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<br />
<br />THIS DEED OF TRUST is made on this 2nd day of November 2005. The Trustor
<br />(whether one or more) is Universal Builders, LLC, a Nebraska limited liability company, whose
<br />address for purposes of notices in respect to this Deed of Trust is 825 E Sunset Ave, Grand
<br />Island NE 68801 and is sometimes herein identified as Borrower. The Trustee is Arend R.
<br />Baack, Attorney at Law and member of the Nebraska State Bar Association, whose address is
<br />104 N. Wheeler, P,O. Box 790, Grand Island, NE 68802-0790. The Beneficiary is HASTINGS
<br />VENTURES, LLC., a Nebraska limited liability company, whose address for purposes of
<br />notification under this Deed of Trust is 429 Industrial Lane, Grand Island, NE 68803 and is
<br />sometimes herein identified as Lender.
<br />
<br />/ SO
<br />\/
<br />
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH
<br />POWER OF SALE, THE FOLLOWING:
<br />
<br />Lot Three (3), Block (3), Woodland Park First Subdivision, in the City of Grand
<br />Island, Hall County, Nebraska;
<br />
<br />4179 Texas Ave, Grand Island NE 68803
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof, and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and cooling equipment and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived, all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property".
<br />
<br />This Deed of Trust secures the total sum of Thirty Four Thousand Five Hundred Dollars
<br />($34, 500,00) as evidenced by Borrower's Deed of Trust Note of even date herewith (hereinafter
<br />referred to as "Debt") which has a stated maturity date of March 2,2006. This Debt shall include
<br />any and all modifications, extensions and renewals thereof or thereto and any and all future
<br />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").
<br />
<br />This Deed of Trust secures to Lender the Debt evidenced by said Note, the payment of all
<br />other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performance of Borrower's covenants and agreements.
<br />
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title to the real
<br />estate against the lawful claims of all persons.
<br />
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />
<br />1. Borrower shall pay when due, the principal and interest as provided in said Note.
<br />
<br />2, All payments received by Lender shall be first applied to advances that may have been
<br />made by Lender and then to interest due and last to principal due.
<br />
<br />3. Borrower shall pay all general real estate taxes and special assessments against the
<br />Property before the same become delinquent.
<br />
<br />4. Borrower shall keep the improvements on said Property insured against loss by fire
<br />and hazards included with the term "extended coverage" for their insurable value and policies for
<br />the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
<br />
<br />1
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