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<br />
<br />WHEN RECORDED MAIL TO:
<br />NebraskaLand National Bank
<br />Main Office
<br />121 North Dewey
<br />P.O. Box 829
<br />North Platte, NE 69103
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />~
<br />~
<br />
<br />THIS DEED OF TRUST is dated January 25, 2008, among Raymond W. Rollins and Deanna K. Rollins, whose
<br />
<br />address is 4018 West Roth Road, Grand Island, NE 68803 ("Trustor"); NebraskaLand National Bank, whose
<br />
<br />address is Main Office, 121 North Dewey, P.O. Box 829, North Platte, NE 69103 (referred to below
<br />
<br />sometimes as "Lender" and sometimes as "Beneficiary"); and NebraskaLand National Bank, whose address is
<br />
<br />P.O. Box 829 121 North Dewey, North Platte, NE 69103 (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 />
<br />County, State of Nebraska:
<br />
<br />LOT SIXTEEN (16), POTASH SUBDIVISION IN HALL COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 4018 West Roth Road, Grand Island, NE 68803. The
<br />
<br />Real Property tax identification number is 400159392.
<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
<br />specified in 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
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (8) 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
<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 />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 Ib) 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 />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing. Trustor will not remove, or grant to
<br />any other party the right to remove. any timber, minerals (including oil and gasl. coal, clay, scoria, soil. gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
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