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<br /> DEED OF TRUST o
<br /> (With Future Advance Clause) -
<br /> - �.�
<br /> DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is December 23, 1999. The parties a
<br /> and their addresses are:
<br /> TRUSTOR (Grantor):
<br /> J AND D COMPANY LLC
<br /> a Corporation
<br /> 4306 W HWY 30
<br /> GRAND ISLAND, Nebraska 68803
<br /> TRUSTEE:
<br /> THE OVERLAND NATIONAL BANK OF GRAND ISLAND
<br /> Financial Institution
<br /> PO Box 1688
<br /> Grand Island, Nebraska 68802-1688
<br /> 470261795
<br /> BENEFICIARY (Lender):
<br /> OVERLAND NATIONAL BANK OF GRAND ISLAND
<br /> Organized and existing under the laws of the United States of America
<br /> 304 West 3rd Street
<br /> Grand Island, Nebraska 68802
<br /> 47--0261795
<br /> 1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br /> and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br /> grants, conveys and sells to Trustee, in trust for tFie benefit ot Lender, with power of sale, the following
<br /> described property:
<br /> LOT ONE (1►, BICK'S FOURTH SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br /> The Property is located in HALL County at 4306 W HIGHWAY 30, GRAND ISALAND, Nebraska 68803.
<br /> Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all
<br /> diversion payments or third party payments made to crop producers and all exist�ng and future improvements,
<br /> structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate
<br /> described (all referred to as Property►. This Security Instrument will remain in effect until the Secured Debts and
<br /> all underlying agreements have been terminated in writing by Lender.
<br /> 2. MAXIMUM OBLIGATION LIMIT. The total principal amount securE�d by this S«,curity Instrument at any one
<br /> time will not exceed S238,725.00. This limitation of amount does not include interest and other fees and
<br /> charges validly made pursuant to this Security Instrument. Also, this Iimitatior7 does not apply to advances
<br /> made under the terms of this Security Instrume�t to protect Lender's security and to perform any of the
<br /> covenants contained in this Security Instrument.
<br /> 3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br /> A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br /> replacements. A promissory note, No. LINE#, dated December 23, 1999,.frorn J AND D COMPANY LLC,
<br /> DOUGLAS R SCHUETT, RICHARD A HUEBNER, JEFFREY R GAREY and JEFFREY L WHITAKER (Borrower) to
<br /> Lender, in the amount of 560,725.00 with interest at the rate of 8.5 percent per year maturing on April 15,
<br /> 2000. One or more of the debts secured by this Security Instrument contains a tuture advance provision.
<br /> B. All Debts. All present and future debts from J AND D COMPANY LLi., DODULAS R :;CHUETT, RICHARD
<br /> A HUEBNER, JEFFREY R GAREY and JEFFREY L WHITAKER to Lender, even if this Security Instrument is not
<br /> specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br /> one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br /> with others who may not sign this Security Instrument. Nothing in this Se���rity Instrument constitutes a
<br /> commitment to make additional or future loans or advances. Any such commitn�ent must be in writing. In the
<br /> event that Lender fails to provide notice of the right of rescission, Lender w.+ives any subsequent security
<br /> interest in the Grantor's principal dwelling that is created t�y this Security Instrument. This Security
<br /> Instrument will not secure any debt for which a non-possessory, non-purch�+se money security interest is
<br /> created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br /> I�w governing unfair and deceptive credit practices. This Security Instrumer�t will not secure any debt for
<br /> which a security interest is created in "margin stock" and Lender does not obt�-�in a "statement of purpose,"
<br /> as defined and required by federal law governing securities.
<br /> J AND D COMPANY LLC �
<br /> Nebraska Deed Of Trust Initials�
<br /> NE/2nsonj05AA000000000000001A0000007Bn2 `�199'6 BankereSystems,Inc.,St.Cloud,MN Page 1 j_
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