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<br />200702694
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<br />DEED OF TRUST AND SECURITY AGREEMENT
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<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT AND SECURES
<br />AN OBLIGATION WHICH THE TRUSTOR INCURRED OR WILL INCUR FOR THE PURPOSE OF
<br />MAKING AN IMPROVEMENT TO THE REAL ESTATE IN WHICH THE SECURITY INTEREST IS
<br />GIVEN THAT IS A CONSTRUCTION SECURITY INTEREST.
<br />
<br />THIS DEED OF TRUST, is made as of the 3rd day of April, 2007, by and
<br />among, Gary Rikli, a single person, ("Trustor"), whose mailing address is 2107
<br />N. Lafayette, Grand Island, NE 68803; Gary D. Byrne, a member of the Nebraska
<br />State Bar Association ("Trustee"), whose mailing address is P.O. Box 929, North
<br />Platte, NE 69103-0929 and Competitive Mortgage, Inc., ("Beneficiary"), whose
<br />mailing address is 3421 West State Street, Suite 4, Grand Island, NE 68803.
<br />
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys
<br />and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Beneficiary, under and subject to the terms and conditions of this
<br />Deed of Trust, the real property described as follows (the "property"):
<br />
<br />The North Forty-four and Five Tenths (44.5) feet of Lot Fourteen
<br />(14), Block One (1), Scarff's Addition to West Lawn, Grand Island,
<br />Hall County Nebraska
<br />
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, all improvements and
<br />buildings of any kind now or hereafter situated thereon and all personal
<br />property that may be or hereafter become an integral part of such buildings and
<br />improvements including, but not limited to, all building materials stored on
<br />the Property, goods, machinery, tools, equipment (including fire sprinklers and
<br />alarm systems, air conditioning, heating and refrigerating equipment, and all
<br />other equipment of every kind) and all water rights.
<br />
<br />The Property and the entire estate and interest conveyed to the
<br />Trustee are referred to collectively as the "Trust Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness in the total principal amount of
<br />$50,000.00, with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note") with a maturity date of August 3, 2007, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary,
<br />and which by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and
<br />
<br />b. Payment of all sums advanced by Beneficiary to protect the
<br />Trust Estate, with interest thereon at the rate of 9.9% per annum, and
<br />
<br />c. The performance of Trustor's covenants and agreements under the
<br />building loan agreement, deeds of trust, security agreements and assignments of
<br />rents, notices of commencement which evidence and secure these covenants and
<br />agreements, all of which instruments, together with the Note, are herein
<br />collectively referred to as the "Loan Instruments".
<br />
<br />To the extent that the Property and any improvements thereon
<br />constitute fixtures, this instrument shall be filed in the real estate records
<br />in the county in which the Property is located and be deemed a fixture filing.
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. PAYMENT OF SECURED OBLIGATION. This Deed of Trust shall
<br />secure the following indebtedness and obligations: (1) indebtedness evidenced
<br />by the "Note" and payment of all other indebtedness in the performance of all
<br />obligations and covenants of Trustor under each of the Loan Instruments and
<br />payment of all of the principal of and interest on any future advances under
<br />the Loan Instruments and all sums advanced by Beneficiary to protect the
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