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<br />a o w c -r
<br />` - d U p `se
<br />U U
<br />DEED OF TRUST
<br />THIS DEED OF TRUST (the "Deed of Trust "), is made this 10's day of January 2003, by and
<br />fJ between SHAFER PROPERTIES LLC, a Nebraska limited liability company ( "Trustor "), whose
<br />mailing address is 1004 Diets Avenue, Suite 300, Grand Island, Nebraska 68803, JENNIFER J.
<br />° STRAND, ESQ. ( "Trustee "), whose address is c/o Woods & Aitken LLP, 301 South 13th Street,
<br />Suite 500, Lincoln, Nebraska 68508, acrd WEST POINT, L.L.C., a Nebraska limited liability
<br />company ( "Beneficiary"), its successors and assigns, whose mailing address is c/o Boyd Batterman,
<br />3730 South 14th Street, Lincoln, Nebraska 68502.
<br />RECITALS
<br />WHEREAS, pursuant to the terms and conditions of the Real Estate Purchase Agreement
<br />dated October 15, 2002, by and between Trustor and Beneficiary (the 'Purchase Agreement'),
<br />Beneficiary has agreed to loan to Trustor in immediately available funds the slim of Two hundred
<br />Fifty Eight Thousand Five Hundred Forty Three and 83 /100ths Dollars ($258,543.83) (the "Principal
<br />Amount ") pursuant to the terms and provisions thereof, and
<br />WHEREAS, Trustor has agreed to transfer the Trust Estate (as hereinafler defined) to "trustee
<br />in trust to secure the Obligations (as hereinafter defined) in accordance with the terms and conditions
<br />set forth herein.
<br />NOW, THEREFORE, in consideration of the foregoing and other good and valuable
<br />consideration, including the indebtedness identified above and the trust created herein, the receipt
<br />and adequacy of which are hereby acknowledged, and intending to be legally bound, Trustor
<br />irrevocably GRANTS, BARGAINS, SELLS, TRANSFERS, CONVEYS and ASSIGNS to Trustee,
<br />IN TRUST, WITII POWER OF SALE, for the benefit and security of Beneficiary, under and subject
<br />to the terms and conditions of this Deed of Trust, thereat property described on Exhibit "A" attached
<br />hereto (the "Property ").
<br />TOG ETH ER WITH the to] lowing, whether existing now or hereafter entered into or acq in rat
<br />by Trustor:
<br />(a) all interests, estate or other claims, both in law and in equity, in the Property or
<br />any portion thereof,
<br />(b) all easements, rights- of-way, tenements, hereditaments and appurtenances of
<br />and to the Property or any per thereof;
<br />W/ c"c
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