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<br />200301625 DEED OF TRUST
<br />Loan # 805004
<br />This DEED OF TRUST is made as of the 31st day January. 2003 of by and among the
<br />Trustor, L.U.D. Investments L .L .C., A Nebraska Limited Liability Company , whose ,
<br />mailing address for purposes of this Deed of Trust is 2726 St. Patrick Ave. Grand Island,
<br />NE 68803 (herein, "Trustor ", whether one or more), the Trustee, Earl D. Ahlschwede
<br />Attorney whose mailing address is 202 W. 3rs St. Grand Island, NE 68801 (herein "Trustee"),
<br />and the Beneficiary, Equitable Federal Savings Bank of Grand Island, whose mailing address
<br />is PO Box 160, Grand Island NE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to L.U.D. Investments. L.L.C. (herein `Borrower ", whether one or more), and the
<br />trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocably
<br />grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for
<br />the benefit and security of Lender, under and subject to the terms and conditions hereinafter
<br />set forth, legally described as follows:
<br />Lot three (3), Block two (2), Crane Valley Subdivision in the City of Grand Island, Hall
<br />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,
<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 31- Jan -031 having a maturity date of 01- Mar -03, in the
<br />original principal amount of Two Hundred Nintv Three Thousand Two Hundred Nintv
<br />Eiuht and 47/100 Dollars ($293,298.47), and any and all modifications, extensions and
<br />renewals thereof or thereto and any and all future advances and readvances to Borrower (or
<br />any of them if more than one) hereunder pursuant to one or more promissory notes or credit
<br />arrangements (herein called "Note "); (b) the payment of other sums advanced by Lender to
<br />protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of
<br />Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or
<br />contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed
<br />of Trust and any and all other documents that secure the Note or otherwise executed in
<br />connection therewith, including without limitation guarantees, security agreements and
<br />assignments of leases and rents, shall be referred to 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.
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