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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, Shay P. McGowan and Jacev L. McGowan, Husband and Wife, whose
<br />mailing address for purposes of this Deed of Trust is 533 Linden Ave.. Grand
<br />Island, NE 68803 (hcrcin, °Trustoi', whether one or moire), the "ftustec, Earl D.
<br />Ahlschwede, Attorney whose mailing address is 202 W 3" St., Grand Island.
<br />NE 68803 (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 Shav P. McGowan, Jacev L. McGowan, and Shav P. McGowan. D.D.S.. P.C.
<br />(herein " BonoweC, whether one or more). and the trust herein created, the receipt of which
<br />is hereby acknowledged, Truslor hereby irrevocably grants, transfers, conveys and assigns to
<br />I mince, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under
<br />and subject to the terms and conditions hereinafter set forth. legally described as follows:
<br />Lot Two (2), in Medical Park Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska.
<br />together with all buildings, improvements, fixtures, sheets, 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 tferred to herein as the "Property ".
<br />This Deed of'I'rust shall secure (a) the payment of the principal sum and interest evidenced
<br />by a Promissory Notes dated October 4. 2002, having a maturity date of
<br />October 25, 2006 and October 1. 2003 in the original principal amount of
<br />Three Hundred and no /100 (S 53,300.00) and any and all modifications, extensions and
<br />renewals thereof or thereto and any and all future advances and readvances to Borrower (or
<br />any of them if more than one) hcrcunder pursuant to one or more promissory notes or credit
<br />arrangements (heroin called "Note "); (b) the payment of other sums advanced by Lender to
<br />pretax the security of the Note; (c) the performance of all covenants and agreements of
<br />Tmstor sot forth herein; and (d) all present and future indebtedness and obligations of
<br />Borrower (or any of them if more than one) to Lender whether direct, indirect. absolute or
<br />contingent and whether arising by note. guaranty, overdraft or otherwise. The Note, this Deed
<br />of "I rust and any and all other documents that secure the Note or otherwise executed in
<br />connection therewith, including without limitation guamnteros, security agreements and
<br />assignments of leases and rents, shall 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 />ohligation to which Trustor is subject.
<br />mcgowannew dc 1 of 6
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