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<br />WHEN RECORDED MAIL TO:
<br />Howard County Bank a branch 0' Sherman County
<br />Bank
<br />St Paul
<br />PO Box 84
<br />51. Paul. NE 68873
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<br />200807169
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<br />FOR RECORDER'S USE ONLY
<br />
<br />
<br />DEED OF TRUST ~
<br />
<br />THIS DEED OF TRUST Is dated August 15, 2008, among Justin M. Tollman, whose address Is 214 West ,~
<br />
<br />Copenhagen St, Dannebrog, NE 68831 and Tami M. Tollman, whose address Is 214 West Copenhagen St, '
<br />
<br />Dannebr09, NE 68831; husband and wife, as joint tenants, not tenants in common, ("Trustor"); Howard
<br />
<br />County Bank a branch of Sherman County Bank, whose address Is St Paul, PO Box 84, St. Paul, NE 68873
<br />
<br />(referred to below sometimes 8S "Lender" and sometimes as "Beneficiary"); and Sherman County Bank,
<br />
<br />whose address is PO Box 543, Loup City, NE 68853 (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 0'
<br />Lender as Beneficiary, all of Truslor's right, title, and interest In and to Ihe 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 rights and
<br />ditch rights (including stock In utilities with ditch or Irrigation rights); and all other rights, royalties, and profits relatil}g to the real prol?erty;.including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located In Hall County, ::.tate of
<br />
<br />Nebraska:
<br />
<br />Lot Five (5), In R & B Second Subdivision, In the City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address Is commonly known as 4080 Horseshoe PI., Grand Island, NE 68803. The
<br />
<br />Real Property tax Identification number Is 400160293.
<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 specified In
<br />the Note, all future amounts Lender In its discretion may loan to Trustor, together with all interest thereon.
<br />
<br />Trustor presently assigns to Lender (also known as Beneficiary In this Deed of Trust) all of Trustor's right, tille, and interest In and to all present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 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 this
<br />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 Deed of Trust,
<br />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 governed
<br />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; (2)
<br />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 maintenance
<br />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 of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed 10 and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, Including without limitation all Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such Inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any Inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence In Investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to Indemnify, defend, and hold harmless Lender against any
<br />and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or Indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manulacture, storage, disposal, release or threatened
<br />release occurring prior to Trustor's ownership or interest In the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to Indemnify and defend, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
<br />interest In the Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to
<br />the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to any other
<br />party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior
<br />written consent.
<br />
<br />Removal 0' Improvements. Trustor shall not demolish or remove any Improvements from the ~~"~l'ithO.t ff~r's prior written
<br />
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