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<br />200607429
<br />
<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />D
<br />~0'Y
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $8,585.50.
<br />
<br />THIS DEED OF TRUST is dated August 11, 2006, among LELAND J MCGRAW III and BARBARA M MCGRAW,
<br />
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160. Grand
<br />
<br />Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />
<br />Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE
<br />
<br />68802-0160 (referred 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 Ilffixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (includillg 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 HAl L
<br />
<br />County, State of Nebraska:
<br />
<br />LOT SEVEN (7). BLOCK B, BOEHM'S SUBDIVISION OF LOT SIXTEEN (16) OF THE COUNTY SUBDIVISION
<br />
<br />OF THE SOUTH ONE-HALF OF THE SOUTHEAST QUARTER (S1/2SE1/4) OF SECTION SIXTEEN (16)
<br />
<br />TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9) WEST OF THE 6TH P.M., AND PART OF NORTHWEST
<br />
<br />QUARTER OF THE NORTHEAST QUARTER (NW1/4NE1/4) OF SECTION TWENTY ONE (21), TOWNSHIP
<br />
<br />ElEVEN (11) NORTH, RANGE NINE (9) WEST OF THE 6TH P.M. HALL COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 1010 W LOUISE ST, 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 made pursuant to a commitment. Specifically, without limitation, this Df',d 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 future leases of the Property and all Rents from the Property. In addition, Trustor grants to lender a Uniform Cnmmercial
<br />Code security interest in the Persnnal 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 (BI 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 ntherwise 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 />gnverned by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in pnssession 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 gond 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, generatinn, manufacture. storage, treatment, disposal, release or threatened release nf any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reasnn to believe
<br />that there has been, except as previously disclnsed to and acknnwledged 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 nf any
<br />Halardous Substance on, under, about or from the Property by any prinr owners or occupants of the Propeny, nr (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 Trustnr nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture. stnre, treat, dispose of or release any Hazardous Substance on, under, about or frnm the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulatinns and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes lender and its agents to enter upon the Prnperty
<br />to make such inspectinns 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 fnr Lender's purposes only and shall nnt be
<br />construed to create any responsibility or liability on the part of Lender tn Trustor or to any Mher person. The representatinns and
<br />warranties contained herein are based nn 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 cnntribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hnld 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
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership nr interest in the Property, whether or not the same was or shnuld have
<br />been knnwn to Trustnr. The provisions of this sectinn of the Deed of Trust, including the nbligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and mconveyancc of ti Ie lien of this Deed of Trust and shall not be
<br />affected by lender's acquisition af any interest in the Property, whether by foreclnsure 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 />
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