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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 />
<br />\\.~-,
<br />~'t
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $10,086.50.
<br />
<br />THIS DEED OF TRUST is dated December 26, 2006, among THOMAS A FULTON and SHARON K FULTON,
<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, rind intfHost in rind to the following described real property, together with all existing or
<br />subsequontly erected or rlffixed buildings, improvements and fixturP.s; rill ellsements, rights of way, and appurtenances; all watrn, writer
<br />rights and ditch rights (including stock in utilitios with ditch or irriglltion rights); Ilnd all other rights, rOYlllties, and profits relating to tho real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL
<br />
<br />County, State of Nebraska:
<br />
<br />THE SOUTH EIGHT (8) FEET OF LOT NINE (9l. AND ALL OF LOT ELEVEN (11), AND THE NORTH NINE (9)
<br />FEET OF LOT THIRTEEN (13), ALL IN BLOCK TWENTY-NINE (29l. IN HIGHLAND PARK ADDITION IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 2010 N PARK AVE, GRAND ISLAND, NE 68803.
<br />
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) 1111 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 Ilddition, Trustor grants to Lender a Uniform Commorcial
<br />Code security interest in the Persomll 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 (81 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. Exrept ns otherwise providod in IhiR Deed of Trust, Trustor shall pay to Lender nil amounts socumd hy
<br />this Deed of Trust as they become due, rlml shl1l1 Rtrictly and in Il timely ml1nner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust. and the Relnted Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall bo
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until thp. occurrence of an Event of Default, Trustor may (1) remllin in possession and control of the Property;
<br />(2) use, operl1te or mana(1e the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Mainta;n, Trustor shl1l1 mnintllin tho Property in (1ood condition and promptly perform all repairs, replacements, and
<br />maintenance necesSrlry to preserve its vlllue.
<br />
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of tho Property, there has been no use, generation, manufacture, stornge, treatment, disposal, release or threatened relense of Ilny
<br />Hazardous Substance by any person on, under, l1hout or from tho Property; (2) Trustor has no knowled(1e of, or rel1son to believe
<br />that there has been, except as previously disclosed to and Ilcknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, (b) Ilny use, (1eneration, manufFlcture, storage, treatment, dispOSFlI, release or threatened release of rlny
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupl1nts of the Property, or (c) l1ny actulll or
<br />threatened litigation or claims of any kind by any person relating to such matters; rind (3) Except as previously disclosed to l1nd
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contrFlctor, agent or other authorimd user of the Property
<br />shall use, generate, manufFlcture, store, treat, dispose of or release any H1171lrdous Substance on, under, about or from the Property;
<br />and (b) any such activity shllll be conducted in cornplianre with rill FlpplicFlble federal, stale, rind local laws, regulFltions and
<br />ordinances, including without limitlltion all Environmentnl Lnws. Trustor Fluthorizes Lender and its l1(1ents to enter upon the Property
<br />to make such inspections and tests, at Trustor'R expense, as Lender ml1Y deem appropriate to determine compliance of tho Propp.rty
<br />with this sp.ction of the Deed of Trust. Any inspections or tests made by L.ender shrill he for Lender'S purposes only and shall not be
<br />construed to create any responsihility or liability on the part of Lender to Trustor or to any other person. The representations Ilnd
<br />warrl1nties contained herein am bFlsed on Trustor's due diliqfHlce in invp.stigating the Property for Hazardous SubRl.rlncp.s. Trustor
<br />hereby (1) relp.rlses and wl1ives l1ny future rlaims against Lender for indemnity or contrihution in the event Truiltor hecomes liable for
<br />c1p,anup or other COStil under any such laws; and (2) 'lgrees to indemnify, defend, and hold harmless Lender against any ami all
<br />clAims, losses, liabilitieR, damrlges, penlllties, and expenses which Lp,nder mllY directly or indirectly ilustain or suffer resullin(1 from a
<br />hrp.l1ch of this section of the Deerl of Trust or as a consequence of any use, gp.neration, rnanufllcture, storage, disposal, relp.ase or
<br />thrp.l1tened release occurrin(1 prior to Trustor's ownerRhip or interost in the Property, whether or not the Rrlllle WIlS or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify FInd defend, shAll
<br />survive the payment of thp. Indebtedness and tho sntisfAction and reconveyance of the lien of this Deed of Trust and shl111 IIOt be
<br />affected by Londer's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct. or permit any nuisance nor commit, permit, or iluffer any stripping of or wllste on
<br />or to the Propnrty or any portion of the Property. Without limitin(1 thl'! (1enerality of the foregoing, Trustor will not remove, or (Jrllnt to
<br />rlny other pl1rty the right to remove, any timhor, minemls (including oil and g",s), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor ilhall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
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