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DEED OF TRUST
<br />Loan # 809063
<br />This DEED OF TRUST is made as of the 24th day of May 24, 2005 by and among
<br />the Trustor, Larson Construction, Inc., David L. Larson, President , whose
<br />mailing address for purposes of this Deed of Trust is 505 Linden Ave., Grand
<br />Island, NE 68801 (herein, "Trustor ", whether one or more), the Trustee,
<br />Equitable Federal Savings Bank of Grand Island, NE whose mailing address
<br />is PO Box 160 Grand Island, NE 68802 (herein "Trustee "), and the Beneficiary,
<br />Equitable Federal Savings Bank of Grand Island, whose mailing address is PO Box 160,
<br />Grand Island NE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to Larson Construction, Inc., David L. Larson, President (herein
<br />"Borrower ", whether one or more), and the trust herein created, the receipt of which is hereby
<br />acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and
<br />subject to the terms and conditions hereinafter set forth, legally described as follows:
<br />LOT ELEVEN (11) IN VILLA MAR DEE SUBDIVISION, CITV OF GRAND
<br />ISLAND, HALL COUNTV, NEBRASKA.
<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,
<br />heating and cooling equipment and together with the homestead or marital interests, if any,
<br />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
<br />Deed of Trust and 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
<br />by a Promissory Note dated 5- 24 -05, having a maturity date of 524 -06, in the
<br />original principal amount of Thirty Seven Thousand and No /100 Dollars ($37,000.00),
<br />and any and all modifications, extensions and renewals thereof or thereto and any and all
<br />future advances and readvances to Borrower (or any of them if' more than one) hereunder
<br />pursuant to one or more promissory notes or credit arrangements (herein called "Note "); (b)
<br />the payment of other sums advanced by Lender to protect the security of the Note; (c) the
<br />performance of all covenants and agreements of Trustor set forth herein; and (d) all present
<br />and fi.►ture indebtedness and obligations of Borrower (or any of them if more than one) to
<br />Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that
<br />secure the Note or otherwise executed in connection therewith, including without limitation
<br />guarantees, security agree►neuts and assignments of leases and rents, shall be referred to
<br />herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />I ) 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
<br />Property and warrants that the lien created hereby is a first and prior lien on the Property
<br />Larson DOT.doc I of 6
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<br />DEED OF TRUST
<br />Loan # 809063
<br />This DEED OF TRUST is made as of the 24th day of May 24, 2005 by and among
<br />the Trustor, Larson Construction, Inc., David L. Larson, President , whose
<br />mailing address for purposes of this Deed of Trust is 505 Linden Ave., Grand
<br />Island, NE 68801 (herein, "Trustor ", whether one or more), the Trustee,
<br />Equitable Federal Savings Bank of Grand Island, NE whose mailing address
<br />is PO Box 160 Grand Island, NE 68802 (herein "Trustee "), and the Beneficiary,
<br />Equitable Federal Savings Bank of Grand Island, whose mailing address is PO Box 160,
<br />Grand Island NE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified
<br />herein to Larson Construction, Inc., David L. Larson, President (herein
<br />"Borrower ", whether one or more), and the trust herein created, the receipt of which is hereby
<br />acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and
<br />subject to the terms and conditions hereinafter set forth, legally described as follows:
<br />LOT ELEVEN (11) IN VILLA MAR DEE SUBDIVISION, CITV OF GRAND
<br />ISLAND, HALL COUNTV, NEBRASKA.
<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,
<br />heating and cooling equipment and together with the homestead or marital interests, if any,
<br />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
<br />Deed of Trust and 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
<br />by a Promissory Note dated 5- 24 -05, having a maturity date of 524 -06, in the
<br />original principal amount of Thirty Seven Thousand and No /100 Dollars ($37,000.00),
<br />and any and all modifications, extensions and renewals thereof or thereto and any and all
<br />future advances and readvances to Borrower (or any of them if' more than one) hereunder
<br />pursuant to one or more promissory notes or credit arrangements (herein called "Note "); (b)
<br />the payment of other sums advanced by Lender to protect the security of the Note; (c) the
<br />performance of all covenants and agreements of Trustor set forth herein; and (d) all present
<br />and fi.►ture indebtedness and obligations of Borrower (or any of them if more than one) to
<br />Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that
<br />secure the Note or otherwise executed in connection therewith, including without limitation
<br />guarantees, security agree►neuts and assignments of leases and rents, shall be referred to
<br />herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />I ) 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
<br />Property and warrants that the lien created hereby is a first and prior lien on the Property
<br />Larson DOT.doc I of 6
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