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<br />WHEN RECORDED MAIL 70: "'
<br />Exchange Bank
<br />P.O. 6ox 760
<br />#74 LaBarre
<br />Gibbon N 4 FOR RECORDER'S USE ONLY
<br />- CONSTRUCTION DEED OF TRUST
<br />THIS DE�D OF TRUST IS A CONSTRUCTI�N SECURITY AGREEM�NT
<br />WITHIN THE MEANING OF THE NEBRASKA CqNSTRUCTION LIEN ACT
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<br />THIS DEED OF TRUST is dated October 27, 2070, among Paul J. Younes and Linda M. Younes, Husband and
<br />Wife as Joint Tenants ("Trustor"); Exchange Bank, whase address is P.O. Box 760, #14 LaBarre, Gibbon, NE
<br />68840 (referred to belaw sometimes �s "Lender" and sometimes as "Beneficiary"); and Exchange
<br />Bank-Gibbon, whose address is P.O. Box 760, Gibbon, NE 68$40 (referred to below as "Trustee"►.
<br />CONVEYANC� AND GRANT. For valuable consideration, Trustor conveys to 7rustee in trust, WITH PQWER OF SALE, for the 6enefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following descri6ed real property, together with all existing or
<br />suhsequently 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 minsrals, oil, gas, geothermal and similar matters, (the �� Real Property Ibcated in Hall
<br />County, State of Nebraska:
<br />Lot Two (21, Meadowlark West Eighth Subdivisivn, in the City of Grand Island
<br />The Real Property or its address is commonly known as 809 Allen Drive, Grand Isl�nd, NE.
<br />CROSS-CQLLATEFtALIZATION. In addition to the Note, this Daad of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, ot either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower and Trustor
<br />or any one or more of them, whether now existing or hereatter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Bprrpwer pr Trustor may be liable individually or jointly with vthers, whether obligated as guarantor, surety,
<br />accommodation party nr otherwise, and whether recovery upon such emounts may be ar hersafter may become barred by any statute of
<br />limitations, and whether the pbligativn ta repay such amounts may be or hereafter may became ptherwise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower or Trustor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition
<br />to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Borrower nr Trustor, together with all interest
<br />ihereon.
<br />Trustor presently assigns to Lender (also known as Beneficisry 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 Renis from the Proper#y. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />THIS DEED QF TRUST, INCLUDING THE ASSIGNMENT QF REN7S AND THE SECURITY INTEREST IN THE RENTS AND P�RSONAL
<br />PROP�RTY, 15 GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NpT6, TWE RELATED DOCUIVIENTS, AND THIS DEEp OF TRUST. THIS DEEb OF "fRUST, INGLUDING THE ASSIGNMENT OF
<br />RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />BORROWER'S OBLIGATIpNS UNPER THAT CERTAIN CONSTRUCI'IQN LpAN AGREEMENT BETWEEN BORROWER AND LENbER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUC7IUN LOAN AGREEMENT, bR ANY OF THE RELATED DQCUMEN7S
<br />REFERREp TO THEREIN, SHALL ALSQ BE AN EVENT OF DEFAUL7 UNDER THIS DEED pF TRUST. THIS DE�D OF TRUST IS GIV�N AN�
<br />ACCEP'CED pN THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESEN7ATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request end
<br />not at the request of Lender, (b) �rustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions af this beed af Trust do not conflict with, or rasult in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a viplativn of any law, regulation, court decree qr order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining trom 8nrrpwer on a continuing basis information about 8orrpwer's financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Bnrrower►.
<br />TRUSTQR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender trom bringing any action against Trustor, including a claim for deficiancy to the extent Lender is otherwise
<br />entitled to a claim for deficiency, before or after Lender's commencement or completion of any foreclosura action, either judicially or by
<br />exercise of a power pf sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Truskor shall pay to Lender all
<br />Indebtedness secured by this I�ead of Trust as it becomes due, and 8orrawer and Trustor shall strictly perform all their respective
<br />obligations under the Note, this Deed of Trust, �nd the Related Documents.
<br />CONSTRUCtIdN MORTGAGE. This Deed nf Trust is a"construction mortgage" for the purposes af Sections 9-334 and 2A-309 of the
<br />Uniform Commercial Cpde, as those sections have been adapted by the State of Nebraska.
<br />P05SESSION pND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Bprrower's and Trustor's possession and use of
<br />the Property shall be governed by the following prpvisipns:
<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 nr manage the Property; and (3) collect tha Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and pramptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Enviranmental Laws. Trustor represents and warrants to Lender that: (7) 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 thare has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
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