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OJ <br />-"0 r:::n ~ <br />::3 i:r> .J:: <br /> (fl en <br />l-" :;><; c: <br />N l> en i:: <br />N ---- m <br />N (fl -c:: ~ <br /> (f) z <br /> 0 <br /> <br />n <br />:E: <br />m <br />n <br />1l\ <br /> <br />10 <br />m <br />.." <br />c: <br />Z <br />nO <br />>~ <br />en <br />:I: <br /> <br />Q~ <br />m CA <br />n:r: <br />,.. <br /> <br />............ l <br /> <br />;rJ ~';>': <br />rn Ol- <br />e) - <br />"'" <br />o <br />""fl <br /> <br />N <br />is <br />is <br />CP <br />is <br />.f::>. <br />(J1 <br />(J1 <br />.f::>. <br /> <br />~ <br /> <br />- -( f!J~) j(E,e/ <br />WHEN~ECORDE~AIL TO: <br />Equitable Bank <br />North locust Branch <br />113-115 N Locust St <br />PO Box 160 <br />Grand Island. NE 68802-0160 <br /> <br />DEED OF TRUST <br /> <br />FOR RECORDER'S USE ONLY <br />~) <br />~~ <br /> <br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $34,439.45. <br /> <br />THIS DEED OF TRUST is dated May 14, 2008, among DANA A IVERSON and BROOKE F IVERSON; HUSBAND <br />& WIFE ("Trustor"); Equitable Bank, whose address is North Locust Branch. 113-115 N Locust St, PO Box <br />160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as <br />"Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, <br />Grand Island, NE 68802-0160 (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 />LOT ELEVEN (11). PLEASANT VIEW THIRTEENTH SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL <br />COUNTY, NEBRASKA. <br /> <br />The Real Property or its address is commonly known as 1115 SUN VALLEY DR, GRAND ISLAND. NE 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 Unif9rmoComml;lrcial <br />Code security intl;lrl;lst in the Personal Property and Rents. <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 />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust. Trustor shall pay to ll;lnder 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 />Dl;led of Trust, and the Related Documents. <br /> <br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's posSl;lssion and use of the Property shall be <br />governed by thl;l 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. 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 gas), 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 <br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory <br />to Lender to replace such Improvements with Improvements of at least equal value. <br /> <br />j Ii i <br /> <br />1 " , <br />