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20200826;
<br />1. DEFINITIONS. For the purposes of this document, the following term has the following
<br />meaning.
<br />A. Loan. "Loan" refers to this transaction generally, including obligations and duties arising
<br />from the terms of all documents prepared or submitted for this transaction.
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is
<br />acknowledged, and to secure the Secured Debts and Grantor's performance under this Security
<br />Instrument, Grantor does hereby irrevocably grant, convey and sell to Trustee, in trust for the
<br />benefit of Lender, with power of sale, the following described property:
<br />Lot Two (2), Westgate Fifth Subdivision to the City of Grand Island
<br />The property is located in Hall County at 204 S. Claude Road, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights,
<br />all water and riparian rights, wells, ditches and water stock, crops, timber including timber to be
<br />cut now or at any time in the future, all diversion payments or third party payments made to
<br />crop producers and all existing and future improvements, structures, fixtures, and replacements
<br />that may now, or at any time in the future, be part of the real estate described (all referred to
<br />as Property). This Security Instrument will remain in effect until the Secured Debts and all
<br />underlying agreements have been terminated in writing by Lender.
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security
<br />Instrument is unlimited. Any limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply
<br />to advances made under the terms of this Security Instrument to protect Lender's security and
<br />to perform any of the covenants contained in this Security Instrument.
<br />4. SECURED DEBTS AND FUTURE ADVANCES. The term "Secured Debts" includes and this
<br />Security Instrument will secure each of the following:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings,
<br />modifications and replacements. A promissory note or other agreement, dated October 12,
<br />2020, from J & L Westward Enterprises, LLC (Borrower) to Lender, with a loan amount of
<br />$ 2,000,000.00.
<br />B. Future Advances. All future advances from Lender to J & L Westward Enterprises, LLC
<br />under the Specific Debts executed by J & L Westward Enterprises, LLC in favor of Lender
<br />after this Security Instrument. If more than one person signs this Security Instrument, each
<br />agrees that this Security Instrument will secure all future advances that are given to J & L
<br />Westward Enterprises, LLC either individually or with others who may not sign this Security
<br />Instrument. All future advances are secured by this Security Instrument even though all or
<br />part may not yet be advanced. All future advances are secured as if made on the date of
<br />this Security Instrument. Nothing in this Security Instrument shall constitute a commitment
<br />to make additional or future advances in any amount. Any such commitment must be
<br />agreed to in a separate writing.
<br />C. All Debts. All present and future debts from J & L Westward Enterprises, LLC to Lender,
<br />even if this Security Instrument is not specifically referenced, or if the future debt is
<br />unrelated to or of a different type than this debt. If more than one person signs this Security
<br />Instrument, each agrees that it will secure debts incurred either individually or with others
<br />who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br />J & L Westward Enterprises, LLC
<br />Nebraska Deed Of Trust
<br />NE/4XXMUTTER00000000002299072101020N
<br />Wolters Kluwer Financial Services ©1996, 2020 Bankers Page 2
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