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<br />WHE ~C RD)=D MAI TO:
<br />Equitable Bank
<br />North Locust Branch ~ G
<br />713-775 N Locust St J
<br />Pp Box 7 60 -
<br />rand I and NE 68802- 160 FOR ECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall no# exceed at any one time $30,103.75.
<br />THIS DEED OF TRUST is dated June 7, 2010, among STEPHEN D SCHAUER, whose address is 63 KUESTER
<br />LK, GRAND ISLAND, NE 68801 and JANET G SCHAUER, whose address is 63 KUESTER LK, GRAND
<br />ISLAND, NE 688018609; HUSBAND AND WIFE ("Trustor"1; Equitable Bank, whose address is North Locust
<br />Branch, 113-115 N Locust St, PO Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as
<br />"Lender" and sometimes as "Beneficiary"-; and Equitable Bank (Grand Island Region-, whose address is
<br />113-115 N Locust St; PO Box 160, Grand Island, NE 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, to and under the Lease described below of the following described real
<br />property, together with all existing nr subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way,
<br />and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rightsl; and all other rights,
<br />royalties, and profits relating to the real property, including without limitation any rights Trustor later acquires in the fee simple title to the
<br />land, subject to the Lease, and all minerals, cil, gas, geothermal and similar matters, (the °Real Property") IOCated in HALL
<br />County, State of Nebraska:
<br />LOT EIGHT 181, HAVING A LAKE FRONT FOOTAGE OF NINETY-EIGHT (98) FEET, SITUATED ON THE
<br />EAST SIDE OF THE WEST PORTION OF KUESTER LAKE, AND BEING A PART OF THE EAST HALF OF THE
<br />SOWTHWEST QUARTER (E1 /2 SW 1 /4) IN SECTION THIRTEEN (13-, TOWNSHIP ELEVEN (11) NORTH,
<br />RANGE NINE 19) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 63 KUESTER LK, GRAND ISLAND, NE 68807. The
<br />Real Property tax identification number is 400463911.
<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 IAI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND TH15 DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLDWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this ^eed 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 Nnte, 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 following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may 11) remain in possession and control of the Property;
<br />(21 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: j1- During the period of Trustar's leasehold
<br />interest in the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of
<br />any Hazardous Substance by any person on, under, about or from the Property; 121 Trustor has nn knowledge of, or reason to
<br />believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of
<br />any Environmental Laws, (bl 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 Ic- 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, la- 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 Hazardeus 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 far 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 far
<br />cleanup or other costs under any such laws; and 121 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 heed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure nr otherwise, ~ ~
<br />y t
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit,'or Suffer any Strip(ii~g of or waste on
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