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<br />88- 101240
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<br />a replat of Lots 5, 6, and 7, Block 79, Original Town of Grand
<br />Island, Nebraska, and filed in the Register of Deeds Office for
<br />Hall County, Nebraska (Document Number 86-105248) ("Parking Lot
<br />Trust Deed") which Parking Lot Trust Deed secured the indebted-
<br />ness and obligations evidenced by the Original Promissory Note
<br />and Second Promissory Note~
<br />
<br />WHEREAS, Borrower, as Trustor, executed a Trust Deed dated
<br />September 11, 1986 and recorded as Document Number 86-105249,
<br />with Lender as Trustee and Beneficiary on the Condominium Units
<br />001 and 002 which are further described on Exhibit "A", which is
<br />filed in the Register of Deeds Office for Hall County, Nebraska
<br />("Lower Level Trust Deed") which Lower Level Trust Deed secured
<br />the indebtedness and obligations evidenced by the Original
<br />Promissory Note and Second Promissory Note~
<br />
<br />
<br />WHEREAS, a Second Amendment To Declaration To The Yancey, a
<br />Condominium was executed on December 20, 1986 and recorded as
<br />Document Number 86-107514, which among other things subdivided
<br />Unit 101 into Unit 101 and Unit 102, change the condominium
<br />number of Unit 102 to Unit 103, change the condominium number of
<br />103 to 104, and subdivided Unit 201 into 20lA, Unit 20lB, Unit
<br />20lC and Unit 201D ("Second Amendment To Declaration"), which
<br />Second Amendment to Declaration is incorporated herein by this
<br />reference~
<br />
<br />WHEREAS, Borrower, on December 31, 1986, with Lender's con-
<br />sent, sold and transferred all of its interest (said interest
<br />being a leasehold estate) in the real estate which is subject to
<br />the Parking Lot Trust Deed to Artvest III, a Nebraska general
<br />partnership ("Artvest")~
<br />
<br />WHEREAS, Lender, as security for a loan to Artvest, also
<br />obtained a subordinate assignment and deed of trust from Artvest
<br />of and on Artvest's interest in the leasehold estate on the real
<br />estate subject to the Parking Lot Trust Deed~
<br />
<br />WHEREAS, Borrower paid to Lender on December 31, 1986 the sum
<br />of $462,492.00 which was all the then outstanding indebtedness
<br />represented by the "Original" Promissory Note~
<br />
<br />WHEREAS, Borrower paid to Lender on December 31, 1986 the sum
<br />of $535,000 which was applied to the outstanding indebtedness
<br />represented by the Second Promissory Note;
<br />
<br />WHEREAS, Lender executed and delivered to Borrower a Partial
<br />Deed of Reconveyance, dated December 31, 1986 and recorded as
<br />Document Number 86-107518, which released Units No. 201A, 402,
<br />403, 405, 502, 505, 601, 605, 702, 801 and 1001;
<br />
<br />WHEREAS, Lender executed and delivered to Borrower a Partial
<br />Deed of Reconveyance, dated December 31, 1986 and recorded as
<br />Document Number 86-107519, which released Unit No. 602;
<br />
<br />WHEREAS, Borrower and Lender executed the Seventh Modifi-
<br />cation of Loan Documents dated as of March 19, 1987 (Document
<br />Number 87-101900) which, among other things, reduced the face
<br />amount and extended the maturity date of the Second Promissory
<br />Note to December 31, 1987;
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<br />WHEREAS, Borrower and Lender executed the Third Amendment and
<br />Restatement of the FirsTier Bank, National Association, Lincoln,
<br />Nebraska, Construction Loan Agreement, dated as of March 18,
<br />1987, \'1hich is incorporated herein by this reference ("Third
<br />Amendment to Construction Loan Agreement");
<br />
<br />WHEREAS, Arter executed a Fifth Arter Guarantee, dated as of
<br />March 18, 1987 ("Fifth Guarantee") in favor of the Lender or the
<br />holder of the Second Promissory Note, which is incorporated
<br />herein by this reference;
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<br />WHEREAS, a Third Amendment to Declaration To The Yancey, a
<br />Condominium was executed on July 28, 1987 and recorded as
<br />Document Number 87-104543, which among other things allocated
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