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<br />WHEN RECORDED MAil 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 />3~ 5'-1
<br />
<br />FOR RECORDER'S USE ONLY
<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 27. 2008. among JAMES E CORNELIUS and PATSY A CORNELIUS;
<br />
<br />HUSBAND AND WIFE ("Trustor"); Equitable Bank. whose address is North locust Branch, 113-115 N locust
<br />
<br />St. PO Box 160, Grand Island. NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as
<br />
<br />"Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box 160,
<br />
<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 />lendar 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 TWO (2). IN BLOCK "B" OF BOEHM'S SUBDIVISION OF lOT SIXTEEN (16) OF THE COUNTY
<br />
<br />SUBDIVISION OF THE SOUTH HALF OF THE SOUTHEAST QUARTER (S 1/2 SE 1/4) OF SECTION
<br />
<br />SIXTEEN (16). AND PART OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER ( NW 1/4 NE
<br />
<br />1/4) OF SECTION TWENTY ONE (21), AlliN TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9), WEST
<br />
<br />OF THE 6TH P.M.
<br />
<br />The Real Property or its address is commonly known as 1009 W CHARLES ST, GRAND ISLAND, NE 68801.
<br />
<br />REVOLVING LINE OF CREDIT. This Deed of Trust sacures the Indebtednass including. without limitation. a ravolvlng lina of credit. which
<br />obligates lander to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be mada, repaid, and ramade from time to tlma. subjact to the limitation that the total outstanding balance owing at anyone tima. 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 />othar charges. and any amounts axpended or advanced as providad in either tha Indebtednass paragraph or this paragraph. shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor end 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 Cradit 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 (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 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 Credit
<br />Agreement, this 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 />Possassion and Use. Until the occurrence of an Event of Default, Trustor may (11 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 sh'all 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 />
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