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<br /> WHEN RECORDED MAIL TO:
<br /> Bank of Clarks
<br /> Farmers State Bank, A Branch of Bank of Clarks 5 5Q
<br /> 2nd & Vine Street 7
<br /> P. 0. Box 246
<br /> Silver Creek, NE 68663-0246 FOR RECORDER'S USE ONLY
<br /> DEED OF TRUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $50,000.00.
<br /> THIS DEED OF TRUST is dated March 10, 2010, among Jon W. Fitchhorn, whose address is 4420 W. 13th,
<br /> Grand Island, NE 68803 and Kelly S. Fitchhorn, whose address is 4420 W. 13th, Grand Island, NE 68803;
<br /> husband and wife as joint debtors. ("Trustor"); Bank of Clarks, whose address is Farmers State Bank, A
<br /> Branch of Bank of Clarks, 2nd & Vine Street, P. 0. Box 246, Silver Creek, NE 68663-0246 (referred to below
<br /> sometimes as "Lender" and sometimes as "Beneficiary"); and Bank of Clarks, whose address is 301 N. Green,
<br /> P.O. Box 125, Clarks, NE 68628-0125 (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 /> Lot Seventeen (17), in Block Three (3), in College Addition to West Lawn, in Grand Island, Hall County,
<br /> Nebraska.
<br /> The Real Property or its address is commonly known as 2402 N. Grand Island Ave., Grand Island, NE 68801.
<br /> CROSS-COLLATERALIZATION• In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br /> thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of them,
<br /> whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br /> whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor
<br /> may be liable individually or jointly with others, whether obligated as guarantor, surety; accommodation party or otherwise, and whether
<br /> recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br /> such amounts may be or hereafter may become otherwise unenforceable,
<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 Deed 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; however, in no
<br /> event shall such future advances (excluding interest) exceed in the aggregate $50,000.00.
<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.
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br /> UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br /> FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except 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 /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br /> governed by the fallowing 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 (3) 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; (1) 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, (a) any breach or violation of any
<br /> Environmental Laws, (b) 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 (3) Except as previously disclosed to and
<br /> acknowledged by Lender in writing, (a) 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 harmless Lender against any and all
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