarks, NE 68628 -0125 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and Bank of Clarks, whose address is P.O. Box 125, Clarks, NE 68628 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lander as Beneficiary, all of Truster '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
<br />rights and ditch rights )including stock In utilities with ditch or irrigation rights): and all Otber rights, royalties, and profits elating to the real
<br />property, including without limitation all minerals, og, gas, geothermal and simear matters. (the "Real Property' 1 located in Hall
<br />County, State of Nebraska:
<br />The Westerly Thirty -six Feet136'1 of Lot Six 16), Block Nine (9), in the Original Town, now City of Grand
<br />Island, Hall County, Nebraska.
<br />The Real Property or Its address is commonly known as 316 W. 6th, Grand Island, NE 68801.
<br />FUTURE ADVANCES. S,dinhrally, without limitation, this Dead of Trust secures, in addition to the amounts specified In the Note, all
<br />future amounts Lender In Its discretion may loan to Truster, together with all interest thereon; however, in no event shall such future
<br />advances (excluding Interest) exceed In the aggregate $50,000.00.
<br />Truster presently assigns to Lender )also known as Beneficiary in this Dead of Trust) all of Truster's right, title, and Interest m and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rants.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, 16 GIVEN TO SECURE UD PAYMENT OF THE INDEBTEDNESS AND (e) 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 Dead of Trust, Truster shell pay to Lander au amounts secured by
<br />this Dead of Trust as they become due, and shall strictly and In a timely manner perform all Of Truster 'a obllgabons under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Properly shall be
<br />governed by the following provisions'.
<br />Possession and Use. Until the occurrence of an Event Of Default, Truster may (1) remain in possession and center of the Vrepprty;
<br />(2) use, Operate Or manage the Property; and (3) collect the Rents from the Property
<br />Duty to Maintain. Truster shall malnta'm the Property in tenantable oendltion and promptly perform all repairs, repla iervnts, and
<br />maintenance necessary to porkerve its value.
<br />Compliance With Environmental Laws. Truster represents and wa ants to Lander that; (1) During the period of Trustre S ownership
<br />of the Property, there has been he use, generation, manufacturer storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Truster has no knowledge el. or reason to believe
<br />that there has bean, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, or any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance an, under, ubeur or from the Property by any prier Owners or occupants of the Property, Or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such mums; and (31 Except as previously disclosed to and
<br />acknewledged by Lander in writing, (a) neither Trustor nor any tenant contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, sure, true[, dispose of nr release any Hazardous Substancn on, under, about or uom the Property;
<br />and (b1 any such ecnrity shall be conducted In compliance with all applicable federal, state, and local laws, regulations and
<br />ordlnencee, Including without limitation all Environmental Laws. Truster authorizes Lender and Its agents to enter upon the Property
<br />to make such inspections and tests', at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any Inspections Or tests made by Lander shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein a u based on Truemr's due diligence In investigating the Property for Hazardous Substances. Trusmr
<br />hereby 01 releases and waives any future de Ims against Lender for Indemnity or contribution in the event Trustor becomes Ila Me for
<br />cleanup or other costs under any such laws; and 12) agrees to intlemnify and hold harmless Lander againat any and all claims, losses,
<br />IIebil6ae, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting Irom a breech of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, dispose), release or threatened release
<br />occurring prior to Truster 'a 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
<br />Indebtedness and the satisfaction and reconvcyance Of the Ilan at this Deed of Trust and shall not be affected by Lender's eequlentmn
<br />of any Interest in the Property, whether by foreclosure Or otherwise.
<br />Nuisance, Waste. Truster shell not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or In the Property Or any portion of the Property. Without limiting the generality of the foregoing, Truster will not remove. or grant no
<br />any other parry the right tp r any timed, minerals (including oil and gus) , ims, clay, scoria, sin, gravel or rook products
<br />wlNout Lander's prier written Consent
<br />Removal of Improvements. Truster shall not demolish or remove any Improvements from the Real Property without Lender 'c prior
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<br />WHEN RECORDED MAIL TO: r-a N ~
<br />Bank of Clarks N Z
<br />301 N. Green
<br />P.O. Box 125
<br />CI k NE 66628 0125 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Dead of Trust shall not exceed at any one time $50,000.00.
