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200106192
<br />Trustor hereby irrevocably grants and conveys to Trustee, IN TRUST, WITH
<br />POWER OF SALE and right of entry and possession, all of Trustor's estate, right,
<br />title and interest in, to and under and grants to Beneficiary a security interest in
<br />any and all of the following described property which is, except where the context
<br />otherwise requires, herein collectively called the "Property," whether now owned
<br />or held or hereafter acquired, and any proceeds, products, accessories, rents,
<br />profits, and substitutions thereof or thereto, including:
<br />(A) The real property described as follows: Lot Two (2), Dowd
<br />Subdivision, in the City of Grand Island, Hall County, Nebraska,
<br />together with all of the easements, rights, privileges, franchises and
<br />appurtenances belonging or in any way pertaining thereto, either at law or
<br />in equity ( "Premises ");
<br />(B) All structures, buildings, and improvements of every kind and
<br />description now or at any time hereafter located on or used in connection
<br />with the Premises, including any replacements thereof or additions thereto
<br />( "Improvements ") ;
<br />(C) All fixtures on the Premises, including any replacements thereof
<br />or additions thereto ( "Fixtures ");
<br />(D) All of the rents, royalties, issues, profits, revenue, income and
<br />other benefits in any way arising from or relating to the Premises or the
<br />Improvements, or both ( "Rents and Profits "); and
<br />(E) All proceeds (including claims and demands therefor) of the
<br />conversion, voluntary or involuntary, of any of the foregoing into cash or
<br />liquidated:claims, including, without limitation, proceeds of insurance and
<br />condemnation awards.
<br />FOR THE PURPOSE OF SECURING:
<br />(1) All indebtedness now or hereafter owing by Dreisbach's Steak
<br />House, Inc. (hereinafter "Dreisbach's ") to Beneficiary on the open account
<br />of Dreisbach's with Beneficiary;
<br />(2) Due, prompt and complete observance, performance and
<br />discharge of each and every obligation, covenant and agreement of Trustor
<br />contained herein or in any other instrument or agreement heretofore or
<br />hereafter executed by any Trustor having reference to or arising out of the
<br />indebtedness of Dreisbach's to Beneficiary; and
<br />(3) Payment of any other or further indebtedness at any time owing
<br />by Dreisbach's to Beneficiary, however the same may be advanced, and in
<br />whatever form it may be, whether represented by notes, drafts, open
<br />accounts, overdrafts, or otherwise, and all interest thereon (the
<br />"Obligations ") .
<br />ARTICLE I
<br />COVENANTS OF TRUSTOR
<br />Trustor covenants, warrants and agrees to and with Beneficiary and Trustee
<br />as follows:
<br />1.01 Warranty of Title. Trustor is lawfully seised of the Property hereby
<br />conveyed, has the right to grant and convey the Property, and Trustor has good
<br />383934.1 -2-
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