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<br />WHEN �E�ORDED MAI�TO:
<br />Equita6le Bank � �
<br />North Locust 8ranch � Q'
<br />913-715 N Lacust St
<br />Pb Box 160 - _ -
<br />Gr d Isl N� 68802-0960 F R RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN, The lien of this Deed of Trust shall not exceed at any one time $20,000.00.
<br />THIS DEED QF TRUST is dated December 2, 2010, among JOHN STADE, whase address is 911 E SOUTH ST,
<br />GRAND ISLAND, NE 68801 and KATHERIN� STADE, whase address is 911 E SOUTM ST, GRANb ISLAND,
<br />NE 68$01; HUSBAND AND WIFE ("Trustor"►; �quitable Bank, whose address is North Locust Branch,
<br />193-715 N Locust St, PO Box 160, Grand Island, NE 68802-076p (referred to below sometimes as "l.ender"
<br />and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region►, whose address is 173-115 N
<br />Locust St; PO Box 160, Grand Island, NE 68802-01�0 (referred to belaw as "Trustee"►.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor canveys to Trustee in trust, WITH POWER pF SALE, for the benefit of
<br />Lender as Beneficiary, all vf Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easemsnts, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigatian rights►; and all other rights, rnyalties, and profits relatin to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (thA �� Real Proper#y IoCatB in HALL
<br />County, State of Nebraska:
<br />LOT SEVEN (7►, IN PLEASANT VIEW TMIRTEEN7H SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL
<br />COUNTY,NEBRASKA
<br />_ 7he Real. Praperty. or its address�s commonly knauun as 9-71 E.SOUTH St, GFiAND ISLAND, N� 68$g-1, -The
<br />Real Property tax identification number is 4p0420740.
<br />REVQLVING LINE OF CREDIT. 7his peed of Trust secures the Indehtedness including, without limitation, a revolving line of credit, which
<br />obligates Lender to maka 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 #ime to time, subject to the limitation that the total outstanding 6alance bwing at any one time, not
<br />including finance charges on such balance at a fixed or variable rate ar 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 ths Credit Limit as provided in the Gredit Agreement. It is the intentlon of Trustor and Lender that this Deed of Trust secures the
<br />balance outstanding undar the Credit Agreement from time to time fram zero up to the Credit Limit as provided in the Credit Agreement
<br />and any intermediate 6elance.
<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 DEEp OF tF1UST, INCLUDING THE ASSIGNMENT OF R�NTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENt OF THE INDEBTEDNESS AND (B) RERFORMANC� OF EACM OF TRUSTOR'S
<br />AGREEMENTS AND QBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />bEEp OF TRUST IS GIVEN ANb /�CCEPTED QN THE FQLLOWING TERMS:
<br />PAYMENT AND pERFORMANCE. Except as otherwise provided in this beed of Trust, Trustor shall pay to Lender all amounts seoured 6y
<br />this Deed of Trust as they 6ecome due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />POSSES510N AND MAINTENANC� OF THE PROPERTY. Trustnr agrees th�t Trustor's possession and use of the Prnperty shall be
<br />governed by the follawing 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) uss, operate or manage the Prvperty; and (3) collect the Rents from the Property.
<br />Duty to Maintain. 7rustor shall maintain the Property in good condition and promptly perform ail repa -s, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Envirvnmental Laws. Trustor represents and warrants to Lender 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 />Hazardous Substance by any persan on, under, abvut or from the Property; (2) Trustor has no knowlsdge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowfedged by Lender in writing, (a) any breach or violation of any
<br />Envirnnmental Laws, (b1 any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about vr from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any persan relating to such matters; and (3) Except as previously disclosed to and
<br />acknowiedged by Lender in writing, (a) neither Trustpr nor any tenant, contractor, agent or other suthorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Prnperty;
<br />and (b) any such activity shall 6e conducted in compliance wi#h all applicable tederal, 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 Trus#ar's expense, as Lender may deem appropriate ta determine compliance of #he Property
<br />with this sectivn of the Deed af 7rust. 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 othsr person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property fnr Hazardous SubsTances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees #o 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 sectian of the Deed of 'Trust or as e consequence of any use, generation, martufacture, storage! disposal, release or
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