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GRAND ISLAND, ASE DEED OF TRUST AND ASSIGNMENT OF RENTS CONSTRUCTION SECURITY AGREEMENT (Only I{pboalde If checked) Fars P'tN� of rr�.t'q ^y mom. as a the ��y of Sept< 1 ®$ � ay and wfaep FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, convoys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the beoeRt and 1 unity of Baeflolay, caber and subject to the terms and conditions of this Deed of Trust, the real property, located In the County of State of Nebraska, and described as follows (the "Real Estate'): See Exhibit "A" attached hereto and incorporated by reference herein. TOGETHER WITH, all buildings, fixtures and improvements upon the Real Estate, whether now or hereafter existing, all rightsobway, onsemsnls, rents, Issues, profits, Income, leesas, tenements, heredllamants, privileges and appurtenances belonging, used or enjoyed in connection, with the PAW Estate, or any party thereof (subject, however, to be the right, power and authority of Trustor to collect and apply such rents, issues, profits and income as they become due seed payable, so long as no default exists hereunder) and all proceeds of conversion, voluntary or involuntary, of any of the forogotng hHO ash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards, sit of which calectivoly Is hereunder referred to 08 the "Trust Estate." FOR THE PURPOSE OF SECURING: (a) PaynNM IM} ed 1 t princialancuntof Three Million Six Hundred Thousand Dollars (S 3.0�'b .8 `8.'b with Interest IMreon, as evidenced by that certain promissory note of awn date herewith (the "Note'l ii K_ executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference Is made a pert of this Deed of Trust. () Payment of all sums advanced by BensNclary to protect the Trust Estate, with Interest thereon at the default rate provided In the Note. (c) Payment of any other past or future Indebtedness of Trustor to Beneficiary. Including any and all loan or lines of credit, whether saw hoop W sines of credit we due In Installment$, periodically, on a revolving basis, or in a lump sum, and whether satd irons or lines of credit result from direct disbursement, averdrett, continuing commitment to loan, or any other lxsla. (THIS PARAGRAPH SHALL NOT. CONSTITUTE NOR OTHERWISE BE CONSTRUED AS A COMMITMENT TO MAKE ADDITIONAL LOANS OF ANY KIND OR IN ANY AMOUNT.) This Dead of Treat, the Note, and any other instrument given to evidence Or further secure the payment and Wormanee of any peat, current or Iuture obligations secured hereby are referred to collectively as the "Loan Instruments ". TO PROTECT THE SECURITY OF THIS DEED OF TRUST: 1. PAYMENT Of HANSTEDN988. Trustor shalt pay when due the principal of, and the Interest on, the indebtedness evidenced by the Loan In. WUmsnts, and ON other charges, foes and all other sums as provided in the Loan Instruments. All payments received by Beneficiary as to any in. daittedn"s or as to army other debt liability or obligation owed to Beneficiary by Trustor may be applied by Beneficiary to the payment of the Note or to any such other dabt, liability or obligation, in any order or manner of application which Beneficiary, in its absolute discretion, deems appropriate. UMns otherwise eNcted by Beneficiary, any such payment shall be deemed applied first to the payment of any debt, liability or ligation otter that the Note. 2. TAXE1 AND ASBESSMVff& Trustor shall pay each Installment of all taxes and special assessments of every kind, now or hereafter levied against the Trust Estate or any pat theraof, before delinquency, without notice or demand, and shall provide Beneficiary with evidence of the payment of sans within tat 0M days of such delinquency date. Trustor shall pay all taxes and assessments which may be levied upon Trustee's or Beneficiary's Interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted Imposing payment of the whole or any pat thereof upon the BereNciay. 3. WOLqtA#CL Truster, at its expense, will maintain with insurers approved by Beneficiary insurance with respect to the Improvements and per - senat property co etituting the Trust Estate sgafnst loss by fire, lightning, and other perils covered by the standard all risk endorsement, In an amount e*04 to at Meet 100% of the full replacement value thereof, with no deduction for depreciation, and shall malniVn insurance against such other heterde and In such amount as Is customarily cared by owners and operators of similar properties and as Seneficiay may require for its protection. Trwtor will comply with such Other requirements as Beneficiary may from time to time reasonably request for the protection by insurance of the In- WON of the respective parties. AN Insurance policies maintained pursuant to this Dead of Trust shall name Trustor and Trustee as Insureds, as their rsspeotiw hrnlereats hey appear, and shell provide that there shall be no cancellation or modification without at feast fifteen (15) days prior written nollAcaltim to Trustee and Bsneficiwy. Such Insurance shall contain a standard mortgage clause in favor Of Beneficiary. In the event any policy hmstinder Is not renewed on or before fifteen (15) days prior to Its expiration date, Trustee W Beneficiary may praure such insurance, pay the premiums WW Ovate SUMS SW bs immediafaly due and payable with Interest al Its higher Of the default rate or bass role as provided in the Not* until paid ant shy be secured by this Deed of Trull. All policies of Insurwa, required by this Deed of Trust Shall be dNiverod to and retained by Trustee. FOkO of Trusser to hMrNalh such insurance, or fe ewats as a* M Wfed haSUnda. or failure to ay any sums advanced hereunder shill, at the option of a d~. AN umwned premiums pro hereby "*IWW 10 Trusts* pre 014111100111 security and a We and conveyance of the Trust Property by the Trusan shy Operate to convey to the purchaser the Trusto's Interest In and to all pollcl" of Insurance upon the Trust Estate. e. DWHWCMK in one of aye damage to, or dsatruction or lacing Of condstimittlon of the Trust Estate, Including the buildings, Inprovsm*nt , or Part of ate Trust Estate. whether such ion Is soused by Insurance, condemnation proceeds, or otherwise. BoWiclay, owe Be dom to spar airy kewace P1000111111 or other fecovely M114"d Is said 1008 to a reduction In the indebtedness, hereby secured or to re- ar T at Ill sec and acp*mas, to promprry rsatWe, repair, r"W" and rt,ild the same 08 ,Sorry as praetloabte to Its oorditlae y Oft No er or with such change a l * terratiorS a rnniw ad 8en*fkiay mutuality a" uW. p'ovided sutan changes ad N min Ieesere the vale and uliMty, of such krprow*ment* and personality from that existing Hmrw4talNy prim W tuch W . TPA W OW be erglded to reimburesment hem the Trustee to the extent of the not Inewsms proceeds reo-, red by Trustee, not actual lam expended by Treater ur No provision. 4. AUMfOiAWX Truster will net commit eryr waste upon the Trust Estate ad will, at off times, maintain the same in good operating Order end can• dwen and wth mate, from time is 0", "NMVM$, o, add"" and improvements which we necessary to such ad. No building M now at here~ *rated upon the Real Estate an$" be altered, moved or demoilshed without the prior written consent of Beneficiary. f" J {j P 1 I