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<br />DEED OF TRUS~~ 200510470
<br />
<br />DEED OF TRUST made on C9d- \.. ~_ ' , 2005, by and among the
<br />Trustor, Jayhawk Investments 101, LLC, a Kansas Limited Liability Company, whose
<br />mailing address is PO Box 442276, Lawrence, Kansas, 66044 and whose Manager is
<br />Don W. Zimmer, herein "Borrower", the Trustee, Kenneth F. George, a Nebraska
<br />Attorney, whose mailing address is P.O. Box 1685, Kearney, Nebraska 68848-1685,
<br />herein "Trustee", and the Beneficiaries, Jeffrey D. Butterfield, One West Northwest
<br />Highway, Palatine, Illinois 60067 and Don W. Zimmer, 1317Stonecreek Drive,
<br />Lawrence, Kansas 66044, herein collectively "Lender".
<br />
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified herein
<br />and the trust herein created, the receipt of which is hereby acknowledged, Borrower
<br />hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the
<br />terms and conditions hereinafter set forth, the real property, described as follows:
<br />
<br />'E
<br />
<br />Lot Five (5), Menard Second Subdivision, in the City of Grand Island, Hall,
<br />County, Nebraska,
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, rights,
<br />easements, privileges and appurtenances located thereon or in anywise pertaining
<br />thereto, and the rents, issues and profits, reversions and remainders thereof, including,
<br />but not limited to, heating and cooling equipment and such personal property that is
<br />attached to the improvements so as to constitute a fixture; and together with homestead
<br />or marital interests, if any, which interests are hereby released and waived; all of which,
<br />including replacements and additions thereto, is hereby declared to be a part of the real
<br />property secured by the lien of this Deed of Trust and all of the foregoing being referred
<br />to herein as the "Property".
<br />
<br />!~~.
<br />
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest
<br />evidenced by Borrower's note dated October 18, 2005, having a maturity date of
<br />October 18, 2009, in the original principal amount of $150,000.00 and any and all
<br />modifications, extensions and renewals thereof or thereto (hereinafter the "Note"); (b)
<br />the payment of other sums advanced by Lender to protect the security of the Note, with
<br />interest thereon at the rate of 7 % per annum; and (c) the performance of all covenants
<br />and agreements of Borrower set forth herein.
<br />
<br />Borrower, to protect the security of this Deed of Trust, covenants and agrees with
<br />Lender as follows:
<br />
<br />1. Payment of Principal and Interest. Borrower shall promptly pay the Note in
<br />accordance with its terms and shall pay, when due, any fees or charges provided in this
<br />Deed of Trust.
<br />
<br />2. Title. Borrower is the owner of the Property, has the right and authority to
<br />convey the Property, and warrants that the lien created hereby is a second lien on the
<br />Property, subject and subordinate only to that certain deed of trust given by Borrower
<br />for the benefit of First State Bank and Trust, Lawrence, Kansas, as Trustee and
<br />Beneficiary, and filed and recorded in the office of the Register of Deeds of Hall County,
<br />Nebraska, on September 19, 2005, as Instrument No. 0200509250.
<br />
<br />3. Taxes and Assessments. To pay when due all taxes, special assessments
<br />and all other charges against the Property.
<br />
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