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<br />
<br />DEED OF TRUST
<br />
<br />3 l'o 0
<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is April 23, 2007. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />MICHAEL T LEAMAN
<br />Spouse of Ralisa E Leaman
<br />2829 Fort Worth Ave
<br />Grand Island, Nebraska 68803
<br />RALlSA E LEAMAN
<br />Spouse of Michael T Leaman
<br />husband and wife
<br />2829 Fort Worth Ave
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />POBox 51 68
<br />Grand Island, Nebraska 68802
<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 />Lots 4 and 5, Block 17, Bakers Addition to the City of Grand Island, Hall County, Nebraska
<br />
<br />The property is located in County at 2219 W 2nd St, 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 $250,000.00. 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, No. 267115-100, dated April 23, 2007, from Auto
<br />Town, Inc., Michael T Leaman and Ralisa E Leaman (Borrower) to Lender, with a loan amount of
<br />$250,000.00.
<br />B. All Debts. All present and future debts from Auto Town, Inc., Michael T Leaman and Ralisa E Leaman to
<br />Lender, even if this Security Instrument is not specifically referenced, or if the future debt is unrelated to or
<br />of a different type than this debt. If more than one person signs this Security Instrument, each agrees that it
<br />will secure debts incurred either individually or with others who may not sign this Security Instrument.
<br />Nothing in this Security Instrument constitutes a commitment to make additional or future loans or
<br />advances. Any such commitment must be in writing. In the event that Lender fails to provide any required
<br />notice of the right of rescission, Lender waives any subsequent security interest in the Grantor's principal
<br />dwelling that is created by this Security Instrument. This Security Instrument will not secure any debt for
<br />which a non-possessory, non-purchase money security interest is created in "household goods" in connection
<br />with a "consumer loan," as those terms are defined by federal law governing unfair and deceptive credit
<br />practices. This Security Instrument will not secure any debt for which a security interest is created in
<br />
<br />Auto Town, Inc.
<br />Nebraska Deed Of Trust
<br />NE/4XX28333000005900005586016051007Y
<br />
<br />@1996 Bankers Systems, Inc., St. Cloud, MN ~
<br />
<br />Initials
<br />Page 1
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