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<br />WHEN RECORDED MAIL TO:
<br />Bank of Clarks
<br />301 N. Green Street
<br />P.O. Box 125
<br />Clarkll. NE 68628-0125
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />~ MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $45,000.00.
<br />
<br />;; THIS DEED OF TRUST is dated March 20, 2006, among Dawn M. Peard, a single person, whose address is
<br />
<br />Z 1504 Mansfield, Grand Island, NE 68803 ("Trustor"); Bank of Clarks, whose address is 301 N. Green Street,
<br />
<br />;;! P.O. Box 125, Clarks, NE 68628-0125 (referred to below sometimes as "lender" and sometimes as
<br />
<br />~ "Beneficiary"); and Bank of Clarks, whose address is 301 N. Green, P.O. Box 125, Clarks, NE 68628-0125
<br />
<br />~ (referred to below as "Trustee").
<br />
<br />;:i CONVEYANCE AND GRANT. For valuable consideration, Trustor conveYll to TrUlltee in trUllt. WITH POWER OF SALE, for the benefit of
<br />.... lender all Beneficiary. all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />01 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 />
<br />o County, State of Nebraska:
<br />..
<br />- The North One-Half of lots One (1) and Two (2), Block Sixty-Eight (68), Wheeler and Bennett's Second
<br />
<br />Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 1320 N. Oak, Grand Island, NE 68801.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by lender to Trustor whether or not the
<br />advances are rTl(ld€!...pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts lender in Its discretion may loan to Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $45,000.00.
<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 (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 />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this 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
<br />Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />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 good condition and promptly perform all repairs. replacements. and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental LaWll. 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 />Hazardous Substance on, under, about or from the Pmperty by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by /.lily pel hon relating to such matters; arid (3) E).cept as previously di&closed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, 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 laws, 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 tests. at Trustor's 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 herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />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, 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 Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Trustor'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 indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance 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 />
<br />Nuisance. Waste. Trustor shall not cause, conduct or permit any nuisance nor commit. permit, or suffer any stripping of or waste on
<br />or to the Property or any portion 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.
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