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DEED OF TRUST
<br />This DEED OF TRUST is made as of 06/29/2001 by and among the Trustor, LUTHERAN HIGH
<br />SCHOOL ASSOCIATION OF CENTRAL NEBRASKA, INC, whose mailing address for purposes of this Deed of •�
<br />Trust is , PO BOX 5554 GRAND ISLAND, NE 68802 -5554, (herein, "Trustor ", whether one or more), the Trustee,
<br />AREND R. BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is
<br />P. O. Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "), and the Beneficiary, HOME FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand
<br />Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />LUTHERAN HIGH SCHOOL ASSOCIATION OF CENTRAL NEBRASKA, INC. (herein "Borrower ", whether
<br />one or more), and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocable
<br />grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
<br />of the Lender, under and subject to the terms and conditions hereinafter set forth, legally described as follows:
<br />THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER (SW1 /4 SWI /4) OF
<br />SECTION TWENTY -FIVE (25), TOWNSHIP ELEVEN (11) NORTH, RANGE TEN (10),
<br />WEST OF THE 6T" P.M., HALL COUNTY, NEBRASKA EXCEPT THAT TRACT DEEDED
<br />TO THE COUNTY OF HALL, STATE OF NEBRASKA, AS RECORDED IN BOOK 137, AT
<br />PAGE 495 OF THE DEED RECORDS OF HALL COUNTY, NEBRASKA; AND EXCEPT
<br />THAT TRACT DEEDED TO MARVIN LAUTENSCHLAGER AND VIOLET
<br />LAUTENSCHLAGER AS RECORDED IN BOOK 144, AT PAGE 109 OF THE DEED
<br />RECORDS OF HALL COUNTY, NEBRASKA; AND EXCEPT THOSE TRACTS DEEDED TO
<br />WILLIE J. VOGELTANZ AND MILDRED R. VOGELTANZ, HUSBAND AND WIFE AS
<br />RECORDED IN BOOK 168 AT PAGE 117, AND IN BOOK 171, AT PAGE 215 OF THE
<br />DEED RECORDS OF HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a
<br />Promissory Note dated 06/29/2001, having a maturity date of September 29, 2001, in the original principal amount
<br />of FIFTY THOUSAND AND 00 /100 Dollars ($50,000.00), and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and re- advances to Borrower (or any of them if more than one)
<br />hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of
<br />other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and
<br />agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or
<br />any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note,
<br />guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note
<br />or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br />assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
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<br />DEED OF TRUST
<br />This DEED OF TRUST is made as of 06/29/2001 by and among the Trustor, LUTHERAN HIGH
<br />SCHOOL ASSOCIATION OF CENTRAL NEBRASKA, INC, whose mailing address for purposes of this Deed of •�
<br />Trust is , PO BOX 5554 GRAND ISLAND, NE 68802 -5554, (herein, "Trustor ", whether one or more), the Trustee,
<br />AREND R. BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is
<br />P. O. Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "), and the Beneficiary, HOME FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand
<br />Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />LUTHERAN HIGH SCHOOL ASSOCIATION OF CENTRAL NEBRASKA, INC. (herein "Borrower ", whether
<br />one or more), and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocable
<br />grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
<br />of the Lender, under and subject to the terms and conditions hereinafter set forth, legally described as follows:
<br />THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER (SW1 /4 SWI /4) OF
<br />SECTION TWENTY -FIVE (25), TOWNSHIP ELEVEN (11) NORTH, RANGE TEN (10),
<br />WEST OF THE 6T" P.M., HALL COUNTY, NEBRASKA EXCEPT THAT TRACT DEEDED
<br />TO THE COUNTY OF HALL, STATE OF NEBRASKA, AS RECORDED IN BOOK 137, AT
<br />PAGE 495 OF THE DEED RECORDS OF HALL COUNTY, NEBRASKA; AND EXCEPT
<br />THAT TRACT DEEDED TO MARVIN LAUTENSCHLAGER AND VIOLET
<br />LAUTENSCHLAGER AS RECORDED IN BOOK 144, AT PAGE 109 OF THE DEED
<br />RECORDS OF HALL COUNTY, NEBRASKA; AND EXCEPT THOSE TRACTS DEEDED TO
<br />WILLIE J. VOGELTANZ AND MILDRED R. VOGELTANZ, HUSBAND AND WIFE AS
<br />RECORDED IN BOOK 168 AT PAGE 117, AND IN BOOK 171, AT PAGE 215 OF THE
<br />DEED RECORDS OF HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a
<br />Promissory Note dated 06/29/2001, having a maturity date of September 29, 2001, in the original principal amount
<br />of FIFTY THOUSAND AND 00 /100 Dollars ($50,000.00), and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and re- advances to Borrower (or any of them if more than one)
<br />hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of
<br />other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and
<br />agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or
<br />any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note,
<br />guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note
<br />or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br />assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
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