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rv IS) IS) (j) IS) co .p.. co IS) On ~> nCl) ~~ :ra o ;is :z:: ii! G') ,.., .... ~ r- ,.., en m ::::a :$ n 1'\"1 en WHEN RECORDED MAIL TO: HASTINGS STATE BANK MAIN BRANCH 530 N BURLINGTON PO BOX 2178 HASTINGS, NE 68902 ;;0 m "TI c: Z o ~ on %> m (I) 0:1: '" ; "........) 111 ....':.':;,;'11 ('") c/o ~ (:::'::::JI ,.. . ~ 0 ~, C> r,,:J,\\,,- = c: ):,.. f'0 ~ ~;~~ ('\ '" ,:",''J Z ~"! rn \,' --j --1 r-n , ~ar C) -< (~._.., ..,.....r N 0 -n 0",- '1 c.n -,., '''''~. .... .,~ r 0) ~ r:-,: I "j' ...,- 1'1 rr~ :~ -U > ,;1 c:> r11 ,\ :3 I _-'.1 C? (I ,- '- CO Cll (:. en i ~ ~ ^ roo ---- \; :t~ CD N .................. -..J C/) C) ~ en DEED OF TRUST FOR RECORDER'S USE ONLY ,... ') -\ , <:::7" ~ THIS DEED OF TRUST is dated October 24, 2006, among SHAFER PROPERTIES LLC; A limited Liability Company ("Trustor"); HASTINGS STATE BANK, whose address is MAIN BRANCH, 530 N BURLINGTON, PO BOX 2178, HASTINGS, NE 68902 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and HASTINGS STATE BANK, whose address is 530 N. BURLINGTON, HASTINGS, NE 68901 (referred to below as "Trustee"). CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of Lender as Beneficiary, all of Trustor's right. title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL County, State of Nebraska: LOT FOUR (4), CRANE VALLEY 4TH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA The Real Property or its address is commonly known as 1010 N DIERS AVE, GRAND ISLAND, NE 68801. The Real Property tax identification number is 400411407. CROSS-COLLATERALlZATION. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of either Trustor or Borrower to Lender, or anyone or more of them, as well as all claims by Lender against Borrower and Trustor or anyone or more of them, whether now existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or indirect. determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Borrower or Trustor may be liable individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise unenforceable. 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 present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATiONS UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale. PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower and Trustor shall pay to lender all Indebtedness secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default. Trustor may (1) remain in possession and control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property. Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Hazardous Substances. Trustor represents and warrants that the Property never has been, and never will be so long as this Deed of Trust remains a lien on the Property, used for the generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance in violation of any Environmental laws. Trustor authorizes lender and its agents to enter upon the Property to make such inspections and tests as lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust, Trustor hereby (1) releases and waives any future claims against lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any such laws, and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims and losses resulting from a breach of this paragraph of the Deed of Trust. This obligation to indemnify and defend shall survive the payment of the Indebtedness and the satisfaction of this Deed of Trust. DUE ON SALE - CONSENT BY lENDER. Lender may, at lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract. contract for deed, leasehold interest with a term greater than three (3) years, lease~option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. If any Trustor is a corporation, partnership or limited liability company, transfer elso includes any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Trustor. However, this option shall not be exercised by lender if such exercise is prohibited by federal law or by Nebraska law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust: Payment. Trustor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, ass,e$Smentli, ;GP~rges (including , ,.. " l iI '} ..)