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<br />WHEN RECORDED MAIL TO:
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<br />THIS DEED OF TRUST is dated June 27, 2011, among Wayne R. Garrett, Trustee of The Wayne Garrett
<br />Revocable Trust under the provisions of a trust agreement, Kimberly D. Garrett, Trustee of Kimberly Garrett
<br />Revocable Trust under the provisions of a trust agreement, Wayne R. Garrett, Indivldually and Kimberly D.
<br />Garrett, Individually, whose address is 4156 Texas Ave., Grand Island, NE 68803 ("Trustor"); Platte Valley
<br />State Bank � Trust Company, whose address is PVSB Grand Island Branch, 810 Allen Dr, Grand Island, NE
<br />68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Platte Valley State
<br />Bank � Trust Company, whose address is 2223 2nd Ave, Kearney, NE 68848 (referred to below as
<br />"Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideraUon, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneflclary, 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 fuctures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, �o alties, and prof�s relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters (the Real Property ) located in Hall
<br />County, State of Nebraska:
<br />Lot One (1), Block One (1), Woodland Park Fourth Subdivislon, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Properly or its address is commonly known as 4156 Texas Ave., Grand Island, NE 68803. The Real
<br />Property tax identification number is 40Q24897t�.
<br />FUTURE ADVANCES. In additlon to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whether or not
<br />the 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 Borrower, 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
<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 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 />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 />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender, (b) Trustor has the full power, right, and authoriry to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about BorrowePs financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of BoROwer).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one aetion" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
<br />entiUed to a claim for deficiency, before or after Lender's commencement or completion of any foreclosure actlon, either judicially or by
<br />exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Faccept as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all thefr respective obligations under the Note,
<br />this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrowers and Trustor's possession and use of
<br />the Property shatl be govemed by the following provisions:
<br />Possesslon and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possessfon and control of the Properry;
<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 conditfon and prompUy pertorm all repairs, replacements, 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 beUeve
<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 IiUgation or claims of any kind by any person relating to such matters; and (3) Except as prevfously dfsclosed 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 Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicabte federal, state, and local laws, regulations and
<br />ordinances, including without limitation 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 determine compliance of the Properiy
<br />with this section of the Deed of Trust. Any inspeckions or tests made by Lender shall be for Lenders 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
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