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200300569
<br />PART OF BLOCK 1, NELSEN SUBDIVISION IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof, and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and c6nling equipment and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived, all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property ".
<br />TIIIS DEED OF ]'RUST SHALL SECURE:
<br />(a) the payment of the principal sum and interest evidenced by a Deed of
<br />Trust Note dated December 27, 2002, having a maturity date of March 1, 2018,
<br />(subject to call on March 1, 2008 and March 1, 2013), in the original principal
<br />amount of One Million and No /100 Dollars ($1,000,000.00), and any and all
<br />modifications, extensions and renewals thereof or thereto and any and all future
<br />advances and re- advances to Borrower (or any of them if more than one) here-
<br />under pursuant to one or more promissory notes or credit agreements (herein
<br />called 'Note ");
<br />(b) the payment of other sums advanced by Lender to protect the security
<br />of the Note pursuant to this Deed of Trust, together with interest at the highest
<br />rate provided in the notes secured hereby;
<br />(c) the payment of principal and interest on any future advance as may be
<br />evidenced by promissory notes stating they are secured by this Deed of Trust;
<br />provided, however, that the total principal indebtedness, not including sums
<br />advanced to protect the security or interest accrued, shall not exceed the original
<br />principal indebtedness secured hereby; and
<br />(d) the performance of all covenants and agreements of Trustor set forth
<br />herein.
<br />The Note, this Deed of Trust and any and all other documents that secure the Note or are
<br />otherwise executed in connection therewith, including, without limitation, guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan
<br />Instruments".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Pavment of Indebtedness. All indebtedness secured hereby shall be paid when due
<br />2. Title. Trustur is the owner of the Property, has the right and authority to convey the
<br />Property and warrants that the lien created hereby is a first and prior lien on the Property and the
<br />execution and delivery of this Deed of Trust does not violate any contract or other obligation to
<br />which Tnistor is subject.
<br />3. Taxes Assessments. To pay before delinquency, all taxes, special assessments and all
<br />other charges against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included
<br />within the term "extended coverage' and such other hazards as Lender may require, in amounts
<br />and with companies acceptable to Lender, naming Lender as an additional named insured, with
<br />loss payable to Lender. In case of loss under such politics, Lender is authorized to adjust, collect
<br />and compromise all claims thereunder and shall have the option of applying all or part of the
<br />insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender may
<br />determine, (ii) to Truster to be used for the repair or restoration of the Property, or (iii) for any
<br />other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for
<br />the full amount secured hereby before such payment ever took place. Any application of
<br />proceeds to indebtedness shall not extend or postpone the due date of any payments under the
<br />Note, or cure any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, Truster shall pay to lender, in such
<br />manner as Lender may designate, sufficient sums to enable Lender to pay as they become due,
<br />one or more of the following: (i) all taxes, assessments and other charges against the Property;
<br />(ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any
<br />mortgage insurance required by Lender.
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