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<br />WHEN RECORDED'~IbIA1L TU'~~ vi
<br />'~ttltable Bank
<br />Diers Avenue Branch
<br />PO Box 160
<br />Grand Island NE B8802-0160 FOR RECORDER'S USE ONLY
<br />DEAD OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 52,774.25.
<br />a
<br />THIS DEBD OF TRUST is dated September 1, 2U1U, among MICHAEL R KNOP, whose address is 5524 N
<br />GUNBARREL RD, GRAND ISLAND, NE 6$8U1 and DORLA J BURNETT, whose address is 5524 N GUNBARREL
<br />RD, GRAND ISLAND, NB 6$8U1; BOTH SINGLE PERSONS ("Trtrstar"); Equitable Bank, whose address is Diers
<br />Avenue Branch, PO Bax 160, Grand Island, NE 688U2-U16U (referred to below sometimes as "Lender" and
<br />sometimes as "Beneficiary"'); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust
<br />St; PO Bax 160, Grand Island, NE 68802-0160 (referred to below as ""Trustee"-.
<br />CONVEYANCE AND GRANT. Far valuable considaratiort, Trustor conveys tv Trustee in trust, WITH POWER OF SALT, fvr the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following desr,ribed real property, together with all existing or
<br />subsequently erected or affixed buildings, irnprovernents and fixtures; all easements, rights of way, and appf.rrtenances; all water, wafer
<br />rights and ditr•.h rights (including stock in ulilit.ies with ditch or irrigation righlsl; and all other rights, royalties, and profits relating to thn real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar rnalfers, (the "Real Property") located In MALL
<br />County, State of Nebraska:
<br />LOT ONE (1) OTTO-PETERS SUBDIVISION, IN HALL COUNTY, NEBRASKA
<br />The Real Property or its address is commonly known as 5524 N GUNBARREL RD, GRAND ISLAND, NE
<br />68801. The Real Property tax identification number is 4QU42U856.
<br />Trustor presently assigns to Lender (also known as Benefir•,iary in this Dertd of Trust) all of 'Trustor's right, title, and interest in and to all
<br />present and future leases of the Property anr.1 all Rents from the Property. In addition, Trustor grants to Lender a Uniform Cornnrc;rrial
<br />Code 5erurity interest in the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE A5SIGNMENT OF RENTS AND THE SECURITY INTEREST IN TFIE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TD SECURE IAI 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 15 GIVEN AND ACCEPTED ON T'HE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in ibis Deed of Trust, Trustor shall pay fo L,.ender all amounts secured by
<br />this Deed of TYust as they become due, and shall strictly and in a timely manner perform all of 1'rustor's obligations under the Noto, this
<br />Ueed 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 nrourrencn of an Event of Default, Trustor may (1) remain in f.>ossession and control of the Property;
<br />(2) use, operate nr manage the Property; and 131 r:olh.rt the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Properly in good condition and prornfttly perform all repairs, replar•.ements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: I1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treaunent, disposal, release or threatened release of any
<br />Hazardous Substance by any person nn, under, about or from the Property; 121 Trustor has nn knowledge of, or reason tc believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, la) any breach or violation of any
<br />Environmental Laws, Ib) any use, generation, manufacture, storage, treatment, disfosal, release or threatened release of any
<br />Hazardous Substance on, under, about nr from the Property by any prior owners or occupants of the Property, or (r.) 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, stare, treat, dispose of or release any Hazardous Substance nn, under, about or from the Property;
<br />and (b) any such activity shall be r.,ondur..ted in rontpliance with all applicatile 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 Lrncier may deem appropriate to determine compliance of the Property
<br />with this section of the Dead of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not he
<br />construed to r..reate 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 rliligenr•.rt in investigating the Property for Hazardous Substances. Trustor
<br />hereby 11) releases and waives any future claims against Lender for indemnity nr rnntribution in the event -Trustor becomes liable for
<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 Lander may directly or indirer•.tly sustain or suffer resulting born a
<br />breach of this section of the Deed of Trust or as a consequence of any use, yenaration, manufacture, stor'aye, disposal, relnasn 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 Ind~htedness and the satisfaction and reconveyance of the lien of this Deed of Trust anti shall not be
<br />affected by Lender's acquisition of any interest in the Property, Whetkl P,r by fOrP.CIOSIJre or ntflerWlSP•.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor r.,ommit, permit, or suffer any stripping n( nr waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any tirnher, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rook products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Irnprnv[tments from the Real Property without Lender's I:rrior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Trustor to make arrangements satisfactory
<br />
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