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(This instrument also constitutes a real estate mortgage upon certain easement rights of Central.
<br />Community College Facilities Corporation and a security agreement under the Nebraska Uniform
<br />Commercial Code with respect to certain property of said Corporation which constitutes fixtures and M�
<br />is to be filed as a Uniform Commercial Code Financing Statement in the real estate records of Hall
<br />County, Nebraska. This instrument also constitutes a Construction Security Agreement as defined in
<br />the Nebraska Construction Lien Act, Sections 52 -125 to 52 -159, R.R.S. Neb. 1998, as amended, and
<br />secures an obligation of the Central Community College Facilities Corporation incurred for the
<br />purpose of making improvements of the real estate described herein.)
<br />THIS TRUST INDENTURE AND SECURITY AGREEMENT, made and entered into as of the
<br />first day of April, 2004, by and between CENTRAL COMMUNITY COLLEGE FACILITIES
<br />CORPORATION, a not - for - profit corporation organized and existing under the laws of the State of Nebraska
<br />(hereinafter sometimes referred to as "Lessor" and sometimes as "Corporation "), and WELLS FARGO
<br />BANK, NATIONAL ASSOCIATION, a national banking association duly organized and existing under the
<br />laws of the United States of America and authorized to accept, administer and execute trusts of the character
<br />herein set out, with its designated trust office and post office address in Lincoln, Nebraska, as Trustee
<br />(hereinafter sometimes referred to as the "Trustee ").
<br />WITNESSETH:
<br />WHEREAS, the Corporation, as Vendor, has entered into a Contract for Purchase, also dated as of
<br />April 1, 2004, with Central Community College Area, in the State of Nebraska (hereinafter sometimes
<br />referred to as the "College "), as Purchaser, under which the Corporation has conditionally sold (and leased to
<br />the extent therein provided) to the College the Project as defined in Article I hereof and described in greater
<br />detail on Exhibit "A" hereto attached;
<br />WHEREAS, in order to obtain funds for the construction and acquisition of the Project, it is
<br />necessary for the Corporation to issue its Building and Equipment Bonds (Grand Island Distance Learning
<br />Project), Series 2004, in the aggregate principal amount of Eight Hundred Eighty Thousand Dollars
<br />($880,000), said Bonds to be paid out of and secured by a pledge of the payments to become due under said
<br />Contract for Purchase and the Trustee has agreed to act as Trustee under this Trust Indenture and Security
<br />Agreement for the holders of the Bonds issued as hereinafter provided;
<br />WHEREAS, this Trust Indenture and Security Agreement shall also constitute a real estate mortgage
<br />upon the interest of the Corporation in the real estate described in Exhibit "A" attached hereto for the purpose
<br />of securing the Bonds herein authorized;
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<br />TRUST INDENTURE
<br />AND SECURITY AGREEMENT
<br />(This instrument also constitutes a real estate mortgage upon certain easement rights of Central.
<br />Community College Facilities Corporation and a security agreement under the Nebraska Uniform
<br />Commercial Code with respect to certain property of said Corporation which constitutes fixtures and M�
<br />is to be filed as a Uniform Commercial Code Financing Statement in the real estate records of Hall
<br />County, Nebraska. This instrument also constitutes a Construction Security Agreement as defined in
<br />the Nebraska Construction Lien Act, Sections 52 -125 to 52 -159, R.R.S. Neb. 1998, as amended, and
<br />secures an obligation of the Central Community College Facilities Corporation incurred for the
<br />purpose of making improvements of the real estate described herein.)
<br />THIS TRUST INDENTURE AND SECURITY AGREEMENT, made and entered into as of the
<br />first day of April, 2004, by and between CENTRAL COMMUNITY COLLEGE FACILITIES
<br />CORPORATION, a not - for - profit corporation organized and existing under the laws of the State of Nebraska
<br />(hereinafter sometimes referred to as "Lessor" and sometimes as "Corporation "), and WELLS FARGO
<br />BANK, NATIONAL ASSOCIATION, a national banking association duly organized and existing under the
<br />laws of the United States of America and authorized to accept, administer and execute trusts of the character
<br />herein set out, with its designated trust office and post office address in Lincoln, Nebraska, as Trustee
<br />(hereinafter sometimes referred to as the "Trustee ").
<br />WITNESSETH:
<br />WHEREAS, the Corporation, as Vendor, has entered into a Contract for Purchase, also dated as of
<br />April 1, 2004, with Central Community College Area, in the State of Nebraska (hereinafter sometimes
<br />referred to as the "College "), as Purchaser, under which the Corporation has conditionally sold (and leased to
<br />the extent therein provided) to the College the Project as defined in Article I hereof and described in greater
<br />detail on Exhibit "A" hereto attached;
<br />WHEREAS, in order to obtain funds for the construction and acquisition of the Project, it is
<br />necessary for the Corporation to issue its Building and Equipment Bonds (Grand Island Distance Learning
<br />Project), Series 2004, in the aggregate principal amount of Eight Hundred Eighty Thousand Dollars
<br />($880,000), said Bonds to be paid out of and secured by a pledge of the payments to become due under said
<br />Contract for Purchase and the Trustee has agreed to act as Trustee under this Trust Indenture and Security
<br />Agreement for the holders of the Bonds issued as hereinafter provided;
<br />WHEREAS, this Trust Indenture and Security Agreement shall also constitute a real estate mortgage
<br />upon the interest of the Corporation in the real estate described in Exhibit "A" attached hereto for the purpose
<br />of securing the Bonds herein authorized;
<br />
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