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<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch „
<br />810 Allen Dr
<br />,Grand Island. NE 613803 FOR RECORDER'S USE.ONLY
<br />DEED OF TRUST
<br />~~
<br />THIS DEED OF TRUST is dated January 29, 2010, among David W. Gallion, whose address is 1410 W. °
<br />G
<br />Division, Grand Island, NE 68801 and Gloria R. Gallion, whose address is 1410 W. Division, Grand Island, NE
<br />68801; as Husband and Wife ("Trustor"); Platte Valley State Bank Sr Trust Company, whose address is PVSB
<br />Grand Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"); and Platte Valley State Bank 8 Trust Company, whose address is 810 Allen Dr,
<br />Grand Island, NE 68801 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, far 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 />A RECTANGULAR PIECE OF LAND HAVING A FRONTAGE OF ABOUT SIXTY (61) FEET ON DIVISION
<br />STREET AND ONE HUNDRED THIRTY-TWO (132) FEET IN DEPTH ON THE SOUTHERLY LINE OF THE
<br />ALLEY BETWEEN DIVISION AND FIRST STREETS, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS,
<br />TO-WIT: COMMENCING AT A POINT ON THE SOUTHERLY LINE OF LOT "B" IN ELM PLACE ADDITION
<br />TO THE. CITY OF GRAND ISLAND, NEBRASKA, SAID POINT BEING TWENTY (20) FEET WESTERLY OF
<br />THE 50UTH-EASTERLY CORNER OF SAID LOT "B", RUNNING THENCE WESTERLY FIFTY-TO (52) FEET,
<br />PARALLEL WITH AND IN THE NORTHERLY LINE OF DIVISION STREET TO A POINT, THE REAL PLACE OF
<br />BEGINNING, THENCE RUNNING NORTHWESTERLY AND PARALLEL WITH THE EASTERLY LINE OF SAID
<br />LOT "B", A DISTANCE OF ONE HUNDRED THIRTY-TWO (132) FEET TO THE ALLEY AFORESAID, THENCE
<br />TURNING A RIGHT ANGLE AND RUNNING SOUTH-WESTERLY ALONG THE SOUTHERLY INE OF SAID
<br />ALLEY, A DISTANCE OF SIXTY-ONE (fit) FEET, MORE OR LE55, TO THE NORTHWESTERLY CORNER OF
<br />FRACTIONAL LOT SEVEN (7) IN BLOCK TWENTY-ONE (21) OF PALMER"S SUBDIVISION OF LOT SEVEN
<br />(7) OF THE COUNTY SUBDIVISION OF THE SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER OF
<br />SECTION 51XTEEN (1fi), TOWNSHIP ELEVEN (11), RANGE NINE (9), WEST OF TWE 6TH P.M., THENCE
<br />TURNING AT RIGHT ANGLES AND RUNNING IN A SOUTHEASTERLY DIRECTION AND PARALLEL WITH
<br />THE WESTERLY LINE OF SAID BLOCK 21 A DISTANCE OF ONE HUNDRED THIRTY-TWO (132) FEET TO
<br />THE NORTHERLY LINE OF DIVISION STREET, AND THENCE AT RIGHT ANGLES NORTHEASTERLY ALONG
<br />SAID NORTHERLY LINE OF DIVISION STREET, A DISTANCE OF SIXTY-ONE (fit) FEET, MORE OR LESS,
<br />TO THE REAL PLACE OF BEGINNING AND BEING ALL OF LOT SEVEN (7), BLOCK TWENTY-ONE (21),
<br />PALMER'S SUBDIVISION ABOVE DESCRIBED AND A PART OF LOT EIGHT (8) OF THE COUNTY
<br />SUBDIVISION OF THE SOUTHEAST QUARTER OF THE SOUTHWEST QUARTER OF SECTION SIXTEEN
<br />(1fi), IN TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9), WEST OF THE 6TH P.M., HALL COUNTY,
<br />NEBRASKA.
<br />The Real Property or its address is commonly known as 1410 W. Division, Grand Island, NE 68801. The Real
<br />Property tax identification number Is 400072734.
<br />CROSS-COLLATERALIZATION. In addition to the Credit Agreement, this Deed of Trust secures all obligations, debts and liabilities, plus
<br />interest thereon, of Trustor to Lander, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of
<br />them, whether now existing nr hereafter arising, whetherrelated or unrelated to the purpose of the Credit Agreement, whether voluntary or
<br />otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated,
<br />whether Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br />otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether
<br />the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. If the Lender is required to give notice of
<br />the right to cancel under Truth in Lending in connection with any additional loans, extensions of credit and other liabilities or obligations of
<br />Trustor to Lender, then this Deed of Trust shall not secure additional loans or obligations un-ess and until such notice is given.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without Ilmltatlan, a revolving Ilne of credit, which
<br />obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at any one time, not
<br />including finance charges on such balance at a fixed or variable rate or sum as provided in the Credit Agreement, any temporary overages,
<br />other charges, and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement
<br />and any Intermediate balance.
<br />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
<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.
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