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<br /> DEED OF TRUST
<br /> This DEED OF TRUST is made as of the l Oth day of August, 1999 by and among
<br /> the Trustor, MCCLOUD SUPER 8 MOTEL, INC., a Nebraska corporation, whose mail-
<br /> ing address for purposes of this Deed of Trust is 2603 S. Locust Street, Grand Island, NE
<br /> 68801 (herein, "Trustor", whether one or more), the Trustee, THE OVERLAND
<br /> NATIONAL BANK OF GRAND ISLAND, whose mailing address is P. O. Box 1688,
<br /> Grand Island, NE 68802-1688 (herein "Trustee"), and the Beneficiary, THE � � I
<br /> OVERLAND NATIONAL BANK OF GRAND ISLAND, whose mailing address is P. �
<br /> O. Box 1688, Grand Island,NE 68802-1688 (herein "Lender").
<br /> FOR VALUABLE CONSIDERATION, including Lender's extension of credit
<br /> identified herein to MCCLOUD SUPER 8 MOTEL, INC. (herein "Borrower", whether
<br /> one or more), and the trust herein created, the receipt of which is hereby acknowledged,
<br /> Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST,
<br /> WITH POWER OF SALE, for the benefit and security of Lender, under and subject to
<br /> the terms and conditions hereinafter set forth, legally described as follows:
<br /> A tract of land comprising a part of Lot Twenty-Five (25), Matthew's
<br /> Subdivision in the City of Grand Island, Hall County, Nebraska, more
<br /> particularly described as follows: Beginning at the northwest corner of
<br /> said Lot Twenty-Five (25); thence easterly along the north line of said Lot
<br /> Twenty-Five (25), a distance of Eight Hundred Twenty-Two and Forty-
<br /> Eight Hundredths (822.48) feet, to the northeast corner of said Lot
<br /> Twenty-Five (25); thence southerly along the east line of said Lot Twenty-
<br /> Five (25); a distance of Three Hundred Twenty-Four and Sixty-Five Hun-
<br /> dredths (324.65) feet, to the centerline of Wood River; thence deflecting
<br /> right 23°55'S0" and running southwesterly along said centerline of Wood
<br /> River, a distance of Ninety-Eight and Four Tenths (98.4) feet; thence
<br /> deflecting right 63°39'10" and running westerly, a distance of Four Hun-
<br /> dred Seventeen and Thirty-Three Hundredths (417.33) feet; thence deflect-
<br /> ing right 91°53' and running northerly, a distance of One Hundred Sixty-
<br /> Eight and Twenty-One Hundredths (168.21) feet, thence deflecting left
<br /> 90°O1'S0" and ruruiing westerly, a distance of Three Hundred Sixty-One
<br /> and Five Tenths (361.5) feet to the west line of said Lot Twenty-Five (25);
<br /> thence northerly along the west line of said Lot Twenty-Five (25), a dis-
<br /> tance of Two Hundred Sixty-Eight and Thirty-Three Hundredths (268.33)
<br /> feet to the place of beginning;
<br /> together with all buildings, improvements, fixtures, streets, alleys, passageways, ease-
<br /> ments, rights, privileges and appurtenances located thereon or in anywise pertaining
<br /> thereto, and the rents, issues and profits, reversions and remainders thereof, and such per-
<br /> sonal property that is attached to the improvements so as to constitute a fixture, including,
<br /> but not limited to, heating and cooling equipment and together with the homestead or
<br /> mazital interests, if any, which interests are hereby released and waived, all of which,
<br /> including replacements and additions thereto, is hereby declared to be a part of the real
<br /> estate secured by the lien of this Deed of Trust and all of the foregoing being referred to
<br /> herein as the "Property".
<br /> This Deed of Trust shall secure (a) the payment of the principal sum and interest
<br /> evidenced by a Promissory Note dated August 10, 1999, having a maturity date of August
<br /> 10, 2009, in the original principal amount of Six Hundred Thousand and No/100 Dollars
<br /> ($600,000.00), and any and all modifications, extensions and renewals thereof or thereto
<br /> and any and all future advances and readvances to Borrower (or any of them if more than
<br /> one) hereunder pursuant to one or more promissory notes or credit agreements (herein
<br /> called "Note"); (b)the payment of other sums advanced by Lender to protect the security
<br /> of the Note; (c)the performance of all covenants and agreements of Trustor set forth
<br />
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