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<br />WHEN RECORDED MAIL T0:
<br />Exchange Bank
<br />P.O. Box 760
<br />#94 LsBarre
<br />Gibbon NE 40 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST ��
<br />�
<br />THIS DEED OF TRUST is dated December 29, 2010, among MICHAEL A PANOWICZ, A/K/A MIKE PANOWICZ �
<br />and PATRICIA M PANOWICZ, A/K/A PATRICIA PANOWICZ ("Trustor"); Exchange Bank, whose address is P.Q. `�`J
<br />Bax 760, #14 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender" and sometimes as
<br />"Beneficiary"1; and Exchange Bank, whose address is P.O. Box 760, Gibban, NE 68840 (referred to below as
<br />"7rus#ee"1.
<br />GQNVEYANCE AND GRANT. For valuable aonsideration, Trustar canveys to Trustes in trust, WITH PpWER pF SALE, for the benofit oT
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together wi[h all exisiing or
<br />suhsequently erected or affixed buildings, impravements 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 oiher rights, royalties, and profits relating to #he real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (thB " Real Property IOCBted in WALL
<br />County, State of Nebraska:
<br />TH� SOUTH HALF OF THE NORTMWEST QUARTER (S1/2 NW1/4) AND THE NORTH HALF OF THE
<br />S�UTHWEST QUARTER (N1/2 SW9/4) OF SECTIQN ELEVEN (11) IN TOWNSHIP TW�LVE (12) NORTH,
<br />RANG� ELEVEN (11) WEST OF 7W� GTH P,M., HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as CAIRO, NE 68824. The Real Proper#y tax
<br />identifica#ian number is 4b0190451.
<br />CROSS-COLLATERALIZATI�N. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of 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 hereafter arising, whether related or unrelated to the purpose of th� Nate, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Borrower or Trustor may 6e Iiable individually or jointly with athers, whether obligated as guarantor, surety,
<br />accommodation perty or otherwise, snd whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation tp repay such amounts may be or hereafter may become otherwise unenforceable.
<br />Fl1TURE ADVANCES. In addi[ion to the Note, this beed of Trust secures all future advances made by Lender to Borrower or 7rustor
<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 ihe Note, all future amoun[s l.ender in its discretion may Ioan to Borrower or Trustor, together with all interest
<br />therean.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trus#) all of Trustor's right, title, and interest in and ta all
<br />present and future leases of the Property and alI Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Gode security interest in the Personal Property and Rents.
<br />THIS DEED QF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPER7Y, I5 GIVEN TO SECURE (A) PAYMENT pF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIpNS
<br />UNDER 7H� N4TE, THE RELATED DOCUMENTS, AND THIS DEED OF T'RUST. THIS DEED OF TRUST IS GIVEN AND ACCEPT�p ON THE
<br />FOLLOWING TERMS:
<br />TRUST�R'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request �nd
<br />not at the request of Lender; (b) Trustor has the full power, right, and authority to enter intp this Deed of Trust and to hypothecate thP
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a viofation of any law, regulaiion, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limi[a[ion the creditworthiness of Borrower►.
<br />YRUSTQR'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 from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br />entitled ta a claim for deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />PAYM�NT AND PERFORMANCE. �xcept as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br />Indebtedness secured by this peed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respeciive
<br />obligations under the Note, this Deed of Trusi, and the Related Documents.
<br />POSSESSIpN AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Eveni of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its velue.
<br />Compliance With Enviranmental Laws. Trustor represents and warrants to Lender that: (1) puring the period of Trustor's own2rship
<br />of the Property, there has been no use, generation, manufacture, storaga, treatment, disposal, release ar threater�ed release of any
<br />Hazardous Substance by any person on, under, about or frpm lhe Property; (2) Trustpr has np knowledge ot, or reason to believe
<br />that there has been, except as previously disclosed to end acknowledged 6y Lender in writing, (a) any 6reach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Proper[y, or (c) any actual or
<br />threatened litigatiqn 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 wriiing, (a) neither Trustor nor any tenant, contractor, agPnt or other authorized user of the Property
<br />
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