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87- 101900
<br />WHEREAS, Borrower and Lender executed the Second Modification
<br />Of Loan Documents, dated June 30, 1985 (Document Number 86-
<br />100116) which among other things extended the maturity date of
<br />the Original Promissory Note to December 31, 1985;
<br />WHEREAS, Borrower executed a Second Promissory Note Secured
<br />By Deed of Trust for $1,070,000, dated June 6, 1985 ( "Second
<br />Promissory Note "), in favor of Lender or its holder, which is
<br />incorporated herein by this reference;
<br />WHEREAS, the Second Promissory Note is secured in part by the
<br />Deed of Trust;
<br />WHEREAS, Dean E. Arter and Carol J. Arter executed a Second
<br />Arter Guarantee, dated June 6, 1985 ( "Second Guarantee ") in favor
<br />of the Lender or the holders of the Original Promissory Note and
<br />Second Promissory Note, which is incorporated herein by this
<br />reference;
<br />WHEREAS, Borrower executed other "Loan Documents" dated
<br />June 6, 1985 as that term is defined in the First Amendment to
<br />Construction Loan Agreement in favor of the Lender or its holder
<br />( "Readvanced Loan Documents ") which Readvanced Loan Documents are
<br />incorporated herein by this reference;
<br />WHEREAS, Borrower and Lender executed the Third Modification
<br />of Loan Documents dated as of December 30, 1985 (Document Number
<br />86- 100117) which, among other things, extended the maturity date
<br />of the Second Promissory Note to March 31, 1986;
<br />WHEREAS, Borrower and Lender executed the Fourth Modification
<br />of Loan Documents dated as of February 18, 1986 (Document Number
<br />86- 100912) which, among other things, extended the maturity date
<br />of the Original Promissory Note to June 30, 1986;
<br />WHEREAS, Borrower and Lender executed the Fourth Modification
<br />of Loan Documents dated as of April 23, 1986 (hereinafter amended
<br />and relabeled the "Fifth Modification to Loan Documents)
<br />(Document Number 86- 102190), which, among other things, extended
<br />the maturity date of the Second Promissory Note to July 31, 1986;
<br />WHEREAS, A First Amendment To Declaration To The Yancey, a
<br />Condominium was executed and recorded on June 12, 1986 on
<br />Document Number 86- 103108, which among other things created Units
<br />001 and 002 ( "First Amendment to Declaration "), which are further
<br />described in Exhibit "A" and which First Amendment to Declaration
<br />is incorporated herein by this reference;
<br />WHEREAS, Borrower and Lender executed the Second Amendment
<br />and Restatement of the FirsTier Bank, National Association,
<br />Lincoln, Nebraska, Construction Loan Agreement, dated September
<br />11, 1986, which is incorporated herein by this reference ( "Second
<br />Amendment to Construction Loan Agreement ");
<br />WHEREAS, Devco Inc., Dean E. Arter and Carol J. Arter
<br />executed a Third Arter Guarantee, dated September 11, 1986
<br />( "Third Guarantee ") in favor of the Lender or the holders of the
<br />Original Promissory Note which is incorporated herein by this
<br />reference;
<br />WHEREAS, Arter executed a Fourth Arter Guarantee, dated
<br />September 11, 1986 ( "Fourth Guarantee ") in favor of the Lender or
<br />the holder of the Second Promissory Note, which is incorporated
<br />herein by this reference;
<br />WHEREAS, Borrower executed a First Amendment of Assignment of
<br />Leases, dated September 11, 1986 ( "Assignment of Leases ");
<br />WHEREAS, Borrower executed a Trust Deed dated September 11,
<br />1986 as Trustor with Lender as Trustee and Beneficiary on the
<br />real estate as Lots One (1) and Two (2) Parking Ramp Subdivision,
<br />a replat of Lots 5, 6, and 7, Block 79, Original Town of Grand
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