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~.~ ~ ~~ ~ x ~p C = ° ~ ~ ~" z C) Z ~c ~i ~ n ~ ~ ~ to ~ ~ ~ ~ ~ ~ ~ ~ ca ~ ~ o ~ y ~~ ~ _ ~ ~ p ~ C~7 N '~'~ O ~ ~ ~ r`J ~ ~' ~t~ ~_ v~ ~ m --~ ~ m c~ Z ~ n '~ Ca ~ Imo` A ~ ^'^I r~ '~~,11t ~ G„j j~ f V C CtD [n ,.J _ -. ~ ~ -- - 0 WHEN RECORDED MAIL TO: Nebraska National Sank 3110 2nd Avenue P.p, Box 397 Kearney, NE 68848-0397 FOR RECORDER'S USE ONLY DEED OF TRUST ~ ~ THIS DEED OF TRUST is dated August 26, 2009, among Brian P. Schard# and Libby D. Schardt, husband and ~~~ ~' wife ("Trustor"1; Nebraska National Bank, whose address is 3110 2nd Avenue, P.O. Box 397, Kearney, NE 6884$-0397 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Nebraska National Bank, whose address is PO Box 397, Kearney, NE 68848 (referred to below as "Trustee"-. CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, far 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 pf way, and appurtenances; all water, water rights and ditch rights lincluding stock in utilities with ditch or irrigation rights; and all other rights, rpyalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") IOCated In Hall County, State of Nebraska: Lot Two (2-, Block Two 12), Ponderosa Lake Estates Fifth Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska The Real Property or its address is commonly known as 407 Ponderosa Drive, Grand Island, NE 68803. The Real Property tax identification number is 400405784. 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 pF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNE55 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: TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la- this Deed of Trust is executed at 13arrawer's request and not at the request of Lender; Ib) Trustor has the full power, right, and authority to enter into this Desd of Trust and to hypothecate the Prpperty; Ic- the provisions of this Desd 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 prder applicable to Trustor; Idl Trustor has established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and le- Lender has made no representation to Trustor about Borrower lincluding 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 foraalosure action, either judicially or by exercise of a power of sale. PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note, this Deed of Trust, and the Related Documents. P05SESSION 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 Usa. Until the occurrence of an Event of Default, Truster may 11) remain in possession and cantrpl of the Property; 12- use, operate or manage the Property; and 131 collect the Rents from the Property. Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period 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 on, under, about ar frpm the Property; 121 Trustor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, Ia1 any breach pr violation of any Environmental Laws, Ib1 any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance an, under, about or from the Property by any prier pwners or occupants of the Property, or Ic1 any actual or threatened litigation or claims of any kind by any person relating to such matters; and (3- Except as previously disclosed to and acknowledged by Lender in writing, Ia) 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 Hazardous Substance on, under, about ar from the Property; and Ibl any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and prdinancss, 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 sactipn 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 responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor hereby 111 releases and waives any future claims against Lander far indemnity or contribution in the event Trustor becomes liable fpr cleanup or other costs under any such laws; and 121 agrees to indemnify, defend, and held harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting frpm a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive the payment of the Indebtedness and the satisfaction and reconvayance of the lien of this Deed of Trust and shall net be affected by Lender's acquisitipn pf any interest in the Property, whether by foreclosure or otherwise.