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04 -03 -2000 200002793 DEED OF TRUST
<br />Loan No 766900 (Continued)
<br />Page 2
<br />PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID
<br />NORTHEAST QUARTER (NE1 /4); THENCE EASTERLY ALONG SAID CENTERLINE, A DISTANCE OF
<br />TWO HUNDRED FORTY -SIX (246.0) FEET, TO A POINT ON THE WEST LINE OF SAID NORTHEAST
<br />QUARTER (NE1 /4); THENCE NORTHERLY ALONG SAID WEST LINE OF THE NORTHEAST QUARTER
<br />(NE1 /4), A DISTANCE OF ONE THOUSAND THREE HUNDRED SIXTY -FIVE AND SIXTEEN HUNDREDTHS
<br />(1,365.16) FEET TO THE PLACE OF BEGINNING EXCEPT THAT PORTION MORE PARTICULARLY
<br />DESCRIBED IN WARRANTY DEED DATED OCTOBER 2, 1979, RECORDED IN BOOK 176, PAGE 300
<br />AND EXCEPT THAT PORTION MORE PARTICULARLY DESCRIBED IN CORPORATION WARRANTY
<br />DEED DATED JUNE 16, 1966, RECORDED IN BOOK 151, PAGE 603 AND EXCEPT THAT PORTION
<br />MORE PARTICULARLY DESCRIBED IN CORPORATION WARRANTY DEED DATED DECEMBER 10, 1970
<br />AND RECORDED IN BOOK 163, PAGE 152.
<br />The Real Property or its address is commonly known as 1009 E STOLLEY PARK RD, GRAND ISLAND, NE
<br />68801 -8259.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all present and
<br />future leases of the Property and all Rents from the Property. In addition, Trustor grants Lender a Uniform Commercial Code security interest in the
<br />Rents and the Personal Property defined below.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust. Terms not otherwise defined in this Deed of
<br />Trust shall have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in
<br />lawful money of the United States of America.
<br />Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br />connection with the Indebtedness.
<br />Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal and interest payable under the Note and any amounts expended or advanced by
<br />Lender to discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br />together with interest on such amounts as provided in this Deed of Trust. Specifically, without limitation, this Deed of Trust secures, in addition
<br />to the amounts specified in the Note, all future amounts Lender in its discretion may loan to Trustor, to ether with all interest thereon; however,
<br />in no event shall such future advances (excluding interest) exceed in the aggregate $375,000.00. We lien of this Deed of Trust
<br />shall not exceed at any one time $37,000.00.
<br />Note. The word "Note" means the Note dated April 3, 2000, in the principal amount of $375,051.00 from Trustor to Lender,
<br />together with all renewals, extensions, modifications, refinancings, and substitutions for the Note.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
<br />replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br />proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property" mean the property, interests and rights described above in the "Conveyance and Grant" section.
<br />Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other instruments, agreements and
<br />documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustor. The word "Trustor" means any and all persons and entities executing this Deed of Trust, including without limitation all Trustors named
<br />above.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br />TRUSTOR UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE
<br />ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY
<br />AND ALL OBLIGATIONS OF TRUSTOR UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF
<br />EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED
<br />DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THE NOTE AND THIS
<br />DEED OF TRUST ARE GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this Deed
<br />of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust, and the
<br />Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed by
<br />the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (a) remain in possession and control of the Property, (b) use,
<br />operate or manage the Property, and (c) collect any Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance
<br />necessary to preserve its value.
<br />Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust
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