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~"'~` ~ ~~. p ~ ~ rn ~ ~ ~ i ~ `° n cn ° -, ~~ m ~. ~~~~~,a~~;,; n ~ •,:~ z ~ N , ~I.r_ IV ~ ~ ~.~ _ ~ ~ ~ {~' ~ ~c ~ ~ ri ~ n ~ ~ ~ ° ~~ d ~ ~ v ~ ~ CO + ~ ~~ ~ rn cr 3 r ~ r"" a. "~ ~ 1) .rte ~ ~a ~ GL] C ..~ d ~ m ~ ~~ r-- rv ~ © ~ ~~ ~ z ~~ ~ O _.. _ .~ WHEN RECORDED MAIL TO: Exchange Bank P.O. Box 760 p ~ s #14 LaBarre _ Gibbon,. NE_B$840_ ____ _ _ ___ ____ ____ _ FOR RECORDER'S USE O NLY DEED OF TRUST THIS DEED OF TRUST is dated June 5, 2009, among GORDON H PEDERSEN and PAMELA M PEDERSEN, HUSBAND AND WIFE ("Trustor"); Exchange Bank, whose address is P.O. Bax 760, #14 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender" and sometimes as "'Beneficiary'"1; and Exchange Bank, whose address is P.O. Bax 760, Gibbon, NE 68$40 (referred to below as "Trustee'"). CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITW POWER OF SALE, for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing yr subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rightsl; and all other ri hts, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (tie "Real Property") located in HALL County, State of Nebraska: THE SOUTH 52 FEET OF THE FOLLOWING DESCRIBED TRACT, VIZ: PART OF WHAT WAS FORMERLY BLOCK 6, OF SOUTH GRAND ISLAND, OF PART OF THE NORTHWEST 1 /4 OF THE NORTHWEST 1 /4 OF SECTION 22, TOWNSHIP 7 7 NORTH, RANGE 9 WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT 66 FEET SOUTH OF THE NORTHEAST 1 /4 CORNER OF SAID BLOCK 6, SOUTH GRAND ISLAND; RUNNING THENCE WEST PARALLEL WITH THE NORTH BOUNDARY LINE OF SAID BLOCK FORA DISTANCE OF 132 FEET; RUNNING THENCE SOUTH PARALLEL WITH THE WEST LINE OF SAID BLOCK FOR A DISTANCE OF 132 FEET; RUNNING THENCE EAST PARALLEL WITH THE NORTH LINE OF SAID BLOCK FOR A DISTANCE OF 132 FEET; AND RUNNING THENCE NORTH ALONG AND UPON THE EAST BOUNDARY LINE OF SAID BLOCK FOR A DISTANCE OF 732 FEET TO THE PLACE OF BEGINNING. The Real Property or its address is commonly known as 816 S PINE ,GRAND ISLAND, NE 68801. The Real Property tax identification number is 400148188. CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower and Trustor or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower or Trustor whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Borrower or Trustor, together with all interest thereon. 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 present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE IAl PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER TWE NOTE, TWE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST 15 GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la- this Deed of Trust is executed at Borrower's request and 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 Property; Ic- the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; Id- Trustor has established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrowerl. TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale. PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default, Trustor may 11- remain in possession and control of the Property; 121 use, operate or manage the Property; and 131 collect the Rents from the Property. Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value.