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<br />WHEN RECORDED MAil TO:
<br />Bremer Bank, National Association
<br />Grand Forks Office
<br />3100 South Columbia Road
<br />Grand Forks, NO 58208
<br />
<br />FOR RECORDER'S USE ONLY
<br />JjtJ . ,S~ 0
<br />
<br />MORTGAGE
<br />
<br />MAXIMUM LIEN. The lien of this Mortgage shall not exceed at any ono time $4,639,214.19.
<br />
<br />THIS MORTGAGE dated January 3, 2008, is made and executed between EMG CAPITAL 005, LlLP, A
<br />
<br />LIMITED LIABILITY LIMITED PARTNERSHIP, whose address is 1762 LYDIA CIRCLE, GRAND FORKS, NO
<br />
<br />58201 (referred to below as "Grantor") and Bremer Bank, National Association, whose address is 3100 South
<br />
<br />Columbia Road, Grand Forks, NO 58208 (referred to below as "Lender").
<br />
<br />GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages and conveys to lender all of Grantor's right, title, and interest in
<br />and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and
<br />fixtures; all easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities
<br />with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation all
<br />minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in HALL County, State of Nebraska:
<br />
<br />Hall County Parcel #400107074Lot 2, Warren Third Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska
<br />
<br />The Real Property or its address is commonly known as 214 PIPER ST, GRAND ISLAND, NE 68803-4027.
<br />
<br />Grantor presently assigns to lender all of Grantor's right, title, and interest in and to all present and future leases of the Property and all
<br />Rents from the Property. In addition, Grantor grants to lender a Uniform Commercial Code security interest in the Personal Property and
<br />Rents.
<br />
<br />THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
<br />IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (BI PERFORMANCE OF ANY AND All OBLIGATiONS UNDER THE
<br />NOTE, THE RELATED DOCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE 15 GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to lender all amounts secured by this
<br />Mortgage as they become due and shall strictly perform all of Grantor's obligations under this Mortgage.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Grantor 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. Grantor represents and warrants to lender that: (1) During the period of Grantor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason 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, release or threatened release of any
<br />Hazardous Substance 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 matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Grantor 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 federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental laws. Grantor suthorizes lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Grantor's expense, as lender may deem appropriate to determine compliance of the Property
<br />with this section of the Mortgage. Any inspections or tests made by lender shall be for lender's purposes only and shall not be
<br />
<br />.
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