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<br />WHEN RECORDED MAIL TO:
<br />Exchange Bank
<br />�' P.O. Box 760
<br />� #14 LaBarre
<br />� Gibbon NE 68840 FOR RECORDER'S USE ONLY
<br />_ a���
<br />�
<br />� � DEED OF TRUST
<br />� THIS DEED OF TRUST is dated June 15, 2011, among ELIZABETH E. DAVIS, A Single Person, whose
<br />� address is 716 W 2ND ST, GRAND ISLAND, NE 68801 ("Trustor"); Exchange Bank, whose address is P.O.
<br />� Box 760, #14 LaBarre, Gibbon, NE 68840 (referred to below sometimes as "Lender" and sometimes as
<br />�°r "Beneficiary"); and Exchange Bank, whose address is P.O. Box 760, Gibbon, NE 68840 (referred to below
<br />� 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; all water, water rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real p roperty, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL County, State of
<br />Nebraska:
<br />LOT SEVEN (7), IN FRACTIONAL BLOCK FOUR (4) OF GILBERT'S SECOND ADDITION TO GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />The Real Property or its address is commonly known as 916 WEST 15TH STREET, GRAND ISLAND, NE
<br />68803. The Real Property tax identification number is 400134462.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one or more of them, whether now existing
<br />or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with
<br />others, whether obligated as guarantor, surety, accommodation party or othervvise, and whether recovery upon such amounts may be or hereafter
<br />may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<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. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts specified in
<br />the Note, all future amounts Lender in its discretion may loan to Trustor, together with all interest thereon.
<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 present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />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 Deed of Trust,
<br />and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be govemed
<br />by the following provisions:
<br />Possesslon and Use. Until the occurrence of an Event of Default, Trustor may (1J
<br />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
<br />maintenance necessary to preserve its value.
<br />remain in possession and control of the Property; (2)
<br />and promptly perform all repairs, replacements, and
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
<br />the Property, there has been no use, generation, manufacture, storage, treatment, disposai, release or threatened release of any Hazardous
<br />Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe that there has been,
<br />except as previously disclosed to and aGknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any
<br />use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or
<br />from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any
<br />person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Trustor nor
<br />any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or reiease any
<br />Hazardous Substance on, under, about or from the Property; and (b) any such activity shail be conducted in compliance with all applicable
<br />federal, state, and local laws, regulations and ordinances, including without limitation ali Environmental Laws. Trustor authorizes Lender and
<br />its agents to enter upon the Property to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to
<br />determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's
<br />purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The
<br />representations and warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous
<br />Substances. Trustor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Trustor
<br />becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify defend, and hold harmless Lender against any
<br />and all claims, losses, liabilities, 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 threatened
<br />release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have been known to Trustor.
<br />The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any
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