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<br /> WHEN RECORDED MAIL TO:
<br /> Equitable Bank 3Q, ~O
<br /> PO Box 160
<br /> Grand Island NE 68802-0760 r 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 $53,569.75.
<br />
<br /> THIS DEED OF TRUST is dated December 6, 2010, among ROBERT C ALMQUIST, whose address is 4212
<br /> NORDIC RD, GRAND ISLAND, NE 68803 and AMY L ALMQUIST, whose address is 4212 NORDIC RD,
<br /> GRAND ISLAND, NE 68803; HUSBAND & WIFE ("Trustor"); Equitable Bank, whose address is Diers Avenue
<br /> Branch, PO Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes
<br /> as "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is 113-115 N Locust St; PO Box
<br /> 160, Grand Island, NE 68802-0160 (referred to below as "Trustee").
<br /> CONVEYANCE AND GRANT. For 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 rill 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 ridhls); and all other rights, royalties, and profits relating to the real
<br /> property, including without dirnitation all minerals, oil, gas, geothermal rand similar matters, (the "Real Property") located in HALL
<br /> County, State of Nebraska:
<br /> LOT TWO (2), IN LE HEIGHTS THIRD SUBDIVISION, IN THE CITY OF GRANT] ISLAND, HALL COUNTY,
<br /> NEBRASKA.
<br /> The Real Property or its address is commonly known as 4212 NORDIC RD, GRAND ISLAND, NE 68803• The
<br /> Real Property tax identification number is 400157691.
<br /> REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving line of credit, which
<br /> obligates Lender to make advances to Trustor so long as Trustor complies with all the terms of ilia Credit Agreement. Such advances may
<br /> be rnade, repaid, and rennade frorn time to time, subject to the limitation that the total Outstanding balance owing at arty one time, not
<br /> including finance charges on such balance at a fixed or variable rate or 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 front time to time from zero up to the Credit Limit as provided in tine 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 Fill 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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br /> AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br /> DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provide(] in this Deed of Trust, Truster shall pay to Lender all amounts secured by
<br /> this Deed of Trust as they become due, arid shall strictly arid in a timely manner perform all of Trustor's obligations under the Credit
<br /> Agreement, this Deed of "Trust, and the Related Documents.
<br /> POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that T"rustor's possession and use of the Property shall be
<br /> governed by the following provisions:
<br /> Possession and Use. Until the occorrence of an Event of Default, Trustor may (1) remain in possession and contiol of the Properly;
<br /> (2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br /> Duty to Maintain. Truster shall rnainiain the Property in good 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: (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 person on, under, about or from the Property; (2) Trt,rstor has no knowledge of, or reason to 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 /> Environmental Laws, (h) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br /> Hazardous Substance on, under, about or from the Property by airy prior owners or or;c:upants of the Property, or (c) ally actual or
<br /> threatened litigation or claims of 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 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 I lazardouS Substance on, under, about or from the 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 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 rnacde by Lender shall be. for Lender's purposes only and shall not be
<br /> construed to Create any responsibility or liability oil the part of Lender to Trustor or to any other person. The representations and
<br /> warranties contained herein are based on "f'ntstor's clue diligence in investlgaling the Properly for Hazardous Substances. TrusLOr
<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 to indemnify, defend, and hold harmless Lender against any and all
<br /> claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or irtr]irecLly sustain or suffer resulting from a
<br /> breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br /> threatened release occurring prior to Trustor's ownership or interest in ldre Property, whellter 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
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