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<br />
<br />WHEN RECORDED MAil TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch
<br />810 Allen Dr
<br />Grand Island, NE 68803
<br />
<br />3~ ' elt)
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $187,000.00.
<br />
<br />THIS DEED OF TRUST is dated January 11, 2008, among Tim C. Plate; a Single Person ("Trustor"); Platte
<br />
<br />Valley State Bank & Trust Company, whose address is PVSB Grand Island Branch, 810 Allen Dr, Grand Island,
<br />
<br />NE 68803 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Platte Valley State
<br />
<br />Bank & Trust Company, whose address is PO Box 430, Kearney, NE 68848-0430 (referred to below as
<br />
<br />"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 proparty, together with all existing or
<br />subsequently erected or affixed buildings, improvaments and fixtures; all easements, rights of way, and appurtanances; 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 Sixteen (16) and Seventeen (17), Block Three (3), in Southern Acres Addition to the City of Grand
<br />
<br />Island, Hall County, NE
<br />
<br />The Real Property or its address is commonly known as 2612-2616 Chanticleer, Grand Island, NE 68801.
<br />
<br />The Real Property tax identification number is 400093405.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all futura advances made by Lender to Borrower whether or not
<br />the advances ara made pursuant to a commitmant. 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, tog ather 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, titla, and interest in and to all
<br />presant and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commarcial
<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 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 Lander; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothacate the
<br />Proparty; (c) the provisions of this Daed 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 adaquata means of obtaining from Borrower on a continuing basis information about Borrowar's financial condition; and (e)
<br />Lander has made no reprasentation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or dafenses arising by raason of any "one action" or "anti-deficiancy" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiancy to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commancement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PA YMENT 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 Note,
<br />this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrowar's and Trustor's possession and use of
<br />tha 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 necassary to preserve its value.
<br />
<br />Compliance With Environmental laws. Trustor rapresents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has baen no use, generation, manufacture, storage, traatment. disposal, releasa or threatened relaase 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 thara 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 releasa of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any ectual 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 />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorizad user of the Property
<br />shall usa, generate, manufacture, store, treat. dispose of or relaase any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicebla federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Daed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lander to Trustor or to any other person. Tha representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lander for indemnity or contribution in the evant Trustor becomas liable for
<br />
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