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<br />WHEN RECORDED M O:
<br />Equitable Bank
<br />Diars Avenue Branch ~~~
<br />PO Box 7 60
<br />' R
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The Ilan of this Dead of Trust shall not exceed at any one time $45,600.00,
<br />THIS DEED OF TRUST is da#ed November 18, 2008, among JOSEPH W. MUDLOFF and SHIRLEE J. MUDLOFF,
<br />whose address is 553 STAGECOACH RD, GRAND ISLAND, NE 68801 ("Trustor"1; Equitable Bank, whose
<br />address is Diera Avenue Branch, PO Box 160, Grand Island, NE 68802-016Q (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary"'1; and Equitable Bank (Grand Island Region), whose address is
<br />113-715 N Locust St; p0 Box 7 60, Grand Island, NE 68802-0160 (referred to below as "Trustee" 1.
<br />CONVEYANCE AND QRANT. For valuable aonaideration, Trustor conveys to Truatae in trust, WITW POWER QF SALE, for the benefit of
<br />Lender as Beneficiary, all of Truator'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 eaSementa, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rightal; and all other riahta, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the °Real Property°) IOCated in HALL
<br />County, State of Nebraska:
<br />SUITE THREE (3), FAIRWAY ESTATES CONDOMINIUM PROPERTY REGIME I, IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />The Real Property ar Its address is commonly known as 553 STAGECOACH RD, GRAND ISLAND, NE 68807.
<br />The Raal Property tax identification number is 400329999.
<br />Trustor presently assigns to Lender (also known ea Beneficiary in this Dead of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all RQnta from the Property. In addition, Truster grants to Lender a Uniform Commercial
<br />Gode security interest in the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND TWE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND IB- PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN ANp ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la- this peed of Trust is executed at Borrower's request and
<br />not at the request of Lander; (b) Trustor has the full power, right, and authority to enter into this Dead of Trust and to hypothecate the
<br />Property; Ic1 the provisions of this Dead of 7ruat do not conflict with, or result in a default under any agreement ar other instrument
<br />binding upon Trustor and do riot result in a violation of any law, regulation, court decree or order applicable to Trustor; Id- Trustor has
<br />established adequate means of obtaining from Borrower on a cpntinuing basis Information about Borrower's financial condition; and le)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the craditwarthineas of Borrower(.
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "ono action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including a claim far deficiency to the extant Lender la otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in Chia Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by this Dead of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Nata,
<br />this Dead of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may 111 remain in possession end control of the Property;
<br />12- use, operate or manage the Property; and 13- collect the Rents from the Property.
<br />Duty to Main#ain. Trustor shall maintain the Prgperty in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws_ Truster 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, [rea>7ment, disposal, release or threatened release of any
<br />Hazardous Substance by any person an, under, about or frpm the Property; 12- Truatar has na knowledge af, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, Ihl any use, generation, manufacture, storage, treatment, disposal, release ar threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c1 any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (31 Except as previously disclosed to and
<br />acknowledged by Lender in wrking, la- Walther Truster 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 an, under, about or from the Property;
<br />and (b1 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 Lawa. Trustor authorizes Lender and Its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor'a 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 reapansibility ar liability nn the part of Lander to Truatpr or to any other parson. 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 Truster becomes liable far
<br />cleanup or other costs under any such laws; and 12) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
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