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<br />WHEN RECORDED MAIL TO:
<br />Geneva State Bank
<br />P.O. Box 313
<br />896 G Street
<br />Geneva, NE 68361
<br />
<br />DEED OF TRUST
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<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $293,000.00.
<br />
<br />THIS DEED OF TRUST is dated December 21,2005, among Shafer Properties. LLC, whose address is 1004 N
<br />
<br />Diers Ave., Suite #300, Grand Island, NE 68803; a Nebraska Limited Liability Company ("Trustor"); Geneva
<br />
<br />State Bank, whose address is P.O. Box 313, 896 G Street, Geneva, NE 68361 (referred to below sometimes
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<br />as "Lender" and sometimes as "Beneficiary"); and GENEVA STATE BANK, whose address is P.O. Box 313.
<br />
<br />Geneva, NE 68361 (referred to below as "Trustee").
<br />
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />
<br />County, State of Nebraska:
<br />
<br />Tract 1: Lot 3, Crane Valley 4th Subdivision, in the City of Grand Island, Hall County, Nebraska. (920 Diers
<br />
<br />Ave.)
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<br />Tract 2: Lot 4, Crane Valley 4th Subdivision, in the City of Grand Island, Hall County, Nebraska. (1010
<br />
<br />Diers Ave.)
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<br />The Real Property or its address is commonly known as 920 and 1010 Diers Avenue, Grand Island, NE
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<br />68803. The Real Property tax identification number is 400411393 & 400411407.
<br />
<br />CROSS-COLLATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest
<br />thereon, of Trustor to Lender, or anyone or more of them, as well as all claims by Lender against Trustor or anyone or more of them,
<br />whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise,
<br />whether due or not due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated whether Trustor
<br />may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether
<br />recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay
<br />such amounts may be or hereafter may become otherwise unenforceable.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Trustor whether or not the
<br />advances ere made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loanto Trustor, together with all interest thereon; however, in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $293,000.00.
<br />
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN. AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
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<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
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<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
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<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there has been, except as previously disclosed to.and acknowledged by Lender in writing, (a) any breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufactu~, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property~by,,<tny prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to"gUch,ml;l.t.ters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental Laws. Trustor authorizes Lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
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