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<br />~~, DEED OF TRUST
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<br />THIS DEED OF TRUST is made as of the J..kL.. day of U) ,2001, by and among BBRE 't=;
<br />PARTNERSHIP, a Wisconsin general partnership, whose address is Hig~outh, P.O. Box 248, Durand, WI --=>..
<br />54736 ("Trustor"); TIMOTHY L. MOLL, a member of the Nebraska State Bar Association, whose address is 1201 ~
<br />Lincoln Mall, Suite 102, Lincoln, NE 68508 ("Trustee"); and WAYNE O. TANDERUP and JOAN F. TANDERUP,
<br />husband and wife, whose address is 2066 Holdrege Road, Pleasantdale, NE 68423 ("Beneficiary").
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<br />FOR VALUABLE CONSIDERA nON, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, W1TH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of l' rust, the real property legally described as follows (the "Property"):
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<br />Lot Eight (8), in Wildwood Subdivision, Hall County, Nebraska.
<br />
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and
<br />alleys, improvements and buildings of any kind situated thereon, and all personal property that may be or hereafter
<br />become an integral part of such buildings and improvements, all crops raised thereon, and all water and mineral
<br />rights.
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<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate."
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<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) Payment of indebtedness in the total principal amount of Two Million Three Hundred Thousand
<br />Dollars ($2,300,000.oO)~S evidenced by that certain Promissory Note executed by Trustor on even date herewith
<br />with a maturity date of ~Y'" \ , 20.!l (the "Note"), which has been delivered and is payable to the order of
<br />Beneficiary, and which by tRIS reference is hereby made a part hereof, and any and all modifications, extensions and
<br />renewals thereof; and
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<br />(b) Payment of all sums advanced by Beneficiary to protect the Trust Estate.
<br />
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments."
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<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. Pavrnent of Indebtedness; Covenant of Title.
<br />
<br />(a) Trustor shall pay when due the principal of the indebtedness evidenced by the Note,
<br />charges, fees and all other sums as provided in the Loan Instruments.
<br />
<br />(b) Trustor hereby covenants with Beneficiary that Trustor is lawfully seized of the Property
<br />hereby conveyed, that Trustor warrants and will defend the title to the Property against the lawful claims of all
<br />persons whomsoever, that Trustor has the right to grant and convey the Property, and that the Property is
<br />unencumbered by any mortgage, trust deed, contract to purchase, or otherwise. Trustor further covenants to comply
<br />with all the terms and provisions of any prior mortgage, trust deed or contract to purchase, upon the Property and to
<br />make all payments thereon before they become delinquent. Ifno name or amount is inserted in this paragraph, then
<br />Trustor covenants that there are no prior liens of any kind upon the Property.
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