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<br />
<br />WHEN RECORDED MAil 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 />THIS DEED OF TRUST is dated November 8, 2007. among MICHAEl J SCHNEIDER and CYNTHIA J ~
<br />
<br />SCHNEIDER; Husband and Wife ("Trustor"); Five Points Bank, whose address is West Branch. 2009 N. Diers
<br />Ave.. Grand Island. NE 68803 (referred to below sometimes as "lender" and sometimes as "Beneficiary");
<br />and (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 />County, State of Nebraska:
<br />
<br />Unit Two (2) in Westwood Park 1 Condominiums, in the City of Grand Island, Hall County, Nebraska, as
<br />shown on the plat and plan for Westwood Park 1 Condominiums and the Declaration thereof. and any
<br />amendments thereto. and subject to the Declaration. grants, covenants. easements, conditions and
<br />restrictions establishing a plan for condominium ownership of Westwood Park 1 Condominiums, as set
<br />forth therein and of record as Instrument #200307657, and amendments thereto recorded as Instruments
<br />#200311803, #200314908. #200401622. #200403074. #200409420, #200409480, #200504121,
<br />
<br />#200511123. #200602228 and #200709255 all as contained in the records of the Register of Deeds of
<br />Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 405 Rosewood Circle, Grand Island. NE 68803.
<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 IA) PAYMENT OF THE INDEBTEDNESS AND IB) 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 good 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 />
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