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<br />WHEN RECORDED MAIL TO:
<br />CENTRAL BANK
<br />1634 16TH ST
<br />POBOX177
<br />CENTRAL CITY, NE 68826
<br />
<br />3.5:50
<br />
<br />-FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated March 29, 2008, among KRISTINE L. COLCLASURE, a Single Person
<br />("Trustor"); CENTRAL BANK, whose address is 1634 16TH ST, POBOX 177, CENTRAL CITY, NE 68826
<br />(referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and CENTRAL BANK, whose
<br />address is 1634 16TH STREET. CENTRAL CITY, NE 68826 (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 />A part of Lot 1 of Voss Subdivision of part of the South 1/2 of Section 11, Township 11 North. Range 9
<br />West of the 6th P. M., Hall County, Nebraska, described as follows: Beginning at the Southwest corner of
<br />the Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, running thence
<br />Easterly along and upon the South line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW
<br />1/4) of said Section 11 a distance of 277.5 feet, thence Northerly and parallel to the Westerly line of said
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11 a distance of 33 feet,
<br />thence continuing Northerly a distance of 150.9 feet, thence Easterly and parallel to the Southerly line of
<br />said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of Section 11. a distance of 50 feet to
<br />the Point of Beginning, thence- eefltinuing Easterly a distance of 90 feet, thence Southerly, parallel to the
<br />Westerly line of said Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11. a
<br />distance of 150.9 feet, thence Westerly parallel and 33 feet Northerly from the Southerly line of the
<br />Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4) of said Section 11, a distance of 90 feet.
<br />thence Northerly and parallel to the Westerly line of said Southeast Quarter of the Southwest Quarter (SE
<br />1/4 SW 1/4) of said Section 11 a distance of 150.9 feet to the Point of Beginning.
<br />
<br />The Real Property or its address is commonly known as 2502 E SEEDLING MILE, GRAND ISLAND, NE
<br />68801 .
<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 (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 and hold harmless Lender against pny and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />
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