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<br />WHEN RECbRDED M~TO: ~:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island. NE 68802-0160
<br />
<br />DEED OF TRUST
<br />
<br />FOR RECORDER'S USE ONl Y ~.
<br />
<br />--
<br />>c.
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $10,000.00.
<br />
<br />THIS DEED OF TRUST is dated January 31, 2008, among JAMES F THOMPSON JR and JULIE A THOMPSON;
<br />
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO Box 160, Grand
<br />
<br />Island, NE 68802-0160 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and
<br />
<br />Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE
<br />
<br />68802-0160 (referred to below as "Trustee").
<br />
<br />CONVEY ANCE 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 irri(Jntion ri(JhlR); nnd all other ri(JhtR, roynltieR, nnd profits relating to the real
<br />property, including without limitation all minerals, oil, gaR, (Jeothermal and Rimilar matterR, (the "Real Property") located in HALL
<br />
<br />County, State of Nebraska:
<br />
<br />lOTS FIVE (5) AND SIX (6), IN BLOCK FIVE (5). FIRST ADDITION TO WOOD RIVER, HAll COUNTY,
<br />
<br />NEBRASKA
<br />
<br />~
<br />
<br />The Real Property or its address is commonly known as 109 W 13TH ST, WOOD RIVER, NE 68883.
<br />
<br />REVOL VING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including. without limitation. a revolving line of credit. which
<br />obligates lender to make advances to Trustor so long 115 Trustor. complies with all the terms of the Credit Agreement. Such advances may
<br />be made. repaid. and remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time, not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in the Credit Agreement. any temporary overages.
<br />other charges, and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph. shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor and lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement
<br />and any intermediate balance.
<br />
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of TruRt) 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 grantR 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 (AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Oeed of Trust. TnJstor shall pay to Lemler all nmounts secured by
<br />this Deed of Trust aR they become due, and shall strictly and in A timely mAnner perform all of Trustor's obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related DocumentR.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor awees 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, TruRtor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manAge the Property; and (3) collect the RentR from the Property.
<br />
<br />Duty to Maintain. TruRtor shall maintain the Property in (Jood condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental laws. Trustor represents and warrantR 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 porson on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been. except aR previously disclosed to and ncknowled(Jed by Lender in writing, (a) any breach or violation of any
<br />Erwironrnentnl LawR, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened relense of any
<br />Ha;'ardOUR 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 claimR of Any kind by any person relating to such matterR; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writin(J, (a) neither Trustor nor any tellflllt, contractor, a(Jent or other authorized user of the Property
<br />shall use. genernle, manufacture, store, treat, dispoRe of or relenRe Any Hazardous Substance on, under, about or from the Property;
<br />and (b) any Ruch activity shall be conducted in compliance with all applicable federal, state, and local laws, regulationR And
<br />ordinances, includin(J without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and testR, at TruRtor's expense, as Lender may deem nppropriAte to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inRpections or tests made by Lender shall be for Londer'R purposes only and shall not be
<br />conRtrued to create any responRihility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />WArranties contained herein are bARed 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 becomeR Iinble for
<br />cleanup or other CORtR under any such laws: and (2) Agrees to indemnify, defend, and hold harmleRs Lender against any and all
<br />claims, losses, liabilitieR, damages, penal tieR, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />hrench of this section of the Deed of Trust or as a consequence of any URe, generation, manufacture. storage, disposnl, releaRe or
<br />threAtened release occurring prior to Trustor's ownership or intereRt in the Property, whether or not the Rarne was or should have
<br />been known to TrURlor. Thl'! provisions of this section of the Deed of Trust, including the obli(JAtion to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the RAtisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any intereRt in the Property, whether by forecloRure or otherwise. , ",
<br />
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