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<br />DEED OF TRUST
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is December 31, 2002. The parties
<br />and their addresses are:
<br />TRUSTOR (Grantor):
<br />WARD F. HOPPE, L.L.C.
<br />A Nebraska Limited Liability Company
<br />1600 Stonyhill
<br />Lincoln, Nebraska 68520
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave.; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />47- 0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />Lots Two (2), Three (3) and Four (4) Lindsay Subdivision, an Addition to the City of Grand Island, Hall County,
<br />Nebraska AND
<br />Lot Two (2) O'Connor Second Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska.
<br />The property is located in Hall County at 309 West Hedde, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $625,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, dated December 31, 2002, from Lyle L. Dutton and Lorraine B. Dutton
<br />(Borrower) to Lender, with a loan amount of $625,000.00 and maturing on January 15, 2008.
<br />B. All Debts. All present and future debts from Lyle L. Dutton and Lorraine B. Dutton to Lender, even if this
<br />Security Instrument is not specifically referenced, or if the future debt is unrelated to or of a different type
<br />than this debt. If more than one person signs this Security Instrument, each agrees that it will secure debts
<br />incurred either individually or with others who may not sign this Security Instrument. Nothing in this
<br />Security Instrument constitutes a commitment to make additional or future loans or advances. Any such
<br />commitment must be in writing. In the event that Lender fails to provide any required notice of the right of
<br />rescission, Lender waives any subsequent security interest in the Grantor's principal dwelling that is created
<br />by this Security Instrument. This Security Instrument will not secure any debt for which a non - possessory,
<br />non - purchase money security interest is created in "household goods" in connection with a "consumer loan,"
<br />as those terms are defined by federal law governing unfair and deceptive credit practices. This Security
<br />Instrument will not secure any debt for which a security interest is created in "margin stock" and Lender
<br />does not obtain a "statement of purpose," as defined and required by federal law governing securities.
<br />C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br />Instrument.
<br />Lyle L. Dutton
<br />Nebraska Deed Of Trust Initials
<br />NE14XX !4469500600000003770015123102Y 01996 Bankers Systems, Inc., St. Cloud, MN Page 1
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