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<br />WHEN RECORDED MAiL TO:
<br />Equitable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island, NE 68802-0160
<br />
<br />.5S,50
<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 $100,000.00.
<br />
<br />THIS DEED OF TRUST is dated July 16, 2008, among GARY L KRUSE, Trustee of GARY L KRUSE
<br />REVOCABLE TRUST under the provisions of a trust agreement dated December 13, 2001; and ARDITH A
<br />KRUSE, Trustee of ARDITH L KRUSE REVOCABLE TRUST under the provisions of a trust agreement dated
<br />December 13, 2001 ("Trustor"); Equitable Bank. whose address is Diers Avenue Branch, PO Box 160, Grand
<br />Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />Equitable Bank (Grand Island Region). whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE
<br />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 tho following described reAl property, together with all existing or
<br />subsequently erected or IIffixed huildings, 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 thp. real
<br />property, including without limitation all minerals, oil. gas, geothermal and similar mllttp.rs, (the "Real Property") located in HALL
<br />County, State of Nebraska:
<br />
<br />LOT THIRTY-EIGHT (38), MONRNINGSIDE ACRES SUBDIVISION, INTHE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 1611 CHESAPEAKE CIR, GRAND ISLAND, NE
<br />688017575.
<br />
<br />REVOLVING LINE OF CREDIT, This Deed of Trust secures the Indebtedness including. without limitation. a revolving line of credit. which
<br />obligates lender to make advances to Borrower so long as Borrower complies with all the terms of the Credit Agreement. Such advances
<br />may be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time. 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 />other charges, and any amounts expended or advanced 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 and 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. The initial advance under the terms of the Credit Agreement is to be applied toward the purchase of the
<br />Property.
<br />
<br />Trustor presently assigns to lender (1Ilso known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to 1111
<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 (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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants thllt: (a) this Deed of Trust is p.xecutod 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 Dp.p.d of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a defllult under any agreement or other instrurnent
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor hilS
<br />established adequate means of obtllining from Borrower on a continuing basis information about Borrower's financial condition; IInd (p.)
<br />Lender has made no representlltion to Trustor about Borrower (including without limitation the croditworthiness of Borrower).
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defp.nsos arising by rellson of any "one IIction" 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 lendp.r is otherwise
<br />entitled to a claim for deficiency, hefore or after Lender's commencomp.nt or completion of any foreclosurp. action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise providod in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, IInd Borrower and Trustor shllll perform all their respective ohligations 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 and Use, Until the occurrence of an Event of Defllult, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; IInd (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 necessllfY to preserve its vlllue.
<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 hilS been no use, generation, manufacture, storage, tmatment, disposal, release or threatened relellse of IIny
<br />Hazardous Suhstance 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 IIcknowledged by Lender in writing, (II) any breach or violation of any
<br />Environmental laws, (b) IIny 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 IIctual or
<br />threatened litigation or claims of any kind by any pp.rson relating to such mlltters; and (3) Except as previously disclosed to and
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