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<br />CONSTRUCTION
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />
<br />Tl-!IS DEED OF TRUST, is madc as of the ....8t,hu._ day of November 2007
<br />al1long the Trustor, PIC Development of Grand Islllnd, LLC a Nebraska Limited Lillbility Comj?any
<br />
<br />11474 P.OOBJ025
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<br />, by and
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<br />whosemailingaddressis443~.4~(bSf.Ste3IAncofn.NE 6~504
<br />(herein "Trustor", whether one or m~l:~), the Tnls!;'.:; ~est Gale !ii~k-"~___~
<br />whosemailing.lddre~..3~Q!l_lQ!dChenevRdLin~Il!L!.iE 685IL-..
<br />(herein "Trustee"), and the Beneficiary, West Gate Bani,
<br />whosemailingaddressis60030ldChenevRdLincoln.NE 68516
<br />(hcrein "Lender").
<br />
<br />fOR VALUABLE CONSIDERATION, inckIding Lender', extension of credit identified herein (0
<br />PIC Developme~(_~t:gra!l.d.Jsland, L1~
<br />
<br />ih'e;:';;;:;-;;SQ~rower;;~ wllctim one'or more) and the i~ilstlierein created. the receiplof-;-hich is -herehy aclcno';';icdgeJ',
<br />Trustor hereby irrevocably grants, transfel's, conveys and assigns to Trustcc, n\ TRUST, WlHI POWER OF SALE,
<br />tor t.he benefit and s"curity of Lender. undcr and subject to the tcrms and conditions hereinafter set forth, the real
<br />property, described as tollows:
<br />See Attached Exhibit A
<br />
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements., rights,
<br />privileges ,md appurtenances located thereon or in anywise pertaining (hereto, and the rents, issues and profits,
<br />reversion, and r~mainders thereot; and such personal property that is attachcd to the improvements so as to constitute
<br />a Oxture, including, hut not limited to, heating and cooling equipment; and together with the homestead or marital
<br />interests, if any, which interests are hereby released and waived; all of which, including rc-placements and additions
<br />thereto, is hel'eny dcclared to he a part of the real estate secured hy the lien of this Deed of Trust and all of the
<br />f()[~going heing referred to herein as the "Property"
<br />
<br />Tbis Deed of Trust shall secure (a) the payment of the principal sum and interest eviden~d by a Promissory
<br />:-1ote(s) or Credit Agreement d.ted November 8th _' 2007 . in the original principal amount of
<br />$1.920.000,.I2'L-, and any and all modifications, extensions and renewals thereof or th~r~to and 'my and all future
<br />advances and readvalwes to BOl'I'ower (or any of them if more than one) hereunder pursuant to one or mOre
<br />Promissory Notes or Credit Agrecments (herein called "Note"): (h) the payments of other sum, advanced by Lender
<br />to protect the security of the Note; (e) the pertormance of all covenants and agrcements of Trustor set forth herein;
<br />and (d) all present and future indebtedncss and obligations of Borrower (or any of them ifmore than one) to Lender
<br />whether direct, indirect, ab,ol,,!e or contingent fwd whether arising by Note, Guanmty, overdraft 01' otherwise. Upon
<br />rcquc't of Borrower, Lender may, at it. option, make additivnal and future advances and readvancc, to aOl'rower,
<br />Such optional advances and readvances, with interest thereon, shall be secured by this Deed of Trust. At no time
<br />shall the principal alnOll!lt of such optional nlture advances. not including sUms advanced to protect the security of
<br />this Deed of Trust or other indebtedness secured by this Decd of Trust, exceed the amount of$3,~40.000,Q.0_..... __.'
<br />The I\ote, this Deed of Trust and allY and all other documents that seCUre the Note or otherwise executed in
<br />connection therewith, including without limitation Guarantees, Security Agreement~ and Assignments of Leases and
<br />Kents, shall he referred to herein as thc "Loan Instruments",
<br />
<br />Trustor covcnants and agrees with Lender as follows:
<br />1. PlIyment of Indebtedness. All indebtedness secured herehy shall be paid when due.
<br />
<br />2. Title, Trustor i, the owner of the Property, has the right and authority to convey the Property, and
<br />warrants that the lien created herehy is a tirst and prim Ii~n On the Property, except for liens and encumbrllIlccs set
<br />I(lrth by Trustor ill writing and delivered to Lender bet()!'e execotion of this Deed of Trust, and the execution and
<br />delivery ofthis Deed of Trust does not violate "ny contract 01' other obligatiol' to which Trustor i, ",bject.
<br />
<br />14109.CV (101111)
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