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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 03 -31 -2003, having a maturity date of 06-30 -2008, in
<br />the original principal amount of Four Hundred Forty Thousand Dollars and No /100
<br />Dollars ($440,000.00), and any and all modifications, extensions and renewals thereof or
<br />thereto and any and all future advances and readvances to Borrower (or any of them if more
<br />than one) hereunder pursuant to one or more promissory notes or credit arrangements (herein
<br />called `Note "); (b) the payment of other sums advanced by Lender to protect the security of
<br />the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and
<br />(d) all present and future indebtedness and obligations of Borrower (or any of them if more
<br />than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br />note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other
<br />documents that secure the Note or otherwise executed in connection therewith, including
<br />without limitation guarantees, security agreements and assignments of leases and rents, shall
<br />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. Truster 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 Truster is subject.
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<br />DEED OF TRUST
<br />Loan # 805217
<br />This DEED OF TRUST is made as of the 03/31/03 day of March. 2003 by and among the
<br />�\
<br />Truster, Shafer Properties, L.L.C., whose mailing address for purposes of this Decd of
<br />Trust is30 Ponderosa (herein, " Trustor', whether one or more), the Trustee, Earl D.
<br />Ahlschwede. Attorney whose mailing address is 202 W. 31d St Grand Island, NE 68801 (herein
<br />"Trustee "), 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 Shafer Properties, L.L.C. (herein `Borrower ", whether one or more), and the trust
<br />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), Crane Valley 4th Subdivision, in the city of Grand Island, Hall County,
<br />Nebraska. 920 DTERS AVE. N. G.I., NE 68803
<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 03 -31 -2003, having a maturity date of 06-30 -2008, in
<br />the original principal amount of Four Hundred Forty Thousand Dollars and No /100
<br />Dollars ($440,000.00), and any and all modifications, extensions and renewals thereof or
<br />thereto and any and all future advances and readvances to Borrower (or any of them if more
<br />than one) hereunder pursuant to one or more promissory notes or credit arrangements (herein
<br />called `Note "); (b) the payment of other sums advanced by Lender to protect the security of
<br />the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and
<br />(d) all present and future indebtedness and obligations of Borrower (or any of them if more
<br />than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br />note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other
<br />documents that secure the Note or otherwise executed in connection therewith, including
<br />without limitation guarantees, security agreements and assignments of leases and rents, shall
<br />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. Truster 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 Truster is subject.
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