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<br />DEED OF TRUST
<br />This DEED OF TRUST is made as of the 19a' day of July, 2004 by and among the Trustor, J.A.A. Real
<br />Estate, L.L.C., whose mailing address for purposes of this Deed of Trust is PO Box 5406 Grand Island, NE 68802-
<br />5406 (herein, "Trustor ", whether one or more), the Trustee, AREND R. BAACK, Attorney at Law, a member of the
<br />Nebraska State Bar Association, whose mailing address is P. O. Box 790, Grand Island, NE 68802 -0790 (herein
<br />"Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to J.A.A.
<br />Real Estate, L.L.C. (herein "Borrower ", whether one or more), and the trust herein created, the receipt of which is
<br />hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and conditions
<br />hereinafter set forth, legally described as follows:
<br />BLOCKS ONE (1) AND TWO (2), BELLWOOD SUBDIVISION, CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA, TOGETHER WITH A PERMANENT AND PERPETUAL
<br />EASEMENT AND RIGHT -OF -WAY TO OPERATE, CONSTRUCT, MAINTAIN, EXTEND,
<br />REPAIR, REMOVE AND REPLACE A SANITARY SEWER LINE, MANHOLES, SURFACE
<br />MARKERS AND OTHER APPURTENANCES UPON, OVER, IN AND THROUGH A TRACT
<br />OF LAND MORE PARTICULARLY DESCIBED AS FOLLOWS: THE NORTH 16 FEET OF
<br />THE WEST 130 FEET OF LOT 1 AND THE NORTH 8 FEET OF THE EAST 143 FEET OF
<br />THE WEST 273 FEET OF LOT 1, ALL IN BURCH SUBDIVISION TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA, TOGETHER WITH THE RIGHTS OF
<br />UNRESTRICTED INGRESS AND EGRESS UNDER, THROUGH AND ACROSS THE
<br />EASEMENT AREA HEREIN DEFINED FOR THE PURPOSE OF EXERCISING THE
<br />RIGHTS HEREIN GRANTED, INCLUDING THE RIGHT TO CLEAR AND KEEP CLEAR OF
<br />TREES, ROOTS, BRUSH AND OTHER OBSTRUCTIONS FROM THE SURFACE OF SUCH
<br />EASEMENT AREA.
<br />LOTS ONE (1), TWO (2), THREE (3), FOUR (4) AND FIVE (5), INCLUSIVE, REED'S
<br />SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA,
<br />TOGETHER WITH ALL THE RIGHTS AND PRIVLEGES GRANTED UNDER ONE
<br />CERTAIN LICENSE AND EASEMENT AGREEMENT RECORDED IN THE OFFICE OF
<br />THE REGISTER OF DEEDS OFFICE FOR HALL COUNTY, NEBRASKA ON APRIL 13,
<br />1972 IN BOOK 23, MISCELLANEOUS RECORDS,AT PAGE 29;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />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 Universal
<br />Note dated July 19, 2004, having a maturity date of July 19, 2005, in the original principal amount of Three Hundred
<br />Thousand and 00 /100 Dollars ($300,000.00), and any and all modifications, extensions and renewals thereof or
<br />thereto and any and all future advances and re- advances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums
<br />advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if
<br />more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or
<br />otherwise executed in connection therewith, including without limitation guarantees, security agreements and assign-
<br />ments of leases and rents, shall be referred to herein as the "Loan Instruments ".
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<br />This DEED OF TRUST is made as of the 19a' day of July, 2004 by and among the Trustor, J.A.A. Real
<br />Estate, L.L.C., whose mailing address for purposes of this Deed of Trust is PO Box 5406 Grand Island, NE 68802-
<br />5406 (herein, "Trustor ", whether one or more), the Trustee, AREND R. BAACK, Attorney at Law, a member of the
<br />Nebraska State Bar Association, whose mailing address is P. O. Box 790, Grand Island, NE 68802 -0790 (herein
<br />"Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND
<br />ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to J.A.A.
<br />Real Estate, L.L.C. (herein "Borrower ", whether one or more), and the trust herein created, the receipt of which is
<br />hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and conditions
<br />hereinafter set forth, legally described as follows:
<br />BLOCKS ONE (1) AND TWO (2), BELLWOOD SUBDIVISION, CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA, TOGETHER WITH A PERMANENT AND PERPETUAL
<br />EASEMENT AND RIGHT -OF -WAY TO OPERATE, CONSTRUCT, MAINTAIN, EXTEND,
<br />REPAIR, REMOVE AND REPLACE A SANITARY SEWER LINE, MANHOLES, SURFACE
<br />MARKERS AND OTHER APPURTENANCES UPON, OVER, IN AND THROUGH A TRACT
<br />OF LAND MORE PARTICULARLY DESCIBED AS FOLLOWS: THE NORTH 16 FEET OF
<br />THE WEST 130 FEET OF LOT 1 AND THE NORTH 8 FEET OF THE EAST 143 FEET OF
<br />THE WEST 273 FEET OF LOT 1, ALL IN BURCH SUBDIVISION TO THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA, TOGETHER WITH THE RIGHTS OF
<br />UNRESTRICTED INGRESS AND EGRESS UNDER, THROUGH AND ACROSS THE
<br />EASEMENT AREA HEREIN DEFINED FOR THE PURPOSE OF EXERCISING THE
<br />RIGHTS HEREIN GRANTED, INCLUDING THE RIGHT TO CLEAR AND KEEP CLEAR OF
<br />TREES, ROOTS, BRUSH AND OTHER OBSTRUCTIONS FROM THE SURFACE OF SUCH
<br />EASEMENT AREA.
<br />LOTS ONE (1), TWO (2), THREE (3), FOUR (4) AND FIVE (5), INCLUSIVE, REED'S
<br />SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA,
<br />TOGETHER WITH ALL THE RIGHTS AND PRIVLEGES GRANTED UNDER ONE
<br />CERTAIN LICENSE AND EASEMENT AGREEMENT RECORDED IN THE OFFICE OF
<br />THE REGISTER OF DEEDS OFFICE FOR HALL COUNTY, NEBRASKA ON APRIL 13,
<br />1972 IN BOOK 23, MISCELLANEOUS RECORDS,AT PAGE 29;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />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 Universal
<br />Note dated July 19, 2004, having a maturity date of July 19, 2005, in the original principal amount of Three Hundred
<br />Thousand and 00 /100 Dollars ($300,000.00), and any and all modifications, extensions and renewals thereof or
<br />thereto and any and all future advances and re- advances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums
<br />advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if
<br />more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or
<br />otherwise executed in connection therewith, including without limitation guarantees, security agreements and assign-
<br />ments of leases and rents, shall be referred to herein as the "Loan Instruments ".
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