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200508354
<br />1.2 Address. The address of the Subject Property (if known) is: 2920 Old Fair Road, Grand Island, NE
<br />68803, Assessor's Parcel No. 400066009. Neither the failure to designate an address nor any
<br />inaccuracy in the address designated shall affect the validity or priority of the lien of this Deed of Trust on
<br />the Subject Property as described on Exhibit A. In the event of any conflict between the provisions of
<br />Exhibit A and said address, Exhibit A shall control.
<br />•. 11W 01 RNMMUM111
<br />2.1 Obligations Secured. Trustor makes this grant and assignment for the purpose of securing the
<br />following obligations (each, a "Secured Obligation" and collectively, the "Secured Obligations "):
<br />a) payment to Beneficiary of all sums at any time owing and performance of all other obligations
<br />arising under or in connection with that certain promissory note, loan or credit agreement,
<br />confirmation letter and disclosure, or other evidence of debt ( "Note ") dated as of August 05, 2005,
<br />in the maximum principal amount of Eighty -Five Thousand and 00/100 Dollars ($85,000.00), with
<br />interest as provided therein, executed by Lee's Family Restaurant, Inc. and payable to Beneficiary
<br />or its order, together with the payment and performance of any other indebtedness or obligations
<br />incurred in connection with the credit accommodation evidenced by the Note, whether or not
<br />specifically referenced therein;
<br />b) payment and performance of all obligations of Trustor under this Deed of Trust, together with all
<br />advances, payments or other expenditures made by Beneficiary or Trustee as or for the payment or
<br />performance of any such obligations of Trustor;
<br />c) payment and performance of all obligations, if any, and the contracts under which they arise, which
<br />any rider attached to and recorded with this Deed of Trust recites are secured hereby;
<br />d) payment and performance of all future advances and other obligations that the then record owner
<br />of the Subject Property may agree to pay and /or perform (whether as principal, surety or guarantor)
<br />for the benefit of Beneficiary, when any such advance or other obligation is evidenced by a writing
<br />which recites that it is secured by this Deed of Trust; and
<br />e) all modifications, extensions and renewals of any of the Secured Obligations (including without
<br />limitation, (i) modifications, extensions or renewals at a different rate of interest, or (ii) deferrals or
<br />accelerations of the required principal payment dates or interest payment dates or both, in whole or
<br />in part), however evidenced, whether or not any such modification, extension or renewal is
<br />evidenced by a new or additional promissory note or notes, loan or credit agreement,
<br />confirmation letter and disclosure, change in terms agreement, or other evidence of debt.
<br />2.2 Obligations. The term "obligations" is used herein in its most comprehensive sense and includes
<br />any and all advances, debts, obligations and liabilities heretofore, now or hereafter made, incurred or
<br />created, whether voluntary or involuntary and however arising, whether due or not due, absolute or
<br />contingent, liquidated or unliquidated, determined or undetermined, joint or several, including without
<br />limitation, all principal, interest, charges, including prepayment charges and late charges, and loan fees
<br />at any time accruing or assessed on any Secured Obligation.
<br />2.3 Incorooration, All terms of the Secured Obligations are incorporated herein by this reference. All
<br />persons who may have or acquire an interest in the Subject Property are hereby deemed to have notice
<br />of the terms of the Secured Obligations and to have notice, if provided therein, that: (a) the Note or any
<br />other Secured Obligation may permit borrowing, repayment and reborrowing; and (b) the rate of interest
<br />on one or more of the Secured Obligations may vary from time to time.
<br />2.4 Maximum Secured Amount, The maximum amount secured by this Deed of Trust is twice the
<br />aggregate amount of the Note and each other instrument, agreement or obligation specifically described
<br />herein or in any rider attached to and recorded with this Deed of Trust, or otherwise incorporated herein
<br />by reference, including any of the foregoing which is incorporated into this Deed of Trust by a
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