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<br /> ~. CONSTRUCTION SECURITY AGREEMENT, DEED OF TRUST, SECURITY /;)0.50
<br /> AGREEMENT AND FIXTURE FINANCING STATEMENT
<br />
<br />
<br />
<br />THIS CONSTRUCTION SECURITY AGREEMENT, DEED OF TRUST, SECURITY
<br />AGREEMENT AND FIXTURE FINANCING STATEMENT (the "Deed of Trust") is made
<br />and entered into this ~ day of March, 2008 by and between
<br />
<br />SCANNELL PROPERTIES #106, LLC, an Indiana limited liability company, 800 East
<br />96th Street, Suite 175, Indianapolis, Indiana 46240 (hereinafter the "Borrower");
<br />
<br />and
<br />
<br />REGIONS BANK, an Alabama banking corporation, 1900 Fifth Avenue North, 15th
<br />Floor, Birmingham, Jefferson County, Alabama 35203 (hereinafter called "Secured Party");
<br />
<br />and
<br />
<br />Trev E. Peterson, a member of the Nebraska State Bar Association, whose address is
<br />3800 VerMaas Place, Suite 200, Lincoln, NE 68502 (hereinafter called the "Trustee").
<br />
<br />RECIT ALS
<br />
<br />Borrower is the owner in fee of the hereinafter described Property. Secured Party,
<br />Borrower and a guarantor named therein (the "Guarantor") have entered into a Construction
<br />Loan Agreement of even date herewith (the "Loan Agreement"), the terms of which Loan
<br />Agreement together with such amendments as are from time to time agreed to by the parties are
<br />incorporated herein as if fully set forth. Pursuant to the Loan Agreement, Borrower has executed
<br />and delivered to Secured Party its Promissory Noteof even date herewith, in the maximum stated
<br />principal amount of TWO MILLION FIVE HUNDRED THOUSAND AND 00/100
<br />DOLLARS ($2,500,000.00) (the "Note"), bearing interest as provided therein, said principal and
<br />interest being due and payable no later than September 10, 2009 (the "Maturity Date"). The
<br />Loan Agreement, Deed of Trust, Note, any Hedge Agreement (as defined in the Loan
<br />Agreement) or any other instrument securing payment of the Note, are hereafter defined as
<br />"Loan Documents" and any and all covenants, conditions, stipulations and agreements set out in
<br />the same are collectively referred to as the "Obligations."
<br />
<br />NOW, THEREFORE, in consideration of the premises, and in order to secure payment of
<br />both the principal of, and the interest and any other sums payable on or by reason of, the Note or
<br />any instrument securing payment thereof, the Loan Agreement, any Hedge Agreement, this Deed
<br />of Trust and the performance and observance of all of the covenants and provisions hereof and of
<br />AM 157:0AM57:667038:5:LOUISVILLE
<br />3/20/08
<br />
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