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<br />DEED of rxusT
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<br />This DEED OF TRUST is made as of the 27th day of December, 2002 by and among the
<br />Trustor, GRAND ISLAND COMMERCIAL VENTURES, L.L.C., a Nebraska limited liability `�-
<br />company, whose mailing address for purposes of this Deed of Trust is 429 Industrial Lane,
<br />Grand Island, NE 68803 (herein "Truster", whether one or more); the Trustee, AREND R.
<br />BAACK, Attorney at Law, whose mailing address is P: O. Box 790, Grand Island, NE 68802-
<br />0790 (herein ' "Trustee "); and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN `
<br />ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand Island,
<br />NF. 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to GRAND ISLAND COMMERCIAL VENTURES, L.L.C. (herein "Borrower ", whether
<br />one or more), and the trust herein created, the receipt of which is hereby acknowledged, Truster
<br />hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER
<br />OF SATE, for the benefit and security of Lender, under and subject to the terms and conditions
<br />hereinafter set forth, legally described as follows:
<br />PARCELI:
<br />A TRACT OF LAND COMPRISING A PART OF LOTS 1, 2, 3, 7, AND 10,
<br />AND TIIAT PART OF THE VACATED ALLEY ADJACENT THERETO, ALL
<br />IN COMMERCIAL INDUSTRIAL PARK SUBDIVISION OF PART OF
<br />BLOCK 1, NELSEN SUBDIVISION, CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA, AND MORE PARTICULARLY DESCRIBED AS
<br />FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 1;
<br />THENCE RUNNING SOUTH ALONG THE W EST LINE OF SAID LOTS 1
<br />AND 7, A DISTANCE OF 719.83 FEET TO A POINT THAT IS 37.6 FEET
<br />NORTH Of TIIE SOUTHWEST CORNER OF SAID LOT 7;4 HENCE
<br />RUNNING EAST, PARALLEL TO THE SOUTH LINE OF SAID LOT 7, A
<br />DISTANCE OF 504.0 FEET TO A POINT 4.0 FEET EAST OF'FHE EAST'
<br />LINE OF SAID LO'F 7; 'THENCE RUNNING NORTH PARALLEL TO THE
<br />WEST LINE OF SAID LOTS 1 AND 7, A DISTANCE OF 344.1 FEET;
<br />THENCE RUNNING WEST, PARALLEL TO THE SOUTH LINE OF SAID
<br />LOT 7, A DISTANCE OF 60.0 FEET; THENCE RUNNING NORTH,
<br />PARALLEL TO THE WEST LINE OF SAID LOT 1, A DISTANCE OF 410.0
<br />FEET TO A POINT ON THE NORTHERLY LINE OF SAID LOT 3; THENCE
<br />RUNNING SOUTHWESTERLY ALONG THE NORTII LINE OF SAID LOTS
<br />3, 2, AND 1, A DISTANCE OF 445.31 FEET TO'1'HE POINT OF
<br />BEGINNING; EXCEPT THAT PART OF LOT 1, COMMERCIAL
<br />INDUSTRIAL PARK SUBDIVISION DESCRIBED AS FOLLOWS:
<br />REFERRING ID THE NORTHEAST CORNER OF SAID LOT; TIIENCE
<br />WESTERLYA DISTANCE OF 174.07 FEET ALONG'1'HE SOUTHERLY
<br />EXISTING HIGHWAY R1GH1 OF WAY LINE TO THE POINT OF
<br />BEGINNING; THENCE WESTERLY DEFLECTING 00 °00'00 ", A DISTANCE
<br />OF 11.93 FEET ALONG SAID RIGHT OF WAY LINE 10 A PO1N'T ON THE
<br />EASTERLY EXISTING WEBB ROAD RIGHT OF WAY LINE; THENCE
<br />SOUTHERLY DEFLECTING 85 034'14" LEFT, A DISTANCE OF 363.47 FEET
<br />ALONG SAID RIGHT OF WAY LINE; 'THENCE NORTHERLY
<br />DEFLECTING 176 050'06" LEFT, A DISTANCE OF 210.30 FEET; THENCE
<br />NORTHERLY DEFLECTING 03 °03'40" LEFT, A DISTANCE OF 154.41 FEET
<br />TO THE POINT OF BEGINNING.
<br />PARCEL 2:
<br />'THE SOUTHERLY 37.6 FEET OF LOT 7 AND THE NORTHERLY 42.4 FEE 'If
<br />OF LOT 8, ALL IN COMMERCIAL INDUS 'I R1AL PARK SUBDIVISION OF
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