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<br />DEED OF TRUST
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<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is June28, 2006. The parties and a
<br />their addresses are:
<br />TRUSTOR (Grantorl:
<br />KERSHNER PROPERTIES, L.L.C.
<br />A Nebraska Limited Liability Company
<br />1115 West 41 st St.
<br />Kearney, Nebraska 68845
<br />TRUSTEE:
<br />PLATTE VAllEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />PO Box 430
<br />Kearney, Nebraska 68848
<br />BENEFICIARY (lender):
<br />PLATTE VAllEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave.; PO Box 430
<br />Kearney, Nebraska 68848-0430
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of lender, with power of sale, the following
<br />described property:
<br />
<br />The North 11 feet of lot 23 and the South 49 feet of lot 22 and the North 60 feet of lot 22, of Holcomb's
<br />Highway Homes Subdivision, in the City of Grand Island, Hall County, Nebraska, EXCEPT a tract of land more
<br />particularly described in Deed recorded in the Register of Deeds Office as Document 2000-10623.
<br />
<br />The property is located in Lincoln County at 2504 South locust St., Grand Island, NE 68801.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been terminated in writing by lender.
<br />2. MAXIMUM OBLIGATIO,,! LIMIT. The total principal amount secured by this Security Instrument at anyone
<br />time will not exceed $1,640,500.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument will secure each of the
<br />following:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. Promissory notes or other agreements, No. 311883-100 and 311883-101, dated June 28,
<br />2006, from Kershner Properties, L.L.C., Central Nebraska Management, Inc., Kevin W Kershner and Julie R
<br />Kershner (Borrower) to lender.
<br />B. Sums Advanced. All sums advanced and expenses incurred by lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br />with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br />record.
<br />6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prior security interest or encumbrance on the Property I Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to lender any notices that Grantor receives from the holder.
<br />
<br />Kershner Properties, L.L.C.
<br />Nebraska Deed Of Trust
<br />NE/4XX28319000937100005187047062606Y
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<br />@1996 Bankers Systems. Inc., St. Cloud. MN ~
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