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<br />WHEN RECORDED MAIL TO:
<br />Geneva State Bank
<br />896 G Street
<br />P.O. Box 313
<br />Cae 836 FOR ER'
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is da#ed June 16, 2009, among Michael MaGahan and Tracy McGahan, whose address
<br />is 2717 Lakewood Drive, Grand Island, NE 68801; Wusband and Wife ("Trustor"); Geneva State Bank, whose
<br />address is Lincoln Loan Production Office, 5960 Vandervoort Dr. Ste. 120, Lincoln, NE 68516 (referred to
<br />below sometimes as "Lender" and sometimes as "Beneflclary"); and GENEVA STATE BANK, whose address is
<br />P.O. Box 313, Geneva, NE 68361 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT, For valuable canslderetlon, Truster conveys to Trustee In trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneflclary, all of Trustors Hght, 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 irigation rights); and all other ri hts, royalties, and profits relating to the real
<br />property, including without limitation ali minerals, oil, gas, geothermal and similar matters, (~he "Real Property") located In Hall
<br />County, State of Nebraska:
<br />Lot Eleven (11), Brentwood Third Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 2717 Lakewood Drive, Grand Island, NE 68801. The
<br />Real Property tax identification number is 400026104.
<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 Properly, In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest In the Personal Property and Rents,
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GNEN 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 FALLOWING TERMS:
<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 />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 />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(7) use, operate or manage the Property; and (3) collect the Rents from the Property,
<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 />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. Truster hereby (1) releases and waives any future claims against Lender for indemnity or contributlan
<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 />DUE ON SALE -CONSENT BY LENDER. Lender may, at Lender's option, deGare 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 trensfer" means the conveyance of Real Property or any right, title or Interest in the Real Properly; whether legal,
<br />beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract
<br />far deed, leasehold interest with a term greater than three (3) years, lease-option contract, or by sale, assignment, pr transfer of any
<br />beneficial interest in or to any land trust holding title to the Real Properly, ar by any other method of conveyance pf an interest in the Real
<br />Property. However, this option shall not be exercised by Lender if such exeroise is prohibited by federal law or by Nebraska law.
<br />TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust:
<br />Payment. Trustor shall pay when due (and in all events prior to delinquenty) all taxes, spacial taxes, assessments, charges (including
<br />water and sewer), fines and Impositions levied against or on account of the Property, and shall pay when due all claims for work done
<br />on or for services rendered or material furnished to the Property. Trustor shall maintain the property free of all Ifens having priority
<br />over or equal to the interest of Lender under this peed of Trust, except for the lien of taxes and assessments not due, except for the
<br />Existing Indebtedness referred to below, and except as othewise provided In this Deed of Trust.
<br />PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the properly are a part of this Deed of Trust.
<br />Mslntanance of Insurance. Trustor shall procure and maintain policies of fire Insurance with standard extended coverage
<br />endorsements on a fair value basis far the full Insurable value covering all Improvements on the Real Property in an amount sufficient
<br />to avoid application of any coinsurance Cause, and with a standard mortgagee clause in favor of Lender, together with such other
<br />hazard and liability insurance as Lender may reasonably require, Policies shall be written In form, amounts, covereges and basis
<br />reasonably acceptable to Lender and Issued by a company or companies reasonably acceptable to Lender, Trustor, upon request of
<br />Lender, will deliver to Lender from time to time the policies ar certificates of insurance In form satisfactory to Lender, including
<br />stipulations that coverages will not be cancelled or diminished without at least ten (1p) days prior written notice to Lender. Each
<br />Insurance policy elan shall inGuda an endorsement providing that coverage in favor of Lender will not be Impaired in any way by any
<br />act, omission or default of Trustor or any other person. Should the Real Property be located in an area designated by the Director of
<br />the Federal Emergency Management Agency as a special flood hazard area, Trustor agrees to obtain and maintain Federal Flood
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