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<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diars A venue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
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<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $10,100.50.
<br />
<br />THIS DEED OF TRUST is dated August 17, 2006, among WILLIAM K SCHNEIDER and AUDREY 0 SCHNEIDER,
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160. Grand
<br />Island. NE 68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and
<br />Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160. Grand Island. NE
<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 affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenflnces; fill 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 thp. rp.al
<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 />LOT SEVEN (7). IN BLOCK TWO (2). IN LAMBERT'S SECOND ADDITION TO THE CITY OF GRAND
<br />ISLAND, HAll COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 804 NORTH BROADWEll AVE, GRAND ISLAND. NE
<br />68803.
<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 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 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 IB) 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 preserV8 its valup..
<br />
<br />Compliance With Environmental Laws. Trustor r8pr8sents and warrants to lp.nder that: (1) During th8 p8riod of Trustor's ownership
<br />of the Property, there has been no use, g8n8ration, manufactum, storage, treatment, disposal. rel8asp. or threatened release of flny
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to beli8vp.
<br />that there has been, except as pr8viously 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 r818asp. of any
<br />Hazardous Substance on, under, about or from the Prop8rty by any prior owners or occupants of the Property, or (c) any actual or
<br />thr8atp.n8d litigation or claims of any kind by any p8rson r81ating to such matters; and (3) Except as pr8viously disclosed to and
<br />acknowledged by lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authoriz8d user of the Property
<br />shall use, generate, manufacture, stor8, tmat, dispose of or release any Hazardous SubstanC8 on, under, about or from the Prop8rty;
<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 Environm8ntal laws. Trustor authorizes lender and its agents to 8nter upon the Property
<br />to make such inspections and t8StS, at Trustor's expense, as lender may deem appropriat8 to dp.t8rmine compliance of the PropP.rty
<br />with this section of the De8d of Trust. Any inspections or tests made by Lender shall b8 for lp.nder's purposes only and sholl not be
<br />construed to create any msponsibility or liability on the part of Lender to Trustor or to any other person. Th8 repreS8ntations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Haz.ardous Substances. Trustor
<br />hp.mby (1) releases and waives any future claims against l8nder for indp.mnity or contribution in the 8v8nt Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless lender against any and all
<br />claims, losses, liabilities, damages, penalti8s, and expenses which lender may directly or indir8ctly sustain or suffer resulting from a
<br />breach of this section of th8 D88d of Trust or as a consequence of any use, generation, manufacture, storage, disposal, r818ase or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, wh8ther or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including th8 obligation to indemnify and d8fend, shall
<br />survive the payment of th8 Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any int8rest in the Property, whether by foreclosure or othP.rwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suff8r 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 othp.r party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, ,'loil, gravel or rock products
<br />
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