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<br /> WHEN RECORDED MAfL TO:
<br /> � Equitable Bank
<br /> Diers Avenue Branch �
<br /> PO Bax 160
<br /> Graod Island,NE 68802-0160 FOR RECORDER'S USE ONLY
<br /> DEED OF TRUST
<br /> MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time�329,000.00.
<br /> THIS DEED OF TRUST is dated November 18, 2011,among JEFFREY B O'CALLAGHAN,whose
<br /> address is 4081 MANCFIESTER RD, GRAND ISLAND, NE 68803 and SHERfiI L
<br /> O'CALLAGHAN, whose address is 4081 MANCHESTER RD, GRAND ISLAND, NE 68803;
<br /> HUSBAND AiVD WI�E ("Trustor"); Equitable Bank, whose address is Diers Avenue Branch, PO
<br /> Box 160, Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and
<br /> sometimes as "Beneficiary"); and Equitable Bank (Grand Island Region?, whose address is
<br /> 113-115 N Locust St; PO Box 160, Grand Island, NE 68802-0160 (referred to below as
<br /> "Trustee").
<br /> CONVEYAIUCE AND GRANT. For valuable sonsideration,Trustor conveys to Trustee in vust,WITH POWER OF SALE,
<br /> for the benefit of Lender as Beneficiary,all of Trustor's rignt,title,and interest in and to the following described real
<br /> property, together with all existing or subsequently erecYed or affixed buildings, improvements and fixtures; all
<br /> easeme�ts, righfs of way,and appurtenances; all water,water righfs and ditch rights �including stock in utilities with
<br /> ditch or irrigation rights); and all oYher rights, royaliies, and profits relatiog to the real property, including without
<br /> limitation all. minerals, oil, gas, geothermal and similar matters, (the °Real Propei'ty") located in HALL
<br /> Caunty,State of Nebraska:
<br /> LOT FIFTY FOUR(541,AMJCK ACRES EAST SUBDIVISION, HALL COUNTY, NEBRASKA
<br /> /AND
<br /> LOT FORTY (40), JEFFREY OAKS SIXTH SUBDIVISION, IN THE CITY OF GRAND ISLAND,
<br /> HALL GOUNTY, NEBRASKA
<br /> The.Real Property or its address is commonly known as 54 SONJA DR, DONIPHAN, NE 68832
<br /> & 4081 MANCHESTER RD, GRAND ISLAND, NE 68803. The Real Property tax identification
<br /> number is 400349248,400383276.
<br /> Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trustl all of Trustor's right,title, and
<br /> interest in and to all present and future leases of the Properry and all�Rents from the Property. In addition,Trustor
<br /> . grants to Lender a Uniform Commercial Code security inYeresL in the Personal Property and Rents.
<br /> THIS DEED OF TRUST,WCLU�DWG THE ASSIGNMENT OF RENTS AND THE SEGURITY INTEREST W THE RENTS AND
<br /> PERSONAL PfiOPERTY,IS GIVEN TO SECURE (A1 PAYMENT OF THE IN➢EBTEDNESS AND �B) PERFORMANCE OF
<br /> ANY 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 AND WARRANTIES. Trustor warrants that (a) this Deed of Trust is executed at
<br /> Borrower's request and not at the request of Lender, (b�Trustor has the fiill 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 conflict with,or
<br /> result in a default under any agreement or other instrument binding upon Trustor and de not result in a violation of any
<br /> . law, regulation; court decree or order applicable to Trustor, (d)Trustor has established 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 T�ustor about Borrower(including without limitation the creditworthiness of Borrower�.
<br /> TRUSTOR'S WAIVERS. TYustor waives all rights or defenses arising by reason of any"one action"or"anti-deficiency"
<br /> law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for
<br /> deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after LendePs commencement
<br /> or completion of any foreclosure action,either judicially or by exercise of a power of sale.
<br /> PAYMENT AND PERFORMANCE. Except as otherwise provided in this�eed of Trust, Borrower shall pay to Lender all
<br /> Indebtedness secured� tiy this�Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their
<br /> respective obligations under the Note,ihis 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 (7) remain in possession and
<br /> control of the Property; (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 condition and promptly perform all repairs,
<br /> replacements,and maintenance necessary to preserve its value,
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