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<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank /~
<br />P.O. Box 760 ,~ "~'
<br />#74 LaBarre
<br />Gibbon. NE 68840. FOR RECORDER'S U5E_ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated July 20, 2010, among DENNY JOE WATKINS and BONEITA P WATKINS,
<br />HUSBAND AND WIFE, AS JOINT TENANTS AND NOT AS TENANTS IN COMMON ("Trustor"); Exchange Bank,
<br />whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender"
<br />and sometimes as "Beneficiary"-; and EXCHANGE BANK, whose address is 1204 ALLEN DR / PO BOX 5793,
<br />GRAND ISLAND, NE 68802 (referred to below as "Trustee"1•
<br />CONVEYANCE AND GRANT. Far 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 rightsl; and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (t a "Real Property") located In WALL
<br />County, State of Nebraska:
<br />ALL OF LOT TEN 1101 AND TWE EAST TWO FEET (E 2') OF LOT ELEVEN (17) IN FRACTIONAL BLOCK
<br />SEVENTEEN (17), ASHTON PLACE, AN ADDITION TO TWE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA, EXCEPTING A CERTAIN TRACT OF LAND MORE PARTICULARLY DESCRIBED AS: THE
<br />SOUTH SEVEN FEET IS 7') OF LOT TEN (10) AND THE SOUTH SEVEN FEET IS 7'1 OF THE EASTERLY
<br />TWO FEET (E 2'1 OF LOT ELEVEN (711, BLOCK SEVENTEEN (171, ASHTON PLACE ADDITION, AN
<br />ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 2713 - 2715 W KOENIG, GRAND ISLAND, NE
<br />68803. The Real Property tax identification number is 400012707.
<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 Lander 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.
<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 1B1 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 duo, 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 Trustar'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 (S) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable 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 or 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 Lander in writing, (a) any breach or violation of any
<br />Environmental Laws, Ib) 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 prim owners or occupants of the Property, or Ic1 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, (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 (bl 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 nn Trustor's duo diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby 111 releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
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