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<br />WHENRECORDED MAIL TO:
<br />Equitabla Bank
<br />North locust Branch
<br />113-115 N locust St
<br />POlo. 160
<br />Grand Island, NE 68802-0160
<br />
<br />DEED OF TRUST
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $50,000.00.
<br />
<br />THIS DEED OF TRUST is dated June 17, 2008, among ARLENE G WASSINGER, Trustee of ARLENE G
<br />
<br />WASSINGER REVOCABLE LIVING TRUST AGREEMENT DATED FEBRUARY 26, 2007 ("Trustor"); Equitable
<br />
<br />Bank, whose address is North Locust Branch. 113-115 N Locust St. PO Box 160. Grand Island, NE
<br />
<br />68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />
<br />(Grand Island Region), whose address is 113-115 N Locust St; PO Box 160. Grand Island, NE 68802-0160
<br />
<br />(referred to below as "Trustee").
<br />
<br />CONVEYANCE AND GRANT. For valuable consldaration. Trustor conveys to Trustee in trust. WITH POWER OF SALE. for the benefit of
<br />lender llS 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 relatinQ 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-FOUR (4). BLOCK SIX (6), KAY DEE SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />
<br />NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 2115 DEL MAR AVE, GRAND ISLAND, NE 68803.
<br />
<br />The Real Property tax identification number is 400061230.
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness Including, without limitlltlon. a revolving line of credit. which
<br />obligates lender to make advences to Borrower so long llS Borrower complies with all the terms of the Credit Agreement. Such advances
<br />may be mede. repllid. and remade from time to time. subject to the limitation thllt the total outstanding balllnce owing llt anyone time, not
<br />including finance charges on such balllnce at a fixed or variable rate or sum as provided in the Credit Agreement. any temporary overllges.
<br />other charges. and any amounts expended or advllnced 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 llnd 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 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 IA) PAYMENT OF THE INDEBTEDNESS AND IB) 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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la) this Deed of Trust is executed at Borrower's request and
<br />not at the request of lender; (b) Trustor has the full power, right. and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor, including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Credit
<br />Agreement. this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />
<br />Possession llnd 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 Environmentlll 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 />
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