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<br />WHEN RECORDED MAIL TO:
<br />Bank of Clarks
<br />301 N. Green Street
<br />P.O. Box 125
<br />Clarks. NE 68628-0125
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<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />;5s.SlJ
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $500.000.00.
<br />
<br />THIS DEED OF TRUST is dated June 6, 2007, among Todd W. Friesen, whose address is 4134 W. Faidley
<br />
<br />Ave., Grand Island, NE 68803 and Lori K. Friesen, whose address is 4134 W. Faidley Ave., Grand Island, NE
<br />
<br />68803; as husband and wife ("Trustor"); Bank of Clarks, whose address is 301 N. Green Street, P.O. Box
<br />
<br />125, Clarks, NE 68628-0125 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />
<br />Bank of Clarks, whose address is P.O. Box 125, Clarks, NE 68628 (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 />Lot Two (2), Rief Standeven Subdivision in Hall County. Nebraska, less and excepting therefrom a tract of
<br />
<br />land conveyed to the State of Nebraska, Department of Roads by dees recorded in the Register of Deeds
<br />
<br />Office. Hall County, Nebraska as Document Number 200308995 and 200313515.
<br />
<br />The Real Property or its address is commonly known as 4060 E. Hwy. 30, Grand Island, NE 68801.
<br />
<br />CROSS.COLLAi'EnJ~i..;ZATIQN. In ".;;.....,,0;.; .0 l~,,, l'.vt(;, this Deed cf Tru"t socures all cbligatione. debts and liabilities. plus.. intp.fost
<br />thereon, of either Trustor or Borrower to Lender, or anyone or more of them, as well as all claims by Lender against Borrower and Trustor
<br />or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise. whether due or not due. direct or indirect, determined or undetermined, absolute or contingent. liquidated or
<br />unliquidated. whether Borrower or Trustor may be liable individually or jointly with others. whether obligated as guarantor. surety.
<br />accommodation party or otherwise. and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts lender in its discretion may loan to Borrower. together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $500,000.00.
<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 IAI PAYMENT OF THE INDEBTEDNESS AND IBI 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 warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of lender; (b) Trustor has the full power, right. and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation. court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<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 and Trustor shall pay to lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, 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 />
<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 />
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