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<br />WMEN RECORDED MAII TO:
<br />Equitable Bank
<br />Diers Avenue Branch .
<br />PO Box 160
<br />Grand Island, NE 68802-0160 � FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed a# any one time $29,333.57.
<br />THIS DEED OF TRUST is dated March 4, 2011, arnong JEFFREY N GANNQN, whose address is 2909
<br />HANCOCK PL, GRAND ISLAND, NE 688U3 and TRACY M GANNON, whose a�idress is 2909 HANCOCK PL,
<br />GRAND ISLAND, NE 68$03; HUSBAND AND WIFE ("Trustor"►; Equitable Banl<, whose address is Diers
<br />Avenue Branch, PO Box 160, Grand Island, NF 68802-01 Ca0 (referred to belaw sc�rnetimes as "Lender" and
<br />sometimes as "Seneficiary"); and Equitab{e Bae�k (Grar�d tsla�nd Region), wti�ose �ddress is 113-115 N Locust
<br />St; PO �ox 160, Grand Island, NE 688Q2-0160 (referred to below as "Trustee").
<br />CQNVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the beneiit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and t� the following described real property, together with ell existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />righfs and ditch rights (includinq stock in utilities with ditch or irrigation rightsl; �nd all other rights, royalties, and profits relatiny to the real
<br />property, including without limitation all minerals, oil, gas, yeothermal and sirnilar matters, (the " Reai Praperty located irl HALL
<br />County, State of Nebraska:
<br />LOT FOUR (4), BLOCK THREE (3), COL.QIVI/�L �STA�TES SUBDNISIQN TO THE CITY QF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA
<br />The Real Property or its address is cornrnonly known as 29Q9 HANCOGK PL, GRAND ISLAND, NE 68803.
<br />The Reat Property tax identification number is 400035898.
<br />Trustor presently assigns te Lender (also known as Beneiiciary in this Deed of Trust) aR of Trustor's right, tit{e, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor yrants to Lender a Uniform Cornmercial
<br />Code securiry interest in the Personal Property and Rents.
<br />7HIS DEED OF TRUST, INCLUDING TIiE ASSIGNMENT OF RENTS AND THE SECURITY IN'TEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, fS GIVEN TO SECURE (A) PAYMENI' OF THE IMDEBTEDNESS AND (B) PEIiFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED t)OCUMENTS, AND T��IS DEED OF TRUST. TN1S DE.ED OF TRUST 15 GlVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as oYherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Ueed of Trust as they become due, and shall strictly and in a timely manner perfonn all of frustor's obligations under the Note, this
<br />Deed of Trust, a�d the Related Uocurnents.
<br />POSSESSION R�ND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following 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) use, operate or manaye the Property; and (3) collect the fients from the Property.
<br />Duty to Maintain. Trustor shall rnaintain the Property in good condition and promptly �ierfnrm all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Enviranmental 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 irom ttie F'roperty; (2) Trusror has no Icnowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledyed by Leiider in writing, (a1 any breach or violation of any
<br />Fnvironmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or Lhre�tened release of any
<br />Haz_ardous Substance on, under, about or from the Property by any prior owners or occupants of 1he Property, or (c) any actual or
<br />threatened litiyation or claims of any kind by any person relating to such matters; and (3) [xcept as previously disclosed to and
<br />acknowledged by Lender in wrilin,y, (a) neither Trustor nor any tenant, contractor, a,y�nf or olher authorized user of the Property
<br />shall use, generate, manuFacture, store, treaf, dispose of or release any Hazardous Substanr.e on, under, about or irom the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable tederal, state, and local laws, regulations and
<br />ordinances, including without lirnitation all Environmental Laws. Trustor authorizes Lender and its ayents to enter upon the Property
<br />to mal<e such inspections and tests, at Trustor's expense, as Lender may cieem appropriale to deterrnine cornplianr.e of the Property
<br />with this section of the Deed of Trust. Any inspections or tests rnade hy lender shall be for Lender's purpvses only and shall not be
<br />construed to create any responsibiliry or liability on the part of Lender to Trustor or to any vther person. The representations and
<br />warrant+es contained herein are based on Trustor's due diligence in investigatir}g the Property for Hazardous Substances. Trustor
<br />hereby (11 releases and waives any future claims ayainst I_ender for indemnity or contribution in the event l"rustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indernnify, defend, and hold hannless Lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses whic;h l.ender may directly or indirectly sustain or suffer resulting from 2
<br />breach of this sect�ion of Che Deed o�f Trust or as a consequence of any use, generation, marwfacture, storage, disposal, release or
<br />threatened release crecurring prior to Trustor's ownership or inierest in the Froperty, whether or not Che same was or should h�ve
<br />been known to Trustor. The provisions of this section of tlie Deed of 7rust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebteclness and the satisfaction �nd reconveyance of the lie� of ttiis Deed of Trust and shall not be
<br />af(ected by I_ender's acquisition of any interest in the Property, wliether by ioreclosure or otherwise.
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisanr.e nor commit, permit, or suffer tiiiy stripping of or waste on
<br />or to the Property or any portion of lhe Property. Without liiriitin,y the generality of the foregoiny, Trustor will not remove, or grant to
<br />any other party ihe right to remove, any timber, minerals (includin,y oil and gas1, coal, r,lay, sr,oria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of 6nprovements. Trustor shall not demolish or rernove any ImFxovements from the Real Property without Lender's prior
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