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The lien of this Deed of Trust shall not exceed at anyone time $629,271.00. <br /> <br />THIS DEED OF TRUST is dated January 23, 2007, among PLATTE VALLEY PROPERTIES OF GI, whose <br /> <br />address is 509 W. Koenig Street. Grand Island, NE 68801 ("Trustor"); Equitable Bank. whose address is North <br /> <br />Locust Branch, 113-115 N Locust St. PO Box 160, Grand Island, NE 68802-0160 (referred to below <br /> <br />sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose <br /> <br />address is 113-115 N Locust St; PO Box 160, Grand Island, NE 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 appurtenances; all 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 the 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 />See Exhibit "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully <br /> <br />set forth herein. <br /> <br />The Real Property or its address is commonly known as 509 W. Koenig Street. Grand Island. NE 68801. The <br /> <br />Real Property tax identification number is 400055996. <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 (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 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 tenantable 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, generation, manufacture, storage, treatment, disposal, release or threatened release of any <br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe <br />that there has been, except as previously 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 release of any <br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (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 Trustor nor any tenant, contractor, agent or other authorized user of the Property <br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property; <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 Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property <br />to make such inspections 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 for Lender's purposes only and shall not be <br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and <br />warranties contained herein are based on 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 contribution in the event 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, 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 or interest in the Property, whether or not the same was or should have <br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall <br />survive the payment of the 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 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 suffer 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 other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products <br />without Lender's prior written consent. <br /> <br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior <br />