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<br />200606980
<br />
<br />Thirty-Five (135), One Hundred Thirty-Six (136), One Hundred Thirty-Seven
<br />(137), One Hundred Thirty-Eight (138), One Hundred Thirty-Nine (139), One
<br />Hundred Forty (140), One Hundred Forty-One (141), One Hundred Forty-Two
<br />(142), Outlots A and B, of LARUE Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska;
<br />
<br />AND
<br />
<br />Parcel 2: The East Half of the Northwest Quarter (El/2NWl/4) of Section
<br />Thirteen (13), Township Eleven (11) North, Range Ten (10) West ofthe 6th P.M.,
<br />Hall County, Nebraska excepting certain tracts more particularly described in
<br />Document No. 96-101428; Document No. 97-101671; DocumentNo. 84-006733
<br />and Document No. 200603281;
<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 shall secure (a) the payment of the principal sum and interest
<br />evidenced by a Construction Line of Credit Draw Note dated August 4, 2006, having a maturity
<br />date of July 31,2009, in the original principal amount of Three Million and Noll 00 Dollars
<br />($3,000,000.00) and any and all modifications, extensions and renewals thereof or thereto and
<br />any and all future advances and readvances to Borrower (or any of them ifmore than one) here-
<br />under pursuant to one or more promissory notes or credit agreements (herein called "Note");
<br />(b) 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 and
<br />future indebtedness and obligations of Borrower (or any of them if more than one) to Lender
<br />whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft
<br />or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note
<br />or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and assignments ofleases and rents, shall be referred to herein as the "Loan
<br />Instruments" .
<br />
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />
<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 and the
<br />execution and delivery of the Deed of Trust does not violate any contract or other obligation to
<br />which Trustor is subject.
<br />
<br />3. Taxes. Assessments. To pay, before delinquent, all taxes, special assessments and all
<br />other charges against the Property now or hereafter levied.
<br />
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with
<br />the term "extended coverage" and such other hazards as Lender may require in amounts and with
<br />companies acceptable to Lender, naming Lender as an additional named insured with loss
<br />payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust,
<br />
<br />2
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