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<br />WHEN RECORDED MAIL TO:
<br />Equlteble Bank
<br />North Locust Branch ~~_
<br />713-7 7 5 N Locust St
<br />PO Box 7 60
<br />Gr nd Islan NE 6 02-0760 ! OR RE ORDER'S USE ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $140,000.00.
<br />THIS DEED OF TRUST is dated October 29, 2009, among Eloy R. Uribe and Oralia D. Erives; Husband and Wife
<br />("Trustor"1; Equitable Bank, whose address is North Locust Branch, 113-115 N Locust St, PO Box 160, Grand
<br />Island, NE 68802-0160 (referred #ta below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />Equitable Bank (Grand Island Regionl, whose address is 113-115 N Locust St; PO Box 160, Grand Island, NE
<br />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 rights; 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 />Parcel 1: Lot Two 12), FRF Second Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />Parcel 2: Lots Thirteen (13) and Fifteen (151, Block Fourteen (14-, University Place, an addition to the
<br />Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 2104 N Sherman Blvd and 1918 N Park, Grand Island,
<br />NE 68803. The Real Property tax identification number is 400045265, 400100649.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trustl ail 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 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 GIVEN TO SECURE IA) PAYMENT OF TWE INDEBTEDNESS AND Iel PERFORMANCE 01= ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF
<br />RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUSt. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING tERMS:
<br />PAYMENT AND PERFORMANCE. EDccept 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 />CONSTRUCTION MORTGAGE. This Deed of Trust is a "construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Code, as those sections have been adopted by the State of Nebraska.
<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 />(2- use, operate or manage the Property; and 131 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 />Compliance With Environmental Laws. Trustor represents and warrants to Lender that; 11) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release ar threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; 121 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, Ia1 any breach or violation of any
<br />Environmental Laws, Ib1 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 (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and 13) Except as previously disclosed to and
<br />acknowledged by Lender in writing, la1 neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) 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 Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harrpless Le~de~ ai~st any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indir'e~ti~ i§usEain 6r Suf~r Y~sulting from a
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