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<br />WHEN RECORDED MAIL TO: ��
<br />Five Points Bank L/�
<br />West Branch k�
<br />2009 N. Diers Ave.
<br />Grand Island NE 68803 FOR RECORDER'S USE ONLY
<br />FIVE I�INTS BANK
<br />CONSTRUCTION DEED OF TRUST
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 5300,000.00.
<br />THIS DEED OF TRUST is dated March 15, 2011, among JOHN S SCHULTE and DIANNE L SHULTE, whose
<br />address is 3422 S 110TH RD, WOOD RIVER, NE 68883-9643 ("Trustor"); Five Points Bank, whose address is
<br />West Branch, 2009 N. Diers Ave., Grand Island, NE 68803 (referred to betow sometimes as "Lender" and
<br />sometimes as "Beneficiary"1; and (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 />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; aii 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, oii, gas, geothermal and similar matters, (the "Real Pfoperty") IoCated i11 HALL
<br />County, State of Nebraska:
<br />Lot Six (6), Westwood Park Tenth Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 4149 FLEETWOOD RD, GRAND ISLAND, NE 68803.
<br />The Real Property tax identification number is 400440555.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all futurs advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate S300,000.00.
<br />Trustor presently assigns to Lender (afso 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 aIl 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 ANY AND ALL OBLIGATIONS
<br />UiVDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF 7RUST IS GIVEl4 AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all 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 />Uniform 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 />
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