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<br />200708621
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<br />TRUST DEED
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<br />This Trust Deed is executed on the date shown on the last page, among the "Trustor", Grand Island Area Economic Development
<br />Corporation, 308 N. Locust Street, Grand Island, NE 68801, hereinafter called the "Borrower" (whether one or more) and Wesley D. Nespor,
<br />Attorney at Law, whosc address is 100 E. First Street, Grand Island, Nebraska 6880 I the "Trustee", and the Beneficiary, The City of Grand Island,
<br />Nebraska, hereinafter called the "Lender."
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<br />WHEREAS, Borrower is indebted to Lender fbr money loaned, for which amount the Borrower has on various dates executed and
<br />delivered a Promissory Note or Notes, payable to the Lender, together with interest at the rate as shown on the note or notes. This Trust Deed
<br />secures all present obligations of Borrower in favor of Lender and all extensions, modifications lmd renewals thereof or advances made subsequent
<br />to the date of this Trust Deed shall be secured by this Trust Deed and shall be referred to in this instrument as the "Note."
<br />WHEREAS, the Lender desires to secure timely payment of the Note and full perfonnance or the covenants, conditions and tenns
<br />contained in this instrument and any other documents related thereto.
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<br />NOW, THEREFORE, under this Trust Deed, the Borrower docs in consideration of (1) eXlstmg debts or obligations created
<br />simultaneously with the execution of this Trust Deed, (2) future advances necessary to protect the security transferred hereunder, (3) any future
<br />advances to be made at the option ofthe parties and/or (4) the performance of any obligation in other instruments referred to in Paragraph 21 of
<br />this Trust Deed to the lender (Beneficiary), hereby grant and convey unto the Trustee, its successors and assigns, in trust, with Powcr of Sale, for
<br />the benefit and security of the Lender (Benelleiary) under and subject to the terms and conditions of this Trust Deed, the following described
<br />property, located in Hall County, Nebraska, to-wit:
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<br />Lot Seven (7), Platte Valley Industrial Park Third Subdivision, Hall County, Nebraska.
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<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, casements, rights, privileges and appurtenances located thereon or
<br />in any way pertaining thereto, and the rents, issues, prollts, reversions and remainders thereof: including all such personal property that is attached
<br />to the improvements so as to constitute a fixture, all of which, including replacements and additions thereto, are hereby declared to be a part of the
<br />real estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter referred to as the "Property."
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<br />I. Title. Borrower covenants that Borrower is lawfully seized of fee simple title to the property, tree from encumbrances.
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<br />2. Warranty. Borrower will have the right and power to convey absolute title in fee simple and will warrant and defend the title to the
<br />property against all claims whatsoever except as mentioned.
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<br />3. Performance of Obligations. Upon the fl.1ll payment of all indebtedness or full performance of all obligation secured by this Trust
<br />Deed and the payment of all charges and expenses incurred by the Trustee, the Trustee shall rclease and reconvey the real property, at Borrower's
<br />costs, to the Borrower, or to any party then claiming through the Borrower.
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<br />4. Payment and Performance. All loans and other sums or obligations secured by this instrument will be paid when due and the tenns
<br />and conditions of this instrument and other instruments related to the indebtedness or obligation secured by this Trust Deed will be performed in
<br />accordancc with the terms of th.e instrument. This Trust Deed has been granted for the purpose of securing the indebtedness and obligations
<br />evidenced by the Note including any additional sums, with interest thereon, as may be hereafter borrowcd from the I,ender by the Borrower, as
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