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86'— 107456 Securing Deed of Trust
<br />Guaranty
<br />THIS DEED OF TRUST is made this la. of y of ZkC.: -- 6 */ , 19 ", by and between GLC, Inc., a Nebraska
<br />Mt Mn _ whether one or more, (hereinafter called the -Trustor"),
<br />WHdea rr►aiN V address is _P.. 0. moo? -6f37, 3214 25th St., Columbus.-N 68501 _
<br />Nppy1►EST:g,UYK NEBRASKA. N.A. ((hereinafer called the "Trustee -), whose mailing address is
<br />P.0. Box' 3408, Omaha, Nebraska 68102 and NoRwEsrBANK EIRA5KA. N.A. (hereinafter
<br />called do "Beneficiary"), whose mailing address is P.O. Box 3408, Omaha, Nebraska 68102
<br />WITNESSETH:
<br />WHEREAS, Gerhold Concrete Company, Inc., a Nebraska corporation (hereinafter called the "Borrower' )
<br />has applied to Beneficiary for one or more loans, letters of credit, or other financial accommodations and may hereafter from time to time
<br />apply to Beneficiary for additional loans. letters of credit and other financial accommodations; and
<br />WHEREAS, to induce Beneficiary to provide financial accommodations to Borrower.
<br />(a) t this j x ) is checked. Trustor has guaranteed to Beneficiary the payment and performance of each and every debt, liability and
<br />obligation of every type and description which Borrower may now or at any time hereafter owe to Beneficiary (whether such debt,
<br />fiebilty or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due,
<br />absolute or contingent, primary or secondary, liquidated or unfiquidared, or joint, several or joint and several),
<br />(b) t this i 1 is checked, Trustor has guaranteed to Beneficiary the payment and performance of the debt, liability, or obligation of
<br />Borrower to Beneficiary evidenced by or arising out of the following:
<br />.and
<br />any extensions, renewals or replacements thereof,
<br />together with accrued interest thereon and related costs of enforcement and collection expenses. pursuant to a Guaranty (hereinafter called
<br />Me "Guaranty') of even date herewM, and
<br />WHEREAS, Beneficiary has required, as a condition precedent to the extention of any financial accommodation to Borrower, that Trustor
<br />execute this Deed of Trust for the purpose of securing payment of the Guaranty
<br />NOW, THEREFORE, in consideration of the premises and fat the purpose of securing (a) payment, when and as due and payable, of the
<br />obligations of Trustor under the Guaranty. (b) the payment of all other sums. with interest thereon, which may be advanced by Beneficiary or
<br />Trustee in accordance with or which may be secured by this Deed of Trust, and (c) the performance of all of the covenants, agreements and
<br />conditions herein contained, all of which is hereinafter collectively called the "Indebtedness." Trustor irrevocably grants and transfers to
<br />Trustee, in trust, with POWER OF SALE. all of the following described property
<br />See Exhibit "k" attached hereto and incorporated herein by this reference.
<br />together with (i) all buildings, structures. additions, enlargements, modifications, repairs. replacements. and improvements now or he. eafter
<br />located thereon, (d) all equipment. machinery and fixtures (including, without limitation, all lighting, heating, ventilating, cooling, air
<br />conditioning, sprinkling and plumbing fixtures, water and power systems. engines, boilers, ranges. ovens, dishwashers, mirrors and mantels.
<br />carpeting, furnaces, oil burners, elevators and motors. refrigeration plants or units. communication systems. dynamos, transformers, electrical
<br />equipment, storm and screen windows, doors. awnings and shades) now or hereafter attached to. or built in, any building or improvement
<br />now or hereafter located thereon. (iii) all easements and rights of way appurtenant thereto. (tv) all leasehold estate, right. title and interest or
<br />Trustor in and to all teases, whether now or hereafter existing or entered into (intruding, without limitation, all cash and security deposits,
<br />advance rentals and deposits or payments of a similar nature), pertaining thereto. (v) all rents. issues, profits and income therefrom (subject
<br />to the fight of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of
<br />default exists hereunder), (vi) all royalties. mineral, oil and gas rights and profits, water. water rights. and water stock (vii) all tenements.
