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r 88- 100020 (Grand Island) REVOLVING LOAN DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT REVOLVING LOAN DEED OF TRUST, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT ("Deed of Trust") dated as of December 3ll , 1987, made by and between ELLIOT SUPPLY, INC. ("Mortgagor"),-a Nebraska corporation, the successor by merger of Capitol Supply Company ("Capi tol" ), having its principal place of business and chief executive office at 4301 Industrial Avenue, Lincoln, Nebraska 68501, Leroy Scott. Owens, having a business address at 202 South 19th Street, Omaha, Nebraska 68102 ("Trustee") for the benefi t of WASHINGTON SQUARE CAPITAL, INC. ("Beneficiary"), as beneficiary, a Minnesota corporation having its principal offices at 512 Nicollet Mall, Suite 440, Minneapolis, Minnesota 55440. R E C I TAL S: Whereas, Mortgagor is the owner (i) in fee simple absolute of the real property described in Exhibit A attached hereto and incorporated herein by this reference, (ii) of the landlord I s interests in the Leases (as hereinafter defined) and (iii) of the Improvements and Personal Property (each as hereinaf- ter defined); \ihereas, Mortgagor, Chesen Investment Company and Beneficiary have entered into a certain Loan and Security Agree- ment (the "Loan Agreement") dated as of even date herewith, with Mortgagor as "Borrower"; Whereas, pursuant to the Loan Agreement, the Mortgagor has agreed to borrow and the Mortgagee has agreed to lend, subject to all the terms and conditions of the Loan Agreement, an amount not to exceed Seven Million Dollars ($7,000,000.00) (the "LOan"); Whereas, the Loan is in the form of a revolving credit loan (the "Loan") under which advances, payments and readvances may be made from time to time in a principal amount not to exceed at any time outstanding Seven Million Dollars ($7,000,000.00) and evidenced by a note entitled "Revolving Loan Note" of even date herewith, (the "Note"). The maturity date of the Note is December , 1992. The Note bears interest at an adjustable rate as therein provided or as provided in the Loan Agreement; Whereas, this Deed of Trust is being given by Mortgagor to secure (i) payment by Mortgagor of all principal, interest and other sums due or to become due in respect of the Loan, including but not limited to future advances; (ii) the payment of any further or subsequent advances made to preserve the lien of this Deed of' Trust; and (iii) performance of all of the terms, cove- nants, conditions, agreements and liabilities contained in this Deed of Trust and the Loan Agreement. All of the foregoing payment and performance obligations in clauses (i), (ii) and (iii) L L L "'~ ,-- -.J / ~