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<br />GRAND ISLAND P H, INC., a Nebraska corporation, GRANTOR, in partial
<br />consideration of the issuance of 1,000 Class A Membership Units does grant, bargain, sell,
<br />convey and confirm unto GIPH RESTAURANTS, L.L.C., a Nebraska limited liability company,
<br />GRANTEE, the following described real estate (as defined in Neb.Rev.Stat. 76 -201) in Hall
<br />County, Nebraska:
<br />Lot One (1), Block One (1), Crane Valley Subdivision, in the City of Grand
<br />Island, Hall County, Nebraska;
<br />Part of Fractional Lot Three (3), Block Twenty (20), in Arnold & Abbott's
<br />Addition to the City of Grand Island, Hall County, Nebraska as shown by the
<br />recorded plat thereto described as follows, to -wit: Commencing at the
<br />Northeasterly corner of said Fractional Lot Three (3), running in a Westerly
<br />direction along the Northerly line of the said Fractional Lot Three (3), Sixty (60')
<br />feet on the line parallel with the Southerly line of Second Street, thence in a
<br />Southerly direction on a line parallel with the Easterly line of the said Fractional
<br />Lot to where it crosses the North line of the Southeast Quarter of the Southwest
<br />Quarter (SE' /4SW' /4) of Section Sixteen (16), Township Eleven (11) North, Range
<br />Nine (9) West of the 6th P.M.; thence East along the said North line of the said
<br />Quarter Section to the Easterly side of the said Fractional Lot, thence in a
<br />Northerly direction along the Easterly line of the said Fractional Lot to the place
<br />of beginning together with the following described property: Commencing at a
<br />point on the East line of Fractional Lot Three (3), in said Block Twenty (20), in
<br />Arnold & Abbott's Addition to the Grand Island, Hall County, Nebraska, where
<br />Abbott's Addition to Grand island, Hall County, Nebraska, where said line
<br />crosses the North line of the Southeast Quarter of the Southwest Quarter
<br />(SE' /4SW' /4) of Section Sixteen (16), in Township Eleven (11) North, Range Nine
<br />(9) West of the 6th P.M., thence in a Southeasterly direction on a line parallel
<br />with the said West line of the said Block Twenty (20), Six (6') feet, the same
<br />being a continuation of said East line of said Fractional Lot Three (3), in said
<br />Block Twenty (20) without change of direction, thence in a Southwesterly
<br />direction on a parallel line with the North line of the said Block Twenty (20),
<br />Sixty (60') feet; thence in a Northwesterly direction on a line parallel with the
<br />East line of the said Fractional Lot Three (3) to a point Six (6') feet East of where
<br />the West line of the said Lot Three (3), in said Block Twenty (20) crosses said
<br />North line of the Southeast Quarter of the Southwest Quarter (SE' /4SW' /4) of
<br />Section Sixteen (16), Township Eleven (11) North, Range Nine (9) West of the
<br />6th P.M.; thence East along and upon said North line of the said Southeast
<br />Quarter of the Northwest Quarter (SE' /4NW' /4) of Section Sixteen (16), Township
<br />Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska
<br />to the place of beginning; and
<br />The Westerly Six (6) Feet of Lot Three (3), and all of Lot Four (4), in Block
<br />Twenty (20), in Arnold & Abbott's Addition to the City of Grand Island, Hall
<br />County, Nebraska and its complement being part of Lot Four (4) of County
<br />Subdivision of the Southeast Quarter of the Southwest Quarter (SEl /4SW1 /4) of
<br />Section Sixteen (16), Township Eleven (11) North, Range Nine (9), West of the
<br />6th P.M. in Hall County, Nebraska, more particularly described as: Commencing
<br />at the northwesterly corner of said Lot Four (4), of said County Subdivision,
<br />running thence southerly along the westerly line thereof Eighty -Six and One -Half
<br />(86 1/2') feet to the southwesterly corner thereof, thence easterly along the
<br />southerly line thereof Seventy -Two (72') feet, thence northerly on a line parallel
<br />with said easterly line thereof to the north line thereof, and thence west along said
<br />north line to the place of beginning.
