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<br />200511354
<br />
<br />DEED OF TRUST
<br />and
<br />ABSOLUTE ASSIGNMENT OF RENTS AND
<br />LEASES
<br />and
<br />SECURITY AGREEMENT
<br />(AND FIXTURE FILING)
<br />
<br />The parties to this DEED OF TRUST and ABSOLUTE ASSIGNMENT OF RENTS AND LEASES and
<br />SECURITY AGREEMENT (AND FIXTURE FILING) ("Security Instrument"), dated as of November 14. 2005,
<br />are 281 & OLD POTASH II LLC, a Nebraska limited liability company ("Trustor"), with a mailing address at clo
<br />Edgemark Development LLC, 410 17Th Street, Suite 1705, Denver, Colorado 80202; COMMONWEALTH LAND
<br />TITLE ("Trustee") with a mailing address at 2019 Walton Road, S1. Louis, Missoui 63114; and MORTGAGE
<br />ELECTRONIC REGISTRATION SYSTEMS, INC., a Delaware corporation ("MERS" or "Beneficiary"), as
<br />nominee for Lender (defined below), with a mailing address at MERS Commercial, P. O. Box 2300, Flint,
<br />Michigan 45801-2300.
<br />
<br />RECITALS
<br />
<br />A. 281 & OLD POTASH II LLC, a Nebraska limited liability company ("BorrOWer") proposes to borrow from
<br />Wells Fargo Bank, National Association ("Lender") and Lender proposes to lend to Borrower, the principal
<br />sum of THREE MILLION SIX HUNDRED FIFTY THOUSAND AND NO/lOOTHS DOLLARS
<br />($3.650,000.00) ("Loan"). The Loan is evidenced by a promissory note ("Note") executed by Borrower,
<br />dated the date of this Security Instrument, payable to the order of Lender in the principal amount of the Loan.
<br />The final Maturity Date ofthe Loan is December 1. 2015.
<br />
<br />B. The loan documents include this Security Instrument, the Note and the other documents described in the Note
<br />as Loan Documents ("Loan Documents").
<br />
<br />ARTICLE 1. SECURITY INSTRUMENT
<br />
<br />1.1 GRANT. For the purposes of and upon the terms and conditions of this Security Instrument, Borrower
<br />irrevocably grants, conveys and assigns to Trustee, in trust for the benefit of Lender, WITH POWER OF
<br />SALE and right of entry and possession, all estate, right, title and interest which Borrower now has or may
<br />hereafter acquire in, to, under or derived from any or all of the following:
<br />
<br />a. That real property ("Land") located in the County of Hall, State of Nebraska and more particularly
<br />described on Exhibit A attached hereto;
<br />
<br />b. All appurtenances, easements, rights of way, water and water rights, (including but not limited to
<br />wells, canals, and reservoirs) pumps, pipes, flumes and ditches and ditch rights, water stock, ditch
<br />andlor reservoir stock or interests, royalties, development rights and credits, air rights, minerals, oil
<br />rights, and gas rights, and any fixtures or evidence related thereto, whether now or later used or useful
<br />in connection with, appurtenant to or related to the Land, whether appropriated or unappropriated,
<br />tributory or non-tributory, and decreed or undecreed;
<br />
<br />MuSler SI REG NE (rev. 08/2005)
<br />1245359.6
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