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<br />WHEN RECORDED MAIL TO:
<br />Howard County Bank a branch of Sherman County
<br />Bank
<br />St Paul
<br />-~SGXB4 .
<br />St ?SL:I. NE eeS1l3
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<br />i=OFtJ:!ECORDEA'S DSE'ONL Y~--"
<br />
<br />3 :55"
<br />
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />
<br />THIS DEED OF TRUST is dated August 31, 2007, among Michelle R Hartmann, whose address is 11698 W
<br />Old Potash Hwy, Wood River, NE 68883 and Kirk L Hartmann, whose address is 11698 W Old Potash Hwy,
<br />Wood River, NE 68883; two single people, ("Trustor"); Howard County Bank a branch
<br />of Sherman County Bank, whose address is St Paul, PO Box 84, St. Paul, NE 68873 (referred to below
<br />sometimes as "Lender" and sometimes as "Beneficiary"); and Sherman County Bank, whose address is PO
<br />Box 543, Loup City, NE 68853 (referred to below as "Trustee").
<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 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 propertY;..including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall County, ;:,tate Of
<br />Nebraska:
<br />
<br />Lot One (1), B & D Subdivision, Hall County Nebraska
<br />
<br />The Real Property or its address is commonly known as 11698 W Old Potash Hwy, Wo,,"'.! River, NE e.82S3.
<br />The Real Property tax identification number Is 400428946.
<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 Nota. all future (:;.rno!.:!ni~ L'anti-.:>>' t~~, :~,s G:~ClctjOIl n~.:.y. iO~i-i to TrustuI1 tvga~; I€;U v...l~:"'1 il:l ;ljtt;rE:;~~ ti"ier$OIl.
<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 Property. 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, INCLUDING THE ASSIGNMENT
<br />OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED
<br />DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST
<br />IS GIVEN AND ACCEPTED ON THE 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 />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the Uniform
<br />Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed
<br />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; (2)
<br />use, operate or manage the Property; and (3) collect the Rents irom tne Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance
<br />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, qeneration. manufflcture. storaQe. treatment, disposal. release or threatened release of @.ny Hazardous
<br />Substance by any person on, under, about or from thu Property; (2) Trustor has no Knowledge of, or reason to believe tilat 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 Property 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 Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property 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 beenkflown to Trustor.
<br />
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