<br />GRANTOR covenants with the GRANTEE that GRANTOR:
<br />(1) is lawfully seised of such real estate and that it is free from encumbrances, except
<br />liens, easements and restrictions of record, it being understood that GRANTEE shall accept the
<br />same subject to any such lien, easement or restriction of record and perform all obligations in
<br />respect thereto;
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<br />GRAND ISLAND P H, INC., a Nebraska corporation, GRANTOR, in partial
<br />consideration of the issuance of 1,000 Class A Membership Units does grant, bargain, sell,
<br />convey and confirm unto GIPH RESTAURANTS, L.L.C., a Nebraska limited liability company,
<br />GRANTEE, the following described real estate (as defined in Neb.Rev.Stat. 76 -201) in Hall
<br />County, Nebraska:
<br />Lot One (1), Block One (1), Crane Valley Subdivision, in the City of Grand
<br />Island, Hall County, Nebraska;
<br />Part of Fractional Lot Three (3), Block Twenty (20), in Arnold & Abbott's
<br />Addition to the City of Grand Island, Hall County, Nebraska as shown by the
<br />recorded plat thereto described as follows, to -wit: Commencing at the
<br />Northeasterly corner of said Fractional Lot Three (3), running in a Westerly
<br />direction along the Northerly line of the said Fractional Lot Three (3), Sixty (60')
<br />feet on the line parallel with the Southerly line of Second Street, thence in a
<br />Southerly direction on a line parallel with the Easterly line of the said Fractional
<br />Lot to where it crosses the North line of the Southeast Quarter of the Southwest
<br />Quarter (SE' /4SW' /4) of Section Sixteen (16), Township Eleven (11) North, Range
<br />Nine (9) West of the 6th P.M.; thence East along the said North line of the said
<br />Quarter Section to the Easterly side of the said Fractional Lot, thence in a
<br />Northerly direction along the Easterly line of the said Fractional Lot to the place
<br />of beginning together with the following described property: Commencing at a
<br />point on the East line of Fractional Lot Three (3), in said Block Twenty (20), in
<br />Arnold & Abbott's Addition to the Grand Island, Hall County, Nebraska, where
<br />Abbott's Addition to Grand island, Hall County, Nebraska, where said line
<br />crosses the North line of the Southeast Quarter of the Southwest Quarter
<br />(SE' /4SW' /4) of Section Sixteen (16), in Township Eleven (11) North, Range Nine
<br />(9) West of the 6th P.M., thence in a Southeasterly direction on a line parallel
<br />with the said West line of the said Block Twenty (20), Six (6') feet, the same
<br />being a continuation of said East line of said Fractional Lot Three (3), in said
<br />Block Twenty (20) without change of direction, thence in a Southwesterly
<br />direction on a parallel line with the North line of the said Block Twenty (20),
<br />Sixty (60') feet; thence in a Northwesterly direction on a line parallel with the
<br />East line of the said Fractional Lot Three (3) to a point Six (6') feet East of where
<br />the West line of the said Lot Three (3), in said Block Twenty (20) crosses said
<br />North line of the Southeast Quarter of the Southwest Quarter (SE' /4SW' /4) of
<br />Section Sixteen (16), Township Eleven (11) North, Range Nine (9) West of the
<br />6th P.M.; thence East along and upon said North line of the said Southeast
<br />Quarter of the Northwest Quarter (SE' /4NW' /4) of Section Sixteen (16), Township
<br />Eleven (11) North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska
<br />to the place of beginning; and
<br />The Westerly Six (6) Feet of Lot Three (3), and all of Lot Four (4), in Block
<br />Twenty (20), in Arnold & Abbott's Addition to the City of Grand Island, Hall
<br />County, Nebraska and its complement being part of Lot Four (4) of County
<br />Subdivision of the Southeast Quarter of the Southwest Quarter (SEl /4SW1 /4) of
<br />Section Sixteen (16), Township Eleven (11) North, Range Nine (9), West of the
<br />6th P.M. in Hall County, Nebraska, more particularly described as: Commencing
<br />at the northwesterly corner of said Lot Four (4), of said County Subdivision,
<br />running thence southerly along the westerly line thereof Eighty -Six and One -Half
<br />(86 1/2') feet to the southwesterly corner thereof, thence easterly along the
<br />southerly line thereof Seventy -Two (72') feet, thence northerly on a line parallel
<br />with said easterly line thereof to the north line thereof, and thence west along said
<br />north line to the place of beginning.
<br />GRANTOR covenants with the GRANTEE that GRANTOR:
<br />(1) is lawfully seised of such real estate and that it is free from encumbrances, except
<br />liens, easements and restrictions of record, it being understood that GRANTEE shall accept the
<br />same subject to any such lien, easement or restriction of record and perform all obligations in
<br />respect thereto;
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