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202304958
<br />FOR THE PURPOSE OF SECURING, in such order of priority as Beneficiary may elect:
<br />(1) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, covenant and agreement contained in
<br />$205,000.00 including, without
<br />limitation, all obligations evidenced by the Notes as defined therein, to Beneficiary; and
<br />any and all modifications, substitutions, extensions or renewals of the Notes and whether
<br />the entire amounts shall have been repaid in part; and
<br />(2) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, covenant and agreement of Trustor contained herein; and
<br />(3) Payment of any other or further indebtedness at any time owing by Trustor to
<br />Beneficiary however the same may be incurred, and in whatever form it may be, whether
<br />contingent or represented by notes, judgments, or otherwise, and all interest thereon;
<br />and
<br />(4) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, including payment obligations, covenants and agreements
<br />contained in the Notes and any Loan Agreements, Security Agreements, Financing
<br />Statements, or any other documents executed in connection therewith, or this Deed of
<br />Trust.
<br />The foregoing debts and obligations are hereinafter collectively referred to as the
<br />"Obligations").
<br />ARTICLE I
<br />COVENANTS
<br />Trustor covenants, warrants, represents and agrees to and with Beneficiary and Trustee
<br />as follows:
<br />1.01 Payment of Principal and Interest. Trustor will pay the Obligations according
<br />to the terms thereof.
<br />1.02 Warranty of Title. Trustor owns fee simple title to the Property and is lawfully
<br />seized of the Property hereby conveyed, has the right to grant and convey the Property, and has
<br />good and marketable title to the Property subject to no lien, charge or encumbrance—except for
<br />any such liens or encumbrances disclosed to Beneficiary in writing; Trustor owns the Fixtures free
<br />and clear of liens and claims, except as permitted under this Deed of Trust; and this Deed of Trust
<br />is and will remain a valid and enforceable lien on the Property subject only to the exceptions
<br />referred to below. Trustor represents and warrants that Trustor has full power and lawful
<br />authority to grant, assign, transfer and mortgage its interest in the Property in the manner and
<br />form hereby done or intended. Trustor will preserve its interest in and title to the Property and
<br />will forever warrant and defend the same to Trustee and will forever warrant and defend the
<br />validity and priority of the lien hereof against the claims of all persons and parties whomsoever.
<br />Trustor shall promptly and completely observe, perform, and discharge as and when due each
<br />and every obligation, covenant and agreement affecting the Property whether the same is prior
<br />and superior or subject and subordinate hereto.
<br />1.03 Further Assurances. Trustor shall, at its own cost and without expense to
<br />Trustee or Beneficiary, promptly execute, acknowledge and deliver, or cause to be executed,
<br />acknowledged and delivered, any and all such further conveyances, confirmations, instruments
<br />or further assurances and consents as Beneficiary may deem reasonably necessary or proper in
<br />Borrower: AXE HOLES LLC
<br />Property Owner: Eric and Danielle Christensen
<br />Address: 2610 S. Engleman Rd, Alda, NE 68810-9722
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