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<br />State of Nebl'aska
<br />
<br />Space Above This Line Fol' Recol'ding Data
<br />REAL ESTATE DEED OF TRUST
<br />(With Future Advance Clause)
<br />D Construction Security Agreement
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<br />1. DATE AND PARTIES. The date of this Deed of Trust is ...MAR.CH...2.8.,.20.0.8...... and the parties and their
<br />addresses are as follows:
<br />
<br />TRUSTOR:
<br />SHAFER COMMERCIAL PROPERTIES LLC
<br />920 NORTH DIERS AVENUE
<br />GRAND ISLAND, NEBRASKA 68801
<br />
<br />D Refer to the Addendum which is attached and incorporated herein for additional Trustors.
<br />
<br />TRUSTEE:
<br />ARCHER COOPERATIVE CREDIT UNION
<br />2121 ARCHER ROAD
<br />ARCHER, NEBRASKA 68816
<br />BENEFICIARY:
<br />ARCHER COOPERATIVE CREDIT UNION
<br />2121 ARCHER ROAD
<br />ARCHER, NERBASKA 68816
<br />
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and
<br />to secure the Secured Debt (hereafter defined), Trustor irrevocably grants, conveys and sells to Trustee, in trust for
<br />the benefit of the Beneficiary, with power of sale, the following described property:
<br />
<br />Lot One (1), Block Two (2) in Ponderosa Lake Estates Fourth Subdivision
<br />, an Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />. . HALL 215 PONDEROSA DRIVE
<br />The property IS located In ........................................................................................... at ...........................................................
<br />(County)
<br />
<br />........ ...................................................................., GRAMD...I.SLAND... ..... ....... ... ... .... ..... , Nebraska ..............6.8.8.0.1...........
<br />(Address) (City) (ZIP Code)
<br />
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, an
<br />diversion payments or third party payments made to crop producers, and all existing and future improvements,
<br />structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described
<br />above (all referred to as "Property"). The term Property also includes, but is not limited to, any and all water wells,
<br />water, ditches, reservoirs, reservoir sites and dams located on the real estate and all riparian and water rights
<br />associated with the Property, however established.
<br />
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured
<br />by this Deed of Trust at anyone time shall not exceed $ .5.O'.(.O'Q.Q.~..Q.Q.~.~.~.~.~.~.~.*: This limitation of amount does
<br />not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges
<br />validly made pursuant to this Deed of Trust and does not apply to advances (or interest accrued on such advances)
<br />made under the terms of this Deed of Trust to protect Beneficiary's security and to perform any of the covenants
<br />contained in this Deed of Trust. Future advances are contemplated and, along with other future obligations, are
<br />secured by this Deed of Trust even though all or part may not yet be advanced. Nothing in this Deed of Trust,
<br />however, shall constitute a commitment to make additional or future loans or advances in any amount. Any such
<br />commitment would need to be agreed to in a separate writing.
<br />
<br />4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to, the following:
<br />A. The promissory note(s), contract(s), guaranty(s) or other evidence of debt described below and all
<br />extensions, renewals, modifications or substitutions (Evidence of Debt). (When referencing the debts below it
<br />is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, ete.)
<br />PROMISSORY NOTE DATED MARCH 28, 2008 EXECUTED BY JOEL B. SHAFER,
<br />PRESIDENT OF MIDWEST MUFFLER & EXHAUST, INC. AND ANY FUTURE PROMISSORY
<br />NOTES EXTENDED TO SHAFER PROPERTIES LLC, EXECUTED BY JOEL B. SHAFER,
<br />MANAGING MEMBER.
<br />
<br />NEBRASKA - AGR'CUUURAUCO.'"C''' DEEO OF TllUST (NOT FOR eNM::"""" eN"'OAVA usk "'O~OT FOR CONSUM" '{1lJ'1
<br />
<br />
<br />@ 1993 Bankers Systems, Inc., St. Cloud, MN (1.800.397-2341) Form AG/CO-DT-NE 10/30/97 "'.,
<br />
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