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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 />THIS DEED OF TRUST is dated October 23, 2002, among John S Schulte and B�HillL ulte, Husband and l %\
<br />Wife; whose address is 3422 S 110th Rd, Wood River, NE 68883; ( "Truster"); United Nebraska Bank,
<br />whose address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes
<br />as "Lender" and sometimes as "Beneficiary'); and United Nebraska Bank , whose address is 700 N. Webb,
<br />Grand Island, NE 68802 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Tractor conveys to Trustee in bust, 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 />subsequently erected or affixed buildings, Improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch fights (including stock in utilities with ditch or Irrigation rights): and all other rights, royalties, and profits relaling to the real property, inductor
<br />r
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property') located in Hall County, State of
<br />Nebraska:
<br />Lot Eighteen (18), Westwood Park Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 4179 Norwood Dr, Grand Island, NE 68803. The
<br />Real Property lax identification number is 400406071
<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 Truslor, together with all Interest thereon; however, in no event shall such future advances (excluding
<br />interest) exceed in the aggregate $10,000.00.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's righl, 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 (a) 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, Truslor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and In a limely manner perform all of Trustor's obligalions under the Note, this Deed of Trust,
<br />and the Related Documents,
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be governed
<br />by the following provisions:
<br />Possession and Ilse. Until the occurrence of an Evenl of Default, Trusor 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 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 (p During the period of Tedder'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 Properly; (2) Truslor 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 Laws, (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 Iiligabou or claims of any kind by any
<br />person rattling to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Truster nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, 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, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Truslor 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
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Truslor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence In investigating the Property for Hazardous
<br />Substances. Truster hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Truslor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture. storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Truslor.
<br />The provisions of this section of the Deed of Trust, Including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyanee of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any Interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commil, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Properly. Without limiting the generality of the foregoing, Truslor will not remove, or grant to any other -
<br />party the right to remove, any limber, minerals (ncluding oil and gas), coal, clay, scoria soil, gravel or rock products without Lender's prior
<br />wriffan consent.
<br />Removal of Improvements. Truslor shall not demolish or remove any Improvements from the Real Properly( w)Ihpyl tender's prior written
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<br />WHEN RECORDED MAIL TO:
<br />N
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box Nis
<br />GGreng IaMnd. NE 68802
<br />FOR
<br />RECORDER'S
<br />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 October 23, 2002, among John S Schulte and B�HillL ulte, Husband and l %\
<br />Wife; whose address is 3422 S 110th Rd, Wood River, NE 68883; ( "Truster"); United Nebraska Bank,
<br />whose address is Grand Island Office, PO Box 5018, Grand Island, NE 68802 (referred to below sometimes
<br />as "Lender" and sometimes as "Beneficiary'); and United Nebraska Bank , whose address is 700 N. Webb,
<br />Grand Island, NE 68802 (referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Tractor conveys to Trustee in bust, 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 />subsequently erected or affixed buildings, Improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and
<br />ditch fights (including stock in utilities with ditch or Irrigation rights): and all other rights, royalties, and profits relaling to the real property, inductor
<br />r
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property') located in Hall County, State of
<br />Nebraska:
<br />Lot Eighteen (18), Westwood Park Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 4179 Norwood Dr, Grand Island, NE 68803. The
<br />Real Property lax identification number is 400406071
<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 Truslor, together with all Interest thereon; however, in no event shall such future advances (excluding
<br />interest) exceed in the aggregate $10,000.00.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's righl, 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 (a) 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, Truslor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and In a limely manner perform all of Trustor's obligalions under the Note, this Deed of Trust,
<br />and the Related Documents,
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be governed
<br />by the following provisions:
<br />Possession and Ilse. Until the occurrence of an Evenl of Default, Trusor 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 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 (p During the period of Tedder'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 Properly; (2) Truslor 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 Laws, (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 Iiligabou or claims of any kind by any
<br />person rattling to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Truster nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, 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, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Truslor 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
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Truslor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence In investigating the Property for Hazardous
<br />Substances. Truster hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Truslor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />of this section of the Deed of Trust or as a consequence of any use, generation, manufacture. storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Truslor.
<br />The provisions of this section of the Deed of Trust, Including the obligation to indemnify, shall survive the payment of the Indebtedness and
<br />the satisfaction and reconveyanee of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any Interest in the
<br />Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commil, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Properly. Without limiting the generality of the foregoing, Truslor will not remove, or grant to any other -
<br />party the right to remove, any limber, minerals (ncluding oil and gas), coal, clay, scoria soil, gravel or rock products without Lender's prior
<br />wriffan consent.
<br />Removal of Improvements. Truslor shall not demolish or remove any Improvements from the Real Properly( w)Ihpyl tender's prior written
<br />
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