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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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 8140.000.00.
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<br />THIS DEED OF TRUST is dated August 5. 2002, among CHARLENE D GATES and MICHAEL A GATES, WIFE
<br />AND HUSBAND ( "Trustor "l; Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand
<br />Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and Five Points
<br />Bank, whose address is P.O Be- 1507, Grand Island, NE 68802 -1507 (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 />Leader es Beneficiary, all of Trusts'. 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 other rights, royalties, and profits relating to the reel
<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 />See EXHIBIT "A ", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
<br />set forth herein.
<br />The Real Property or Its address is commonly known as 10512 ONE -R RD, CAIRO, NE 68824. The Real
<br />Property tax identification number is 400190710
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in sodium to the amounts specified in the Note, ail
<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 $140,000.00.
<br />Traitor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Truster'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, Toaster 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, 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, Truster 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 />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 (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in goad 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'a ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
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<br />WHEN RECORDED MAIL TO:
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<br />Five Points Bank
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<br />West Branch
<br />2009 N. Diers Ave.
<br />FOR RECORDER'S USE ONLY
<br />G d 1 1 d NE 68803
<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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 8140.000.00.
<br />Cv,l�
<br />M AC=C
<br />\ X
<br />c
<br />THIS DEED OF TRUST is dated August 5. 2002, among CHARLENE D GATES and MICHAEL A GATES, WIFE
<br />AND HUSBAND ( "Trustor "l; Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand
<br />Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and Five Points
<br />Bank, whose address is P.O Be- 1507, Grand Island, NE 68802 -1507 (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 />Leader es Beneficiary, all of Trusts'. 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 other rights, royalties, and profits relating to the reel
<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 />See EXHIBIT "A ", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
<br />set forth herein.
<br />The Real Property or Its address is commonly known as 10512 ONE -R RD, CAIRO, NE 68824. The Real
<br />Property tax identification number is 400190710
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in sodium to the amounts specified in the Note, ail
<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 $140,000.00.
<br />Traitor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Truster'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, Toaster 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, 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, Truster 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 />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 (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in goad 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'a ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
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