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<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />E] Construction Security Agreement
<br />1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is ,.,August 1, 2002- and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />TRUSTOR: Shafer Properties, LLC
<br />30 Ponderosa Drive
<br />Grand Island, Nebraska 68803
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<br />If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgments.
<br />TRUSTEE: Earl D. Ahlschwede, Attorney at Law
<br />BENEFICIARY: Equitable Federal Savings Bank of Grand Island
<br />113 -115 N. Locust Street, Grand Island, Nebraska 68801 -6003
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<br />Organized and existing under the Laws of the State of Nebraska
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Truster irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />property:
<br />SEE ATTACHED EXHIBIT "A"
<br />The property is located in SEE ATTACHED EXHIBIT_ "' -A "_ . _ at
<br />(County)
<br />_._ Nebraska
<br />(Address) (City) (ZIP Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian
<br />rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, be part of the real estate described above (all referred to as "Property").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall
<br />not exceed $ 250,000,00 - . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this
<br />Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.)
<br />Borrower: Shafer Properties, LLC
<br />Promissory Note in the amount of $190,000.00 dated August 1, 2002 and
<br />matures August 10, 2007. Interest rate of 7.25 %. And Promissory Note in
<br />the amount of $60,000.00 dated August 1, 2002 and matures July 31,2003.
<br />Interest rate of 7.25%
<br />NEBRASKA -DEED OF TRUST INOT FOR FNMA, FHLMC, FHA OR VA USE) (page 1 of 41
<br />0 1994 Bankers Systems, Inc, St. Cloud, MN (1- 800 -397 -2341) Form RE DT NE 10/27/97
<br />(M ®C1651NE1 l9e06).o1 VMP MORTGAGE FORMS - 18001521-7291
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<br />Space Above This Line For Recording
<br />Data
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />E] Construction Security Agreement
<br />1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is ,.,August 1, 2002- and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />TRUSTOR: Shafer Properties, LLC
<br />30 Ponderosa Drive
<br />Grand Island, Nebraska 68803
<br />O II
<br />N =3
<br />C.)
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<br />If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgments.
<br />TRUSTEE: Earl D. Ahlschwede, Attorney at Law
<br />BENEFICIARY: Equitable Federal Savings Bank of Grand Island
<br />113 -115 N. Locust Street, Grand Island, Nebraska 68801 -6003
<br />0
<br />Organized and existing under the Laws of the State of Nebraska
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Truster irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />property:
<br />SEE ATTACHED EXHIBIT "A"
<br />The property is located in SEE ATTACHED EXHIBIT_ "' -A "_ . _ at
<br />(County)
<br />_._ Nebraska
<br />(Address) (City) (ZIP Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian
<br />rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, be part of the real estate described above (all referred to as "Property").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall
<br />not exceed $ 250,000,00 - . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this
<br />Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.)
<br />Borrower: Shafer Properties, LLC
<br />Promissory Note in the amount of $190,000.00 dated August 1, 2002 and
<br />matures August 10, 2007. Interest rate of 7.25 %. And Promissory Note in
<br />the amount of $60,000.00 dated August 1, 2002 and matures July 31,2003.
<br />Interest rate of 7.25%
<br />NEBRASKA -DEED OF TRUST INOT FOR FNMA, FHLMC, FHA OR VA USE) (page 1 of 41
<br />0 1994 Bankers Systems, Inc, St. Cloud, MN (1- 800 -397 -2341) Form RE DT NE 10/27/97
<br />(M ®C1651NE1 l9e06).o1 VMP MORTGAGE FORMS - 18001521-7291
<br />
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