|
200303445
<br />NEBRASKA
<br />SECOND DEED OF TRUST'
<br />(IBA Loan)
<br />This Second Deed of Trost (this "Second Deed off rust "), is made as of March 21, 2003 by and
<br />among TERRY E REILLY AND JAIME I REILLY (`Tmstor), whose mailing address is 2032
<br />NORTH S14F.RMAN GRAND ISLAND, NE, 68803- ; COMMERCIAL FEDERAL RANK, A
<br />SAVINGS BANK, ('Trustee "), whose mailing address is 450 Regency Parkway, Omaha, Nebraska; and
<br />Nebraska investment Finance Authority ( "Beneficiary'), whose mailing address is 200 Commerce Court,
<br />1230 0 Street, Lincoln, Nebraska, 68508-1402.
<br />FOR VALUABLE CONSIDERATION, Truster irrevocably transfers, conveys and assigns to
<br />Tmstcc, IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Second Deed of Trost, the real property, legally described on
<br />Exhibit A attached hereto and incorporated herein by reference (the `Property "); and
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the
<br />Property (collectively, the "rents'), all leases or subleases covering the Property or any portion thereof now
<br />or hereafter existing or entered into, and all right, title and interest of Truster thereunder, all right, title and
<br />interest of Truster in and to any greater estate in the Property owned or hereafter acquired, all interests,
<br />estate or other claims, both in law and in equity, which Truster now has or may hereafter acquire in the
<br />Property, all easements, rights -of -way, tenements, hereditaments and appurtenances thereof and thereto, all
<br />water rights, all right, title and interest of Toaster, now owned or hereafter acquired, in and to any land,
<br />lying within the right -of -way, of any street or highway adjoining the Property, and any and all alleys and
<br />strips and gores of land adjacent to or used in connection with the Property, and any and all buildings,
<br />fixtures and improvements now or hereafter erected thereon (the "Improvements'), and all the estate,
<br />interest, right, title or any claim or demand which Tmstor now has or may hereafter acquire in the Property,
<br />and any and all awards made for the taking by eminent domain, or by any proceeding or purchase in lieu
<br />thereof, of the whole or any part of the Trost Estate, including without limitation any awards resulting from
<br />a change of gmdc of streets and awards for severance damages.
<br />The Property and the entire estate and interest conveyed to the Trustee are rcfcred to collectively
<br />as the "Trust Estate ".
<br />For the Purpose of Securing:
<br />A. Payment of indebtedness evidenced by any promissory note of Toaster in favor of
<br />Beneficiary; and
<br />B. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon
<br />at the rate of sixteen percent (16 %) per annum.
<br />the indebtedness described in paragraphs A and B above is referred to as the `Indebtedness."
<br />Phis Second Deed of Trust, any promissory note of Toaster in favor of Beneficiary and any other
<br />instrument given to evidence or further secure the payment and performance of any obligation secured
<br />hereby are referred to collectively as the "Loan Instruments ".
<br />Tmstor covenants that (if Tmstor holds title to the Trust Estate and has lawful authority to
<br />encumber the Trost Estate, (ii) the Trust Estate is free and clear of all liens and encumbrances except for
<br />easements, restrictions and covenants of record and the Deed of Trost from 'I'castor encumbering the
<br />Property dated on or about the date hereof (the "First Deed of Trost "), and (iii) the Truster will defend the
<br />Trost Estate against the lawful claims of any person.
<br />
|