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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
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<br />35;50
<br />FOR RECORDER'S USE QNl Y
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $32,242.35.
<br />
<br />THIS DEED OF TRUST is dated May 25, 2006, among STEVEN GAlllART and ARTIS A GAlllART, HUSBAND
<br />AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand Island, NE
<br />68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />(Grand Island Region). whose address is 113-115 N locust St; PO Box 160, Grand Island, NE 68802-0160
<br />(referred to below as "Trustee").
<br />
<br />CONVEY ANCE 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 appurtenanc8s; all water, watnr
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to thn real
<br />propnrty, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HAll
<br />County, State of Nebraska:
<br />
<br />lOT TWENTY SEVEN (27) IN FONNER VIEW SECOND SUBDIVISION, IN THE CITY OF GRAND ISLAND,
<br />HAll COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 1108 HAll ST, GRAND ISLAND, NE 68801.
<br />
<br />FUTURE ADVANCES. In addition to the Notf!, this Deed of Trust secures all future advances madf! by lender to Trustor whether or not thf!
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Df!nd 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.
<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 futurf! leases of the Property and all Rents from the Property. In addition, Trustor grants to Lendf!r 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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Def!d of Trust, Trustor shall pay to Lender all amounts sf!cured 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 usn of the Property shnll 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 thn Property;
<br />(2) use, operate or manage the Property; and (3) collf!ct the Rents from the Propf!rty.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform nil 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 thn pnriod of Trustor's ownership
<br />of the Property, there has bnnn no use, generation, manufacture, storage, treatment, disposal. release or threatened mlnasn of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or mason to believe
<br />that there has been, except as previously disclosed to and acknowlndged by Lender in writing, (a) any bmach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatmnnt, disposal, release or threatened mlnase 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 prnviously disclosed to nnd
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agf!nt or other authorized user of the Propnrty
<br />shall use, generate, manufacture, store, trnat, dispose of or release any Hazardous Substflncn on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable fnderal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its ngnnts to enter upon thn Property
<br />to make such inspections and tf!sts, at Trustor's expense, as Lender may deem appropriate to dntermine compliancn 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 bn
<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 Substancns. Trustor
<br />hnmby (1) releases and waives any future claims against Lender for indemnity or contribution io thn event Trustor becomes liable for
<br />cleanup or othP.r costs under any such laws; and (2) ngmns to indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, dnmagns, penalties, and expenses which Lnnder 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, whf!ther or not the same was or should have been known to Trustor.
<br />The provisions of this snction of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the
<br />Indebtednnss 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 intf!rest in the Propnrty, whether by fomclosure 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 thn generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timbnr, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consnnt.
<br />
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