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<br />WHEN RECORDED MAIL TO: U'
<br />Bankers Trust Company, N.A.
<br />Attn: Loan Documentation
<br />P.O. Box 897
<br />Des Moines, IA 50304 -0897 FOR RECORDER'S USE ONLY
<br />MORTGAGE
<br />MAXIMUM LIEN. The lien of this Mortgage shall not exceed at any one time $400,000.00.
<br />THIS MORTGAGE dated October 24, 2002, is made and executed between Stetson Building Products, Inc.,
<br />whose address is 510 SW 9th Street, Des Moines, IA 50309 (referred to below as "Grantor ") and Bankers
<br />Trust Company, N.A., whose address is 665 Locust St, P.O. Box 897, Des Moines, IA 50304 -0897 (referred
<br />to below as "Lender ").
<br />GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in
<br />and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and
<br />fixtures; all easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities
<br />with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all
<br />minerals, oil, gas, geothermal and similar matters, (the "Real Property ") located in Hall County, State of Nebraska:
<br />Lot One (1) Starostka Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as 456 Industrial Lane, Grand Island, NE 68803.
<br />Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all
<br />Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and
<br />Rents.
<br />THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
<br />IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE
<br />NOTE, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this
<br />Mortgage as they become due and shall strictly perform all of Grantor's obligations under this Mortgage.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Mortgage. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and
<br />warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor
<br />hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses,
<br />liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this
<br />section of the Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release
<br />occurring prior to Grantor's ownership or interest in the Property, whether or not the same was or should have been known to
<br />Grantor. The provisions of this section of the Mortgage, including the obligation to indemnify, shall survive the payment of the
<br />Indebtedness and the satisfaction and reconveyance of the lien of this Mortgage and shall not be affected by Lender's acquisition of
<br />any interest in the Property, whether by foreclosure or otherwise.
<br />Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to
<br />any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products
<br />without Lender's prior written consent.
<br />Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior
<br />written consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory
<br />to Lender to replace such Improvements with Improvements of at least equal value.
<br />Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to
<br />attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of
<br />this Mortgage.
<br />Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or
<br />hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the
<br />Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance
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