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<br />WHEN RECORDED MAil TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO BOll 160
<br />Grand Island, NE 68802-0160
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
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<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $46,037.35.
<br />
<br />THIS DEED OF TRUST is dated January 16, 2007, among JOSEPH W MUDlOFF and SHIRLEE MUDlOFF,
<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 Isbmd 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 />CONVEY ANCE AND GRANT. For valuahle consideration, Trustor conv'lYs to Trustee in trust, WITH POWER OF SALE, for the henefit of
<br />Lend"!r as Beneficiary, i'lll of Trustor's riqht, title, And interesl in And tn the fnllnwinfl dosr:ribed rei'll profJerty, together with All existinfl or
<br />subsequently erected or affixed buildings, irl1proverTwnts And fix''''es; All eASernonts, riflhts of way, and appurtenances; All wal.or, wflter
<br />rights and ditch rights (includinq MN.;k in 1J1ilitiAS wilh ditch or irri(JAtinn ri(Jhls); And all other rights, royalties, rmd profits rolating to the reill
<br />profJerty, including without limitation 811 Ininomls, oil, (JflS, (Jootll!1rmfll flnd similar matters, (the "Real Property") located in
<br />~RX;ollnty, State of Nebraska:
<br />
<br />lOT TWENTY-FIVE (25), RAVENWOOD SUBDIVISION, HAll COUNTX,. NEBRASKA 68801
<br />630 PHEASAN~ PL GKAND ISLAND NE
<br />The Real Property or its address is commonly known as ~X;~~JN{X~rtJ4{~NXNf{~.
<br />
<br />Trustor presently assi\Jnl'; to Lender (fllso known as Beneficiary in this Deed of Trust) All of Trustor's right, title, 8nd interest in and to all
<br />present and future leases of the Property flnd all Rents from the Property_ In mldition, Trustor qrants to Lflndm a Uniform Commercial
<br />Code security inwrest in the Personal Property flnd Rnnts.
<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 (/\) PAYMENT OF THE INDEBTEDNESS AND (Bl 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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warmnts ttlAt: (fI) this Dood of Trust is eX!1cutfld At Borrower's reqrlest and
<br />not At the request of L!1nder; (b) Trustor helS the full powor, right, flnd authority to enter into this Deed of Trust and to hypothecate the
<br />Proporty; (c) the provisions of lhis DOfld of Trust do not conflict with, or msult in a defAult under any aweement or other instrument
<br />binding upon Trustor And do not result in a violeltion of Any IflW, m(ll.llfltion, court decree or order flpplicable to Trustor; (d) Trustor has
<br />established eldequate memlS of obtflininq from Borrower on fl continl.lin(J hflsis information Ahout Borrower's finAncial condition; and (e)
<br />Lender hilS rnildfl no mpmsentation to Trustor i1bout Rorrowor (including without lilTlitiltion the crflditworthiness of Borrowor).
<br />
<br />TRUSTOR'S WAIVERS. Trustor wflivns All riqhts or defensps misinfl hy J{)flson of any "on!1 fiction" or "anti-defici!1ncy" law, or any ottwr
<br />Iilw which mAy pmvpnt L.onrlor frorn brinqing any actioll flgflinst Trustor, includiu(l a r:lflim for deficiency to the extent Lender is othmwise
<br />!1ntitled to a clAim for deficiency, h!1forfl or flfter Lender's cornrnencomont or comfJletion of flny foreclosure action, eithor judicially or by
<br />oxerciso of a power of sille.
<br />
<br />PA YMENT AND PERFORMANCE. ExcefJt as ot.herwise providorl in this Deed of Trust, Borrower shall pny to Londer all Indebterhl!1ss
<br />secured hy this Deed of Trust flS it becomes due, and BOHowrr and Trustor shall perform fill their respective ohli(Jations under the Note,
<br />this Deed of Trust, 8nd tho Rolflted Docurn!1nts.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower flml Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property ShAll be governed by thp. followin~l provisiolls:
<br />
<br />Possession and Use. Until tll!1 ocr:urrrmce of an Fveot of D!1fmllt, Trustor mflY (1) rmnflin in possession and control of the ProfJerty;
<br />(J) uso, OfJerate or manage tho Property; and (3) collect the Rents from the PrOfJ!1rty.
