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<br />86-- 102887
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that
<br />the Borrowers are about to execute is a Deed of Trust and not a
<br />mortgage and that the power of sale provided for in the Deed of
<br />Trust provides substantially different rights and obligations to
<br />the Borrowers than a mortgage in the event of a default or breach
<br />of obligation under the Deed of Trust, including, but not limited
<br />to, the Lender's right to have the Real Property sold by the
<br />Trustee without any judicial proceeding or foreclosure.
<br />Borrowers represent and warrant that th'.s acknowledgement was
<br />executed by them before the execution of the Deed of Trust.
<br />KRGI, INC., Borrower
<br />By-
<br />President
<br />DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the 2nd day of June,
<br />1986, by and among the Trustor, KRGI, Inc., a Nebraska
<br />corporation., (herein "Borrower ") , the Trustee, Robert J. Routh
<br />(herein "Trustee "), and the Beneficiary, Grand Island
<br />Broadcasting Co., Ltd. (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including the indebtedness
<br />identified herein and the trust herein created, the receipt of
<br />which is hereby acknowledged, Borrower hereby irrevocably grants,
<br />transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER
<br />OF SALE, for the benefit and security of Lender, under and
<br />subject to the terms and conditions hereinafter set Forth, the
<br />real property, described as .mellows:
<br />Lot Eighteen (18) in Warren Subdivision, in
<br />the City of Grand island, ball County, Nebraska.
<br />Together with all buildings, improvements, fixtures,
<br />streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto,
<br />and the rents, issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling
<br />equipment and such personal property that. is attached to the
<br />improvements so as to constitute a fixture; all of which,
<br />including replacements and additions thereto, is hereby declared
<br />to be a part of the real estate secured by the lien of this Deed
<br />of Trust and all of the foregoing being referred to herein as the
<br />"Property ".
<br />This Deed of Trust shall secure (a) the payment
<br />of the
<br />principal sum and interest evidenced by Borrower's note dated
<br />June 2, 1986, having a maturity date of June Z s 1991, in
<br />the
<br />original principal amount of $1,500,000.00 and any and
<br />all
<br />modifications, extensions and renewals thereof or thereto
<br />(herein
<br />called "Note "); (b) the payment of other sums advanced by
<br />Lender
<br />to protect the security of this Deed of Tr.usL, with .interest
<br />thereon as provided in the Note; and (c) the performance
<br />all.
<br />covenants and agreement of Borrower set forth herein.
<br />I r rowel , to protect the security of this Deed
<br />of
<br />Trust. covi_c: ants avid iarees with Tericer as follows:
<br />
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