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WHEN RECORDED MAIL TO:
<br />Five Points Bank 2 (� 0 0 2 3 lL J 7 3
<br />North Branch
<br />2015 North Broatlwe11
<br />Grand I l n NE 68803 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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $300,000.00.
<br />THIS DEED OF TRUST is dated September 24, 2002, among RANDELL S GLEASON and MICHELE L
<br />TRUMLER- GLEASON; HUSBAND AND WIFE ( "Trustor "); Five Points Bank, whose address is North Branch,
<br />2015 North Broadwell, Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes
<br />as "Beneficiary'); and Five Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802 -1507
<br />(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 night, fitle, 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 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, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located In HALL County, Stale of
<br />Nebraska:
<br />SEE ATTACHED EXHIBIT A
<br />The Real Property or its address is commonly known as 15397 W OLD POTASH HWY, WOOD RIVER, NE
<br />68883.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Truster, together with all interest thereon; however, in no event shall such future advances (excluding
<br />interest) exceed in the aggregate $300,000.00.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all present
<br />and future leases of the Property and all Rents from 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />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 Deed of Trust,
<br />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 Uniform
<br />Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster's possession and use of the Property shall be governed
<br />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 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 maintenance
<br />necessary to preserve its value.
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<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank 2 (� 0 0 2 3 lL J 7 3
<br />North Branch
<br />2015 North Broatlwe11
<br />Grand I l n NE 68803 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 />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $300,000.00.
<br />THIS DEED OF TRUST is dated September 24, 2002, among RANDELL S GLEASON and MICHELE L
<br />TRUMLER- GLEASON; HUSBAND AND WIFE ( "Trustor "); Five Points Bank, whose address is North Branch,
<br />2015 North Broadwell, Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes
<br />as "Beneficiary'); and Five Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802 -1507
<br />(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 night, fitle, 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 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, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located In HALL County, Stale of
<br />Nebraska:
<br />SEE ATTACHED EXHIBIT A
<br />The Real Property or its address is commonly known as 15397 W OLD POTASH HWY, WOOD RIVER, NE
<br />68883.
<br />FUTURE ADVANCES. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future
<br />amounts Lender in its discretion may loan to Truster, together with all interest thereon; however, in no event shall such future advances (excluding
<br />interest) exceed in the aggregate $300,000.00.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all present
<br />and future leases of the Property and all Rents from 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />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 Deed of Trust,
<br />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 Uniform
<br />Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Truster's possession and use of the Property shall be governed
<br />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 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 maintenance
<br />necessary to preserve its value.
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