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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
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
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<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $14,400.50.
<br />
<br />THIS DEED OF TRUST is dated September 13. 2006, among DANNY D DUBBS and JANELLE D DUBBS,
<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 ri(Jht, title, and interest in and to the followin(J descrihed real property, together with IlII oxisting or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of WilY, and appurtel1al1ces; IlII watm, watm
<br />rights and ditch rights (including stock in utilities with ditch or irriglltion rights); and all othm rights, royalties, and profits relating to tho mal
<br />proporty, including without limitation all minerllls, oil, gas, geothermlll and similar matters, (the "Real Property") located in HALL
<br />
<br />County. State of Nebraska:
<br />
<br />LOT ONE (1). IN BLOCK ONE (1). LE HEIGHTS SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL
<br />
<br />COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 2221 N ENGLEMAN RD. GRAND ISLAI'm, NE 68803.
<br />
<br />Trustor presently nssigns to Lender (Illso known as Beneficiary in this Deed of Trust) all of Trustor's right, tille, and interest in and to nil
<br />present and future leases of the Property and all flents from thfl Property. In addition, Trustor grllnts to L!Jnd!Jr a Uniform Commercial
<br />Code security interest in the Persolllll 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 ns othNwise provided in this Dood of Trust. Trustor shall pay to Lender all Ilmounts socurod hy
<br />this Deed of Trust as thoy hecom!J due, and shall strictly Ilnd in a timely manner perform all of Trustor's ohligntions under the Note, this
<br />Dood of Trust, and thfl Rolated Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession Ilnd uso of the Property shall be
<br />governod by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession Ilnd control of the Prop!Jrty;
<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, replllcoments, and
<br />maintenance necessary to pmsorve its value.
<br />
<br />Compliance With Environmental laws. Trustor repres!mts and warrants to Lender thllt: (1) During the period of Trustor's ownN~hip
<br />of the Property, there has been no use, generation, mnnufacture, storage, treatment, disposal, mlflaso or threllten!Jd relea~e of any
<br />Hllzardous Substance by Ilny person on, und!Jr, about or from tho Property; (2) Trustor has no knowledge of, or reason to heliovo
<br />that there has been, except IlS previously disclosed to and Ilcknowled(Jed by Lender in writing, (a) any breach or violation of nny
<br />Environmonllll Laws, (b) any use, generation, mllnufnctlJre, storage, treatment, disposal, mlellse or thmlltP.fwd rel!Jas!J of any
<br />Hazardous Suhstance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any acll.1AI or
<br />threatened litigation or claims of any kind by any person relatin(J to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any temmt, contrnctor, agent or other authorized user of the Property
<br />shAll use, generate, mllnufactum, stom, treat, dispose of or releaso Ilny Hllzardous Suh~tllnco on, undor, Ahout or from the Property;
<br />and (h) any such activity shall be conducted in compliance with all applicable federal, state, Ilnd 10cllI laws, regulations and
<br />ordinllncos, including without limitation all Environmentlll Laws. Trustor authorizes Lender and its IlWmts to ontm upon the Prop!Jrty
<br />to make such inspection~ Ilnd t!J~ts, at Trustor's expense, as Londer mAy d!Jem appropriate to determine compliance of tho Proporty
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only Ilnd shall not bo
<br />construed to creatfl Ilny responsibilily or liability on the part of Londm to Tru~tor or to nny other person. The representations and
<br />wllrranties contained herein are based on Trustor's due diligence in investigating tho Propnrty for HllzArdous SubstAnces. Trustor
<br />homhy (1) releases and waives any futum claims Ilgllinst Lml'Jer for indemnity or contrihution in tho event Trustor becomes liable for
<br />cleanup or other costs und!Jr nny such laws; and (2) agmos to indemnify, defend, and hold harmless Lflndor Ilgainst Ilny and nil
<br />claims, losses, lillhilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or sulfm msultin(J from n
<br />breach of this section of the Dood of Trust or as a consequence of any uso, gonomtion, mnnufnctur!J, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whothm or not the snme was or should have
<br />heen known to Trustor. The provisions of this section of the Deed of Trust, including the obliglltion to indemnify and doFond, sl,,11I
<br />survive the payment of the Indebtedness and the slltisfaction and reconveyance of the lien of this Deed of Trust Ilnd shllll not he
<br />affected by Lender's acquisition of any interest in the Proporty, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisllnce nor commit. permit, or suffor any stripping of or waste on
<br />or to tho Propmty or any portion of the Property. Without limiting tho g!JnAmlity of the foregoing, Trustor will not remove, or grant to
<br />any other party thfl right to rflmovo, any timber, minerals (including oil Ilnd gas), COlli, clllY, scoria, soil, gravol or rock products
<br />without Lender's prior writlfln consent,
<br />
<br />Removal of Improvements, Trustor shall not demolish or mmove any Improvoments from the Real Property without Lender's prior
<br />written consont. As n condition to th!J removal of any Improvemonts, Londor mny mquire Trustor to mllke Ilrrnng!Jment.s satisFactory
<br />to Lender to replace such Improvemonts with Improvements of at lellst equal vlllue.
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