<br />THIS DEED OF TRUST is dated March 22, 2004, among Down M. Peard, a single person, whose address is
<br />1504 Mansfield, Grand Island, NE 68803 1 "Trustor "1: Bank of Clarks, whose address is 301 N. Green, P.O.
<br />Box 125, Clarks, NE 68628 -0125 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and Bank of Clarks, whose address is P.O. Box 125, Clarks, NE 68628 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lander as Beneficiary, all of Truster '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
<br />rights and ditch rights )including stock In utilities with ditch or irrigation rights): and all Otber rights, royalties, and profits elating to the real
<br />property, including without limitation all minerals, og, gas, geothermal and simear matters. (the "Real Property' 1 located in Hall
<br />County, State of Nebraska:
<br />The Westerly Thirty -six Feet136'1 of Lot Six 16), Block Nine (9), in the Original Town, now City of Grand
<br />Island, Hall County, Nebraska.
<br />The Real Property or Its address is commonly known as 316 W. 6th, Grand Island, NE 68801.
<br />FUTURE ADVANCES. S,dinhrally, without limitation, this Dead of Trust secures, in addition to the amounts specified In the Note, all
<br />future amounts Lender In Its discretion may loan to Truster, together with all interest thereon; however, in no event shall such future
<br />advances (excluding Interest) exceed In the aggregate $50,000.00.
<br />Truster presently assigns to Lender )also known as Beneficiary in this Dead of Trust) all of Truster's right, title, and Interest m and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rants.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, 16 GIVEN TO SECURE UD PAYMENT OF THE INDEBTEDNESS AND (e) 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 Dead of Trust, Truster shell pay to Lander au amounts secured by
<br />this Dead of Trust as they become due, and shall strictly and In a timely manner perform all Of Truster 'a obllgabons under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Properly shall be
<br />governed by the following provisions'.
<br />Possession and Use. Until the occurrence of an Event Of Default, Truster may (1) remain in possession and center of the Vrepprty;
<br />(2) use, Operate Or manage the Property; and (3) collect the Rents from the Property
<br />Duty to Maintain. Truster shall malnta'm the Property in tenantable oendltion and promptly perform all repairs, repla iervnts, and
<br />maintenance necessary to porkerve its value.
<br />Compliance With Environmental Laws. Truster represents and wa ants to Lander that; (1) During the period of Trustre S ownership
<br />of the Property, there has been he use, generation, manufacturer storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Truster has no knowledge el. or reason to believe
<br />that there has bean, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, or any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance an, under, ubeur or from the Property by any prier Owners or occupants of the Property, Or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such mums; and (31 Except as previously disclosed to and
<br />acknewledged by Lander in writing, (a) neither Trustor nor any tenant contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, sure, true[, dispose of nr release any Hazardous Substancn on, under, about or uom the Property;
<br />and (b1 any such ecnrity shall be conducted In compliance with all applicable federal, state, and local laws, regulations and
<br />ordlnencee, Including without limitation all Environmental Laws. Truster authorizes Lender and Its agents to enter upon the Property
<br />to make such inspections and tests', at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any Inspections Or tests made by Lander shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein a u based on Truemr's due diligence In investigating the Property for Hazardous Substances. Trusmr
<br />hereby 01 releases and waives any future de Ims against Lender for Indemnity or contribution in the event Trustor becomes Ila Me for
<br />cleanup or other costs under any such laws; and 12) agrees to intlemnify and hold harmless Lander againat any and all claims, losses,
<br />IIebil6ae, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting Irom a breech of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, dispose), release or threatened release
<br />occurring prior to Truster 'a 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
<br />Indebtedness and the satisfaction and reconvcyance Of the Ilan at this Deed of Trust and shall not be affected by Lender's eequlentmn
<br />of any Interest in the Property, whether by foreclosure Or otherwise.
<br />Nuisance, Waste. Truster shell not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or In the Property Or any portion of the Property. Without limiting the generality of the foregoing, Truster will not remove. or grant no
<br />any other parry the right tp r any timed, minerals (including oil and gus) , ims, clay, scoria, sin, gravel or rook products
<br />wlNout Lander's prier written Consent
<br />Removal of Improvements. Truster shall not demolish or remove any Improvements from the Real Property without Lender 'c prior
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