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<br />WHEN RECORDED MAIL TO:
<br />Commerce Bank, N.A.
<br />Attn: Collateral KCCC
<br />1000 Walnut, 3rd Floor
<br />Kansas City, MO 64106
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<br />FOR RECORDER'S USE ONLY
<br />
<br />MORTGAGE
<br />
<br />MAXIMUM LIEN. The lien of this Mortgage shall not exceed at anyone time $400,000.00.
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<br />THIS MORTGAGE dated July 30, 2007, is made and executed between 4503 LLC, whose address is 4503 E.
<br />
<br />47th Street South, Wichita, KS 67210 (referred to below as "Grantor") and Commerce Bank, N.A., whose
<br />
<br />address is 1551 N. Waterfront Parkway, Wichita, KS 67206 (referred to below as "Lender").
<br />
<br />GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to Lender all of Grantor's right, title, and interest in
<br />and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and
<br />fixtures; all easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities
<br />with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all
<br />minerals, oil. gas, geothermal an(j similar matters. (the" Real Property") located in Hall County, State of Nebraska:
<br />
<br />Lot Two (2), Bosselman Third Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address is commonly known as 2960 N. Diers Ave. , Grand Island, NE 68803.
<br />
<br />CROSS-COLLA TERALlZA TION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of
<br />Grantor to Lender, or anyone or more of them, as well as all claims by Lender against Grantor or anyone or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not
<br />due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
<br />such amounts may be or hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts
<br />may be or hereafter may become otherwise unenforceable.
<br />
<br />Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all
<br />Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and
<br />Rents.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Mortgage secures all future advances made by Lender to Grantor whether or not the
<br />advances are made pursu(lnt to a commitment. Specifically, without limitation, this Mortgage secures, in addition to the amounts
<br />specified in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon.
<br />
<br />THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
<br />IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE
<br />NOTE, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this
<br />Mortoage as they become due and shall strictly perform all of Grantor's obligations under this Mortga(:Je.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Grantor 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. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of. or reason to believe
<br />that there has been, except as previously disclosed to (lnd acknowledged by Lendor in writing, (a) (lny breach or violation of any
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