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<br />200602987
<br />
<br />WHEN RECORDED MAIL TO:
<br />Adams Bank & Trust
<br />Ogallala
<br />. .'315 North Spruce
<br />P.O. Box 720
<br />Oaallala. NE 69153-0720
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<br />FOR RECORDER'S USE ONLY
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<br />THIS DEED OF TRUST Is dated January 27, 2006, among FRED MCCALLA, a single man, whose address is
<br />
<br />934 3RD STREET, CHAPPELL, NE 69129; Anna M. Parks, married woman, whose address is 621 Jefferson
<br />
<br />Street, North Platte, NE 69101 and Doug Parks, married man, whose address is 621 Jefferson Street, North
<br />
<br />Platte, NE 69101 ("Trustor"); Adams Bank & Trust, whose address is Ogallala, 315 North Spruce, P.O. Box
<br />
<br />720, Ogallala, NE 69153-0720 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />
<br />and Adams Bank & Trust, whose address is :,15 North Spruce, P.O. Box 720, Ogallala, NE 69153 (referred
<br />
<br />to below as "Trustee").
<br />
<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 rjghts, r~alties, and profits relating. to the realjxoperty, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real property"} located In Hall county, State of
<br />
<br />Nebraska:
<br />
<br />CORRECTED MARCH 31, 2006
<br />DEED OF TRUST
<br />
<br />SEE ATTACHED EXHIBIT "A"
<br />
<br />The Real Property or its address is commonly known as Rural property In Hall County, Aida, NE 69129.
<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 made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition tv the amounts specified in
<br />the Note, all future amounts Lender in its discretion may loan to Borrower, together with all interest thereon.
<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 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 />
<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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and not
<br />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 Property; (c)
<br />the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Trustor and
<br />do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of
<br />obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to
<br />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 law
<br />which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a"
<br />claim for deficiency, before or after Lender'S commencement or completion of any foreclosure action, either judicially or by exercise of a power of
<br />sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note,
<br />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 the
<br />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; (2)
<br />--"-~------We;-operateurmanage-ttre- ?Iofl"',ly, and"'(-s)-cotIeeHhe neflts 1foot-th&.PrepeI'ty. . -.._--........ .--
<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 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) Trustor 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, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />be~omes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach
<br />
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