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<br />WHEN RECORDED MAIL TO:
<br />Five Points Bank
<br />West Branch
<br />2009 N. Diers Ave.
<br />Grand Island. NI; 68803
<br />
<br />200805348
<br />
<br />FOR RI;CORDI;R'S USI; ONLY
<br />
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />
<br />THIS DEED OF TRUST is dated June 18, 2008, among RANDY L SONNENFELD and STEPHANIE J
<br />SONNENFELD; HUSBAND AND WIFE ("Trustor"); Five Points Bank, whose address is West Branch, 2009 N.
<br />Diers Ave., Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Five Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802-1507 (referred
<br />to below as "Trustee").
<br />
<br />~'
<br />~
<br />
<br />CONVI;Y ANCI; AND GRANT. For valuable consideration. Trustor conveys to Trustee in trust. WITH POWI;R OF SALI;. 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 Thirty (30) Westwood Park Tenth Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 4120 SANDALWOOD DR, GRAND ISLAND, NE
<br />
<br />68803-3157. The Real Property tax identification number is 400440857.
<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 (AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDI;R 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 />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9~334 and 2A-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />
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