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TRUST INDENTURE AND SECURITY AGREEMENT
<br />(This instrument also constitutes a real estate mortgage on the interest of Grand Island Facilities
<br />Corporation in certain real estate by virtue of certain easement rights therein.)
<br />THIS TRUST INDENTURE AND SECURITY AGREEMENT (this "Indenture "),
<br />made and entered into as of the first day of October, 2005, by and between Grand Island Facilities
<br />Corporation, a nonprofit corporation organized and existing under the laws of the State of
<br />Nebraska (the "Corporation ") and Wells Fargo Bank, National Association, a national banking
<br />association duly organized and existing under the laws of the United States of America and
<br />authorized to accept, administer and execute trusts of the character herein set out, with its initial
<br />designated corporate trust office in Lincoln, Nebraska, as trustee (the "Trustee "),
<br />WITNESSETH:
<br />WHEREAS, the Corporation, as seller and lessor, has entered into a Lease Purchase
<br />Agreement, dated as of July 12, 2005 as supplemented by an Addendum to Lease Purchase
<br />Agreement dated as of October 1, 2005 (together, the "Agreement ") with the City of Grand Island,
<br />in the County of Hall, in the State of Nebraska (the "City"), as purchaser and lessee, under which
<br />the Corporation has sold and leased to the City the Project (as defined in Article I hereof and
<br />described in greater detail on Exhibit A hereto attached);
<br />WHEREAS, in order to obtain funds for the acquisition and construction of the
<br />Project, it is necessary for the Corporation to issue its bonds in the amount of Seven Million
<br />Dollars ($7,000,000), said bonds to be paid out of and secured by a pledge of the Agreement and
<br />the payments to become due thereunder and the Trustee has agreed to act as Trustee under this
<br />Indenture for the holders of the bonds issued as hereinafter provided;
<br />NOW, THEREFORE, KNOW ALL PERSONS BY THESE PRESENTS:
<br />That the Corporation, in consideration of the premises and acceptance by the
<br />Trustee of the trust hereby created and of the purchase and acceptance of the bonds by the holders
<br />thereof and of the sum of One Dollar ($1.00) in lawful money of the United States of America to it
<br />duly paid by the Trustee at or before the execution and delivery of these presents, and for other
<br />good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, in
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<br />This instrument constitutes a Construction Security Agreement under the Nebraska Construction Lien Act, Sections 52-
<br />/S�
<br />.29 to 52 -159, R.R.S. Neb. 2004, as amended, and secures the obligations of Grand Island Facilities Corporation
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<br />`— incurred for the purpose of making an improvement of the real estate described in this instrument. This instrument is
<br />recorded to perfect a security interest which is a construction security interest.)
<br />TRUST INDENTURE AND SECURITY AGREEMENT
<br />(This instrument also constitutes a real estate mortgage on the interest of Grand Island Facilities
<br />Corporation in certain real estate by virtue of certain easement rights therein.)
<br />THIS TRUST INDENTURE AND SECURITY AGREEMENT (this "Indenture "),
<br />made and entered into as of the first day of October, 2005, by and between Grand Island Facilities
<br />Corporation, a nonprofit corporation organized and existing under the laws of the State of
<br />Nebraska (the "Corporation ") and Wells Fargo Bank, National Association, a national banking
<br />association duly organized and existing under the laws of the United States of America and
<br />authorized to accept, administer and execute trusts of the character herein set out, with its initial
<br />designated corporate trust office in Lincoln, Nebraska, as trustee (the "Trustee "),
<br />WITNESSETH:
<br />WHEREAS, the Corporation, as seller and lessor, has entered into a Lease Purchase
<br />Agreement, dated as of July 12, 2005 as supplemented by an Addendum to Lease Purchase
<br />Agreement dated as of October 1, 2005 (together, the "Agreement ") with the City of Grand Island,
<br />in the County of Hall, in the State of Nebraska (the "City"), as purchaser and lessee, under which
<br />the Corporation has sold and leased to the City the Project (as defined in Article I hereof and
<br />described in greater detail on Exhibit A hereto attached);
<br />WHEREAS, in order to obtain funds for the acquisition and construction of the
<br />Project, it is necessary for the Corporation to issue its bonds in the amount of Seven Million
<br />Dollars ($7,000,000), said bonds to be paid out of and secured by a pledge of the Agreement and
<br />the payments to become due thereunder and the Trustee has agreed to act as Trustee under this
<br />Indenture for the holders of the bonds issued as hereinafter provided;
<br />NOW, THEREFORE, KNOW ALL PERSONS BY THESE PRESENTS:
<br />That the Corporation, in consideration of the premises and acceptance by the
<br />Trustee of the trust hereby created and of the purchase and acceptance of the bonds by the holders
<br />thereof and of the sum of One Dollar ($1.00) in lawful money of the United States of America to it
<br />duly paid by the Trustee at or before the execution and delivery of these presents, and for other
<br />good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, in
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