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m <br />- n <br />N Z n <br />cn� m <br />y ,v,+ <br />es) r_ <br />N <br />✓ • � <br />DEED OF TRUST <br />(Participation) <br />4.doc 1 <br />Lot One (1), Lemke Subdivision, in the City of Grand Island, Hall County, Nebraska. <br />After recording return to: Nebraska Economic Development Corp., 4445 South 86` Street, Suite 200, Lincoln, NE 68526 <br />C) <br />THIS DEED OF TRUST, made this February 19, 2015, by and between Kelan J. Kava„ a Single Person, C <br />▪ hereinafter referred to as "Trustor" whose business address is 3406 W. Capital Ave, Grand Island, Nebraska, �� <br />W GREGG J. STRATMAN, attorney, hereinafter referred to as "Trustee," whose address is 10675 Bedford Avenue, <br />Cfi Suite 100, Omaha, NE 68134, and Nebraska Economic Development Corporation, hereinafter referred to as <br />"1 "Beneficiary," who maintains an office and place of business at 4445 South 86 Street, Suite 200, Lincoln, NE <br />68526, in participation with the Small Business Administration, an Agency of the United 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 />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: $92,000.00 signed by Kelan J. Kava, personally. <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 <br />m <br />--1 <br />m <br />co rn <br />CD <br />CJI (f) <br />O <br />F--+ Cn <br />N 73 <br />O <br />