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<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
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<br />RECORDED MAIL TO:
<br />iitable Bank
<br />Box 7 60
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<br />DEED OF TRUST is dated May 24, 2011, among DUANE SIDDERS, whose address is 13320 S
<br />iASKA HWY 11, WOOD RIVER, NE 68883 and CAROL A SIDDERS, whose address is 13320 S
<br />tASKA HWY 11, WOOD RIVER, NE 68883; HUSBAIVD AND WIFE ("Trustor"); Equitable Bank, whose
<br />ass is Diers Avenue Branch, PO Box 1 S0, Grand Island, NE 68802-0160 (re#erred to below sometimes as
<br />der" and sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region), whose address is
<br />115 N Locust St; PO Box 160, Grand Island, NE 68802-0160 (referred to below as "Trustee°}.
<br />EYANCE AND GRANT, For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefrt of
<br />r as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />auently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />and ditch rights (including stock in uTilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />ty, including without limitation all minerals, oil, gas, geothermal and similar matters, (the " Real Property") located in HALL
<br />iy, State of Nebraska:
<br />See EXHIBIT "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully
<br />set forth herein.
<br />Real Property or its address is commonly known as 13320 S NEBRASKA HWY 11, WOOD RIVER, NE
<br />83. The Real Property tax identification number is 400230011.
<br />i RE ADYANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whethar or not
<br />dvances are made pursuant to a commitment. Specifically, without fimitation, this Deed of Trust secures, in addition to the amounts
<br />ified in the Note, all future amounts Lender in its discretion may loan to Borrower, together witfi all interest thereon.
<br />tor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) afl of Trustor's right, title, and interest in and to all
<br />en# and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Unfform Commercial
<br />e security interest in the Personal Property and Rents.
<br />DEED OF TRUST, INCLUDING 7HE ASSIGNMENT OF RENTS AND THE SECURITY INTERES7 IN THE RENTS AND PERSONAL �
<br />PERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />ER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF �`
<br />TS AND THE SECURITY INT�REST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF �'
<br />I ROWER'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEIV BORROWER AND LENDER OF EVEN
<br />E HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTIUN LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS �
<br />ERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNbER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN QND =-
<br />EP7ED ON THE FOLLOWING TERMS:
<br />= T STOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />n at the request of Lendar; (b) Trustor has the tull power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />P perty; (c) the provisions of this Deed of Trust do not conflict with, or resulY in a default under any agreement or other instrument
<br />b ding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />e ablished adequate means of obtaining trom Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br /> -- L der has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />USTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />_— 1 which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br />e itled to a claim for deficiency, betore or after Lender's commencement or completion of any foreclosure action, either judicially or by
<br />� rcise of a power of sale.
<br />YMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />:ured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />� Deed of Trust, and the Related Documents.
<br />NSTRUCTION MORTGAGE. This Deed of Trust is a"construction mortgage" for the purposes of Sections 9-334 and 2A-309 of the
<br />iform Commerciaf Code, as those sections have been adopted by the State of IVebraska.
<br />SSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />Property shall be governed by the foffowing provisions:
<br />Possession and Use. Unti( the occurrence of an Event ot Default, Trustor may (1) remain in possession and control of the Property;
<br />l2) use, operate or manage the Property; and (3� collect the Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform aff repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compiiance Wrth Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, tF�ere 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 know(edge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach 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 Property, or (c) any actual or
<br />threatened litigation 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 writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
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