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<br />WHEN RECORDED MAIL TO:
<br />Exchange,Bank
<br />P.O� 760 I 2 0� � u-E N�(z •
<br />#14 Barre G'rAn� 0 =sL�q�tp n([_,
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated February 26, 2010, among The Jocar Living Trust, whose address is 623 S
<br />Locust St, Grand Island, NE 68801 l"Trustor"); Exchange Bank, whose address is P.O. Box 760; #'�4 LaBarre,
<br />Gibbon, NE 68840 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and Exchange
<br />Bank-Grand Isiand Branch, whose address is P.O. Box 5793, Grand Island, NE 68802 (referred to below as
<br />"Trustee"�.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor canveys to Trustes in trust, WITH POWER OF SALE, for the benefit of __
<br />Lender as Beneficiary, all of Trustor's right, title, and interest ifi and to the following described real properry, together with ail 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 irrigation rightsl; and all other rights, royalties, and profits 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 />See Exhibit A, which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set
<br />forth herein. � .
<br />CROSS-COLLATERALIZATION. in additiorn to the Note, this Deed of Trust secures all obligations., debts and liabilities, plus interest
<br />thereon, of either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by Lender against Borrower and Trustor
<br />or any one or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether
<br />voluntary or otherwise, whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or
<br />unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated. as guarantor, surety,
<br />accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by eny statute of
<br />limitations, and whether the obligation to repay such amounts may be or hereafter may becoma otherwise unenfarceable.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower or Trustor
<br />whether or not the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust securas, in addition
<br />to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Borrower or Trustor, together with all interest
<br />theraon.
<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 Pr and Rents.
<br />THIS DEED OF TRUST, INCLUDING 1�HE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AN.D (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 authority to enter into this Deed of Trust And to hypothecate the
<br />Property; 1c) 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 Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor ebout Borrower (including without limitation the creditworthiness of Borrowerl.
<br />TRUSTOR'S WAIVERS. Trustor waives ali rights or defenses arising by reason of any "one action° 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 />entitled to a claim for deficiency, before or. after Lender's commencement or completion of any foreclosure action, eithe� judicially or by
<br />exercise of a power of sale. .
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to Lender all
<br />Indabtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective
<br />obligations under the Note, this Deed of Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower°s and Trustor's possession and use of
<br />the Property shall be governed 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 fhe Property;
<br />(2) use, operate or manage tha Property; and (31 collect the Rents from the Property. '
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintsnance 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 Substanca 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 cleims of any kind by any person,.relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, Ia) �leither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispo.sa of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in cbmpliance with all applicable federal, state.; and local laws, regulations and
<br />ordinances„ including witho.ut limitation all Environmental Laws. Trustor authorizes Lender and 'its agents to enter upon the Property
<br />
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