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<br />WMEN RECORDED MAIL TO: : �,.�
<br />Platte Valley State Bank & Trust Campany �-
<br />PVSB Grand Island Branch
<br />810 Allen Dr
<br />Grand Island, NE 68803 FOR RECORDER'S USE ONLY
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEEb OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WI7HIN 1'H� MEANING OF 7HE NEBRASKA CONSTRUCTION I.I�N ACT
<br />THIS DEED OF TRUST is dated January 7, 2091, among King Builders, Inc; a Nebraska Gorporation
<br />("Trustor"1; Platte Valley State Bank & Trust Company, whosa addrass is PVSB Grand Island Branch, 810 Allen
<br />Dr, Grand Island, NE 688p3 (referred to belaw sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />Platte Valley State Bank & Trust Campany, whosa addrass is $90 Allen pr, Grand Island, N� 68803 (referred
<br />to below as "Trustea" �.
<br />CONVEYANCE AND GRANT. For valuable cpnsideration, Trustor cvnvays tv Trustaa in trust, WI7H pOWER 0� SA��, 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 buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stack in utilities with ditch or irrigation rightsl; and all other rights, royalties, and profits relating to the real
<br />property, including without limitation aIl minerals, ail, gas, geothermal and similar matters, (the "Real Property") IoCatBd irt Hall
<br />County, State of Nebraska:
<br />_„ Lat Fifta�n ( 9 5►, L�aisure Vallay Lake Subdivision, Hall County, Nebraska, according to the recorded plat
<br />thereof
<br />The Real Property or its address is commonly known as 209 Apricot Lana, boniphan, NE �$832, The Real
<br />Property tax identification number is 400234491.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whether or not
<br />tha advances sre made pursuant to a cpmmitment. Spacifically, without limitaiion, this Deed of Trust secures, in addition to the amounts
<br />specified in tha Note, all future amounts Lender in its discretian may loan to Barrower, together with all interest thereon.
<br />Trustor presantly assigns to Lender (also known as Bsneficiary in this Deed of Trust) all of Trus�or's right, title, and interest in and to all
<br />prasent and future leases at the Prvparty and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Cada security interest in tha Parsonal Prpperty and Rents.
<br />THIS DEED pF TRUST, INCLUDING THE A551GNMENT OF RENTS AND THE SECURITY INTEREST IN THE REN7S qND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIG/1710NS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND TMIS DE�D OF TRUST. TH15 DEED OF TRUST, INCLUDING THE ASSIGNMENT OF
<br />R�NTS AND TME S�CURITY INTEREST IN TH� R�NTS AND PER5pNAL PRaP�RTY, IS ALSQ GIV�N Tp 5ECUR� ANY AND ALL OF
<br />BpIiRqWER'S QBLIGA71pNS UNDER THAT CERTAIN GONSTRUCTION LOAN AGREEIVIEN7 BETWEEN BQRROWEIi ANp L�NDER QF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN ACwREEMENT, OR ANY OF THE RELA7�D I�QCUMEN7S
<br />REFERRED TO THEREIN, SHALL AI.Sp BE AN EVENT OF DEFAUI,T UNDER TH15 DEEp OF TRUST. TMIS DE�D OF TRUST IS GIVEN AND
<br />ACC�PTED ON THE FpLLQWING TERMS:
<br />THUSTQR'S R�PftESENTATIQIVS AND WARRANTIES. Trustor werrants that: (a) this Dead of Trust is exaauted at Borrower's r�quast and
<br />not at the request of Lender, (b) Trustor has the full power, right, and authority tq enter intp this Deed of Trust and ta hypothepate th�
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, qr result in a defeult under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor, (d) 7rustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information a6out Borrawar's tinancial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitatian the creditworthinass of Borrowsr�.
<br />TRUSTOR'S WAIV�R$. Trustor waives all rights or defenses arising by reason of any "one actian" or "anti-deficiency" law, or any other
<br />law which mey prevent Lender from bringing any actinn egeinst Trustar, including a claim for deficiency to the extent Lender is otherwise
<br />entitled tb 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. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Inde6tedness
<br />secured by this Deed pf Trust as it bacomes due, and Barrower and Trustor shall perform all their respective obligations under the Note,
<br />this Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Peed of Trust is a"construction mortgage" for the purposes of Sections 9-33A and 2A-309 of the
<br />Uniform Commercial Code, as those sectians have baan adopted by the State of Nebraska.
<br />P05SESSION ANP MAINTENANCE OF 7HE PROPERTY. Borrower and Trustor agree ihat Borrower's and Trustor's possession end use of
<br />the Property shall be gaverned by the following provisians:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Proparty;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Trustar shall maintain the Proparty in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Cpmpliance With �nvironmental Laws. Trustor reprasents and warrants to Lender that: (1 � buring the period ot Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release qf any
<br />Hazardous Substance by any parson on, under, about or from the Property; (2) Trustor has no knowledge of, or reasnn tn k�elieve
<br />that there has been, axcept as previously disclosad to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Lews, (6) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Haxardous Substance on, under, abou[ or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation qr claims of any kind by any perspn relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor eny tenant, contractor, agent or other authorized user of the Prqperty
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardnus Substance on, under, about or from the Property;
<br />
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