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<br />
<br />WHEN RECORDED MAIL TO:
<br />Howard County Bank a branch of Sherman County
<br />Bank
<br />St Paul
<br />PO Box 84
<br />St. Paul. NE 68873
<br />
<br />.30 I J"'~l)
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated June 22, 2007, among Gary W Ostermeier; a single person, ("Trustor");
<br />
<br />Howard County Bank a branch of Sherman County Bank, whose address is St Paul, PO Box 84, St. Paul, NE
<br />
<br />68873 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Sherman County
<br />
<br />Bank, whose address is PO Box 543, Loup City, NE 68853 (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 appurlenances; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real properly, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County, State Of
<br />
<br />Nebraska:
<br />
<br />GILBERTS SECOND ADD L T 7 BlK 7, Grand Island, Hall County, Nebraska
<br />
<br />The Real Property or its address is commonly known as 916 W 14th, Grand Island, NE 68801. The Real
<br />
<br />Property tax identification number is 400134802.
<br />
<br />CROSS-COLLATERALIZATION. in addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Trustor to Lender, or anyone or more of them, as well as all claims by Lender against Trustor or anyone or more of them, whether now existing
<br />or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with
<br />others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter
<br />may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable, If the Lender is required to give notice of the right to cancel under Truth in Lending in connection with any additional loans,
<br />extensions of credit and other liabilities or obligations of Trustor to Lender, then this Deed of Trust shall not secure additional loans or obligations
<br />unless and until such notice is given.
<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 specified in
<br />the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon,
<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 present
<br />and future leases of the Property and all Rents from the Properly, In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />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 Deed of Trust,
<br />and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Properly shall be governed
<br />by the following provisions:
<br />
<br />Possession and Use. Unlilthe occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Properly; (2)
<br />use, operate or manage the Properly; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Truslor 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 of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Properly shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws, Trustor authorizes Lender and
<br />its agents to enter upon the Properly to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Properly with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances, Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any
<br />and all 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 threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br />
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