<br />hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (vii) all proceeds of conversion,
<br />voluntary or involuntary, of any of the foregoing Into cash or liquidated claims (including, without limitation, proceeds of Insurance and
<br />condemnation awards), all of which is hereinafter collectively called the 'Trust Property
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST. TRUSTOR COVENANTS AND AGREES AS FOLLOWS:
<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns. that Trustor owns the Trust Property free
<br />from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property.
<br />that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust
<br />Property and will forever warrant and do-tend the validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor. at its expense. will cause this Deed of Trust, and each amendment or supplement hereto. to be filed and
<br />recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in *he opinion of Trustee
<br />may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may
<br />be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect is title to the Trust
<br />Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property
<br />2. Payment of Indebtedness Trustor agrees to pay promptly when due all Indebtedness arising under the Guaranty or otherwise owed
<br />to Beneficiary.
<br />owed to Beneficiary.
<br />3. Funds for Payment of Charges. Subject to applicable law or to a written waiver by Benehciar,: Trustor shall pay to Beneficiary on the
<br />first day of each month, or such other date each month as may be spaded by Beneficiary. until the Indebtedness is paid in full, a sum
<br />(hereinafter called the "Funds ") equal to 1 r 12th of the yearly taxes and assessments which may attain priority over this Deed of Trust
<br />and ground rents on the Trust Property, if any, plus 1 12th of the yearly premium installments tot hazard Insurance, plus 1 12th of the
<br />yearly premium installments for mortgage insurance, if any, at/ as reasonably estimated Initially and from time to time by Beneficiary on
<br />the basis of assessments and bills and reasonable estimates thereof The Funds shall be held in an institution, the deposits or
<br />accounts of which are insured or guaranteed by a federal or state agency including Beneficiary. Beneficiary shall apply the Funds to
<br />pay said taxes, assessments, insurance premiums and ground rents. Beneficiary shall not be required to pay Trustor any interest or
<br />earnings on the Funds. Beneficiary shall give to Trustor, without charge. an annual accounting of the Funds showing credits and
<br />debits to the Funds and the purpose for which each debit to the Funds was made The Funds are pledged as additional security for
<br />Me Indebtedness secured by this Deed of Trust N the amount of the Funds field by Beneficiary, together with the future monthly
<br />installments of Funds payable prior to the due dates of taxes. assessments, insurance premiums and ground rents. shall exceed the
<br />amount required to pay said taxes, assessments, insurance premiums and ground rents as they fall due, su rh ex: ass shall be. at
<br />Trustor's option, etcher promptly repald to Trustor or credtted to Trustor against future monthly installments of Funds It the amount of
<br />the Funds held by Beneficiary shall not be sufficient to pay taxes. assessments. insurance premiums and ground rents his they fall due
<br />Trustor shah pay to Betefi;:iary any amount necessary to make up the deficiency within thirty days frorr, the date notice is marled by
<br />Beneficiary to Truster requesting payment thereof Upor payment in full of all Indebtedness. Senetc,ary malt ura:nptty refund it',
<br />Trustor any Funds held by Beneficiary _ If the Trust Property is sotld under rho power of sale or the True! P: operry ,S ntherm.,e a(:yurfP %:
<br />by Bsnefrciaty, Beneficiary Shall apply. immediately prior rri the saw of the Trust Property nr its riff qu;stfwn by Aanefrc,wy any F,,!,J,
<br />held by Beneficiary of the tonne of application as a credit against the Indebtedness r, Beneric,ary errrutey a w•:tler waww or iru;;tir
<br />()bk+tlab6irs under this paragraph 3, rrus" cvvenAniS and ngrees to pay, before the siih- h gin.,+ 041fnr.%te *r,! r3. 'lkei 17MSe iSln?en•s
<br />insurarxv ofemiumN, gmend ro"M and all €*tier Charges wharso vef 143Y fro _rbOn C qc e ,, ;7 ,i •n3t7 <^ ark :.•,, •ht. >•�4,'
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