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WHEN RECORDED MAIL TO:
<br />Fammre State Bank•..
<br />20d and Vine
<br />P. O. BOX 216
<br />Silver Creek, NE 486fia-0246 FOR RECORDER'S USE ONLY `
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT �y
<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 $140,000.00.
<br />THIS DEED OF TRUST is dated December 6, 2002, among Chris S. Caley, whose address is 822 Driftwood
<br />Court, Grand Island, NE 68803 and Debra Caley, whose address is 822 Driftwood Court, Grand Island, NE
<br />68803; husband and wife as joint debtors ( "Trustor" y; Farmers State Bank, whose address is 2nd and Vine,
<br />P. 0. Box 246, Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Farmers State Bank, whose. address Is P. O. Box 246, Silver Creek, NE 68663-0246
<br />(referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's night, title, and ifierest In and to the fallowing described real property, together with all existing or
<br />subsequently arected drafted buildings. Improvements and fixtures; all sesements, rights of way, and appurtenances; all water, water rights and
<br />ditch night (including stack in uglities with stitch or Irrigation right); and all other rights, royalties fiend profits risen to the real property, including
<br />without limitation all minerals, ell, gas, geothermal and ful ltr matters, (the "Real Property ) located In Merrick County, State or
<br />Nebraska:
<br />Lot Forty-One (41) in Westwood Park Subdivision, Grand Island, HAIL County, Nebraska
<br />The Res! Property or its aCdreas to corhmmily known as .822 uriftwood Court, Grand Island, NE 68803.
<br />CROSS- COLLATERALIZATION. in addition to the Note, this Dead of Trust secures alf obligations, debts and Ilabilttles, plus interest thereon, of
<br />Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Nola, whether voluntary or otherwise, whether due or not due,
<br />direct or indirect, determined or undetermined absolute or contingent liquidated or uniiquideted whether Borrower or Truster may be liable
<br />individually or joinfly with others, whether obligated as guarmax, surely, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or
<br />hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Dead of Trust secures, in addition to the amount specified in the Note, all future
<br />amounts Lender in Its discretion may loan to Borrower, together with all interest thereon.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of TrusU all of Trusks's right, fee, and interest In and to all present
<br />and future losses of the Property and all Rent from the Property. In addition, Truster grant to Lender a Uniform Commercial Code security
<br />Interest In the Personal Properly 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 />TRUSTOR'S REPRESENTATION$ AND WARRANTIES. Truster warrants that (a) this Dead of Trust is executed at Borrowers equal and not
<br />at the request of Lentler, (b) Truster has the lull power, right, and authority to enter into this Deed of Trust and to hypollmome the Property; (c)
<br />the provisions of this Deed of Trust do not conflict with, or msuit in a default under any agreement or mlwr Instrument binding upon Truster and
<br />do not result In a violation of any law, regulation, court decree or order applicable to Truster; (d) Truster has established adequate means of
<br />obtaining from Borrower on 'a continuing basis information Wool Borrowers financial condition; and (9) Lender has made no representation to
<br />Truster about Borrower (including without Iimiladon the creditworthiness of Borrower)
<br />TRUSTOR'S WAIVERS. Truster waives all fights a defenses arising by reason of any "one soften" or "antl - deficiency" law, Or any other law
<br />which may prevent Lender from bringing any action against Truster, including a claim for deficienry M the ex!ant Lender is otherwise ernitied to a
<br />claim to. defean„y, L.S,,v or afar Lenders commencmnent Or cdmplefion of my foreclosure acllon, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness securest by
<br />this Dead of Trust as it becomes due, and Borrower and Truster shall strictly perform all their respective coligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Dead of Trust is a "construction mortgage" for the purposes of Sections 9 -334 and 2A-30g of the Uniform
<br />Commercial Cade, as those sections have been adopted by the Slate of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrowers and Tiustol possession and use of the
<br />Properly shall be governed 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. Truster shall maintain the Property In good condition and promptly perform all repalrs, replacement, and maintenance
<br />necessary to preserve Its value.
<br />Compliance With Environmental Laws. Truster represents and warrant 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) Truster 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, consumer, manufacture, storage, Ueatment, disposal, release or threatened release of any Hazardous Substance on, under, wool or
<br />from the Property by any prior owners or occupant of the Property, or (c) any actual or threatened litigation or claims of any kind by any
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<br />WHEN RECORDED MAIL TO:
<br />Fammre State Bank•..
