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<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch ptJ 11"x. S/J!
<br />810 Allen Dr .
<br />Grand Island. NE 68803 ~3J'lI2 - ~J 922-
<br />
<br />3t"oo
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated February 11, 2009, among Gerald R Jacobsen and Judy B Jacobsen; as
<br />
<br />Husband and Wife ("Trustor"); Platte Valley State Bank & Trust Company, whose address is PVSB Grand
<br />
<br />Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and
<br />
<br />sometimes as "Beneficiary"); and Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr,
<br />
<br />Grand Island, NE 68801 (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 relating 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 />Lots Twelve (12) and Thirteen (13), Pine View Subdivision, Hall County, Nebraska
<br />
<br />The Real Property or its address is commonly known as 206 & 210 Campbell Ave, Doniphan, NE 68832. The
<br />
<br />Real Property tax identification number is 400448335 & 400448351.
<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 SI:CURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (AI PAYMENT OF THE INDEBTEDNESS AND (BI 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
<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 />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 (31 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) 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 shall 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 Haznrdous 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 />breach of this section of the Deed of Trust or as a consequence of any use. generation, manufacture. storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property. whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend. shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any 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
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove. or grant to
<br />any other party the right to remove. any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Trustor's compliance with the terms and conditions of
<br />
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