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<br />THIS DEED OF TRUST, made as of the
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<br />day of April 2001 , between
<br />Beau Shannon Builders, Inc.
<br />as Trustor, WASHINGTON COUNTY BANK , as Trustee, and WASHINGTON COUNTY BANK
<br />, as Beneficiary.
<br />WITNESSETH:
<br />That Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of sale, the following described
<br />property:
<br />Tot Four (4) in Westwood Park Fifth Subdivision in the City of Grand Island,
<br />Hall County, Nebraska.
<br />also known as
<br />together with all interest which Trustor now has or may hereafter acquire in and to said property and in and to: (a) all
<br />easements and rights of way appurtenant thereto; and (b) all buildings, structures, improvements, fixtures, equipment,
<br />furnishings and appurtenances now or hereafter placed thereon, it being intended and agreed that all classes of property
<br />attached or unattached, other than consumable goods, used or to be used in connection with said property, are conclusively
<br />deemed to be affixed to and to be part of the real property that is conveyed hereby. Trustor agrees to execute and deliver,
<br />from time to time, such further instruments as may be requested by Beneficiary to confirm the lien of this Deed of Trust on
<br />any of the aforementioned property. The property so conveyed to Trustee hereunder is hereinafter referred to as "such
<br />property."
<br />The Trustor absolutely and irrevocably grants, transfers and assigns to Beneficiary the rents, income, issues, and
<br />profits of all property covered by this Deed of Trust.
<br />FOR THE PURPOSE OF SECURING:
<br />1. Payment of the principal sum of ONE HUNDRED TWENTY -FIVE THOUSAND AND NO /100-- - - - - --
<br />Dollars ($ 125, 000.00 ) evidenced by promissory note(s) dated April 18, 2001
<br />,hereinafter reform to as the "Promisse -V Note" % hether one or more) issu3d by Beau Shannon Builders, Inc.
<br />( "Maker") and payable to the order of Beneficiary, together with interest thereon, late charges, and prepayment bonuses
<br />according to the terms of the Promissory Note and all renewals, extensions, and modifications thereof.
<br />2. Future Advances: It is agreed by Trustor, Trustee and Beneficiary that, in addition to the promissory note obligation
<br />mentioned above, this Deed of Trust shall secure all further loans or indebtedness owed or to be owed by Maker to Beneficiary,
<br />provided that such loans or indebtedness shall be made or accrue on or before January 15, 2002 , and
<br />further provided that the maximum amount secured by this Deed of Trust now or at any time hereafter shall not exceed
<br />ONE HUNDRED TWENTY -FIVE THOUSAND AND NO /100--------- - - - - -- Dollars ($ 125,000.00 ).
<br />Beneficiary's obligation to make further or future advances or re- advances shall be optional with Beneficiary, and such
<br />advances or re- advances may be made under the provisions hereof to the present or to any future owner of such property
<br />and shall be fully secured by, and fully subject to all of the covenants, terms, and conditions of, this Deed of Trust.
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