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<br />WHEN RECORDED MAil TO:
<br />Platte Valley State Bank & Tru$t Company
<br />PVSB Grand Island Branch
<br />810 Allen Dr
<br />Grand Island. NE 68803
<br />
<br />3~, 50
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated January 11, 2008, among Tim C. Plate; a Single Person ("Trustor"); Platte
<br />Valley State Bank & Trust Company, whose address is PVSB Grand Island Branch, 810 Allen Dr, Grand Island,
<br />NE 68803 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Platte Valley State
<br />Bank & Trust Company, whose address is PO Box 430, Kearney, NE 68848-0430 (referred to below as
<br />"Trustee").
<br />CONVEYANCE AND GRANT. For valuable con$ideration. 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 />lot C, 0 and B in Jones Subdivision, Grand Island, Hall County, Nebraska
<br />
<br />The Real Property or its address is commonly known as 501-503 & 509-511 S. Cedar St and 409-~11 W.
<br />louise. Grand Island, NE 68801. The Real Property tax identification number is 400050579.400050579
<br />and400050552.
<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 />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; lc) 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 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 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 />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture. store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable 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 Deed 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 Lender to Trustor or to any other person. The 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 Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />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
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend. shall
<br />
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