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, � . � 99�10�08 �
<br /> "� � DEED OF TRUST WITH FUTURE ADVAN�E�'
<br /> � �. >.
<br /> THIS DEED OF TRUST, is made as of the 20th day of April , 1999 , by and among tti'e '� "
<br /> Trustor, Nebraska Transport Co. , Inc.
<br /> �
<br /> whose mailing address is P.O. Box 1646 Scottsbluff, Nebraska 69363-1646 (herein "Trustor," whether
<br /> one or more), the Trustee, Platte Valley National Bank
<br /> whose mailing address is P•0. Box 2308 Scottsbluff, Nebraska 69363-2308 (herein "Trustee"), and the Beneficiary,
<br /> Platte Valley National Bank , whose maiiing address is
<br /> P.O. Box 2308 Scottsbluff, Nebraska 69363-2308 (herein "�ender.").
<br /> FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Nebraska Transport
<br /> Co. Inc.
<br /> (herein "Borrower", whether one or more) and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby
<br /> irrevocably grents, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender,
<br /> under and subject to the terms and conditions hereinafter set forth, the real property, described as follows:
<br /> Lot Twenty-two (22) , Wildwood Subdivision, Hall County, Nebraska,
<br /> subject to easements, restriction, reservations, and rights-of-way
<br /> apparent or of record.
<br /> Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances located
<br /> thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such personal property
<br /> that is attached to the improvements so as to constitute a fixture, inciuding, but not limited to, heating and cooling equipment; and together
<br /> with the homestead or maritai interests, if any, which interests are hereby released and waived; all of which, inciuding replacements and
<br /> additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being �
<br /> referred to herein as the "Property".
<br /> This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit agreement
<br /> dated April 20, 1999 , having a maturity date of April 10, 2004 , in the original principal amount of
<br /> $3,848,625.,C�d any and all modifications, extensions and renewals thereof or thereto and any and all future advances and readvances
<br /> to Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes or credit agreements (herein celled
<br /> "Note"); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the per(ormance of all covenants and
<br /> agreements of Trustor set forth herein; and (d) all present and future indebtedness and obiigations of Dorrower (or any of them if more than
<br /> one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdrait or otherwise. The Note, this
<br /> Deed of Trust and any and all other documents that secure the Note or othervvise executed in connection therewith, including without
<br /> limitation guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments".
<br /> Trustor covenants and agrees with Lender as follows:
<br /> �. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br /> 2. Tltle. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that fhe lien created .
<br /> hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to Lender
<br /> before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation
<br /> to which Trustor is subject.
<br /> a. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now
<br /> or hereafter levied.
<br /> a. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage", and such
<br /> other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional named insured, .
<br /> with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, coilect and compromise, all claims
<br /> thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such
<br /> order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property or (iii) for any other purpose or
<br /> object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever
<br /> took place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure
<br /> any default thereunder or hereunder.
<br /> 5. ESCI'OW. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender maq designate, sufficient sums to
<br /> enable Lender to pay as they become due one or more of the foilowing; (i) all taxes, assessments and other charges against the Property, (ii)
<br /> the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender.
<br /> s. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br /> promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of
<br /> the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer or permit any
<br /> act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Trustor's
<br /> cost and expense all iiens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof. '
<br /> �. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter
<br /> "Proceeds") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemnation.
<br /> Lender shali be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also be
<br /> entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is so
<br /> taken or damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all
<br /> costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender
<br /> may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may .
<br /> determine. Any application of Proceeds to indebtedness shatt not extend or postpone the due date of any payments under the Note, or cure
<br /> any default thereunder or hereunder. Any unapplied funds shall be paid to Trustor.
<br /> F7327.LMQ(7/95) Page 7 of 4
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