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<br />WHEN RECORDED MAIL TO:
<br />� Exchpnge Bank
<br />� P.O. Box 760
<br />� #14 la8arre
<br />_ Gibbon, NE 68840 FOR RECORDER'S USE ONLY
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is dated September 12, 2Q11, among Merldian Properties, LLC, A
<br />Nebraska Limited Liability Company, whose address is 152 PONDEROSA COURT, GRAND
<br />ISLAND, NE 6$803 ("Trustor"); Exchange Bank, whose address is P.O. Box 760, #74 LaBarre,
<br />Gibbon, NE 68840 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"1;
<br />and Exchange Bat�k, whose address is P.O. Box 5793, Grand Island, NE 68802 (referred to
<br />below as "Trustee"1.
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to 7rustee in trust, WITH POWER OF SALE,
<br />for the benefit of Lender as Beneficiary, all of Trustor's right, title, and interest in and to the tollowing described real
<br />properry, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all
<br />easements, rights of way, and appurkenances; all water, water rights and ditch rights lincluding stock in utilities with
<br />ditch or irrigation rights►; and all other rights, royalties, and profits relating to the real property, including without
<br />limitation ell minerals, oil, gas, geothermal and similar matters, (the "Real Property IOCated 'Itl Hall COUltty,
<br />State of Nebraska:
<br />Lot Two (2), Richmond Second Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />The Real Property or its address is commonly known as 603 N. Diers Ave., Grand Island, NE
<br />68803.
<br />CROSS-COLLATERAtIZAT10N. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities,
<br />plus interest thereon, of either Trustor or Borrower to Lender, or any one or more of them, as well as all claims by
<br />Lender against Borrower and Trustor or any one or more of them, whether now existing or hereafter arising, whether
<br />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 ar unliquidated, whether Borrower or Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or
<br />otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of
<br />limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<br />REVOLVING LINE OF CREDIT. This Deed of Trust secures the Indebtedness including, without limitation, a revolving
<br />line of credit, which obligates Lender to make advances to Borrower so long as Borrower complies with all the terms of
<br />the Note.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor`s right, title, and
<br />interesi in and to all present and future leases of the Property and all Rents trom the Property. In addition, Trustor
<br />grants to Lender a Uniform Commercial 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
<br />PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B� PERFORMANCE OF
<br />AIVY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AIVD WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at
<br />Borrower's request end not et the request of Lender; (b) Trustor F�as the full power, right, and authority to enter into
<br />this Deed of Trust and to hypothecate the Property; (c) the provisions of this Deed of Trust do not confliGt with, o�
<br />resuit in a default under any agreement or other instrument binding upon Trustor and do not result in a violation of any
<br />law, regulation, court decree or order applicabie to Trustor; (d) Trustor has estabtished adequate means of obtaining
<br />from Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no
<br />representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives al) rights or defenses arising by reason of any "one action" or "anti-deficiency"
<br />law, or any other law which may prevent [.ender from bringing any action aga+nst Trusior, including a claim tor
<br />deticiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after Lender's commencement
<br />or completion of any foreclosure action, either judieially or by exercise of a power of sale,
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor sha(( pay to
<br />Lender afl Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly
<br />perform all their respective 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
<br />possession and use of 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
<br />control of the Property; (2) use, operate or manage the Property; and (3? collect the Rents from the Property.
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