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<br />WHEN RE:CORDED MAli:. TO:
<br />Five Points Bank
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island. NE 68803
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />.;lv,Sa
<br />
<br />THIS DEED OF TRUST is dated February 26, 2007, among EUGENE P BUETTNER; AN UNREMARRIED
<br />
<br />WIDOWER ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE
<br />
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Five Points Bank,
<br />
<br />whose address is P.O Box 1507, Grand Island, NE 68802-1507 (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 />Lots Seven (7) and Eight (8) and the East Half (E1/2) of Lot Nine (9) of Frank P. Bark's Subdivision of the
<br />
<br />East One-Half (E1/2) of the Northeast Quarter (NE1/4) of Section Ten (10), Township Eleven (11), North,
<br />
<br />Range Nine (9) West of the 6th P.M., Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 1824 E 7TH ST, GRAND ISLAND, NE 68801-3012.
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including. without limitation. a revolving line of credit. which
<br />obligates lender to make advances to Borrower so long as Borrower complies with all the terms of the Credit Agreement. Such advances
<br />may be made. repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time. not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in tha Credit Agreement, any temporary overages,
<br />other charges, and any amounts expended or advanced as provided in this paragraph, shall not exceed the Credit limit as provided in the
<br />Credit Agreement. It is the intention of Trustor and lender that this Deed of Trust secures the balance outstanding under the Credit
<br />Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement and any intermediate balance.
<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 EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOllOWING TERMS:
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor, including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be 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 />
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