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..~ ~,.. R .. V tD '~~ ~~ es~ ca cn a ~ ~ - ~~. ~ s ~, Ica ~ .ii~^ ~_ ~ ~ ~ o ~ ~ ~, I^Irl~r q ' C ~ ~ -" p r x~ ~t'4"f ~ ~ ~ -. 1 C.71 ~.,.. O WHEN RECORDED MAIL TO: Bank of Clarks Farmers State Bank, A Branch of Bank of Clarks 2nd & Vine Street P. O. Box 246 Silver CrQek, NE 65663-0246 _-SE ONLY F R RECORDER'S U,,,,,,_ DEED OF TRUST MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 590,000.00. o ry ~~ c~ THIS DEED OF TRUST is dated July 17, 2009, among pawn M. Peard, a single person, whose address is 1710 Columbia Circle, Grand Island, NE 68801 (''Trustor"); Bank of Clarks, whose address is Farmers State Bank, A Branch of Bank of Clarks, 2nd & Vine Street, P. O. Box 246, Silver Creek, NE 68663-0246 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"-; and Bank of Clarks, whose address is 301 N. Green, P.D. Box 125, Clarks, NE 6862$-0125 (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH 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 or 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 pr irrigation rightsl; and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") Ipcated in H811 County, State of Nebraska: Lot Four (41 In Block Thirty-One (311, in Russel Wheeler's Addition to the City of Grand Island, Hall County, Nebraska. The Real Property or its address is commonly known as 411 E. 11th, Grand Island, NE 68801. CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of Trustor to Lender, or any ono pr more of them, as well as all claims by Lender against Trustor or any one or more of them, whether now existing pr hereafter arising, whether related or unrelated to the purpose of the Nate, whether voluntary pr otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute pr contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with others, whether pbligated 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 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 Trustor, together with all interest thereon; however, in no event shall such future advances (excluding interest) exceed in the aggregate 590,000.00. 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 tc Lender a Uniform Commercial Code security interest in the Personal Property and Ronts. THIS DEED OI= TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND IBI PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all pf Trustor's obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the pccurrence of an Event of Default, Trustor may 111 remain in possession and control of the Property; 12- use, operate or manage the Property; and 13- collect the Rents from the Property. Duty to Maintain. Trustor shall maintain the Property in good condition and promptly pertprm all repairs, replacements, and maintenance necessary to preserve its value. Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the peripd of Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person an, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, la- any breach or violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual pr threatened litigation or claims of any kind by any person relating to such matters; and 131 Except as previously disclosed to and acknowledged by Lender in writing, la- neither Trustor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Wazardous Substance on, under, about or from the Property; and Ib) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to 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 purposes only and shall not be construed to create any resppnsibility or liability on the part of Lender tp Trustor or to any other person. The representatipns and warranties contained herein are based pn Trustor's due diligence in investigating the Prpperty for Hazardous Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any such laws; and (2) ogress to indemnify, defend, and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach pf this section of the peed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or ~~ co ~~ cn ~I rV C gym,,. ~ ZZ