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<br /> situated thereon and all personal property that may be or hereafter become an
<br /> integral part of such buildings and improvements.
<br /> The property and the entire estate and interest conveyed to the Trustee are
<br /> referred to collectively as the "Trust Estate".
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of $200,000.00,
<br /> with interest thereon, as evidenced by that certain Promissory Note of even date
<br /> (the "Note") with a maturity date of April 1, 2014, executed by Trustors, which
<br /> has been delivered and is payable to the order of Beneficiary, and which by this
<br /> reference is hereby made a part hereof, and any and all modifications, extensions
<br /> and renewals thereof, and,
<br /> b. Payment of all sums advanced by Beneficiary to protect the Trust
<br /> Estate, with interest thereon at the rate of sixteen (16�) percent per annum.
<br /> This Deed of Trust, the Note, and any other instrument given to evidence
<br /> or further secure the payment and performance of any obligation secured hereby
<br /> are referred to collectively as the "Loan Instruments".
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<br /> � D�LD OF TRUST N
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<br /> THIS DEED OF TRUST is made as of the day of March, 1999, by and � • y
<br /> among DOUGLAS C. LUTH and RICK S. JOHNSON, as e al tenants in common, jointly �
<br /> and severally, ("TRUSTORS") , whose mailing address is: 1905 Holland Drive, Grand •�',�-"'
<br /> Island, Nebraeka 68803; c-�
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<br /> and TICOR TITLE INSURANCE COMPANY, ("TRUSTEE") , whose mailing address is: P. O. '-,�
<br /> Box 627, Grand Island, Nebraska 68802; -
<br /> and TRANSPORTATION EQUIPMENT CO. , INC. , a Nebraska corporation, ("BENEFICIARY") ,
<br /> whose mailing address is: P.O. Box 488, Grand Island, Nebraska 68802.
<br /> FOR VALUABLE CONSIDERATION, Trustors irrevocably transfer, convey, and
<br /> assign to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br /> Beneficiary, under and subject to the terms and conditions of this Deed of Trust,
<br /> the real property located in the City of Grand Island, County of Hall, State of
<br /> Nebraska, and legally described as follows: (the "Property") :
<br /> Lot Fourteen (14) Mehring and Giesenhagen Second Subdivision, a
<br /> replat of Lot Two (2) Mehring and Giesenhagen Subdivision, Hall
<br /> County, Nebraska, excepting a certain tract of land more
<br /> particularly deacribed as follows:
<br /> A tract of land comprising part of Lots Twelve (12) thru Twenty
<br /> (20) , inclusive, Mehring and Giesenhagen Second Subdivision, more
<br /> particularly described as follows: Beginning at the Southeast
<br /> corner of said Lot Twelve (12) ; thence Northwesterly along the
<br /> Easterly line of said Lots Twelve (12) thru Twenty (20) , inclu$ive,
<br /> to the intersection with a line Thirty (30.0) feet South of and
<br /> parallel to the North line of said Lot Twenty (20) ; thence Westerly
<br /> along a line Thirty (30.0) feet South of and parallel to said North
<br /> line of Lot Twenty (20) , a distance of Forty-three and Forty-two
<br /> Hundredths (43.42) feet; thence southeasterly along a line Forty-two
<br /> and Seventy-eight Hundredths (42.78) feet Southwesterly from and
<br /> parallel to said Easterly line of Lots Twelve (12) thru Twenty (20) ,
<br /> inclusive, to the intersection with the South line of said Lot
<br /> Twelve (12) ; thence Easterly along said South line of Lot Twelve
<br /> (12) , a distance of Forty-three and Forty-two Hundredths (43.42)
<br /> feet to the place of beginning.
<br /> AND
<br /> A tract of land comprising a part of the West Half of the Northeast
<br /> Quarter (W'�NE'�) of Section Fifteen (15) , Township Eleven (11) North,
<br /> Range Nine (9) West of the 6th P.M. in Grand Island, Hall County,
<br /> Nebraska, more particularly described as follows: Beginning at the
<br /> Northeast corner of said Weat Half of the Northeast Quarter (W�NE�) ;
<br /> thence Southerly along the East line of said West half of the
<br /> Northeast Quarter (W�NE�) , a distance of Six Hundred Thirty-two and
<br /> Three Hundredths (632.03) feet to the Southeasterly right-of-way
<br /> line of U.S. Highway No. 30; thence deflecting right 64°30'20" and
<br /> running Southwesterly along said right-of-way line, a distance of
<br /> Eighty-eight and Sixty-four Hundredths (88.64) feet to the ACTUAL
<br /> place of beginning; thence continuing Southwesterly along the last
<br /> described course, a distance of One Hundred Forty-six and Ninety-
<br /> seven Hundredths (146.97) feet; thence deflecting left 58°08'32" and
<br /> running Southwesterly, a distance of One Hundred fourteen and Four
<br /> Tenths (114.4) feet to a point of curvature; thence running
<br /> Southwesterly along the arc of a curve whose radius is 756 feet (the
<br /> long chord of which deflects left 03°10'54" from the last described
<br /> course) a long chord distance of Eighty-three and Ninety-six
<br /> Hundredths (83.96) feet; thence deflecting left 03°10'S4" from the
<br /> long chord of the last described curve and running Southerly, a
<br /> distance of Three Hundred Forty-four and Sixty-two Hundredths
<br /> (344.62) feet; thence deflecting left 90°00' and running Easterly,
<br /> a distance of One Hundred Fifty (150.0) feet; thence deflecting left
<br /> 90°00' and running northerly, a distance of Six Hundred Five (605.0)
<br /> feet to the ACTUAL place of beginning.
<br /> TOGETHER WITH all rents, easements, appurtenances, hereditaments, interests
<br /> in adjoining roads, streets and alleys, improvements and buildings of any kind
<br />
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