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87-- Jolgoj
<br />Island, Nebraska, and filed in the Register of Deeds Office for
<br />Hall County, Nebraska ( "Parking Lot Trust Deed ") which Parking
<br />Lot Trust Deed secured the indebtedness and obligations evidenced
<br />by the Original Promissory Note and Second Promissory Note;
<br />WHEREAS, Borrower, as Trustor, executed a Trust Deed dated
<br />September 11, 1986 and recorded as Document Number 86- 105249,
<br />with Lender as Trustee and Beneficiary on the Condominium Units
<br />001 and 002 which are further described on Exhibit "A ", which is
<br />filed in the Register of Deeds Office for Hall County, Nebraska
<br />( "Lower Level Trust Deed ") which Lower Level Trust Deed secured
<br />the indebtedness and obligations evidenced by the Original
<br />Promissory Note and Second Promissory Note;
<br />WHERAS, a Second Amendment To Declaration To The Yancey, a
<br />Condominium was executed on December 20, 1986 and recorded as
<br />Document Number 86- 107514, which among other things subdivided
<br />Unit 101 into Unit 101 and Unit 102, change the condominium
<br />number of Unit 102 to Unit 103, change the condominium number of
<br />103 to 104, and subdivided Unit 201 into 201A, Unit 201B, Unit
<br />201C and Unit 201D ( "Second Amendment To Declaration "), which
<br />Second Amendment to Declaration is incorporated herein by this
<br />reference;
<br />WHEREAS, Borrower paid to Lender on December 31, 1986 the sum
<br />of $462,492.00 which was all the then outstanding indebtedness
<br />represented by the "Original" Promissory Note;
<br />WHEREAS, Borrower paid to Lender on December 31, 1986 the sum
<br />of $535,000 which was applied to the outstanding indebtedness
<br />represented by the Second Promissory Note;
<br />WHEREAS, Lender executed and delivered to Borrower a Partial
<br />Deed of Reconveyance, dated December 31, 1986 and recorded as
<br />Document Number 86- 107518, which releaseed Units No. 201A, 402,
<br />403, 405, 502, 505, 601, 605, 702, 801 and 1001;
<br />WHEREAS, Lender executed and delivered to Borrower a Partial
<br />Deed of Reconveyance, dated December 31, 1986 and recorded as
<br />Document Number 86- 107519, which released Unit No. 602;
<br />WHEREAS, Borrower and Lender executed the Third Amendment and
<br />Restatement of the FirsTier Bank, National Association, Lincoln,
<br />Nebraska, Construction Loan Agreement, dated this even date,
<br />which is incorporated herein by this reference ( "Third Amendment
<br />to Construction Loan Agreement ");
<br />WHEREAS, Arter executed a Fifth Arter Guarantee, dated this
<br />even date ( "Fifth Guarantee ") in favor of the Lender or the
<br />holder of the Second Promissory Note, which is incorporated
<br />herein by this reference;
<br />WHEREAS, the Lender and Borrower desire to decrease the face
<br />amount of the Second Promissory Note from $1,070,000 to $900,000;
<br />WHEREAS, the Lender has agreed to further extend the maturity
<br />dates of the Second Promissory Note to December 31, 1987;
<br />WHEREAS, Borrower and Lender desire to redefine the term
<br />"Loan Documents" as that term was defined in the Original
<br />Agreement, Deed of Trust, Original Loan Documents, First
<br />Amendment to Construction Loan Agreement, Second Promissory Note,
<br />Second Guarantee, Readvanced Loan Documents, Second Amendment to
<br />Construction Loan Agreement; Fourth Guarantee; Assignment of
<br />Leases; Lower Level Trust Deed; Third Amendment to Construction
<br />Loan Agreement; and Fifth Guarantee;
<br />WHEREAS, this Agreement modifies the Deed of Trust, Lower
<br />Level Trust Deed, Second Promissory Note, and other Loan
<br />Documents as defined herein.
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