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<br />
<br />WHEN RECORDED MAil TO:
<br />Citizens Equity First Credit Union
<br />Business Services Department
<br />7900 N. University
<br />Peorla.IL 61615 FOR RECORDER'S USE ONLY
<br />
<br />
<br />-ell-DEED OF TRUST ~
<br />
<br />THIS DEED OF TRUST is dated August>>, 2007, among Bradley W. Barrow, not personally but as Trustee on ' ~
<br />
<br />behalf of MHEC land Trust VI, whose address is 2001 E. Hartman Road, Chllllcothe, Il 61523 ("Trustor");
<br />
<br />Citizens Equity First Credit Union, whose address Is Business Services Department, 7900 N. University,
<br />
<br />Peoria, Il 61615 (referred to below sometimes as "lender" and sometimes as "Beneficiary"); and Tlcor
<br />
<br />Title Insurance, whose address is 106 W. 11th Street, Kansas City, MO 64105 (referred to below as
<br />
<br />"Trustee").
<br />
<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 rights and
<br />ditch rights (including stock in utilities with ditch or irrigation rights); and all other r!ghts, r~alties, and profits relating to the real..property, including
<br />without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real property"] located in Hall County, State of
<br />
<br />Nebraska:
<br />
<br />lot One (1), Westgate Seventh Subdivision, City of Grand Island, Hall County, Nebraska.
<br />
<br />The Real Property or its address Is commonly known as 3715 West Old Potash Highway, Grand Island, NE.
<br />
<br />The Real Property tax identification number Is 400367815.
<br />
<br />CROSS-COLLATERALlZATlON. In addition to the Note, this Deed of Trust secures all obligations, debts and liabilities, plus interest thereon, of
<br />Trustor to lender, or anyone or more of them, as well as all claims by Lender against Trustor or anyone or more of them, whether now existing
<br />or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwise, whether due or not due, direct or
<br />indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Trustor may be liable individually or jointly with
<br />others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon such amounts may be or hereafter
<br />may become barred by any statute of limitations, and whether the obligation to repay such amounts may be or hereafter may become otherwise
<br />unenforceable.
<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 present
<br />and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial Code security
<br />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 THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOllOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to Lender all amounts secured by this
<br />Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this Deed of Trust,
<br />and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be governed
<br />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; (2)
<br />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 />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental Laws. Trustor represents and warrants to Lender that: (1) During the period of Trustor's ownership of
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