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<br />200301427 DEED OF TRUST
<br />Loan # 805005
<br />This DEED OF TRUST is made as of the 5th day of February. 2003 by and among the
<br />Trustor, Shafer Properties. L.L.C. , whose mailing address for purposes of this Deed of
<br />Trust is819 Diers Ave. N. Ste. 1 (herein, "Trustor ", whether one or more), the Trustee, Earl
<br />D. Ahlschwede. Attorney whose mailing address is 202 W 3'° St. Grand Island. NE 68801 (herein (�
<br />"Tmstee "), and the Beneficiary, Equitable Federal Savings Bank of Grand Island, whose \
<br />mailing address is PO Box 160, Grand Island NE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to (herein `Borrower ", whether one or more), and the trust herein created, the receipt
<br />of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Lender, under and subject to the terms and conditions hereinafter set forth, legally described
<br />as follows:
<br />THE WESTERLY ONE -THIRD (W1 /3), OF LOT FIVE (5), IN BLOCK FIFTY SIX
<br />(56), IN ORIGINAL TOWN, NOW CITY OF GRAND ISLAND, HALL COUNTY,
<br />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,
<br />heating and cooling equipment and together with the homestead or marital interests, if any,
<br />which interests are hereby released and waived, all of which, including replacements and
<br />additions thereto, is hereby declared to be a part of the real estate secured by the lien of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced
<br />by a Promissory Note dated 02 -05 -2003, having a maturity date of duly 5. 2003, in
<br />the original principal amount of Ninty Thousand and No /100 Dollars ($90,000.00), and any
<br />and all modifications, extensions and renewals thereof or thereto and any and all future
<br />advances and readvances to Borrower (or any of them if more than one) hereunder pursuant
<br />to one or more promissory notes or credit arrangements (herein called "Note "); (b) the
<br />payment of other sums advanced by Lender to protect the security of the Note; (c) the
<br />performance of all covenants and agreements of Tmstor set forth herein; and (d) all present
<br />and future indebtedness and obligations of Borrower (or any of them if more than one) to
<br />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
<br />secure the Note or otherwise executed in connection therewith, including without limitation
<br />guarantees, security agreements and assignments of leases and rents, shall be referred to
<br />herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1) Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2) Title. Trustor 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
<br />and the execution and delivery of the Deed of Trust does not violate any contract or other
<br />obligation to which Trustor is subject.
<br />doc8.doc I of 6
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