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<br />
<br />WHEN RECORDED MAil TO:
<br />CORNERSTONE BANK
<br />Main Bank Facility
<br />529 Lincoln Avenue
<br />P.O. Box 69
<br />York, NE 68467
<br />
<br />FOR HECORDER'S..USE ONLY
<br />
<br />DEED OF TRUST C~
<br />
<br />THIS DEED OF TRUST is dated September 21, 2007, among Concord Hospitality, Inc. for the benefit of ~
<br />Concord Neighborhood, Corp.; A Nebraska Corporation ("Trustor"); CORNERSTONE BANK, whose address is ...)
<br />Main Bank Facility, 529 Lincoln Avenue, P.O. Box 69, York, NE 68467 (referred to below sometimes as
<br />"lender" and sometimes as "Beneficiary"); and CORNERSTONE BANK, whose address is 529 LINCOLN
<br />AVENUE, YORK, NE 68467 (referred to below as "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 proPElrty, together,with1all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />County, State of Nebraska:
<br />
<br />lot Two (2), Block One (1), Crane Valley, in the City of Grand Island, HallC6unty~ Nebr~ska
<br />
<br />The Real Property or its address is commonly known as 712 Diers Avenue, Grand Island, NE 68510.
<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
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to lender a Uniform Commercial
<br />Code security interest in the P~,~v"yl P,v~ and Rents. t>W ~
<br />
<br />THIS DEED OF TRUST,INCLUDING THIS'Jf~IG~T OF RENTS AND THE SECURITY INTEREST IN THE RENTS ANI:' f't:R36N~~
<br />PR8P[RTY. IS GIVEN TO SECURE IA) PAYMENT OF THE INDEBTEDNESS AND IB) PERFORMANCE OFAN)' AND All OBLIGATIONS
<br />UNDER THE NOTE. THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS G1VEitj AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and
<br />not at the request of lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; (c) the provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower).
<br />r p ,. ,
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one ac1:ion" or "anti-deficiency" law, or any other
<br />law which may prevent lender from bringing any action against Trustor, including a claim for deficiency to the extent lender is otherwise
<br />entitled to a claim for deficiency, before or after lender's commencemant or completion of any foreclosure action, either judicially or by
<br />exercise of a power of sala.
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to lender all Indebtedness
<br />secured by this Deed of Trust as it becomes due, and Borrower and Trustor shall perform all their respective obligations under the Note,
<br />this Deed of Trust. and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Trustor agree that Borrower's and Trustor's possassion and use of
<br />the Property shall be governed by the following provisions:
<br />
<br />Possession and USB. Until tha occurrence of an Event of Default, Trustor may (1) remain in possession and control of tha Property;
<br />(2) use, op~ 08~~:~e ~ert)lj M (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain~rustor shall main~ne"Property in tenantable condition and promptly perform all repairs, raplacements, and
<br />rrai.ntenance necessary to pr~[Wil. its ~Iue. ~..l ~
<br />'.' . ' ... \.I"'" . \ I OVt"OW<<.r Q,or;JI
<br />Compliance With."Environmental laws" rustor reprasents a ants to lender 1h,at: (1) During t~e period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release (>>". threatened release of any
<br />Hazardous Substar'l6e by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or rllason to believe
<br />that there has been, except as previously disclosed to and acknowledged by lender in writing, (a) any breach or violation of any
<br />Environmental laws, (b) any use, generation, manufacture, storage, treatment, disposal, ralease or threatened release of any
<br />Hazardous Substanca on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such mattars; and (3) Except as previously disclosed to and
<br />acknowledged by lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the PropertY'
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;, ','
<br />and (b) any such activity shall be conducted in compliance with all applicable fedaral, state, and local laws, regulations and
<br />ordinances, including without limitation all Environme~K~ Trustor authorizes lender and its agents to enter upon the Property
<br />to make such inspections and tests, lit TIl:lstsl' II !ll~ a~'lrnder may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by lender shall ba for lender's purposes only and shall not be
<br />construad to create any responsibility or liability on the part of lender to Trustor or to any other person. The rapresentations and
<br />warranties contained herein are based on Trustor's due diliger ce in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against ler der for indemnity or contribution in the event Trustor becomes liable fo~
<br />, . cleanup or other costs under any such laws; and (2) agrees 0 indemnify, defend, and hold harmless lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses v hich lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this saction of the Deed of Trust or as a consequer ~e of any use, generation, manufacture, storage, disposal, release or .
<br />threatened release occurring prior to Trustor's ownership or i Iterest in the Property, whether or not the same was or should hava
<br />been known to Trustor. The provisions of this section of thE Oeed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfactior and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by lender's acquisition of any intarest in the Propel y, whether by foreclosure or otherwise.
<br />
<br />"
<br />
<br />, .
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