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... 86- 105E NOTICE OF DEFAULT Re: $3,150,000 mortgage loan (the "Loan ") from Balcor Real Estate Finance Inc., formerly known as Balcor /American Express Real Estate Finance Inc., an Illinois corporation to Grand Island Mall, Ltd., a Nebraska limited partnership, regarding property commonly known as Grand Island Mall To whom it may concern: Whereas Grand Island Mall, Ltd., a Nebraska limited partnership, Grantor, on the twenty -sixth day of September, 1984, made, executed, and delivered to William W. Barney as Trustee a trust deed covering the following described property: A tract of land comprising all of Lots 2, 3, 4 and 5, Grand Island Mall Fifth Subdivision, in the City of Grand Island, Hall County, Nebraska (containing 9.859 acres, more or less). Whereas the trust deed was given as security for the Loan evidenced by the Grantor's promissory note (the "Note ") made on the same date to Balcor /American Express Real Estate Finance Inc., an Illinois corporation, Beneficiary, which trust deed was recorded on the twenty- seventh day of September, 1984, in the office of the register of deeds of Hall County, Nebraska, as Document Number 84- 005068; and Whereas a breach of the obligation of the Grantor for which such trust deed was made has occurred, namely: the Grantor has failed to tender payments due in the aggregate amount of $64,585.31, as of September 19, 1986, and such failure constitutes an event of default under the terms of the Note and other documents securing the obligation evidenced thereby. Therefore, notice is hereby given that the undersigned Trustee, at the request of the Beneficiary, has elected to consider all of the principal and interest due in consequence of this default and has elected to sell the real property described in the trust deed to satisfy this obligation.