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<br /> ��� Deed of Trust, Security Agreemen �
<br /> �Iw�'BANKS and Fixture Financing Statement
<br /> ���� (Nebraskal(`'�
<br /> This Deed of Trust, SecurityAgreement and Fixture Financing Statement("Deed of Trusi"J is made 12/30/1999 , by and �
<br /> berween Grand Island Area Economic Development CorT�oration _____
<br /> Ithe "Trustor"/a(nJ Non-Profit Corporation :
<br /> Norwest Bank Nebraska, National Association _
<br /> (the "Trustee'7, a national banking association, and
<br /> Norwest Bank Nebraska National Association _
<br /> lthe "Beneficiary"), a national banking association. W/TNESSETN:
<br /> lF TH/S BOX/S CHECKED ❑ TH/S DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY
<br /> AC,REEMENT UNDER THE NEBRASKA CONSTRUCT/ON L/EN ACT AND CREATES, GRANTS AND
<br /> CONSTITUTES A CONSTRUCT/ON SECURITY/NTEREST lN THE PROPERTY DESCR/BED BELOW.
<br /> WHEREAS,
<br /> � Trustor has executed and delivered to Beneficiary a promissory note in the principal sum of _ __ ____
<br /> $���an Ni�nc]rPr3 Thrni�anc3 anr3 ��100 ___
<br /> Dollars lS 7��, ��� _p p l, dated -I��'t n.�'1 9 9 9 , payable to the o�der of Beneficiary and having a maturity of
<br /> n� /�S/���S , together with interest ihereon, late charges,p�epayment penalties, any future advances, and all
<br /> extensions, modilications, substitutions and renewals thereof(hereinafter the "Note"l.
<br /> ❑
<br /> (the "Bonower"/, has applied to Beneficiary for one or more loans, letters of credit, or other financial accommodations and may hereafter
<br /> from time to time apply to Beneficiary for additional loans, letters of credit and other financia/accommodations, and to induce Beneficiary
<br /> to provide financial accommodations to Borrower:
<br /> ❑ lf this box is checked, Trustor has gua�anteed to Beneficiary the payment and performance of each and every debt, liability and
<br /> obligation of every type and description which Borrower may now or at any time hereafter owe to Beneficiary lwhether such debr,
<br /> liability or obligation now exists o�is hereafte�created or incurred, and whether it is or may be direct or indirect, due or to become
<br /> due, absolute or contingeni,p�imary or secondary, liquidated or unliquidated, or joint, seve�al or joint and several),
<br /> ❑ lf this box is checked, Trustor has guaranteed to Beneficiary the payment and performance of the debt, liability, or obligarion of
<br /> Borrowe�to Beneficiary evidenced by or arising out of the following:
<br /> and any extensions, renewals or replacements thereof, together with accrued interest thereon and�elated costs of enforcement and
<br /> coUection expenses,pursuant to a Guaranty(hereinafter the "Guaranty'7 of even date he�ewrth.
<br /> T�ustor sha//a/so pay a//other sums, fees or charges, together with inteiest ihereon, advanced fo protect the security of this Deed of Trusi
<br /> and the performance of the covenants and agreements of T�ustor, whethe�or not set forth herein and perfo�m, discharge and comply with
<br /> every term, covenant, obligation and ag�eement of Trustor contained herein or incorporated by reference (T�ustor's obligations under the
<br /> Note or the Guaranty, as applicable, and all such other sums are hereinafter collectively referred to as the "Obligations"I.
<br /> NOW, THEREFORE, in consideration of the premises and for the purpose of securing the Obligations, Trustor inevocably grants
<br /> and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property located in the County of
<br /> Hall , State of Nebraska:
<br /> See Attached Exhibit "A"
<br /> SUBJECT TO: easements and restrictions of record, and:
<br /> togeiher with lil all buildings, siructures, additions, enlargemenrs, modifications, repairs, rep/acements, and improvements now or hereafter
<br /> located ihereon, (iiJ all equipment, machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, eir
<br /> conditioning, sprinkling and plumbing fixtures, wate�and power systems, engines, boilers, ranges, ovens, dishwashers, minors and mantels,
<br /> carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transforme�s,
<br /> electrical equipmeni, siorm and screen windows, doo�s, awnings and shades)now or hereafier attached to, or built in, any building
<br /> imp�ovement or rmprovement now or hereafter located thereon, (iii)all easements and rights of way appurienant thereto, (ivJ all leasehold
<br /> esiate, right, tit/e and interesi of Trustor in and to a///eases, whethe�now or hereafte�existing or eniered into (inc/uding, withoui/imitation,
<br /> all cash and security deposits, advance rentals and deposits or payments of a similar narureJ,pertaining thereto, (v1 all renis, issues,profits
<br /> and income therefrom (subject to ihe right of Trustor to collect and apply such�ents, issues,profits and income as they become due and
<br /> payable so long as no event of default exists hereunderJ, (vil all royalties, mineral, oil and gas�ights and profits, water, water rights, and
<br /> water stock, (vii/a//tenements, hereditaments,privi/eges and appu�tenances be/onging, used or enjoyed in connection therewith, and(viii) a//
<br /> p�oceeds of conversron, voluntary or involuntary, of any of the foregoing into cash or liquidated claims lincluding, without limitation,
<br /> proceeds of insurance and condemnation awa�dsJ, all oi which are hereinafter collectively the "Trust Property.'
<br /> TO PROTECT THE SECUR/TY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br /> 1. Title. Trustor covenants, warrants and agrees with Beneficia�y, its successois and assigns, that Trustor owns the T�ust Property fsubject
<br /> to any land sale contract described aboveJ and has the right to convey ihe T�ust Property, that ihe Trust Property is fiee from any prior lien
<br /> or encumbrance except as otherwise listed above, that this Deed of Trusi is and will remain a valid and enforceable lien on the Trust
<br /> Property, that Trustor, at its expense, wi//preserve such tit/e and wi//maintain this Deed of Trust as a/ien upon the Trust Properiy and wi//
<br /> forever warrant and defend the validity and priority of the lien hereof against the claims of all peisons and parties whomsoever. Trustor, at its
<br /> expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and recorded as a mo�tgage of ihe Trust
<br /> P�operty in such manner and in such place and will take such action as in the opinion of Trustee may be required by any present or future
<br /> law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may be amended or supplemenied from time to time.
<br />, Trustor will make such further assurance or assurances to perfect its title to the Trust Properiy as may be required by Beneficiary. Trustor .
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