|
2 0il)01.50?
<br />($720,000.00), with interest thereon, as evidenced by that
<br />certain Trust Note of even date (the "Note "), with a maturity
<br />date of July 1, 2007, executed by Mid - Country Trading, L.L.C., a
<br />Nebraska limited liability company, which is hereafter referred
<br />to as "Borrower ", which has been delivered and is payable to the
<br />order of Lender, and which by this reference is hereby made a
<br />part hereof, and any and all modifications, extensions, and
<br />renewals thereof or thereto and any and all future advances and
<br />readvances hereunder pursuant to one or more notes or credit
<br />agreements (herein called "Note ");
<br />B. Payment of late charges, prepayment charges, and charges
<br />calculated on the same basis as prepayment charges upon
<br />acceleration of the indebtedness secured hereby;
<br />C. Payment of other sums advanced by Lender to Borrower
<br />from time to time, and as security for the payment of any and all
<br />other indebtedness of the Borrower to the Lender which may arise,
<br />and advances made to protect the Trust Estate, all with interest
<br />thereon at the rate of Three Percent (3.00V above the interest
<br />rate in existence at the time of maturity, or when an Event of
<br />Default is declared, or at the highest interest rate permitted
<br />under the laws of the State of Nebraska, whichever rate is lower;
<br />D. The performance of all covenants and agreements of
<br />Borrower set forth herein, and in all other Loan Instruments; and
<br />E. All present and future indebtedness and obligations of
<br />Borrower to Lender relating to the Property, whether direct,
<br />indirect, absolute, or contingent and whether existing by note,
<br />guaranty, overdraft or otherwise. The Note, the Trust Deed, the
<br />Security Agreement and Financing Statement, the Assignment of and
<br />Security Interest in Leases and Rents, the Building Loan
<br />Agreement, and the Commitment Letter dated February 1, 2000,
<br />shall be referred to herein as the "Loan Instruments ".
<br />BORROWER, TO PROTECT THE SECURITY OF THIS TRUST DEED, COVENANTS
<br />AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Principal and Interest. Borrower shall
<br />promptly pay when due the principal of and interest on, and any
<br />fees or charges provided in, the Note or in this Trust Deed.
<br />2. Title. Trustor is the owner of the Property, has the
<br />right and authority to convey the Property, and warrants that the
<br />lien created hereby is a second lien on the Property, except as
<br />may otherwise be set forth herein, and the execution and delivery
<br />of this Trust Deed does not violate any contract or other
<br />obligation to which Trustor is subject. Trustor will forever
<br />warrant and defend the title thereto against the claims and
<br />demands of all persons whosoever; and it will, at its expense,
<br />maintain and preserve the lien of this Trust Deed as a first
<br />paramount lien upon the Property.
<br />3. Taxes. Borrower shall pay each installment of all
<br />taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof and all
<br />payments or monetary obligations required of the owner of the
<br />Property under any covenants, declaration, agreement, conditions
<br />or restrictions pertaining to the Property, before delinquency,
<br />without notice or demand, and shall, before delinquent date,
<br />provide Lender with evidence of the payment of same.
<br />Borrower shall pay all taxes and assessments which may be
<br />levied upon Borrowers interest herein or upon this Trust Deed or
<br />the debt secured hereby, without regard to any law that may be
<br />enacted imposing payment of the whole or any part thereof upon
<br />the Lender.
<br />2
<br />
|