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<br />4PfFi�9�8 F3IECORDEC3 OIHHA9L i'O:
<br />Exchange Bank
<br />P.O. Box 760
<br />#14 L.�Barre
<br />G(bbon, NE 68840 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated July 13, 2011, among JAY W LEE and MARCIA L LEE,
<br />HUSBAND and WIFE, whose address is 1216 S LINCOLN AVE, GRAND ISLAND, NE 68801
<br />("Trustor"); Exchange Bank, whose address is P.O. Box 760, #14 LaBarre, Gibbon, NE 68840
<br />(refe�red to below sometimes as "Lender" and sometimes as "Beneficiary"); and Exchange
<br />Bank, whose address is P.O. Box 760, Gibbon, NE 68840 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable conslderation, Trustor conveys to Trustee in trust, VYITH PQWER OF SALE,
<br />for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real
<br />property, together with all existing or subs�uerrtly erected or affixed buildings, improvements and fixtures; all easements,
<br />rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigatlon
<br />rights); and all other rights, royalties, and profits relating to the real pro erty, includin without limitation all minerals, oil, gas,
<br />geothermal and similar matters, (the "Real Property") located in HALL County, State of Nebraska:
<br />Lot One (1) and the Northerly Fourteen (14) feet of Lot Two (2), Buhrman's Subdivision to
<br />the City of Grand lsland, Hall County, Nebraska.
<br />The Real Property or its address is commonly known as 1416 N HANCOCK AVE, GRAND
<br />iSLAN�, iilE ti88�3. i in� �e�i Proper[y tax ieienfiric�tion nurnber is 4�0002�46.
<br />CROSS-COLLATERALIZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus
<br />interest thereon, of Trustor to Lender, or any one or more of them, as well as all claims by Lender against Trustor or any one
<br />or more of them, whether now existing or hereafter arising, whether related or unrelated to the pur�se of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent,
<br />liquidated or unliquidated, whether Trustor may be liable individually or joinUy with others, whether obligated as guarantor,
<br />surety, accomm�ation party or otherwise, and whether recovery upon such amounts may be or hereafter may become
<br />barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become
<br />othervvise unenforceable.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor
<br />whether or not the advances are made pursuant to a comm'itrnent. Spec'rfically, without limitation, this Deed of Trust secures,
<br />in addition to the amounts specffied in the Note, all future amounts Lender in its discretion may loan to Trustor, together with
<br />all interest thereon.
<br />Trustor presenUy assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, tiUe, and interest in
<br />and to all present and future leasas of the Propsrty and all Rer�ts ftom the Property. In addition, Trustor grants to Lender a
<br />Un'rform Commercial Code security interest in the Personal Property and Renis.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS
<br />AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B)
<br />PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED
<br />OF TRUST. TH�S DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as othervvise provided in this Deed of Trust, Trustor shall pay to Lender all
<br />amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner pertorm all of Trustor's
<br />obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that TrustoCs possession and use of the Properry
<br />shaii b� govem.ed by ihe foliow�na �rovis�ons:
<br />Possessfon and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and conVol of
<br />ihe Property; (2) use, operate or manage the Property; and (3) collect the Rerrts from the Property.
<br />Duty to Malntaln. Trustor shall maintain the Pro�ssrty in tenantable condition and prompUy perform all repairs,
<br />replacements, and maintenance necessary to preserve its value.
<br />Compliance Wlth Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of
<br />Trustor's ownership of the Property, there has been no use, generation, manufacture, storage, treatrnent, disposal,
<br />release or threatened release of any Hazardous Substance by any person on, under, about or from the Properry; (2)
<br />Trustor has no knowledge of, or reason to belleve that there has been, except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use, generation,
<br />manufacture, storage, treatrnent, disposal, release or threatened release of any Hazardous Substance on, under, about
<br />or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or
<br />claims of any kind by any person reiating to such matters; and (3) Except as previously disclosed to and acknowledged
<br />by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property shall
<br />use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, abaut or from the
<br />Property; and (b) any such activity shall qe conducted in compliance with all applicable federal, state, and local laws,
<br />regulations and ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and fts agents
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