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201901174
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Last modified
12/9/2019 6:26:48 PM
Creation date
2/28/2019 4:07:19 PM
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DEEDS
Inst Number
201901174
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201901174 <br />CONSTRUCTION LEASEHOLD DEED OF TRUST AND SECURITY AGREEMENT <br />WITH ASSIGNMENT OF RENTS <br />This Construction Leasehold Deed of Trust and Security Agreement with Assignment of <br />Rents (the "Deed of Trust") dated as of February 28, 2019 from GI HOSPITAL BUILDING, LLC, a <br />Nebraska limited liability company, with its principal place of business and mailing address at <br />3533 Prairieview, Grand Island, NE 68803 (hereinafter referred to as "Grantor"), to U.S. BANK <br />NATIONAL ASSOCIATION, as Trustee with a mailing address of 400 City Center, Oshkosh, WI <br />54901 (said Trustee together with any successors in trust being hereinafter referred to as <br />"Trustee"), in trust for the benefit of U.S. BANK NATIONAL ASSOCIATION, a national banking <br />association with its principal place of business at 400 City Center, Oshkosh, WI 54901 <br />(hereinafter referred to as "Beneficiary"); <br />WITNESSETH THAT: <br />WHEREAS, GI HOSPITAL REAL ESTATE, LLC, a Nebraska limited liability company <br />("Real Estate"), GI HOSPITAL EQUIPMENT, LLC, a Nebraska limited liability company <br />("Equipment") and Grantor (together with Building and Equipment, the "Borrowers" and each <br />individually, a "Borrower"), GRAND ISLAND HOSPITAL HOLDINGS, LLC, a Nebraska limited <br />liability company ("Holdings ") as a guarantor, and Beneficiary have entered into that certain <br />Credit Agreement dated as of February 28, 2019 (such Credit Agreement, as the same may from <br />time to time be amended, modified or restated, being hereinafter referred to as the "Credit <br />Agreement"), pursuant to which Beneficiary has agreed, subject to certain terms and conditions, <br />to make available to the Borrower (i) a term credit facility (the "Building Term Credit") in a <br />maximum principal amount of $34,900,000 with advances under the Building Term Credit to be <br />evidenced by a Building Term Note of the Borrower payable to the order of Beneficiary and <br />maturing in no event later than February 28, 2024 (the "Facility Termination Date ") and bearing <br />interest thereon at the rates and payable at the times provided in the Credit Agreement (such <br />Building Term Note and any and all promissory notes issued in renewal thereof or in substitution <br />or replacement therefor being hereinafter referred to as the "Building Term Note"), (ii) a term <br />credit facility (the "Equipment Term Credit") in a maximum principal amount of $20,000,000 <br />with advances under the Equipment Term Credit to be evidenced by an Equipment Term Note of <br />the Borrower payable to the order of Beneficiary and maturing in no event later than the Facility <br />Termination Date and bearing interest thereon at the rates and payable at the times provided in <br />the Credit Agreement (such Equipment Term Note and any and all promissory notes issued in <br />renewal thereof or in substitution or replacement therefor being hereinafter referred to as the <br />"Equipment Term Note ") and (iii) a term credit facility (the "TIF Term Credit" and the Building <br />Term Credit and the Equipment Term Credit being hereinafter referred to collectively as the <br />"Credits" and individually as a "Credit") in a maximum principal amount of $11,600,000 with <br />advances under the TIF Term Credit to be evidenced by a TIF Term Note of the Borrower <br />payable to the order of Beneficiary and maturing in no event later than the Facility Termination <br />Date and bearing interest thereon at the rates and payable at the times provided in the Credit <br />Agreement (such TIF Term Note and any and all promissory notes issued in renewal thereof or in <br />deed of trust (Leasehold) 4819-6984-3593 v2.doc <br />4268520 <br />
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