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<br />WHEN RECORDED MAIL TO: -
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box 5018
<br />Grand Island, NE 88802 FOR RECORDEfl'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated September 5, 2003, among Phyllis M. Elms, whose address is 87721 513th __ (
<br />Orchard, NE 68764 ( "Trustor" ); United Nebraska Bank, whose address is Grand Island Office, PO Box 5018,
<br />Grand Island, NE 68802 (referred to below sometimes as "Lender' and sometimes as "Beneflclary "I; and
<br />United Nebraska Bank , whose address is 700 N. Webb, Grand Island, NE 68802 (referred to below as
<br />"Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster convey. to Trustee in trust, WITH POWER OF SALE, far the benefit of
<br />Lander as Beneficiary, all of Truster's right title, and interest in and to the following described reel 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
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property) located In Hall
<br />County, State of Nebraska:
<br />Lot Thirty -two (32), Block Six (6), Unit Two (2), Continental Gardens, an Addition to the City of Grand
<br />Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as #32 Chantilly, Grand Island, NE 68803.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustor's right, title, and Interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security 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 Dead of Trust, Trustor shall pay to Lender all amount. secured by
<br />this Dead of Trust as they became due, and shall strictly and in . timely manner perform all of Trustor's obligations under the Note, this
<br />Dead of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be
<br />governed by the following Previsions'.
<br />Possession antl Use. Until the occurrence of an Event at Default, Truster may (1) remain in possession and control of the Property;
<br />(2) 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
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: 11) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Lew., (b) any is generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contmetor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat. dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local Iowa, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and testa, at Trgai expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained heroin are based on Trustor'. due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby 11) 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 a)) claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Dead of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />oo.urnng prior to Trumm's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnity, shall survive the payment of the
<br />Indebtedness and the satisfaction and raconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall nut cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />a, to the Property or any per ian of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove. any timber, minerals )including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Treanor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Truster to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Reel Property at all reasonable times to
<br />attend to Lender's interests and to Inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
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<br />WHEN RECORDED MAIL TO: -
<br />United Nebraska Bank
<br />Grand Island Office
<br />PO Box 5018
<br />Grand Island, NE 88802 FOR RECORDEfl'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated September 5, 2003, among Phyllis M. Elms, whose address is 87721 513th __ (
<br />Orchard, NE 68764 ( "Trustor" ); United Nebraska Bank, whose address is Grand Island Office, PO Box 5018,
<br />Grand Island, NE 68802 (referred to below sometimes as "Lender' and sometimes as "Beneflclary "I; and
<br />United Nebraska Bank , whose address is 700 N. Webb, Grand Island, NE 68802 (referred to below as
<br />"Trustee ").
<br />CONVEYANCE AND GRANT. For valuable consideration, Truster convey. to Trustee in trust, WITH POWER OF SALE, far the benefit of
<br />Lander as Beneficiary, all of Truster's right title, and interest in and to the following described reel 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
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property) located In Hall
<br />County, State of Nebraska:
<br />Lot Thirty -two (32), Block Six (6), Unit Two (2), Continental Gardens, an Addition to the City of Grand
<br />Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as #32 Chantilly, Grand Island, NE 68803.
<br />Truster presently assigns to Lender (also known as Beneficiary in this Dead of Trust) all of Trustor's right, title, and Interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Code security 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 Dead of Trust, Trustor shall pay to Lender all amount. secured by
<br />this Dead of Trust as they became due, and shall strictly and in . timely manner perform all of Trustor's obligations under the Note, this
<br />Dead of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Truster agrees that Trustor's possession and use of the Property shall be
<br />governed by the following Previsions'.
<br />Possession antl Use. Until the occurrence of an Event at Default, Truster may (1) remain in possession and control of the Property;
<br />(2) 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
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: 11) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Lew., (b) any is generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contmetor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat. dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local Iowa, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and testa, at Trgai expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained heroin are based on Trustor'. due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby 11) 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 a)) claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Dead of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />oo.urnng prior to Trumm's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnity, shall survive the payment of the
<br />Indebtedness and the satisfaction and raconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition
<br />of any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall nut cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />a, to the Property or any per ian of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove. any timber, minerals )including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Treanor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Truster to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Reel Property at all reasonable times to
<br />attend to Lender's interests and to Inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
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