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202107049
<br />THIS COMBINATION DEED OF TRUST, SECURITY AGREEMENT, FIXTURE
<br />FILING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS, dated as of August 16,
<br />2021 (this "Deed of Trust"), is made by CENTRAL NEBRASKA EDUCATION AGENCY
<br />("Borrower"), a Nebraska interlocal agency duly organized and in good standing under the laws of the
<br />state of Nebraska (the "State"), to FIVE POINTS BANK, a State banking corporation duly organized
<br />and validly existing under and by virtue of the laws of the State ("Trustee"), for the benefit of FIVE
<br />POINTS BANK, a State banking corporation duly organized and validly existing under and by virtue of
<br />the laws of the State, in its capacity as Lender under the Loan Agreement (hereinafter identified and
<br />referred to as `Beneficiary").
<br />RECITALS:
<br />WHEREAS, concurrently herewith Borrower is borrowing from Beneficiary the principal sum of
<br />$7,177,979.80 pursuant to the terms of a Loan Agreement, dated as of August 16, 2021, among Borrower
<br />and Beneficiary (the "Agreement");
<br />WHEREAS, in connection with the Agreement and said loan, for the purpose of inducing
<br />Beneficiary to loan proceeds to Borrower, Borrower is executing its $7,177,979.80 Central Nebraska
<br />Education Agency, Lease Rental Revenue Bond, Series 2021 (the "Bond"), pursuant to the provisions of
<br />the Nebraska Interlocal Cooperation Act, Sections 13-801 et seq., Reissue Revised Statutes of Nebraska,
<br />as amended (the "Interlocal Act");
<br />WHEREAS, the Bond has been purchased by Beneficiary;
<br />WHEREAS, Borrower has agreed under the terms of the Agreement to apply the proceeds of the
<br />loan to fund the acquisition, equipping and/or furnishing of an early childhood education center in Grand
<br />Island, Nebraska, (collectively, the "Project") and to pay the professional costs related to such financing;
<br />WHEREAS, in connection with the Agreement and said loan, for the purpose of inducing
<br />Beneficiary to loan proceeds to Borrower, Borrower is executing a Lease Agreement (the "Lease") with
<br />Hall County School District 0002 (Grand Island Public Schools), in the State of Nebraska (the
<br />"District"), pursuant to Sections 79-10,105 and 79-10,107, Reissue Revised Statutes of Nebraska, as
<br />amended (the "Leasing Act") for the District to utilize the Project in connection with the District's early
<br />childhood education program;
<br />WHEREAS, Borrower has further agreed pursuant to the Agreement to make payments to
<br />Beneficiary in amounts sufficient to pay when due the principal of, premium, if any, and interest on the
<br />Bond;
<br />WHEREAS, concurrently herewith, the Borrower is acquiring title to the Project and Project Site;
<br />and
<br />WHEREAS, in order to secure its obligations under the Agreement, and to further induce
<br />Beneficiary to loan funds to Borrower under and pursuant to the Agreement, Borrower has agreed to
<br />execute this Deed of Trust as owner of the Project Site and titleholder to the Project, both of which
<br />interests are conveyed, pledged and assigned hereunder.
<br />NOW, THEREFORE, in consideration of the foregoing and other good and valuable
<br />consideration, Borrower hereby irrevocably grants and conveys to Trustee, IN TRUST WITH POWER
<br />OF SALE for the benefit and security of Beneficiary under and subject to the terms and conditions
<br />hereinafter set forth, all of Borrower's estate, right, title and interest in, to and under, and grants to
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