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<br />DEED OF TRUST
<br />(Participation)
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<br />After recording return to: Nebraska Economic Development Corp., 4445 South 86 Street, Suite 200, Lincoln, NE 68526
<br />THIS DEED OF TRUST, made this March 19, 2013, by and between Trausch Properties, L.L.C., a Nebraska
<br />Limited Liability Company, hereinafter referred to as "Trustor" whose business address is 3716 Westgate Road,
<br />Grand Island, Nebraska, GREGG J. STRATMAN, attorney, hereinafter referred to as "Trustee," whose address is
<br />10675 Bedford Avenue, Suite 100, Omaha, NE 68134, and Nebraska Economic Development Corporation,
<br />hereinafter referred to as "Beneficiary," who maintains an office and place of business at 4445 South 86 Street,
<br />Suite 200, Lincoln, NE 68526, in participation with the Small Business Administration, an Agency of the United
<br />States.
<br />WITNESSETH, that for and in consideration of $1.00 and other good and valuable consideration, receipt of
<br />which is hereby acknowledged, the Trustor does hereby bargain, sell, grant, assign, and convey unto the Trustee, his
<br />successors and assigns IN TRUST, WITH POWER OF SALE, all of the following described property situated and
<br />being in the County of Hall, State of Nebraska.
<br />Lot Twenty Two (22), Westgate Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />Together with and including all buildings, all fixtures, including but not limited to all plumbing, heating, lighting,
<br />ventilating, refrigerating, incinerating, air conditioning apparatus, and elevators (the Trustor hereby declaring that it
<br />is intended that the items herein enumerated shall be deemed to have been permanently installed as part of the
<br />realty), and all improvements now or hereafter existing thereon; the hereditaments and appurtenances and all other
<br />rights thereunto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders,
<br />and the rents, issues, and profits, all water, water rights, ditch and ditch rights of the above described property. To
<br />have and to hold the same unto the Trustee, and the successors in interest of the Trustee, forever, in fee simple or
<br />such other estate, if any, as is stated herein trust, to secure a promissory note of the above date, in the principal sum
<br />of: $488,000.00 signed by Joseph L. Trausch, Managing Member, of Trausch Properties, L.L.C.
<br />1. This conveyance is made upon and subject to the further trust that the said Trustor shall remain in
<br />quiet and peaceable possession of the above granted and described premises and take the profits thereof to his own
<br />use until the default be made in any payment of an installment due on said note or in the performance of any of the
<br />covenants or conditions contained therein or in this Deed of Trust; and, also to secure the reimbursement of the
<br />Beneficiary or any other holder of said note, the Trustee or any substitute trustee of any and all costs and expenses
<br />incurred, including reasonable attorney's fees on account of any litigation which may arise with respect to this Trust
<br />or with respect to the indebtedness evidenced by said note, the protection and maintenance of the property
<br />hereinabove described or in obtaining possession of said property after any sale which may be made as hereinafter
<br />provided.
<br />2. Upon the full payment of the indebtedness evidenced by said note and the interest thereon, the
<br />payment of all other sums herein provided for, the repayment of all monies advanced or expended pursuant to said
<br />note or this instrument, and upon the payment of all other proper costs, charges, commissions, and expenses, the
<br />above - described property shall be released and reconveyed to and at the cost of the Trustor.
<br />3. Upon default in any of the covenants or conditions of this instrument or of the note or loan
<br />agreement secured hereby, the Beneficiary or his assigns may without notice and without regard to the adequacy of
<br />security for the indebtedness secured, either personally or by attorney or agent without brining property or any part
<br />thereof, and do any acts which Beneficiary deems proper to protect the security hereof, and either with or without
<br />taking possession of said property, collect and receive the rents, royalties, issues, and profits thereof, including rents
<br />accrued and unpaid, and apply the same, less costs of operation and collection, upon the indebtedness secured by
<br />this Deed of Trust, said rents, royalties, issues, and profits being hereby assigned to the Beneficiary as further
<br />security for the payment of such indebtedness. Exercise of rights under this paragraph shall not cure or waive any
<br />default or notice of default hereunder or invalidate any act done pursuant to such notice but shall be cumulative to
<br />any right and remedy to declare a default and cause notice of default to be recorded as hereinafter provided, and
<br />cumulative to any other right and/or remedy hereunder, or provided by law, and may be exercised concurrently or
<br />independently. Expenses incurred by Beneficiary hereunder including reasonable attorney's fees shall be secured
<br />hereby.
<br />4. The Trustor covenants and agrees that if he shall fail to pay said indebtedness, or any part thereof,
<br />when due, or shall fail to perform any covenant or agreement of this instrument or of the promissory note secured
<br />hereby, the entire indebtedness hereby secured shall immediately become due, payable, and collectible at the option
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