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<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $143,000.00.
<br />
<br />THIS DEED OF TRUST is dated March 1, 2006. among LBE Family Limited Partnership ("Trustor"); Equitable
<br />Bank, whose address is Diers Avenue Branch. PO Box 160, Grand Island. NE 68802-0160 (referred to below
<br />sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose
<br />address is 113-115 N Locust St; PO Box 160. Grand Island, NE 68802-0160 (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
<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 />
<br />A TRACT OF LAND COMPRISING ALL OF LOTS ONE (1) AND FIFTEEN (15); PART OF LOTS TWO (2),
<br />FOURTEEN (14) AND SIXTEEN (16) ALL IN RE-SUBDIVISION OF BLOCK FOUR (4). SECOND ADDITION TO
<br />HOLCOMB'S HIGHWAY HOMES. A SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA. AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT NORTHWEST
<br />CORNER OF NEBRASKA, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT
<br />NORTHWEST CORNER OF SAID LOT ONE (1), THENCE RUNNING SOUTHEASTERLY A DISTANCE OF ONE
<br />HUNDRED (100.00) FEET TO THE NORTHEAST CORNER OF SAID LOT ONE (1); THENCE CONTINUING
<br />SOUTHERLY ALONG THE NORTHEASTERLY LINE OF SAID LOT FOURTEEN (14) TO A POINT TWENTY
<br />(20.0) FEET NORTHWESTERLY FROM TEH NORTHEAST CORNER OF SAID LOT FOURTEEN (14), A
<br />DISTANCE OF EIGHTY-TWO AND SIXTY-THREE HUNDREDTHS (82.63) FEET TO A POINT ON THE
<br />PRONLONGATION OF A LINE TWENTY (20.0) FEET SOUTH OF SAID PARALLEL TO THE SOUTH LINE OF
<br />SAID LOT ONE (1); THENCE RUNNING WESTERLY ALONG SAID LINE A DISTANCE OF ONE HUNDRED
<br />SEVENTEEN AND THIRTY-THREE HUNDREDTHS (117.33) FEET TO A POINT ON THE WEST LINE OF SAID
<br />LOT TWO (2), THENCE RUNNING NORTHERLY ALONG THE WESTLlNE OF SAID LOTS TWO (2) AND ONE
<br />(1) A DISTANCE OF ONE HUNDRED FIFTEEN (115.0) FEET TO THE POINT OF BEGINNING.
<br />
<br />The Real Property or its address is commonly known as 2205-2207 Riverside Dr., Grand Island, NE 68801.
<br />
<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
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and. Rents.
<br />
<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 (AI 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 />
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (n) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />
<br />possession and Use. Until the occurrence of an Event of Default. Trustor 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 />
<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 />
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) 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 Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />
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