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<br /> DEED OF TRUST
<br /> (With Future Advance Clause)
<br /> Construction Security Agreement
<br />
<br />
<br />
<br />
<br />DATE AND PARTIES, The date of this Deed Of Trust (Security Instrument) is July 12. 2007. The parties and
<br />their addresses are:
<br />
<br />TRUSTOR (Grantor):
<br />PAMELA L. EHLERS
<br />An unmarried individual
<br />2170 N Monitor Road
<br />Grand Island. Nebraska 68803
<br />
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />POBox 51 68
<br />Grand Island. Nebraska 68803
<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 />The Southerly One Hundred Twenty~Six (126) feet of the Easterly Two Hundred Sixty (260) feet of Lot Six (6),
<br />in Woodland First Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska. Excepting a tract
<br />of land more particularly described in Deed recorded as Document No. 200010612.
<br />
<br />The property is located in Hall County at 2848 S. Locust St, Grand Island, Nebraska 68801.
<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 OBLlGA.TION LIMIT. The total principal amount secured by this Security Instrument at anyone
<br />time will not exceed $285,000.00. 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 July 12, 2007, from Fourth Street Cafe, Inc
<br />and Pamela L. Ehlers (Borrower) to Lender, with a loan amount of $244,000.00, One or more of the debts
<br />secured by this Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Fourth Street Cafe, Inc and Pamela L. Ehlers to Lender, even
<br />if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or of a different
<br />type than this debt. If more than one person signs this Security Instrument, each agrees that it will secure
<br />debts incurred either individually or with others who may not sign this Security Instrument. Nothing in this
<br />Security Instrument constitutes a commitment to make additional or future loans or advances. Any such
<br />commitment must be in writing. In the event that Lender fails to provide any required notice of the right of
<br />rescission, Lender waives any subsequent security interest in the Grantor's principal dwelling that is created
<br />by this Security Instrument. This Security Instrument will not secure any debt for which a non-possessory,
<br />non-purchase money security interest is created in "household goods" in connection with a "consumer loan,"
<br />as those terms are defined by federal law governing unfair and deceptive credit practices, This Security
<br />Instrument will not secure any debt for which a security interest is created in "margin stock" and Lender
<br />does not obtain a "statement of purpose," as defined and required by federal law governing securities.
<br />
<br />Fourth Street Cafe, Inc
<br />Nebraska Deed Of Trust
<br />NE/4XX28424000005900005586025071207Y
<br />
<br />"'1996 Bankers Systems, Inc.. St, Cloud, MN ~
<br />
<br />Initials
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