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<br />WHEN RECORDED MAIL TO: q n p l ( r_J N cm,
<br />Bank of Clarks 2002086 I �7 O)
<br />301 N. Green
<br />P.O. Box 125 FOR RECDRDER'S USE ON4Y
<br />CI ke NE 686200125
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<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 Ilan of this Deed of Trust shall not exceed at any ono time $55,000.00.
<br />THIS DEED OF TRUST Is dated July 31, 2002, among t.enneth D. Schaff, Jr., as husband and debtor, whose
<br />address Is 1216 West 3rd., Grand Island, NE 68801 and Christina J. Schaff, as wife, whose address Is 1216
<br />West 3rd., Grand Island, NE 68801 ( "Truster "); Bank of Clarks, whose address Is 301 N. Green, P.O. Box
<br />125, Clarks, NE 68628.0125 (referred to below sometimes as "Lander" and sometimes as "Beneficiary ");
<br />and Bank of Clarks, whose address Is 301 N. Green, P.O. Box 125, Clarks, NE 68628.0125 (referred to
<br />below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster convoys to Trusloo In trust, WITH POWER OF SALE, for the b bi llt of
<br />Lender: as Beneficiary, all of Tru lob's right, lido, and interest in and to the following described real prepody, together with all existing or
<br />subsequently areelad or allied buildings, Improvements and fixtures; all Shipments, rights of way, and appurtanamCOSI all water, water rights and
<br />ditch rights (including stock in ulI11110s with ditch or irrigation rights); antl nil other rights, ro nllios, and edhis rolasnq to the real property, including
<br />wi deat lief lauon ail mlfemis, oil, gas, gsotOmll and similar rations, (the "Heal i�foperly "� located In Hall County, State of
<br />Nebraska:
<br />Lot One (1), Lambert's Second Subdivision, City of Grand Island, Hail County, Nebraska.
<br />The Real Property or Its address Is commonly known as 1505 East 7th, Grand Island, NE 68801.
<br />FUTURE ADVANCCS. Specifically, without Ilmitatlon, this DOW of Trust secures, In addition to the amounts specifiad In the Note, all future
<br />amounts Lander In its discretion may loan to Borrower, to it h e with all Interest thereon; however, In no event shall such future advances
<br />(excluding interest) exceed in the ayeregate $55,000.00
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Dodd of Trust) alt of Thishor's right, title, and Interest in and to all present
<br />and future losses Of the Properly antl all Rants from the Property. In addition, Toaster grants to Lender a Uniform Commercial Code security
<br />Interest in the Personal Propody and Polls.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />UNDER T E IS NOTE, THE RELATED DOCUMEr TS, AND THIS (DEED OF TRUST, THIS DEED OF
<br />TRUST 1S GIVEN AND ACCEPTED ON OBLIGATIONS E
<br />FOLLOWING TERMS:
<br />TRUSfOR'S FIEPRCSENTATiON3 AND WARRANTIES, I einva wanhnls tot: pg (hlll Dead of Trent in oxwulod al Bofrowar'a ruc6mat and nut
<br />at Ina inquest of Londe, (b) Thaler ties the full Iawpf, right and authority to after Into this Dead )I fruit and to hypothaante me Property; (o)
<br />the provisions of this Good of Trust do not conflict with, or result In a doluull under any agreement or one, instrument binding upon Truster and
<br />do flat result In a violation 01 any law, regulation, court decree of Omar applicable to TrmttOO (d) Trustor has established adwuualo roans 01
<br />obtaining from Borrower on it continuing basis Interdict taut Borrower's financial cool ,I; and (e) Lander has mach no rnprese nation to
<br />Tmslor aboul Borrower (including without limitation the croolvorlhineso of leonowor).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or dofonsos ari8ng by reason of any "ono action' or "antbdolicionCy' law, or any other low
<br />Milan may prevent Lender from bringing any action against Trustor. Including a claim lot deficiency to the extant Lander le otherwise entitled to it
<br />claim for doficiancy, beforo or altar Lnndar's commencement or compialall of any lomickinura action, either judicially or by mourclat of a power of
<br />Salo.
<br />PAYMENT AND PERFORMANCE. Exnepl as otherwise provided in thin Deed of '11 urn, Ourrowar shell pay to Lender all Indebtedness secured by
<br />this DOW of 'trust as it becomes duo, and Borrower and Trader shall strictly perform all their respective ordigalials linear the Note, Yes Deed of
<br />Trust, and the Ralalcd Documonts.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY, Borrower and Trustor agree that Borrower's and Trustor 's possession and ubo of the
<br />Property shall be governed by the following provili
<br />possession and Use. Until the becurrancu of an Event of Default, Trustor may (1) banyan in possession and control of 010 Properly, (2)
<br />uso, discrete or manage the Propony; antl (3) Collect No Rants Iron) rho Prebuilt.
