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<br />WHEN RECORDED MAil TO:
<br />Five Points Bank. . ~ _
<br />North Branch Po B 0;( 1<:::> () ?
<br />2015 North Broadwell
<br />Grand Island. NE 68803
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<br />CONSTRUCTION DEED OF TRUST
<br />
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at anyone time $245,000.00.
<br />
<br />THIS DEED OF TRUST is dated January 25, 2007, among HASTINGS VENTURES llC; A NEBRASKA LIMITED
<br />
<br />LIABILITY COMPANY ("Trustor"); Five Points Bank, whose address is North Branch, 2015 North Broadwell,
<br />
<br />Grand Island, NE 68803 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Five
<br />
<br />Points Bank, whose address is P.O Box 1507, Grand Island, NE 68802-1507 (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 />lOT ONE (1), BLOCK THREE (3), WOODLAND PARK SECOND SUBDIVISION TO THE CITY OF GRAND
<br />
<br />ISLAND, HAll COUNTY, NEBRASKA
<br />
<br />The Real Property or its address is commonly known as 4195 MICHIGAN AVE, GRAND ISLAND, NE 68803.
<br />
<br />CROSS-COLLATERALlZATlON. 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 are 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 loan to Trustor, together with all interest thereon; however. in no
<br />event shall such future advances (excluding interest) exceed in the aggregate $245,000.00.
<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 IAI PAYMENT OF THE INDEBTEDNESS AND IBI PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT
<br />OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY. IS ALSO GIVEN TO SECURE ANY AND ALL OF
<br />TRUSTOR'S OBLIGATIONS UNDER THAT CERTAIN CONSTRUCTION LOAN AGREEMENT BETWEEN TRUSTOR AND LENDER OF EVEN
<br />DATE HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT. OR ANY OF THE RELATED DOCUMENTS
<br />REFERRED TO THEREIN. SHALL ALSO BE AN EVENT OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND
<br />ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by
<br />
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