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WHEN RECORDED MAIL TO:
<br />CENTRAL BANK
<br />1634 16TH ST
<br />P O BOX 177
<br />CENTRAL CITY, NE 68826 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated October 28, 2002, among KRISTINE L. COLCLASURE, a Single Person
<br />( "Trustor "); CENTRAL BANK, whose address is 1634 16TH ST, P 0 BOX 177, CENTRAL CITY, NE 68826
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and CENTRAL BANK, whose
<br />address is 1634 16TH STREET, CENTRAL CITY, NE 68826 (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, 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 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, State of
<br />Nebraska:
<br />A part of Lot 1 of Voss Subdivision of part of the South 1/2 of Section 11, Township 11 North, Range 9
<br />West of the 6th P. M., Hall County, Nebraska, described as follows: Beginning at the Southwest corner
<br />of the Southeast Quarter of the Southwest Quarter (SE 1/4 SW 114) of said Section 11, running thence
<br />Easterly along and upon the South line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW
<br />1/4) of said Section 11 a distance of 277.5 feet, thence Northerly and parallel to the Westerly line of said
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11 a distance of 33 feet,
<br />thence continuing Northerly a distance of 150.9 feet, thence Easterly and parallel to the Southerly line of
<br />said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of Section 11, a distance of 50 feet to
<br />the Point of Beginning, thence continuing Easterly a distance of 90 feet, thence Southerly, parallel to the
<br />Westerly line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, a
<br />distance of 150.9 feet, thence Westerly parallel and 33 feet Northerly from the Southerly line of the
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, a distance of 90 feet,
<br />thence Northerly and parallel to the Westerly line of said Southeast Quarter of the Southwest Quarter
<br />(SE 1/4 SW 1/4) of said Section 11 a distance of 150.9 feet to the Point of Beginning.
<br />The Real Property or its address is commonly known as 2502 E SEEDLING MILE, GRAND ISLAND, NE
<br />68801.
<br />Trustor 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 />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor'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.
<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 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 litigation or claims of any kind by any
<br />person relating to such matters; 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, 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. 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
<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 Trustor 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. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<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
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<br />WHEN RECORDED MAIL TO:
<br />CENTRAL BANK
<br />1634 16TH ST
<br />P O BOX 177
<br />CENTRAL CITY, NE 68826 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated October 28, 2002, among KRISTINE L. COLCLASURE, a Single Person
<br />( "Trustor "); CENTRAL BANK, whose address is 1634 16TH ST, P 0 BOX 177, CENTRAL CITY, NE 68826
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary "); and CENTRAL BANK, whose
<br />address is 1634 16TH STREET, CENTRAL CITY, NE 68826 (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, 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 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, State of
<br />Nebraska:
<br />A part of Lot 1 of Voss Subdivision of part of the South 1/2 of Section 11, Township 11 North, Range 9
<br />West of the 6th P. M., Hall County, Nebraska, described as follows: Beginning at the Southwest corner
<br />of the Southeast Quarter of the Southwest Quarter (SE 1/4 SW 114) of said Section 11, running thence
<br />Easterly along and upon the South line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW
<br />1/4) of said Section 11 a distance of 277.5 feet, thence Northerly and parallel to the Westerly line of said
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11 a distance of 33 feet,
<br />thence continuing Northerly a distance of 150.9 feet, thence Easterly and parallel to the Southerly line of
<br />said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of Section 11, a distance of 50 feet to
<br />the Point of Beginning, thence continuing Easterly a distance of 90 feet, thence Southerly, parallel to the
<br />Westerly line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, a
<br />distance of 150.9 feet, thence Westerly parallel and 33 feet Northerly from the Southerly line of the
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, a distance of 90 feet,
<br />thence Northerly and parallel to the Westerly line of said Southeast Quarter of the Southwest Quarter
<br />(SE 1/4 SW 1/4) of said Section 11 a distance of 150.9 feet to the Point of Beginning.
<br />The Real Property or its address is commonly known as 2502 E SEEDLING MILE, GRAND ISLAND, NE
<br />68801.
<br />Trustor 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 />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor'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.
<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 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 litigation or claims of any kind by any
<br />person relating to such matters; 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, 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. 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
<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 Trustor 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. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<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
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