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<br />WHEN RECORDED MAIL TO:
<br />HASTINGS STATE BANK
<br />MAIN BRANCH
<br />530 N BURLINGTON
<br />PO BOX 2178
<br />HASTINGS. NE 68902
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<br />FOR RECORDER'S USE ONLY
<br />
<br />THIS DEED OF TRUST is dated May 1, 2007, among CHLONA TE, LLC; A Nebraska Limited liability Company
<br />("Trustor"); HASTINGS STATE BANK, whose address is MAIN BRANCH, 530 N BURLINGTON, PO BOX 2178,
<br />HASTINGS, NE 68902 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />HASTINGS STATE BANK, whose address is 530 N. BURLINGTON, HASTINGS, NE 68901 (referred to below
<br />as "Trustee").
<br />
<br />DEED OF TRUST
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<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 />PART OF LOT ONE (1), DESERT ROSE SUBDIVISION, CITY OF GRAND ISLAND, HALL COUNTY,
<br />
<br />NEBRASKA MORE PARTICULARLY DESCRIBED AS FOLLOWS:
<br />
<br />A TRACT OF LAND IN THE SOUTH ONE-HALF (S1/2) OF THE SOUTHWEST QUARTER OF THE
<br />
<br />SOUTHWEST QUARTER (SW1/4 SW1/4) OF SECTION TWENTY SEVEN (27). TOWNSHIP ELEVEN (11)
<br />
<br />NORTH RANGE NINE (9) WEST OF THE 6TH P.M" HALL COUNTY, NEBRASKA, MORE PARTICULARLY
<br />
<br />DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID SOUTHWEST
<br />
<br />QUARTER OF THE SOUTHWEST QUARTER (SW1/4 SW1/4) AND RUNNING EASTERLY ON THE
<br />
<br />SOUTHERLY LINE OF SAID SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER (SW1/4 SW1/4) A
<br />
<br />DISTANCE OF THREE HUNDRED SEVENTY-FIVE (375) FEET; THENCE DEFLECTING LEFT 900 38' AND
<br />
<br />RUNNING NORTHERLY A DISTANCE OF ONE HUNDED THIRTY AND TEN HUNDREDTHS (130.10) FEET
<br />
<br />TO THE ACTUAL POINT OF BEGINNING; THENCE DEFLECTING LEFT 620 31' AND RUNNING
<br />
<br />NORTHWESTERLY A DISTANCE OF ONE HUNDRED SEVENTY-FOUR AND FORTY HUNDREDTHS (174.40)
<br />
<br />FEET; THENCE DEFLECTING RIGHT 210 7' AND RUNNING NORTHWESTERLY A DISTANCE OF ONE
<br />
<br />HUNDRED NINETY-THREE AND FORTY HUNDREDTHS (193.40) FEET; THENCE DEflECTING RIGHT 150 7'
<br />
<br />AND RUNNING NORTHWESTERLY A DISTANCE OF SIXTY-ONE AND THIRTY HUNDREDTHS (61.30)
<br />
<br />FEET; THENCE DEflECTING RIGHT 220 40' AND RUNNING NORTHERLY A DISTANCE OF TWO HUNDRED
<br />
<br />FIFTY-THREE (253) FEET, THENCE RUNNING EASTERLY A DISTANCE OF THREE HUNDRED
<br />
<br />TWENTY-FIVE (325) FEET TO A POINT BEING SIX HUNDRED FIFTY-FOUR AND EIGHTY HUNDREDTHS
<br />
<br />(654.80) FEET NORTHERLY OF THE SOUTHERLY LINE OF SAID SOUTHWEST QUARTER OF THE
<br />
<br />SOUTHWEST QUARTER (SW1/4 SW1/4); THENCE RUNNING SOUTHERLY A DISTANCE OF FIVE
<br />
<br />HUNDRED TWENTY-FOUR AND SEVENTY HUNDREDTHS (524.70) FEET TO THE ACTUAL POINT OF
<br />
<br />BEGINNING EXCEPT THAT PORTION DEEDED TO THE CITY OF GRAND ISLAND, NEBRASKA AS
<br />
<br />CONTAINED IN DEED RECORDED SEPTEMBER 19, 2000 AS INSTRUMENT NO. 2000-07698, RECORDS
<br />
<br />OF HALL COUNTY, NEBRASKA.
<br />
<br />The Real Property or its address is commonly known as 3235 S LOCUST, GRAND ISLAND, NE 68801.
<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 (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor. including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after lender's commencement or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sale.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possession and use of
<br />the Property shall be governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use. operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />
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