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<br />WHEN RECORDED MAI�TO:
<br />Platte Valley 5tate Bank & 1"rust Company �s C� Q
<br />-.- PVSB Grand Island Branch /'' rJ °�jV�(, �/(�� _ _...... _ .__ _
<br />810 Allen Dr
<br />Grand Island NE 8 3 t72.- FOR RECORDER'S IJSE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUSl" is dated November 2, 2010, among Mark K. Oberbeck, whose address is 803
<br />Sagewood Avenue, Grand Island, NE fi8803 and Paula C. Oberbeck, whose address is 803 Sagewood
<br />Avenue, Grand Island, NE 68803; as Husband and Wife ("Trustor"); Platte Valley State Bank & Trust
<br />Company, whose address Is PVSB Grand Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to
<br />belaw sametimes as "Lender" and sometimes as "Beneficiary"); and Platte Valley State Bank 8� Trust, Co. Inc.,
<br />whose address is PO Box 430, Kearney, NE 68848-0430 (referred ta belaw as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WItH POWER dF 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 6uildings, improvements and fixtures; all aasements, 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 ri hts, ro alties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (t " Real Property located in H811
<br />County, State of Nebraska:
<br />Lot 109, LaRue Subdivision In the City of Grand island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 803 Sagewood Avenue, Grand Island, NE fi88Q3.
<br />The Real Property tax identification number is 400433362.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtadness including, without Iimitatlon, a revolving Iine of credit, which
<br />o6ligates Lendar to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at any one time, not
<br />including finance charges on such halance at a fixed or varlable rate pr sum as provided in the Credit Agreement, any temporary overages,
<br />other charges, and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It is the intention of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit Limit as provided in the Credit Agreement
<br />and any intermediate balance.
<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 ths Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE A551GNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS ANb PERSdNAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INbEBT�DNES5 AND (B) PERF4RMANCE OF EACH OF TRUSTOR'S
<br />AGREEMEN7S AND OBLIGATIONS UNDER THE CRE�IT AGREEMENT, 7HE RELA7ED DOCUMENTS, AND 7HIS DEED OF TRUST. TH15
<br />DEED OF TRUSt IS GIVEN AND ACCEP7ED QN 7HE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANC�. Except as otherwise provided in this �eed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this beed of Trust as they become due, and shall strictly and in a timely manner pertorm all of Trustor's obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THF PROPERTY. Trustor agrees that Trustor's possession and use of the Property sh�ll be
<br />gavarned by the failowing provisians:
<br />Possession and Use. Until the qccurrence of an Event af Default, 1"rustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Ftents 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 />Complianca With Environmental Laws. Trustqr rapresenYS and warrants to l.ender 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 />Hazardaus Sub5tance by any perspn on, under, abput or frpm the Property; (2) l'rustar has no knowledge of, or reason ta 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 />�nvironmental Laws, (b) 3ny use, generation, manufacture, storaga, treatment, disposal, release or thre8tened release af 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 af 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 "I'rustor nor any tenant, contractor, agent or other authorized user pf the Property
<br />shall use, generate, manufacture, store, treat, dispase af pr release any Hazardous Substancp pn, under, about or from ths 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 Prpperty
<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 Lander'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 invastigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contributivn in the event Trustor decomes 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
<br />claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach af this section nf the Deed vf Trust qr as a consequence of any use, generativn, manufacture, storage, disposal, release or
<br />threatened release occurring prior ta Trustors ownership or interest in the Property, whether or not the same was or should have
<br />been known ta 7rustar. The provisions pf this section of the beed of Trust, including the qbligatian 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 or otherwise.
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