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<br />DEED OF TRUST
<br />This DEED OF TRUST is made as of the 26th day of August, 2005 by and among the Trustor, Galvan
<br />Construction, Inc., whose mailing address for purposes of this Deed of Trust is 563 E. Capital Avenue, Grand
<br />Island, NE 68801 (herein, "Trustor ", whether one or more), the Trustee, AREND R. BAACK, Attorney at Law,
<br />a member of the Nebraska State Bar Association, whose mailing address is P. 0. Box 790, Grand Island, NE
<br />68802 -0790 (herein "Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN
<br />ASSOCIATION OF GRAND ISLAND, whose mailing address is P. 0. Box 1009, Grand Island, NE 68802-
<br />1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />Galvan Construction, Inc. (herein "Borrower ", whether one or more), and the trust herein created, the receipt of
<br />which is hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms
<br />and conditions hereinafter set forth, legally described as follows:
<br />LOTS FIVE (5), SIX (6), SEVEN (7), EIGHT (8), NINE (9), TEN (10), ELEVEN (11),
<br />TWELVE (12), THIRTEEN (13) AND FOURTEEN (14), IN BLOCK THIRTEEN (13),
<br />METH'S ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions
<br />and remainders thereof, and such personal property that is attached to the improvements so as to constitute a
<br />fixture, including, but not limited to, heating and cooling equipment and together with the homestead or marital
<br />interests, if any, which interests are hereby released and waived, all of which, including replacements and
<br />additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and
<br />all of the foregoing being referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by an
<br />Universal Note dated August 26, 2005, having a maturity date of August 26, 2015, in the original principal
<br />amount of Fifty -Five Thousand and 00/100 Dollars ($55,000.00), and (b) by an Universal Note dated August
<br />26, 2005, having a maturity date of August 26, 2006, in the original principal amount of Eighty Thousand and
<br />00/100 Dollars ($80,000.00), and any and all modifications, extensions and renewals thereof or thereto and any
<br />and all future advances and re- advances to Borrower (or any of them if more than one) hereunder pursuant to
<br />one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums
<br />advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them
<br />if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note,
<br />guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the
<br />Note or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of
<br />the Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquent all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable
<br />to Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under
<br />such policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have
<br />the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such
<br />order as Lender
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