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WHEN RECORDED MAIL TO: 200301713
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box 5018
<br />Grand Island, NE 66802_ FOR RECORDER'S USE ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated February 6, 2003, among Douglas A. Boon and Jennifer M. Boon, whose
<br />address is 1710 Allegheny Circle, Grand Island, NE 68801 ("Trustor"); United Nebraska Bank, whose address
<br />is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary "); and United Nebraska Bank , whose address Is 700 N. Webb, Grand Island. NE
<br />68802 (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 />subseeuently 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 other rights, royalties, and profits relating to the real
<br />property, Including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located In Hall
<br />County, State of Nebraska:
<br />Lot Eleven (11), Morningside Acres Third Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 1710 Allegheny Circle, Grand Island, NE 68801.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Toaster's right, title, and interest in 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 />Cade security 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 THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST 15 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
<br />this 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
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a 'construction mortgage" for the purposes of Sections 9 -334 and 2A 309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (t) remain in possession and control of the Property;
<br />12) use operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property In good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Truster represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, 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 of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, Ile) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or Ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender In writing, (al neither Truster nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and Ib) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Truster authorizes Lander 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 Lender 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 are based on Trustor's due diligence In investigating the Property for Hazardous Substances. Trustor
<br />hereby 111 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, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Truster's ownership or Interest in the Property, whether or not the same was or should have been known to Truster.
<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 reconveyance of the lien of this Deed of Trust and shall not he affected by Lender's acquisition
<br />of any interest in the 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
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Truster shall net demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
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<br />WHEN RECORDED MAIL TO: 200301713
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box 5018
<br />Grand Island, NE 66802_ FOR RECORDER'S USE ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated February 6, 2003, among Douglas A. Boon and Jennifer M. Boon, whose
<br />address is 1710 Allegheny Circle, Grand Island, NE 68801 ("Trustor"); United Nebraska Bank, whose address
<br />is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary "); and United Nebraska Bank , whose address Is 700 N. Webb, Grand Island. NE
<br />68802 (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 />subseeuently 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 other rights, royalties, and profits relating to the real
<br />property, Including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located In Hall
<br />County, State of Nebraska:
<br />Lot Eleven (11), Morningside Acres Third Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 1710 Allegheny Circle, Grand Island, NE 68801.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Toaster's right, title, and interest in 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 />Cade security 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 THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST 15 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
<br />this 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
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a 'construction mortgage" for the purposes of Sections 9 -334 and 2A 309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Truster may (t) remain in possession and control of the Property;
<br />12) use operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property In good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Truster represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, 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 of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, Ile) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or Ic) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender In writing, (al neither Truster nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and Ib) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Truster authorizes Lander 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 Lender 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 are based on Trustor's due diligence In investigating the Property for Hazardous Substances. Trustor
<br />hereby 111 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, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a breach of this
<br />section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Truster's ownership or Interest in the Property, whether or not the same was or should have been known to Truster.
<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 reconveyance of the lien of this Deed of Trust and shall not he affected by Lender's acquisition
<br />of any interest in the 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
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Truster shall net demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
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