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<br />WHEN RECORDED M�L TO:
<br />Platte Valley State Bank � Trust Company
<br />PVSB Grand Islaq�Branch
<br />810 All�n Dr F� �� ,�',� �
<br />Grand Island. NE 68 03 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated June 3, 2011, among Alan R. Usher, whose address is 1310 S Gunbarrel Road,
<br />Grand Island, NE 68801 and Joanna L. Usher, whose address is 1310 S Gunbarrel Road, Grand Island, NE
<br />68801; as Husband and Wife ("Trustor"); Platte Valley State Bank � Trust Company, whose address is PVSB
<br />Grand Island Branch, 810 Allen Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and
<br />sometimes as "Beneflciary"); and Platte Valley State Bank � Trust Company, whose address Is 2223 2nd Ave,
<br />Kearney, NE 68848 (refened to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the beneflt of
<br />Lender as Beneflclary, all of Trustors 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 rlghts (including stock in utilities with ditch or irrigation rights); and aII other ri hts, ro alties, and profits relating to the real
<br />property, including without Iimitation all minerals, oil, gas, geothermal and similar matters, (th@ �� F�eal Property located in Hall
<br />County, State of Nebraska:
<br />Lot Two (2), Paradise Lake Estates Fifth Subdivision, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 1310 S Gunbarrel Road, Grand Island, NE 68801.
<br />The Real Property tax identification number is 400207222.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specificaliy, 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.
<br />Trustor presenUy 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 Uniform Commercial
<br />Code securiry 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 />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 othervvise 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 />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />govemed 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 good condition and promptly perform all repairs, repiacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental 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 from the Property; (2) Trustor has no knowledge 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
<br />shall use, generate, manufacture, store, treat, dlspose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without Umitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determfne compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in invesUgating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender against any and all
<br />claims, losses, IiabiUties, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Ttust and shall not be
<br />affected by Lender's acquisition of any interest in the Property, whether by foreclosure or othervvise.
<br />Nuisance, Waste. Trustor shali not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Trustor shall not demolish or remove any Improvements from the Real Property without Lender's prior
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