<br />Duty to Maintain, Trustor shall maintain Iho Property In guall C,nallian and pron)plly perform all rapers, loplacemonls, anti reentenafeo
<br />necessary to PletarvO Its value,
<br />Compliance With Environmental Laws. Trustor topicaonls and warrants to Landor that: (1) During the period of Trusters ownership of
<br />an Property, there has been no Use, generation, maneladura, facrage, trainman, doon9 1, release or threatened (olOasa of any Hazardous
<br />Substance by any person on, under, about or front 0ID Properly; (2) Trustor has no knowledge of, or reopen to tletiave mat there has Men,
<br />oxcopt as previously disc101i to and acknewlerlgod by Lender In willing, (a) any reach or violation of any Environmental Laws, (to any
<br />use, generation, manufacture, storage. Yoalmonl, disposal, felraso or YYOalannal mlease at any Hazardous Substance on, under, about or
<br />from the Pmporry by any poor owners or occupants of the Pfupaity, or (c) any actual or threatened litigation or claims of any kind by any
<br />person raising to such matters; and (3) Except as previously disclosed to and eckrawtedged by Lander In wrling (a) neither Tender her
<br />any tonanl, contractor, agent or other oumorc d user of Iho Property shall use, gonnmto, manufacture, atom, (real, dispose of of !slants any
<br />hazardous Subvnrao on, under, about or [rpm the pmpnfly. and Of any such ativlty shall be conducted In compliance with all applicable
<br />Ied,r,0, Slate, an i local lowp. rooUlel0i19 and Olecancos, n011,fIll without Imitation r"1 Environmental Laws. TNnlof aNhOdLOS Lander and
<br />its ag ,ld to enlnr. Mari the Properly to make such Inspections and tusk, rl Tutor's expanse, an Lander any doom approprlola to
<br />dmonnna eumplanCe at rho Property wfill this soctan of Iho Duud of Trust. Any Inapadare of testa made by Leader shalt W for Landoi s
<br />rad,osud holy ufd ,ball not be continued to create any foaptaii y Or liability on tale on of Landor to Trusof or to ally clear parson, Thu
<br />ropmtoninllpoa end w arnman contalnnd ho ien are braid on Taislor's due dsigonaS In invosllgting Iho Property for Hazardous
<br />Sobtnnaon, Hamlet Imreby (1) roimmue and welvall any loftier claims health Landor (or Indorrnlly or uaneibullon In the event T',ealOr
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<br />WHEN RECORDED MAIL TO: q n p l ( r_J N cm,
<br />Bank of Clarks 2002086 I �7 O)
<br />301 N. Green
<br />P.O. Box 125 FOR RECDRDER'S USE ON4Y
<br />CI ke NE 686200125
<br />1
<br />xl]
<br />this
<br />"X.
<br />ffil
<br />_a
<br />F3
<br />ar
<br />u
<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 Ilan of this Deed of Trust shall not exceed at any ono time $55,000.00.
<br />THIS DEED OF TRUST Is dated July 31, 2002, among t.enneth D. Schaff, Jr., as husband and debtor, whose
<br />address Is 1216 West 3rd., Grand Island, NE 68801 and Christina J. Schaff, as wife, whose address Is 1216
<br />West 3rd., Grand Island, NE 68801 ( "Truster "); Bank of Clarks, whose address Is 301 N. Green, P.O. Box
<br />125, Clarks, NE 68628.0125 (referred to below sometimes as "Lander" and sometimes as "Beneficiary ");
<br />and Bank of Clarks, whose address Is 301 N. Green, P.O. Box 125, Clarks, NE 68628.0125 (referred to
<br />below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster convoys to Trusloo In trust, WITH POWER OF SALE, for the b bi llt of
<br />Lender: as Beneficiary, all of Tru lob's right, lido, and interest in and to the following described real prepody, together with all existing or
<br />subsequently areelad or allied buildings, Improvements and fixtures; all Shipments, rights of way, and appurtanamCOSI all water, water rights and
<br />ditch rights (including stock in ulI11110s with ditch or irrigation rights); antl nil other rights, ro nllios, and edhis rolasnq to the real property, including
<br />wi deat lief lauon ail mlfemis, oil, gas, gsotOmll and similar rations, (the "Heal i�foperly "� located In Hall County, State of
<br />Nebraska:
<br />Lot One (1), Lambert's Second Subdivision, City of Grand Island, Hail County, Nebraska.
<br />The Real Property or Its address Is commonly known as 1505 East 7th, Grand Island, NE 68801.
