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<br />DEED OF TRUST
<br />This DEED OF TRUST is made as of the 4th day of October 2002 by and among
<br />the Truster, Shav P McGowan and Jacev I. McGowan, Husband and Wife , whose
<br />mailing address for purposes of this Deed of Trust is 533 Linden Ave.. Grand
<br />Island. NE (herein, "Tm5101", whether one or more), the Trustee, Earl D. o
<br />Ahlschwede, Attorney whose mailing address is 202 W. 3`d St., Grand �
<br />Island, NE (herein "Trustee"), and the Beneficiary, Equitable Federal Savings Bank of
<br />Grand Island, whose mailing address is PO Box 160, Grand Island NE 68802 (herein
<br />"Lender').
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to Shay P McGowan Jacev L McGowan and Shav P. McGowan, D.D.S.,
<br />P.C. (herein "Borrower ", whether one or more), and the trust herein created, the receipt of
<br />which is hereby acknowledged, Truster hereby irrevocably grants, transfers, conveys and
<br />assigns to 'trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />I ender, under and subject to the terms and conditions hereinafter set forth, legally described
<br />as follows:
<br />Lot Two (2), in Medical Park Subdivision, in the City of Grand Island, hall County,
<br />Nebraska.
<br />And
<br />Lot Twenty Five (25), in Eagle Lake Estates Subdivision, Hall 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 properly 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 October 4 ,2002 , having a
<br />maturity date of October 15 1 2012 , in the original principal
<br />amount of Seven Hundred Fife Thousand and No /100 Dollars ($750,000.1111 ), and
<br />any and all modifications, extensions and renewals thereof or thereto and any and all future
<br />advances and readvanees to Bonower (or any of them if more than one) hereunder pursuant
<br />to one or more promissory notes or credit arrangements (herein called "Note "); (b) the
<br />payment of other sums advanced by Lender to protect the security of the Note; (e) the
<br />pot eiroance of all covenants and agreements of 'I mstor set forth herein; and (d) all present
<br />and future indebtedness and obligations of Borrower (or any of than if more than one) to
<br />Lender whether direct, indirccl, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that
<br />secure the Note or otherwise executed in connection therewith, including without limitation
<br />guarantees, security agreements and assignments of leases and rents, shall be referred to
<br />herein as the 'Tom 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 />in, g."an DO 7SO,000.&C I af6
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