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200306990 DEED OF TRUST
<br />Loan # 805244
<br />This DEED OF TRUST is made as of the 28TH day of May, 2003 by and among the
<br />Trustor, SHAFER PROPERTIES LLC, A NEBRASKA LIMITED LIABILITY
<br />COMPANY, whose mailing address for purposes of this Deed of Trust is 30
<br />PONDEROZA (herein, "Trustor ", whether one or more), the Trustee, Earl D. Ahlschwede,
<br />Attorney whose mailing address is 202 W. 3rd 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 SHAFER PROPERTIES LLC, _A NEBRASKA LIMITED LIABILITY
<br />COMPANY (herein "Borrower ", whether one or more), and the trust herein created, the
<br />receipt of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers,
<br />conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Lender, under and subject to the terms and conditions hereinafter set forth, legally
<br />described as follows:
<br />LOT ONE (1), CEDAR RIDGE SECOND SUBDIVISION, A REPLAT OF LOT
<br />THREE (3) CEDAR RIDGE FIRST SUBDIVISION IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />which has the address of W 13`h St, Grand Island,Nebraska 68803 ( "Property Address ");
<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 05 -28 -2003, having a maturity date of 09 -01 -2003, in
<br />the original principal amount of FIVE HUNDRED FORTY THOUSAND AND NO /100
<br />Dollars ($540,000.00), 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.
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<br />200306990 DEED OF TRUST
<br />Loan # 805244
<br />This DEED OF TRUST is made as of the 28TH day of May, 2003 by and among the
<br />Trustor, SHAFER PROPERTIES LLC, A NEBRASKA LIMITED LIABILITY
<br />COMPANY, whose mailing address for purposes of this Deed of Trust is 30
<br />PONDEROZA (herein, "Trustor ", whether one or more), the Trustee, Earl D. Ahlschwede,
<br />Attorney whose mailing address is 202 W. 3rd 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 SHAFER PROPERTIES LLC, _A NEBRASKA LIMITED LIABILITY
<br />COMPANY (herein "Borrower ", whether one or more), and the trust herein created, the
<br />receipt of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers,
<br />conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Lender, under and subject to the terms and conditions hereinafter set forth, legally
<br />described as follows:
<br />LOT ONE (1), CEDAR RIDGE SECOND SUBDIVISION, A REPLAT OF LOT
<br />THREE (3) CEDAR RIDGE FIRST SUBDIVISION IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />which has the address of W 13`h St, Grand Island,Nebraska 68803 ( "Property Address ");
<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 05 -28 -2003, having a maturity date of 09 -01 -2003, in
<br />the original principal amount of FIVE HUNDRED FORTY THOUSAND AND NO /100
<br />Dollars ($540,000.00), 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 />doc&doc
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<br />200306990 DEED OF TRUST
<br />Loan # 805244
<br />This DEED OF TRUST is made as of the 28TH day of May, 2003 by and among the
<br />Trustor, SHAFER PROPERTIES LLC, A NEBRASKA LIMITED LIABILITY
<br />COMPANY, whose mailing address for purposes of this Deed of Trust is 30
<br />PONDEROZA (herein, "Trustor ", whether one or more), the Trustee, Earl D. Ahlschwede,
<br />Attorney whose mailing address is 202 W. 3rd 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 SHAFER PROPERTIES LLC, _A NEBRASKA LIMITED LIABILITY
<br />COMPANY (herein "Borrower ", whether one or more), and the trust herein created, the
<br />receipt of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers,
<br />conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Lender, under and subject to the terms and conditions hereinafter set forth, legally
<br />described as follows:
<br />LOT ONE (1), CEDAR RIDGE SECOND SUBDIVISION, A REPLAT OF LOT
<br />THREE (3) CEDAR RIDGE FIRST SUBDIVISION IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />which has the address of W 13`h St, Grand Island,Nebraska 68803 ( "Property Address ");
<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 05 -28 -2003, having a maturity date of 09 -01 -2003, in
<br />the original principal amount of FIVE HUNDRED FORTY THOUSAND AND NO /100
<br />Dollars ($540,000.00), 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 />doc&doc
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