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<br /> RECORDATION REQUESTED BY:
<br /> Nebraska National Bank g Q f 1 O Q h ./
<br /> 3110 2nd Ave. �� 1 1 V a7 Y
<br /> P.O..BOX 397
<br /> Keam�,1►,NE sea�s-o397
<br /> ��t£�a�—
<br /> WHEN RECORDED MAIL TO:
<br />� Nebraska Natlonal Bank �
<br />� 3110 2nd Ave. /
<br /> P.O.BOX 397 ,
<br /> Keamey,NE 68848-0397 �
<br />'� �
<br /> SEND TAX NOTICES TO:
<br /> Lonn Downin�and Kay J.Downing
<br /> PO Box 733
<br /> Kearney,NE 68848
<br /> SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
<br /> DEED OF TRUS7
<br /> THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br /> WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br /> THIS DEED OF TRUST IS DATED OCTOBER 8, 1999, among Lorin Downing and Kay J. Downing, husband and
<br /> wife, whose address is PO Box 733, Kearney, NE 68848 (referred to below as "Trustor"); Nebraska Nationai
<br /> Bank, whose address is 3110 2nd Ave., P.O. BOX 397, Kearney, NE 68848-0397 (referred to below sometlmes
<br /> as "Lender" and sometimes as "Beneficiary"); and NEBRASKA NATIONAL BANK, whose address is P.O. BOX
<br /> 397 KEARNEY, NEBRASKA 68848-0397(referred to below as "Trustee").
<br /> CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee In trust, WITH POWER OF SALE, for the beneflt of
<br /> Lender as Beneflciary, ali of Trustor's right, title, and interest in and to the following described real property, together wfth all existing or
<br /> subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way,and appurtenances; all water, water rights and
<br /> ditch rights (including stock in utilities with ditch or irrigation rights);and all other rights, r�oyalties and profits relating to the real prope , including
<br /> without limitation all minerals, oil, gas, geothermal and similar matters, IOCeted 'In Hall G�OUntj/, State of Nebraska (t�e Real
<br /> Property"):
<br /> A Tract of land comprising all of Lots Forty One (41), Forty Two (42) and Forty Three (43), Excepting
<br /> Therefrom, the Northerly Twenty (20.0) feet of said Lot Forty One (41), All in Bosselman Second
<br /> Subdivision, in the City of Grand Island, Nebraska.
<br /> The Real Property or its address is commonly known as Jct Hwy 281 & Hwy 2, Grand Island, NE 68848.
<br /> Trustor presently assigns to Lender(also known as Beneficiary in this Deed of Trust)ail of Trustor's.right,title,and interest in and to all present and
<br /> future leases of the Propeiiy and all Rents from the Prope�ty:t�additlon,Trustor g�a�rRs Lender a Uniform Commercial Code security interest in the �
<br /> Rents and the Personal Property deflned below.
<br /> DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust. Terms not otherwise de8ned in this Deed of
<br /> Trust shall have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in
<br /> lawful money of the United States of America.
<br /> Beneflclary. The word"Beneficiary"means Nebraska National Bank,its successors and assigns. Nebraska National Bank also is referred to as
<br /> "Lender"in this Deed of Trust.
<br /> Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br /> assignment and security interest provisions relating to the Personai Property and Rents.
<br /> Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br /> connection with the Indebtedness.
<br /> Improvements. The word "Improvements"means and includes without limitation all existing and future improvements, buildings, structures,
<br /> mobile homes affixed on the Real Property,facilities,additions,replacements and other construction on the Real Property.
<br /> Indebtedness. The word"Indebtedness"means al�principal and interest payable under the Note and any amounts expended or advanced by
<br /> Lender to discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br /> together with interest on such amounts as provided in this Deed of Trust. In addition to the Note, the word "indebtedness" includes all
<br /> obligations,debts and liabilities,plus interest thereon,of Trustor to Lender,or any one or more of them,as well as all claims by Lender against
<br /> Trustor,or any one or more of them,whether now existing or hereafter arising,whether related or unrelated to the purpose of the Note,whether
<br /> voluntary or otherwise,whether due or not due,absolute or contingent,liquidated or unliquidated and whether Trustor may be liable individually
<br /> or jointly with others, whether obligated as guarantor or otherwise, and whether recovery upon such Indebtedness may be or hereafter may
<br /> �
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