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<br />l0 5 '1 0 302 Huffman and Felton b Wolf, Waltan, Ne 66/6t
<br />f DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the 19th day of December 19 86 by and among
<br />B&J Transportation, Inc. ( "Trustor "), whose mailing address is
<br />4�Of SL#lih yebb Road Grand Isl and, Nebraska 68801
<br />Richer ize ("Trustee"), whose mailing address is
<br />317 American National Building, 8990 West Dodge Road, Omaha, Nebraska 68114
<br />and First Bank, National Association ( "Beneficiary ") whose mailing address is
<br />1600 West Broadway, Council Bluffs, Iowa 51501
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, tinder and subject to the terms
<br />and conditions of this Deed of Dust, the real property located in the City of Grand Island CountyOf..
<br />Hall State of Nebraska, and legally described as follows (the Troperty "):See attachment A
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property , that may
<br />be or hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all
<br />water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment ofindebtnessin the total principal amount of�00 ,000.00
<br />p � P wrth interest thereon, as evidenced by
<br />that certain promisson, note of even date (the "Note ") with a maturity date of August 1 q, 1 qR7 , executed
<br />by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is
<br />hereby made a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Pm n �fnall airs advanced by Beneficiary to protect the Trust Estate, with interest thereon at the
<br />rate of t ( TY) per annum.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter
<br />levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide
<br />Beneficiary with evidence of the payment of same. Trustor shall pay all taxes and assessments which may be levied
<br />upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that
<br />may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />:l. INSURANCE AND REPAIRS. Trustorshall maintain fire and notextended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancellable, terminable or modifiable without ten
<br />(10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or
<br />any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the
<br />Trustor commit waste on or to the Trust Estate,
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding,
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action orproceeding in which Beneficiary
<br />or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided it
<br />any of the Loan Instruments, Beneficiary and /or Trustee, each in its own discretion, without obligation so to do and
<br />without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the
<br />same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall,
<br />immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection
<br />with the exercise by beneficiary of the foregoing rights, including without limitation costs of evidence of title, court
<br />costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten (10) days of written
<br />demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Fstate, or any part thereof or interest therein, be taken or damaged by I
<br />reason of any public improvement or condemnation proceeding, or in any other manner including deed in lieu of Condem- I
<br />nation ( "Condemnation 1, or should Trustor recive any notice or other information regarding such proceeding, Trustor shall
<br />give prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other pay-
<br />ments or relief therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action
<br />or proceedings. Beneficiary shall also be entitled to make any compromise or settlement in connection with such taking or
<br />damage. All such compensation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds') are
<br />hereby assigned to Beneficiary and Trustor agrees to execute such further assignments of the Proceeds as Beneficiary or
<br />Trustee may require.
<br />6. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to tithe, by a written instrument
<br />executed and acknowledged by Beneficiary, mailed to Trustor and Recorded in the County in which the Trust Estate is f
<br />located and by otherwise complying with the provisions of the applicable law ofthe State of Nebraska substitute a successor
<br />or successors to the Trustee named herein or acting hereunder.
<br />7. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the benefit of and binds all parties herein,
<br />their heirs, legatees, device", personal representatives. sucrtssors and assigns. The term "Beneficiary" shall mean the
<br />owner and holder of the Note, whetter in not named as Beneficiary herein. j
<br />N. INSPF:(. °i'IONS. Reneficiar-y. ar its agmitw, representatives or workmen, are authorized to enter at am- reasonable
<br />tame uptan err in any part of the Taut F,ataie for the purpose of inspecting the same and for the purlxrtte of perfssrnuntt arty „f
<br />0W atim it is authercw.ed to Perform untier the terms of any of the gran Instruments.
<br />- F;F VN*I`1+ t IF hF FAULT Any of the frdlowing events shall hr deems' j an event of default hereunder
<br />cal Truswr shall have failed to make payment of any installment of interest, prim -ipal, ,u- prm,, ipai anp'1 mtrwst oT ,ono
<br />Alsar kut7f . °utnd herpho' when dw. r *r
<br />Cwt - r'rrad a fw#4u'h 4or [dcfaHlt Untie! Any lean, tiwrt. ant- klgr+`e471en: t. rvNtrlittc + ?t tR4`l Frt II1, (' _ {r R`M/'S:tsiR171
<br />,nr - r:,asTanr,, c:�,rat.asstae�9 Er: rnp of t.h« f�aalr 1natrUnlRalst_. i
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