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<br />WHEN RECORDED MAIL TO: � �
<br />Five Points Bank � � �
<br />West Branch �
<br />2009 N. Diers Ave.
<br />Grand Island NE 68803 FOR RECORDER'S USE ONLY
<br />FI VE P01NTS �4NK
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA GONSTRUCTION LIEN ACT
<br />THIS DEED OF TRUST is dated March 14, 2011, among DENNIS W BRUNS and ANN E BRUNS; Husband and
<br />Wife l"Trustor"); Five Points Bank, whose address is West Branch, 2009 N. Diers Ave., Grand Island, NE
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"i; and Five Points Bank,
<br />whose address is P.O Box 1507, Grand Island, NE 68802-1507 (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 all existing or
<br />subsequentiy erected or affixed buildings, improvements and tixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rightsl; and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oit, gas, geothermal and similar matters, (th@ �� Real Property ') located in HALL
<br />County, State of Nebraska:
<br />Lot One ( 9), American Independence Second Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />The Real Property or its address is commonly known as 1609 LARIAT LANE, GRAND ISLAND, NE 68803.
<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 tlniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AMD THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (BI PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shali pay to lender aN amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />CONSTRUCTION MORTGAGE. This Deed of Trust is a"construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />Unitorm Commercial Code, as those sections have been adopted by the State of Nebraska.
<br />POSSESSION AND 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 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 value,
<br />Compliance With Environmental Laws. Trustor represents and warrants to Le�der 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) Trustor has no knowledge of, or reason to believe
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