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<br />Space Above This Line For Recording Data
<br />
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />Construction Security Agreement
<br />
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<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is June 7, 2007. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />BIGHORN ENTERPRISES. L.L.C.
<br />A Nebraska Limited Liability Company
<br />3024 Bighorn Place
<br />Grand Island, Nebraska 68803
<br />
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />POBox 430
<br />Kearney, Nebraska 68848
<br />
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />
<br />Lot Eight (8), Block Two (2), Woodland Park Fourth Subdivision, in the City of Grand island, Hall County,
<br />Nebraska
<br />
<br />The property is located in Hall County at 4124 Iowa, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock, crops, timber, all diversion payments or third party payments
<br />made to crop producers and all existing and future improvements, structures, fixtures, and replacements that
<br />may now, or at any time in the future, be part of the real estate described (all referred to as Property). This
<br />Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been
<br />terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone
<br />time will not exceed $160,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. The term "Secured Debts" includes and this Security Instrument will secure each of the
<br />following:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, dated June 7, 2007, from Bighorn Enterprises, L.L.C.
<br />and Sheila K Axford (Borrower) to Lender, with a loan amount of $160,000.00 and maturing on January 7,
<br />2008. One or more of the debts secured by this Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Bighorn Enterprises, L.L.C. and Sheila K Axford to Lender,
<br />even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or of a
<br />different type than this debt. If more than one person signs this Security Instrument, each agrees that it will
<br />secure debts incurred either individually or with others who may not sign this Security Instrument. Nothing
<br />in this Security Instrument constitutes a commitment to make additional or future loans or advances. Any
<br />such commitment must be in writing. In the event that Lender fails to provide any required notice of the
<br />right of rescission, Lender waives any subsequent security interest in the Grantor's principal dwelling that is
<br />created by this Security Instrument. This Security Instrument will not secure any debt for which a non-
<br />possessory, non-purchase money security interest is created in "household goods" in connection with a
<br />"consumer loan," as those terms are defined by federal law governing unfair and deceptive credit practices.
<br />This Security Instrument will not secure any debt for which a security interest is created in "margin stock"
<br />and Lender does not obtain a "statement of purpose," as defined and required by federal law governing
<br />securities.
<br />
<br />Bighorn Enterprises, L.L.C.
<br />Nebraska Deed Of Trust
<br />NE/4XX2B4240000059000055860 19060707Y
<br />
<br />11:>1996 Bankers Systems, Inc., St. Cloud, MN ~
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<br />Initials
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