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<br />DEED OF TRUST
<br />THIS TRUST DEED made this day of Al/
<br />2004, between FAIRVIEW LANDSCAPE, L GHTING AND DESIGN L.L.C., A
<br />Nebrasj�a Li ited iabilit '�C //om�p/a� �y%, as TRUSTOR, whose address is
<br />�Ya?3.JO��rs0 k/.+' WILLIAM A. FRANCIS, A
<br />Member of the Nebraska State Bar Association, as TRUSTEE, whose
<br />address is 222 N. Cedar Street, P. O. Box 2280, Grand Island,
<br />Nebraska 68802; and THE MEADOWS APARTMENT HOMES, L.L.C., A
<br />Nebraska Limited Liability Company, BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, its successors and assigns, with
<br />power of sale, the following- described real property:
<br />Lot Seventeen (17), Country Meadows Second Subdivision,
<br />in the City of Grand Island, Hall County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that it is lawfully seized and the owner of the above -
<br />described property; that it has good right and lawful authority to
<br />sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances except for a first mortgage
<br />construction loan, and further, that TRUSTOR will warrant and
<br />defend the title to said premises forever against the claims of all
<br />persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -FIVE THOUSAND
<br />DOLLARS ($25,000.00), the TRUSTOR has executed a Promissory Note
<br />bearing even date, at the rate of interest and on the terms and
<br />conditions as set forth in such Note until paid. The Promissory
<br />Note shall become due and payable on July 1, 2004, or upon sale of
<br />the above - described real estate pursuant to the terms and
<br />conditions of the Promissory Note.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and al]. special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />---?0- -50
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
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<br />DEED OF TRUST
<br />THIS TRUST DEED made this day of Al/
<br />2004, between FAIRVIEW LANDSCAPE, L GHTING AND DESIGN L.L.C., A
<br />Nebrasj�a Li ited iabilit '�C //om�p/a� �y%, as TRUSTOR, whose address is
<br />�Ya?3.JO��rs0 k/.+' WILLIAM A. FRANCIS, A
<br />Member of the Nebraska State Bar Association, as TRUSTEE, whose
<br />address is 222 N. Cedar Street, P. O. Box 2280, Grand Island,
<br />Nebraska 68802; and THE MEADOWS APARTMENT HOMES, L.L.C., A
<br />Nebraska Limited Liability Company, BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, its successors and assigns, with
<br />power of sale, the following- described real property:
<br />Lot Seventeen (17), Country Meadows Second Subdivision,
<br />in the City of Grand Island, Hall County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that it is lawfully seized and the owner of the above -
<br />described property; that it has good right and lawful authority to
<br />sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances except for a first mortgage
<br />construction loan, and further, that TRUSTOR will warrant and
<br />defend the title to said premises forever against the claims of all
<br />persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -FIVE THOUSAND
<br />DOLLARS ($25,000.00), the TRUSTOR has executed a Promissory Note
<br />bearing even date, at the rate of interest and on the terms and
<br />conditions as set forth in such Note until paid. The Promissory
<br />Note shall become due and payable on July 1, 2004, or upon sale of
<br />the above - described real estate pursuant to the terms and
<br />conditions of the Promissory Note.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and al]. special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />---?0- -50
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
<br />
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