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WHEN RECORDED MAIL TO: p O O ,G p e
<br />FIVE POINTS BANK OF HASTINGS F. O
<br />... N ST JOSEPH
<br />HASTINGS NE 69901 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $20,045.50.
<br />O
<br />THIS DEED OF TRUST is dated December 2, 2002, among RICHARD A RAIL and RHONDA S RAIL,
<br />HUSBAND AND WIFE (Trustor "); FIVE POINTS BANK OF HASTINGS, whose address is 322 N ST JOSEPH,
<br />HASTINGS, NE 68901 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five
<br />Points Bank of Hastings, whose address is P.O Box 55, Hastings, NE 68902 -0055 (referred to below as
<br />"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 reelpropeny, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL County, State of
<br />Nebraska:
<br />LOT 12, AMICK ACRES, PART OF THE W 112 SW 1/4 OF SECTION 2, TOWNSHIP 9 NORTH, RANGE 10,
<br />WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF
<br />The Real Property or its address is commonly known as 120 AMICK AVE, DONIPHAN, NE 68832.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustors right, [die, 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 THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br />remains a lien on the Properly, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance in violation of any Environmental Lewis. Trustor authorizes Lender and its agents to enter upon the Property to make
<br />such inspections and tests as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust.
<br />Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws, and (2) agrees to indemnify and hold harmless Lender against any and all claims and losses
<br />resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnity shall survive the payment of the Indebtedness
<br />and the satisfaction of this Deed of Trust.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are pad of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all faces, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br />services rendered or material hxMShed to the Property. Trustor shall maintain the Property free of all (lens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due, except for the Existing Indebtedness
<br />referred to below, and except as otherwise provided in this Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Dead of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurance as
<br />Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued
<br />by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certiicates of insurance in form satisfactory to Lender, including stipulations that coverages will not the cancelled or diminished
<br />without at least ten (10) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that
<br />coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person, Should the Real
<br />Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that Ne Property, is
<br />located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,
<br />up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
<br />(B) to provide any required insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to maintain Existing
<br />Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that would materially affect
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<br />WHEN RECORDED MAIL TO: p O O ,G p e
<br />FIVE POINTS BANK OF HASTINGS F. O
<br />... N ST JOSEPH
<br />HASTINGS NE 69901 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $20,045.50.
<br />O
<br />THIS DEED OF TRUST is dated December 2, 2002, among RICHARD A RAIL and RHONDA S RAIL,
<br />HUSBAND AND WIFE (Trustor "); FIVE POINTS BANK OF HASTINGS, whose address is 322 N ST JOSEPH,
<br />HASTINGS, NE 68901 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five
<br />Points Bank of Hastings, whose address is P.O Box 55, Hastings, NE 68902 -0055 (referred to below as
<br />"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 reelpropeny, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in HALL County, State of
<br />Nebraska:
<br />LOT 12, AMICK ACRES, PART OF THE W 112 SW 1/4 OF SECTION 2, TOWNSHIP 9 NORTH, RANGE 10,
<br />WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF
<br />The Real Property or its address is commonly known as 120 AMICK AVE, DONIPHAN, NE 68832.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustors right, [die, 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 THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE 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 />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
<br />remains a lien on the Properly, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance in violation of any Environmental Lewis. Trustor authorizes Lender and its agents to enter upon the Property to make
<br />such inspections and tests as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust.
<br />Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws, and (2) agrees to indemnify and hold harmless Lender against any and all claims and losses
<br />resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnity shall survive the payment of the Indebtedness
<br />and the satisfaction of this Deed of Trust.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are pad of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquency) all faces, special taxes, assessments, charges (including water
<br />and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for
<br />services rendered or material hxMShed to the Property. Trustor shall maintain the Property free of all (lens having priority over or equal to the
<br />interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due, except for the Existing Indebtedness
<br />referred to below, and except as otherwise provided in this Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Dead of Trust.
<br />Maintenance of Insurance. Trustor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on
<br />a fair value basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of
<br />any coinsurance clause, and with a standard mortgagee clause in favor of Lender, together with such other hazard and liability insurance as
<br />Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued
<br />by a company or companies reasonably acceptable to Lender. Trustor, upon request of Lender, will deliver to Lender from time to time the
<br />policies or certiicates of insurance in form satisfactory to Lender, including stipulations that coverages will not the cancelled or diminished
<br />without at least ten (10) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that
<br />coverage in favor of Lender will not be impaired in any way by any act, omission or default of Trustor or any other person, Should the Real
<br />Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area,
<br />Trustor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that Ne Property, is
<br />located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan,
<br />up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such
<br />insurance for the term of the loan.
<br />LENDER'S EXPENDITURES. If Trustor fails (A) to keep the Property free of all taxes, liens, security interests, encumbrances, and other claims,
<br />(B) to provide any required insurance on the Property, (C) to make repairs to the Property or to comply with any obligation to maintain Existing
<br />Indebtedness in good standing as required below, then Lender may do so. If any action or proceeding is commenced that would materially affect
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