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<br />'---- --------'
<br />
<br />WHEN RECORDED MAIL TO:
<br />FIVE POINTS BANK OF HASTINGS
<br />MAIN BANK
<br />2815 OSBORNE DRIVE WEST
<br />HASTINGS. NE 68901
<br />
<br />FOR RECORDER'S USE 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 />
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<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $180.000.00.
<br />
<br />THIS DEED OF TRUST is dated August 1. 2008. among BRENT J BRECKNER and MINDY J BRECKNER;
<br />HUSBAND AND WIFE ("Trustor"); FIVE POINTS BANK OF HASTINGS. whose address is MAIN BANK. 2815
<br />OSBORNE DRIVE WEST. HASTINGS. NE 68901 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"); and Five Points Bank of Hastings. whose address is 2815 Osborne Drive West. Hastings. NE
<br />68901 (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 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 THIRTY ONE (31). HOFFMAN SECOND SUBDIVISION. AN ADDITION TO THE VILLAGE OF
<br />
<br />DONIPHAN. HALL COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 110 GENE CIRCLE. DONIPHAN. NE 68832. The Real
<br />
<br />Property tax identification number is 400424940.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts lender in its discretion may loan to Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $180,000.00.
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS 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 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 />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of
<br />Trust remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release
<br />of any Hazardous Substance in violation of any Environmental laws. Trustor authorizes lender and Its agents to enter upon the
<br />Property to make such inspections and tests as lender may deem appropriate to determine compliance of the Property with this
<br />section of the Deed of Trust. Trustor hereby (1) releases and waives any future claims against lender for indemnity or contribution
<br />in the event Trustor becomes liable for cleanup or other costs under any such laws, and (2) agrees to indemnify, defend, and hold
<br />harmless lender against any and all claims and losses resulting from a breach of this paragraph of the Deed of Trust. This obligation
<br />to indemnify and defend shall survive the payment of the Indebtedness and the satisfaction of this Deed of Trust.
<br />
<br />Construction lOlln. If some or all of the proceeds of the loan creating the Indebtedness are to be used to construct or complete
<br />construction of any Improvements on the Property, the Improvements shall be completed no later than the maturity date of the Note
<br />(or such earlier date as lender may reasonably establish) and Trustor shall pay in full all costs and expenses in connection with the
<br />work. lender will disburse loan proceeds under such terms and conditions as lender may deem reasonably necessary to insure that
<br />the interest created by this Deed of Trust shall have priority over all possible liens, including those of material suppliers and workmen.
<br />lender may require, among other things, that disbursement requests be supported by receipted bills, expense affidavits, waivers of
<br />liens, construction progress reports, and such other documentation as lender may reasonebly request.
<br />
<br />DUE ON SALE - CONSENT BY LENDER. lender may, at lender's option, declare immediately due and payable all sums secured by this
<br />Deed of Trust upon the sale or transfer, without lender's prior written consent, of all or any part of the Real Property, or any interest in the
<br />Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />for deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, or transfer of any
<br />beneficial interest In or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real
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