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<br />Return to:
<br />CUNNINGI IAM LAW OFFICE
<br />P.O. BOX 2280
<br />GRAND ISLAND, NE 68802
<br />Deed of Trust
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<br />DEED OF TRUST
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<br />THIS TRUST DEED made this ��day of June, 2012, between Southeast Crossings,
<br />LLC, A Nebr•aska Limited Liability Company, as TRUSTOR, whose address is P.O. Box 139,
<br />Grand Island, Nebraska 68802; Damon Bahensky, A Member of the� Nebraska State Bar
<br />Association, as TRUSTEE, whose address is 1516 1 St Ave., P.O. Box 1600, Kearney, Nebraska
<br />68848-1600; and Archway Village, LLC, A Delaware Limited Liability Company, hereinafter
<br />referred to as BENEFICIARY or BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following-described real properiy:
<br />Lot Severi (7), and the North 135 feet of Lot Eight ($), Menards Second
<br />Subdivision to the City of Grand Island, Hall County, Nebraska, (commonly
<br />known as 2435 and 2443 Diers Avenue);
<br />together with all buildings, improvements and appurtenances thereon, and subject to any easements,
<br />any rights of way, and restrictions and reservations of record which may affect title to the property.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY that
<br />TRUSTOR is lawfully seized and the owner of the above-described property; that it has good right
<br />and lawful right an authority to sell and convey said premises and that said premises are conveyed
<br />subject only to a first mortgage lien, and further that the TRUSTOR will warrant and defend the
<br />title to said premises forever against the claims of a11 persons whomsoever.
<br />For the purpose of securing performance of each covenant of this agreement, together with
<br />the covenants and agreements in a Contract for Sa1e of Real Estate dated the 15th day of June,
<br />2012, between BENEFICIARY and R.B.O., LLC, A Nebraska Limited Liability Company, as
<br />SELLER, the .TRLJSTOR gives this Second Deed of Trust to BENEFICIARY. This Deed of Trust
<br />is given to secure the obligation of R.B.O., LLC, to give credit to BENEFICIARY for an earnest
<br />money deposit af Five Hundred Thousand Dollars ($500,000.00), on; a closing to be held between
<br />September 1, 2013 and October 1, 2013. As said closing, the BENEFICIARY hereunder shall
<br />receive credit for the Five Hundred T'housand Dollar ($500,000.00) earnest money deposit at which
<br />time BENEFICIARY will direct the TRUSTEE to reconvey the real estate above described to
<br />TRUSTOR.
<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br />until filing of Notice of Default, the TRUSTOR shall:
<br />A. Retain possession of the property at a11 times, except as may be otherwise agreed by the
<br />parties in writing.
<br />B. Maintain the building and its improvements and all personal property sold under the
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<br />parties' Contract for Sale of Rea1 Estate, in good condition and repair.
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