<br />
<br />Duty to MAintAin. Trustor shall maintflin the Property in (lood condition and prolnfJtly fJerforrn all mpairs, refJlacemenls, flnd
<br />rnaintpn8nco necessary to presmvo its value.
<br />
<br />Compliance With Environmental Laws. Trustor repres!1nts and WArrants to I.endor thrlt: (1) Durinfl the fJeriod of Trl.lSlOr's ownership
<br />of the Property, there has been no use, gpnoration, mAnufacture, stOrfl(Jo, treatment, disposal, release or thmatened release of flny
<br />Hazardous SubSl.flnc!1 by any fJerson on, under, about or from th!1 Property; (2) Trustor has no knowl!1dfla of, or reason to believe
<br />thM there hfls beon, except AS pmviously disck)~pd 10 and acknowledged by L!1ndor in writino, (fl) any breach or violation of any
<br />Enviromn!1ntal Laws, (b) flny use, (Jeneration, mrlnufacture, storA~JP., tr!1fl1ment, dispos81, r!1lease or threflt!1nod release of flny
<br />Hflzardous Substance on, under, about or from the Property by 8ny prior owners or occupflnts of the Proporty, or (e) flny actual or
<br />threrlt!1ned litioation or clflims of any kind by Any fJerson relating to such matters; 8nd (3) Except flS previously disclosed to (llld
<br />acknowledged by Lendor in writinq, (fI) neither Trustor nor rlny tenant, contmr:tor, agent or othm authorized usm of the Property
<br />shflll use, generate, m8nufacture, store, troat, dispose of or mlOflse rmy Hazardous Substance on, under, about or from the Prop!1rty;
<br />And (b) any sucb flctivity shall he r:onducted in complimlC!1 with all tlppliCflbla federal, stato, and lOCAl IflWS, regulfllions and
<br />ordinelnces, inclurlin(J without limitation flll Enviromnenl.fll Lflws. Trustor alllhorizas Lender find its agents to !1nter upon ttm ProfJerty
<br />to make such inspoc!ions and tests, nt Trustor's eXI)!1nsr, flS Lend,)!" may d!1nm afJfJrOpri81!1 to deterrnin!1 comfJliance of tho ProfJerty
<br />with this spction of the Deed of Trust. Any inspoctions or tests mArle by Lemler ShAll bo for Lender's purposes only find shall not he
<br />construed to create any mSfJonsibilit.y or li8bility on the pmt of Lemlflr to TrIIslor or to any othor person. Th!1 refJresent8l.ions and
<br />wmmntios contained homin i1re bAs!1r1 on Trustor's dU!1 rliliflnnce in invesri(lflrin(J the Propmty for Hrvflrdous Substanr:es. Trustor
<br />hereby (1) releflSos rlnd waives any future clairns flfl8inst Lender lor indemnity or contribution in the evont Trustor becomes liable for
<br />cleanup or other costs undm flny such laws; flnd (2) ngreAs t.o inrlomnit.y, defFmd, flnd hold hflrmless l..endPr fl(Jainst any And all
<br />clAims, lossos, liabilities, dmnfl(Jes, penalties, flnd expensAs whir:h Lender mAy diroctly or indiroctly sustain or suffer resultin(J from a
<br />breach of this section of the Deed of Tnmt or f1S iI consoquonre of any IIS!1, (Jenerat.ion. nlflnufacture, storage, disposfll, release or
<br />tllr!1fl1!1n!1d releAse ocr:urrin(J prior to Trustor's oWllprship or interest in rho Property, whother or not the same WflS or should hflve
<br />been known to Trustor. The provisions of this sor:tion of the Deed of Trust, including the obligfltion to indemnify and defend, shall
<br />surviv!1 thp. fJayment of the Indebtodnoss alld tlm sfltisfaction iHIC.l rocollveyance of the lien of this Deed of Trust and shflll not be
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