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<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch
<br />810 Allen Dr �� !�{�..'t. '�1�1
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<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated June 17, 2011, among Norman D. Saale, whose address is 1314 S Harrison
<br />St., Grand Island, NE 68803 and Phyllis B. Saale, whose address is 1314 S Harrison St., Grand Island, NE
<br />68803; as Husband and Wife ("Trustor"); Platte Valley State Bank $ Trust Company, whose address is PVSB
<br />Grand Isiand Branch, 810 Allen Dr� Grand Island, IdE 68803 (referred to below sometlmes as "Lender" and
<br />sometimes as "�eneflciary"); and �latte Valley �tat� Bank & 7rust, Co. Inc., wrhose address is PO Box 430,
<br />Kearney, NE 68848-0430 (referred to below as "Trustee"j.
<br />CONYEYANCE AND GRANT, For valuable cons(deratfon, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the beneflt of
<br />Lender as Beneficlary, all of Trustor's right, title, and interest in and to the following describsd 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 rights (including stock in utilities with ditch or irrigaUon rights); and ail other rights, �o alties, and prof�s relating to the real
<br />property, includfng without limitation all minerals, oil, gas, geothermal and similar matters, (#he Real Property ) located In Hail
<br />County, State of Nebraska:
<br />Lot One (1), Brach's Fifth Subdivision, to the Clty of Grand lsland, HaU Caunty, Nebraska.
<br />The Real Property or its address is commonly known as 1314 S Harrlson St., Grand Island, NE 68803. The
<br />Real Property tax identification number is �4.00024128.
<br />REVOLVING LINE OF CREDI7. This Deed of Trust secures the Indabtedness including, without Iimitation, a revolvfng Iine of credlt, which
<br />obligates Lender to make advances to Trustor so long as Trustor compUes with all the terms of the Credit Agreement. Such advances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at any one time, not
<br />including financa charges on such balance at a flxed or variable rate or sum as provided in the Credtt Agreement, any temporary overages,
<br />other charges, and any amounts expend�d or advanced as provided (n etther the Indebt�dness paragraph or this paragraph, shall not
<br />exceed the Credit Limit as provided in the Credit Agreemen� It is the intention of Trustor and Lender that this Deed of Trust secures th�
<br />balance outstanding under the Credit Agreement from tlme to tlme from zero up to the Credit Limit as prov(ded tn the Credit Agreement
<br />and any intermed(ate balance.
<br />Trustor presently assigns to Lende� (also known as Beneficiary in this Deed of Trust) all of Trustor's �ight, title, and interest in and to aii
<br />present and future leases of the Property and aii Rents from the Property. In addition, Trustor grants to Lender a Unfform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDIMG THE ASSIGNMENT OF RENTS AND THE SECURITY INTERES7 IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMEN7 OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as othenr�ise 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 perFnrm all of Trustor's obligations under the Credit
<br />Agreament, this 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 shail be
<br />govemed by the foliowing provisions:
<br />Possession �ntt 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 shali maintain the Property in good condition and promptly perForm ali repairs, replacements, and
<br />matntenance necessary to preserve its value.
<br />Compltance Wtth 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) Trustnr 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 vlolatlon of any
<br />Environmental Laws, (b) any use, generation, manufactura, storage, treatment, disposai, release or threatened release of any
<br />Hazardous Substance on, under, about or fram the Property by any prior owners or occupants of the Property, or (c) any actua4 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, dispose of or release any Nazardous Substance on, under, about or from the Property;
<br />and (b) any such activiry shall be canductad in compliance with ali applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and (ts agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this secUon 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 liab(lity 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 investigating 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, 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, disposai, 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 obligaiion to indemnify and defend, shaA
<br />survive the payment of the Indebtadness and the satisfaction and reconveyance of the lien of thls Deed of Tcust and shali not be
<br />affected by Lender's acquisltion of any interest in the Property, whether by foreclosure or otheiw(se.
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