<br />FUTURE ADVANCCS. Specifically, without Ilmitatlon, this DOW of Trust secures, In addition to the amounts specifiad In the Note, all future
<br />amounts Lander In its discretion may loan to Borrower, to it h e with all Interest thereon; however, In no event shall such future advances
<br />(excluding interest) exceed in the ayeregate $55,000.00
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Dodd of Trust) alt of Thishor's right, title, and Interest in and to all present
<br />and future losses Of the Properly antl all Rants from the Property. In addition, Toaster grants to Lender a Uniform Commercial Code security
<br />Interest in the Personal Propody and Polls.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />UNDER T E IS NOTE, THE RELATED DOCUMEr TS, AND THIS (DEED OF TRUST, THIS DEED OF
<br />TRUST 1S GIVEN AND ACCEPTED ON OBLIGATIONS E
<br />FOLLOWING TERMS:
<br />TRUSfOR'S FIEPRCSENTATiON3 AND WARRANTIES, I einva wanhnls tot: pg (hlll Dead of Trent in oxwulod al Bofrowar'a ruc6mat and nut
<br />at Ina inquest of Londe, (b) Thaler ties the full Iawpf, right and authority to after Into this Dead )I fruit and to hypothaante me Property; (o)
<br />the provisions of this Good of Trust do not conflict with, or result In a doluull under any agreement or one, instrument binding upon Truster and
<br />do flat result In a violation 01 any law, regulation, court decree of Omar applicable to TrmttOO (d) Trustor has established adwuualo roans 01
<br />obtaining from Borrower on it continuing basis Interdict taut Borrower's financial cool ,I; and (e) Lander has mach no rnprese nation to
<br />Tmslor aboul Borrower (including without limitation the croolvorlhineso of leonowor).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or dofonsos ari8ng by reason of any "ono action' or "antbdolicionCy' law, or any other low
<br />Milan may prevent Lender from bringing any action against Trustor. Including a claim lot deficiency to the extant Lander le otherwise entitled to it
<br />claim for doficiancy, beforo or altar Lnndar's commencement or compialall of any lomickinura action, either judicially or by mourclat of a power of
<br />Salo.
<br />PAYMENT AND PERFORMANCE. Exnepl as otherwise provided in thin Deed of '11 urn, Ourrowar shell pay to Lender all Indebtedness secured by
<br />this DOW of 'trust as it becomes duo, and Borrower and Trader shall strictly perform all their respective ordigalials linear the Note, Yes Deed of
<br />Trust, and the Ralalcd Documonts.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY, Borrower and Trustor agree that Borrower's and Trustor 's possession and ubo of the
<br />Property shall be governed by the following provili
<br />possession and Use. Until the becurrancu of an Event of Default, Trustor may (1) banyan in possession and control of 010 Properly, (2)
<br />uso, discrete or manage the Propony; antl (3) Collect No Rants Iron) rho Prebuilt.
<br />Duty to Maintain, Trustor shall maintain Iho Property In guall C,nallian and pron)plly perform all rapers, loplacemonls, anti reentenafeo
<br />necessary to PletarvO Its value,
<br />Compliance With Environmental Laws. Trustor topicaonls and warrants to Landor that: (1) During the period of Trusters ownership of
<br />an Property, there has been no Use, generation, maneladura, facrage, trainman, doon9 1, release or threatened (olOasa of any Hazardous
<br />Substance by any person on, under, about or front 0ID Properly; (2) Trustor has no knowledge of, or reopen to tletiave mat there has Men,
<br />oxcopt as previously disc101i to and acknewlerlgod by Lender In willing, (a) any reach or violation of any Environmental Laws, (to any
<br />use, generation, manufacture, storage. Yoalmonl, disposal, felraso or YYOalannal mlease at any Hazardous Substance on, under, about or
<br />from the Pmporry by any poor owners or occupants of the Pfupaity, or (c) any actual or threatened litigation or claims of any kind by any
<br />person raising to such matters; and (3) Except as previously disclosed to and eckrawtedged by Lander In wrling (a) neither Tender her
<br />any tonanl, contractor, agent or other oumorc d user of Iho Property shall use, gonnmto, manufacture, atom, (real, dispose of of !slants any
<br />hazardous Subvnrao on, under, about or [rpm the pmpnfly. and Of any such ativlty shall be conducted In compliance with all applicable
<br />Ied,r,0, Slate, an i local lowp. rooUlel0i19 and Olecancos, n011,fIll without Imitation r"1 Environmental Laws. TNnlof aNhOdLOS Lander and
<br />its ag ,ld to enlnr. Mari the Properly to make such Inspections and tusk, rl Tutor's expanse, an Lander any doom approprlola to
<br />dmonnna eumplanCe at rho Property wfill this soctan of Iho Duud of Trust. Any Inapadare of testa made by Leader shalt W for Landoi s
<br />rad,osud holy ufd ,ball not be continued to create any foaptaii y Or liability on tale on of Landor to Trusof or to ally clear parson, Thu
<br />ropmtoninllpoa end w arnman contalnnd ho ien are braid on Taislor's due dsigonaS In invosllgting Iho Property for Hazardous
<br />Sobtnnaon, Hamlet Imreby (1) roimmue and welvall any loftier claims health Landor (or Indorrnlly or uaneibullon In the event T',ealOr
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