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<br />GUARANTY
<br />WHEREAS, Grand Island Health Care, Inc., a Nebraska
<br />corporation (hereinafter referred to as the "Borrower "), is
<br />desirous of borrowing from AMERICAN FEDERAL SAVINGS AND LOAN
<br />ASSOCIATION OF IOWA, a federally chartered savings and loan
<br />association (hereinafter referred to as the "Lender"), the sum of
<br />one million two hundred fifty thousand dollars ($1,250,000.00) in
<br />accordance with•a written promissory Note, secured by a Deed of
<br />Trust encumbering the described real estate:
<br />following
<br />Lot 1, Wolfe's Pmt Subdivision to the City af Grand i
<br />Island, Hall County- Nebraska;.and
<br />A part of Lot 4, iu..WEBB ROAD SUBDIVISION in the City of
<br />Grand Island, in Hall County, Nebraska, more particularly
<br />described as follows -..
<br />Beginning -at the Northeast corner of said Lot 4; thence
<br />Southerly, along the Easterly line of said Lot 4, a
<br />distance of 325.74 feet; - thence deflecting left 21016130"
<br />and running Southeasterly, along said Lot line, a
<br />distance of 188.9$ feet, to the Southeast corner of said
<br />Lot 4; theme- Westerly, along the Southerly line of said
<br />Lot 4, a distance of 143.48 feeta'thence deflecting right
<br />88'4510511 and 3: rwning Northerly, a distance of 500.26
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<br />feet, to the North line of said 4; thence ..Easterly,
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<br />along the North line of said Lot-'4, a distance-of 75.00
<br />feet, to the Place of Beginning..
<br />and further secured by security agreements, financing stater! nts�
<br />and other security; and
<br />WHEREAS, the undersigned individuals, Jack D. Vetter and ti
<br />Eldora D. Vetter, and the undersigned Vetter Holding, Inc., a
<br />Nebraska corporation, (hereinafter referred to as the
<br />"Guarantors ") , are desirous of inducing the said Lender to ;rake
<br />said loan to the Borrower and to that end and for that purpose are
<br />willing to guarantee the payment of all sums due the Lender from
<br />the Borrower and the performance of all obligations of the Borrower
<br />under the terms of any of the instruments mentioned above;
<br />NOW, THEREFORE, in consideration of the foregoing, it is
<br />agreed:
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<br />1. The Guarantors hereby jointly and severally
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<br />unconditionally guarantee: (a), the prompt jaa,yirent to the Le -der,
<br />when due, of any and all indebtedness ©t the Borrower under the
<br />terms of the above mentioned promissory Note, Deed of Trust,
<br />security agreements and financing statements, and (b) the prompt'
<br />performance of each and every obligation of the Borrower under the
<br />terms of any ©L" said instruments, and (c) the prompt payment of any
<br />and all attorneys, fees, costs and expenses incurred b3r.thb Lender
<br />in enforcing the terms of any of said instruments in any action or
<br />proceeding arising out of, or relating to, any of said instruments.
<br />The word " indebtedness" is used herein and throughout this
<br />instrument in lts most comprehensive sense and includes any and all
<br />advances, debts, obligations and liabilities of the Borrower
<br />heretofore, now, or hereafter made, incurred or created, whether
<br />voluntary or ifivoluntary and however arising, absolute or
<br />contingent, liquidated or unliquidated, determined or undetermined,
<br />whether or not such indebtedness is from time to time reduced, or
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<br />extinguished, and thereafter increased or incurred, whether the
<br />Borrower may be liable individually or jointly with others, whether
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<br />or not recovery upon such indebtedness may be or hereafter become
<br />barred by any statute of limitations, and whether or not such
<br />indebtedness may be or hereafter become otherwise unenforceable.
<br />D: \LOANDOC \HEALTH.GUA
<br />April 10, 1989 1
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