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<br />Equitable Bank ~ ~ 5 ~
<br />Diers Avenue Branch
<br />PO Box 160
<br />r Islan N 68802- FOR RE ROER'S USE ONLY
<br />DEFD OF TRUST
<br />MAXIMUM LIEN. The lien of this Dead of Trust shall not exceed at any one time $32,000.00.
<br />THIS DEED OF TRUST is dated July 31, 2009, among Richard H. Baasch and Arlene M. Baasch, whose
<br />address is 127 E AIRPORT RD, GRAND ISLAND, NE 68803 ("Trustor"); Equitable Bank, whose address is
<br />Diers Avenue Branch, PO Box 160, Grand Island, NE 6$802-0160 (referred to below sometimes as "Lender"
<br />and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N
<br />Locust St; PO Box 160, Grand Island, NE 68802-0160 (referred to below as "Trustee").
<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 rightsl; 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 />Part of the NW1/4NW1/4 of Section 4, Township 11 North, Range 9 West of the 6th P.M., Hall County,
<br />Nebraska, more particularly described as follows: Beginning at a point on the North line of said Section 4,
<br />said point being 392.55 feet east of the Northwest corner of said Section 4, thence easterly along the
<br />North line of said Section 4, a distance of 308.0 feet, thence southerly parallel #o the West line of said
<br />Section 4, a distance of 298.5 feet, thence deflecting right 90 degrees, 48 minutes and 4 seconds, running
<br />westerly 308.03 feet, thence north parallel to the West line of said Section 4, a distance of 300.85 to the
<br />point of beginning; EXCEPT tract of land more particularly described in Return of Appraisers Report dated
<br />July 7, 1992 and recorded July 10, 1992 as Document No. 92-106105 of the records of Hall County,
<br />Nebraska.
<br />The Real Property or i#s address is commonly known as 127 E Airport Rd, Grand Island, NP 68801. The Real
<br />Property tax identification number is 400205580.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this bead of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trusti 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 Gommercial
<br />Code security interest in the Personal Property and Rents.
<br />THIS DEEP OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IA) PAYMENT OF THE INDEBTEDNESS AND 18) PERFORMANCE OF ANY ANb ALL OBLIGATIONS
<br />UNDER TWE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST 15 GIVEN ANb ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANGE. Except as otherwise provided in this heed 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 />12- use, operate or manage the Property; and 131 collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary tc preserve its value.
<br />Gvmpliance With Environmental Laws. Trustor represents and warrants to Lender that: 111 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, la) any breach or violation of any
<br />Environmental Laws, Ib) 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 Ic1 any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and 131 Except as previously disclosed to and
<br />acknowledged by Lender in writing, la- neither Trustor nor any tenant, contractor, agent ar other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about nr from the Properly;
<br />and Ib1 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 Hazardous 5ubstancPS. Trustor
<br />hereby 11- releases and waives any future claims against Lender for indemnity or contril3ut'~p(~ .iq the By tlgrustgr becomes liable for
<br />cleanup or other costs under any such laws; and 121 agrees to indemnify, defend, artri hdlel'Hsrmlei~L`erlder)against any and all
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