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<br />Return to: Grand Island Abstract, Escrow & Title Company
<br />704 W. 3rd Street
<br />Grand Island NE 68801
<br />DEED OF TRUST
<br />This DEED OF TRUST is made effective as of the 1 day of April, 2021, by and among
<br />CORMAN PROPERTIES, LLC, a Nebraska limited liability company, for which its mailing
<br />address for purposes of this Deed of Trust is 1603 Summerfield Avenue, Grand Island, NE
<br />68803 (herein, "Trustor" or "Borrower"); Old Republic National Title Company, (herein,
<br />"Trustee"); and the Beneficiary, O'CONNOR PROPERTIES, L.L.C., a Nebraska limited
<br />liability company, whose mailing address is 2502 N. Webb Road, Suite A, PO Box 139, Grand
<br />Island, NE 68802-0139 (herein, "Lender").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit to
<br />Borrower and the trust herein created, the receipt of which is hereby acknowledged, Trustor
<br />hereby irrevocably grants, transfers, conveys, and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and
<br />conditions hereinafter set forth, all of Trustor's interest in the following real estate located in
<br />Hall County, Nebraska, legally described as follows:
<br />Lot Three (3), Block Two (2), Crane Valley Subdivision, in the City of Grand
<br />Island, Hall County, Nebraska;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges, and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof, and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including but not limited to heating
<br />and cooling equipment, and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived; all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust,
<br />and all of the foregoing being referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest
<br />evidenced by a Promissory Note of even date herewith having a maturity date of May 1, 2041, in
<br />the original principal amount of Two Hundred Thousand and No/100 Dollars ($200,000.00), and
<br />any and all modifications, extensions, and renewals thereof or thereto, and any and all future
<br />advances and re -advances to Borrower hereunder pursuant to one or more promissory notes or
<br />credit agreements (herein called the "Note"); (b) the payment of other sums advanced by Lender
<br />to protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower
<br />to Lender, whether direct, indirect, absolute, or contingent and whether arising by note, guaranty,
<br />overdraft, or otherwise. The Note, this Deed of Trust, and any and all other documents securing
<br />the Note or otherwise executed in connection therewith, including without limitation guarantees,
<br />security agreements, and assignments of leases and rents, shall be referred to herein as the "Loan
<br />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
<br />Property, and warrants that the lien created hereby is a first and prior lien on the Property and
<br />that the execution and delivery of this Deed of Trust does not violate any contract or other
<br />obligation to which Trustor is subject.
<br />3. Taxes, Assessments. Trustor shall pay, before delinquent, all taxes, special
<br />assessments, and all other charges against the Property now or hereafter levied.
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