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T ? D G C rn cn = D _ c D yM C/*) c, -) O rn u� N r-n m JV c7 - C� co N N O -11 O d. S1 \• - ( N D Ca O C� (_ D D --C CD 200004140 � z. THIS DEED OF TRUST is made on this /f-day of A/; y , 2000. The Trustor is KPT, Inc., a Nebraska Corporation ("Borrower"). The Trustee is Thomas Kovanda, Attorney at Law ( "Trustee "). The beneficiary is "The Ole Cow Palace ", a Nebraska Partnership, , Grand Island, Nebraska 68801 ( "Lender "). Borrower owes Lender the " principal sum of Sixty Thousand Dollars ($60,000). This debt is evidenced by Borrower's Note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments ending one hundred twenty (120) months from the date hereof. The Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property: See Attached Exhibit The mailing address of the Borrower is 3602 West Second Street, Grand Island, NE 68803. TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, and fixtures hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property ". Borrower COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record and a first Deed of Trust to the Heritage Bank of Grand Island, Nebraska. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. All real estate taxes and insurance shall be paid by Borrower when due. 3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument (excluding any first Deed of Trust) unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more 1