<br />20d and Vine
<br />P. O. BOX 216
<br />Silver Creek, NE 486fia-0246 FOR RECORDER'S USE ONLY `
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT �y
<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 $140,000.00.
<br />THIS DEED OF TRUST is dated December 6, 2002, among Chris S. Caley, whose address is 822 Driftwood
<br />Court, Grand Island, NE 68803 and Debra Caley, whose address is 822 Driftwood Court, Grand Island, NE
<br />68803; husband and wife as joint debtors ( "Trustor" y; Farmers State Bank, whose address is 2nd and Vine,
<br />P. 0. Box 246, Silver Creek, NE 68663 -0246 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Farmers State Bank, whose. address Is P. O. Box 246, Silver Creek, NE 68663-0246
<br />(referred to below as "Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's night, title, and ifierest In and to the fallowing described real property, together with all existing or
<br />subsequently arected drafted buildings. Improvements and fixtures; all sesements, rights of way, and appurtenances; all water, water rights and
<br />ditch night (including stack in uglities with stitch or Irrigation right); and all other rights, royalties fiend profits risen to the real property, including
<br />without limitation all minerals, ell, gas, geothermal and ful ltr matters, (the "Real Property ) located In Merrick County, State or
<br />Nebraska:
<br />Lot Forty-One (41) in Westwood Park Subdivision, Grand Island, HAIL County, Nebraska
<br />The Res! Property or its aCdreas to corhmmily known as .822 uriftwood Court, Grand Island, NE 68803.
<br />CROSS- COLLATERALIZATION. in addition to the Note, this Dead of Trust secures alf obligations, debts and Ilabilttles, plus interest thereon, of
<br />Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Nola, whether voluntary or otherwise, whether due or not due,
<br />direct or indirect, determined or undetermined absolute or contingent liquidated or uniiquideted whether Borrower or Truster may be liable
<br />individually or joinfly with others, whether obligated as guarmax, surely, accommodation party or otherwise, and whether recovery upon such
<br />amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or
<br />hereafter may become otherwise unenforceable.
<br />FUTURE ADVANCES. Specifically, without limitation, this Dead of Trust secures, in addition to the amount specified in the Note, all future
<br />amounts Lender in Its discretion may loan to Borrower, together with all interest thereon.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of TrusU all of Trusks's right, fee, and interest In and to all present
<br />and future losses of the Property and all Rent from the Property. In addition, Truster grant to Lender a Uniform Commercial Code security
<br />Interest In the Personal Properly 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 />TRUSTOR'S REPRESENTATION$ AND WARRANTIES. Truster warrants that (a) this Dead of Trust is executed at Borrowers equal and not
<br />at the request of Lentler, (b) Truster has the lull power, right, and authority to enter into this Deed of Trust and to hypollmome the Property; (c)
<br />the provisions of this Deed of Trust do not conflict with, or msuit in a default under any agreement or mlwr Instrument binding upon Truster and
<br />do not result In a violation of any law, regulation, court decree or order applicable to Truster; (d) Truster has established adequate means of
<br />obtaining from Borrower on 'a continuing basis information Wool Borrowers financial condition; and (9) Lender has made no representation to
<br />Truster about Borrower (including without Iimiladon the creditworthiness of Borrower)
<br />TRUSTOR'S WAIVERS. Truster waives all fights a defenses arising by reason of any "one soften" or "antl - deficiency" law, Or any other law
<br />which may prevent Lender from bringing any action against Truster, including a claim for deficienry M the ex!ant Lender is otherwise ernitied to a
<br />claim to. defean„y, L.S,,v or afar Lenders commencmnent Or cdmplefion of my foreclosure acllon, either judicially or by exercise of a power of
<br />sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness securest by
<br />this Dead of Trust as it becomes due, and Borrower and Truster shall strictly perform all their respective coligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Dead of Trust is a "construction mortgage" for the purposes of Sections 9 -334 and 2A-30g of the Uniform
<br />Commercial Cade, as those sections have been adopted by the Slate of Nebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrowers and Tiustol possession and use of the
<br />Properly shall be governed 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. Truster shall maintain the Property In good condition and promptly perform all repalrs, replacement, and maintenance
<br />necessary to preserve Its value.
<br />Compliance With Environmental Laws. Truster represents and warrant 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) Truster 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, consumer, manufacture, storage, Ueatment, disposal, release or threatened release of any Hazardous Substance on, under, wool or
<br />from the Property by any prior owners or occupant of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />
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