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WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />200200479 2nd and Vine
<br />P.O. Box 246
<br />Silver k ME 68663 -0246 FOR RECORDER'S UBE ONLY
<br />DEED OF TRUST ��
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $254,000.00.
<br />THIS DEED OF TRUST is dated January 11, 2002, among O U R Investments, LLC, whose address is 1821
<br />East Capital Avenue, Grand Island, NE 68801 ( "Trustor "); Farmers State Bank, whose address is 2nd and
<br />Vine, P. O. Box 246, Silver Creek, NE 68663-0246 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Farmers State Bank, whose address is P. O. Box 246, Silver Creek, NE
<br />68663 -0246 (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, tine, and interest in and to the following described real property, together with all existing Or
<br />subsequently erected Or Stood 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 real property incuding
<br />without limitation all minerals, oil, gas, geothermal and similar matters. (the "Real Property ") located In Hall County, State O(
<br />Nebraska:
<br />The Southerly One Hundred Thirty (130) feel of the West Half (W112) of Block Fourteen (14), Pleasant
<br />Home�qfr�tieB tU the City of Grand Island, Hell County, Nebraska
<br />Sob3 ivzsion
<br />The Real Property or its address Is commonly known as 1523 South Sylvan, Grand Island, NE 68801.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Borrower to Lender, or any one Or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
<br />threat or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Borrower or Truster may be liable !
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be Or hereafter may become barred by any statute of limitations, and whether the Obligation to repay such amounts may be or
<br />hereafter may become Otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust wares, in addition to the amounts specified in the Note, all future
<br />amounts Lender In Its discretion may Ivan to Borrower, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Dead of Trust) all of Truster's right, title, and interest In and to all present
<br />and future losses of the Property and all Rents hom 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 />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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Truster warrants that: (a) this Deed of Trust is exocuted at Borrower's request and not
<br />at the request of Lender; (b) Trustor has the full power, night, and authority to enter into this Dead of Trust and to hypothecate the Property; (c)
<br />the provisions Of this Deed of Trust d0 not conflict with, Or result In a default under any agreement or other instrument binding upon Trustor and
<br />de not result in a violation of any law, regulation, court decree or order applicable to Trustor, (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis information about Bonowar's financial condition; and (e) Lender has made no representation to
<br />Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Truster waives all rights or defenses arising by reason of any "one action" or "an kdandency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise W a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by !,
<br />this Dead of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Dead of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trusters possession and use of
<br />thePropedy shall be governed by the following provisions:
<br />Possession and Use. Until 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 />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 Lewis, (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 makers; 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, stare, best, dispose of or release 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, stale, 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 Trustor's expense, as Lender may deem appropriate to
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<br />WHEN RECORDED MAIL TO:
<br />Farmers State Bank
<br />200200479 2nd and Vine
<br />P.O. Box 246
<br />Silver k ME 68663 -0246 FOR RECORDER'S UBE ONLY
<br />DEED OF TRUST ��
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $254,000.00.
<br />THIS DEED OF TRUST is dated January 11, 2002, among O U R Investments, LLC, whose address is 1821
<br />East Capital Avenue, Grand Island, NE 68801 ( "Trustor "); Farmers State Bank, whose address is 2nd and
<br />Vine, P. O. Box 246, Silver Creek, NE 68663-0246 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Farmers State Bank, whose address is P. O. Box 246, Silver Creek, NE
<br />68663 -0246 (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, tine, and interest in and to the following described real property, together with all existing Or
<br />subsequently erected Or Stood 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 real property incuding
<br />without limitation all minerals, oil, gas, geothermal and similar matters. (the "Real Property ") located In Hall County, State O(
<br />Nebraska:
<br />The Southerly One Hundred Thirty (130) feel of the West Half (W112) of Block Fourteen (14), Pleasant
<br />Home�qfr�tieB tU the City of Grand Island, Hell County, Nebraska
<br />Sob3 ivzsion
<br />The Real Property or its address Is commonly known as 1523 South Sylvan, Grand Island, NE 68801.
<br />CROSS- COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Borrower to Lender, or any one Or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due,
<br />threat or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Borrower or Truster may be liable !
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be Or hereafter may become barred by any statute of limitations, and whether the Obligation to repay such amounts may be or
<br />hereafter may become Otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust wares, in addition to the amounts specified in the Note, all future
<br />amounts Lender In Its discretion may Ivan to Borrower, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Dead of Trust) all of Truster's right, title, and interest In and to all present
<br />and future losses of the Property and all Rents hom 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 />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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Truster warrants that: (a) this Deed of Trust is exocuted at Borrower's request and not
<br />at the request of Lender; (b) Trustor has the full power, night, and authority to enter into this Dead of Trust and to hypothecate the Property; (c)
<br />the provisions Of this Deed of Trust d0 not conflict with, Or result In a default under any agreement or other instrument binding upon Trustor and
<br />de not result in a violation of any law, regulation, court decree or order applicable to Trustor, (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis information about Bonowar's financial condition; and (e) Lender has made no representation to
<br />Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Truster waives all rights or defenses arising by reason of any "one action" or "an kdandency" law, or any other law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a
<br />claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise W a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided In this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by !,
<br />this Dead of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Dead of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trusters possession and use of
<br />thePropedy shall be governed by the following provisions:
<br />Possession and Use. Until 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 />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 Lewis, (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 makers; 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, stare, best, dispose of or release 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, stale, 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 Trustor's expense, as Lender may deem appropriate to
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