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<br />and ainong 1 & B RENTALS L.L.C.
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<br />N. St. Paul Rd. Grand Island, NE.
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<br />Title, 503
<br />W. Koenig St. , Grand 1sIandT,-NE—.-688dl
<br />and PLATE ENTERPRISES L.L.C.
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<br />DEED OF TRUST
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<br />S DEED OF TRUST, is mode as of L
<br />day of
<br />Au ust 2005 by
<br />and ainong 1 & B RENTALS L.L.C.
<br />( ' is "Trustor "), whose mailing address is
<br />N. St. Paul Rd. Grand Island, NE.
<br />; GAR
<br />ttorney -at -Law
<br />( "Trustee "), whose mailing address is C/o Advantage
<br />Title, 503
<br />W. Koenig St. , Grand 1sIandT,-NE—.-688dl
<br />and PLATE ENTERPRISES L.L.C.
<br />( "Beneficiary ")
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<br />whose mailing address is__2209 E_ __z1_
<br />tollev
<br />Rd _ .Grand
<br />Ne 68801
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<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and sec rity ofB .n fici y, under and subject to the terms and conditions of this Deed of Trust,
<br />© Grand I s�1an
<br />the real property located in the City of County of
<br />�r 1 State of Nebraska, and legally described as follows (the "Property "):
<br />04 The Southerly Forty -five (45) feet of Lot One (1) in Block Nineteen (19) in
<br />M Rollin's Addition to the City of Grand Island, Hall County, Nebraska
<br />1'77 TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and alleys,
<br />improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral
<br />part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />M The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate ".
<br />C4% FOR THE PURPOSE OF SECURING:
<br />principal 45 , 000.00 ' hereon, as evidenced by that
<br />a. Payment of indebtness in the total princi al arnount of $ with interest t
<br />� certain promissory note of even date (the "Note ") with a maturity date of Au ust 1 2020 _
<br />7 executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby
<br />ymade a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />�._. Six _ percent (_ 6 _ %) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT 'THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. 'Trustor shall pay when due tfie principal of, and the interest on, the indebtedness
<br />evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2, TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind, now or hereafter levied
<br />against the trust estate or any part thereof as follows:
<br />(initial one)
<br />X 'Trustor shall directly pay such taxes, without notice or demand as each installment comes due and shall
<br />provide the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one - twelfth of the real estate taxes each month and such other assessments
<br />as they become due. The one - twelfth payment shall be adjusted annually as the taxes change and trustor agrees that
<br />after payment of the taxes each year that any deficiency will be promptly paid to Beneficiary. Beneficiary agrees
<br />to provide trustor with receipts showing that the real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring the improvements
<br />and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the
<br />Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and
<br />tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4, ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding purporting to
<br />affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of
<br />evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor
<br />fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and /or
<br />Trustee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without
<br />releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem
<br />necessary to protect the security hereof: Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br />expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees, Any such costs and expenses not paid
<br />within Lou (10) days of'written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br />any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condemnation
<br />( "Condemnation "), or should "Trustor receive any notice or other information regarding such proceeding, Trustor shall give prompt
<br />written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or relief
<br />therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br />Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or damage. All such
<br />compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds ") are hereby assigned to
<br />Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. FUTURE ADVANCES, Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property
<br />to Trustor may make future advances to Trustor. Such future advances, with interest thereon, shall be secured by this Deed of
<br />Trust when evidenced by promissory notes stating that said notes are secured hereby,
<br />7. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executed and
<br />acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is located and by
<br />otherwise complying with the provisior•, of the applicable law of the State of Nebraska substitute a successor or successors to
<br />the Trustee named herein or acting hei ider.
<br />8. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties hereto, their
<br />heirs, legatees, divorcee, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and
<br />holder of the Note, whether or not named as Beneficiary herein.
<br />9. INSPECTION. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary
<br />shall give Trustor notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
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