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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
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<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
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<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $250,000.00. 0
<br />
<br />THIS DEED OF TRUST is dated January 23, 2009, among David L. Larson, not personally but as Trustee on
<br />behalf of David L. Larson Revocable Living Trust dated October 15, 2002 as Amended as to undivided one-half
<br />(1/2) interest; and Catherine M. Larson, not personally but as Trustee on behalf of Catherine M. Larson
<br />Revocable Living Trust dated October 15. 2002 as Amended as to undivided one-half (112) interest ("Trustor");
<br />Equitable Bank, whose address is North Locust Branch, 113-115 N Locust St, PO Box 160, Grand Island, NE
<br />68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Equitable Bank
<br />(Grand Island Region), whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-0160
<br />(referred to below as "Trustee").
<br />
<br />CONVEY ANCE 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 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 />Parcel 1: Lot One (1), Sunny Acres Second Subdivison. in the City of Grand Island, Hall County. Nebraska
<br />
<br />Parcel 2: Lot Two (2), Sunny Acres Second Subdivison, in the City of Grand Island, Hall County, Nebraska
<br />
<br />Parcel 3: Lot Four (4), Sunny Acres Second Subdivison. in the City of Grand Island, Hall County. Nebraska
<br />
<br />The Real Property or its address is commonly known as 710, 708, & 702 Hedde Street, Grand Island. NE
<br />68801. The Real Property tax identification number is 400151499,400365049,400365057.
<br />
<br />CROSS-COLLATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of either Trustor or Borrower to lender, or anyone or more of them, as well as all claims by lender against Borrower and Trustor
<br />or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety,
<br />accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations. and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable.
<br />
<br />REVOL VING 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 Note.
<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 IAI PAYMENT OF THE INDEBTEDNESS AND IBI 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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) 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 and Trustor shall pay to lender all
<br />Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, 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 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 tenantable 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) Dur,ing the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture. storage, treatment, disposal. irlille6S64 er thf~atened release of any
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