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<br />State of Nebraska Space Ahov!' ThIs Line For Recording Data
<br />REAL ESTATE DEED OF,TRUST :3 5~ .5 0
<br />(With Future AdvAnce Clause)
<br />o Construction Security Agreement
<br />
<br />1 DATE AND P'A' R'.T" IES Th' d't f thi D d. fT. MARCH 28,2008,~ d h " d h '
<br />. '. .,.. . . .. e a e 0 s. ee 0 rust IS ........_.................................... an t e partIes an t elr
<br />addresses are as follows:
<br />
<br />TRUSTOR:
<br />SHAFER PROPERTIES LLC
<br />920 NORTH DIERS AVENUE
<br />GRAND ISLAND, NE5RASKA
<br />
<br />68803
<br />
<br />o Refer to the Addendum which is attached and incorporated herein for additional Trustors.
<br />
<br />TRUSTEE:
<br />
<br />ARCHER COOPERATIVE CREDIT UNTON
<br />2121 ARCHER ROAD
<br />ARCHER, NEBRASKA 68816
<br />
<br />BENEFICIARY:
<br />
<br />ARCHER COOPERATIVE CREDIT UNION
<br />2121 ARCHER ROAD
<br />ARCHER, NEBEASKA 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 />SEE EXHIBIT "AI' 'WRICCH IS ATTACHED HERETO>:' AND INCORPORATED HEREIN
<br />BY THIS REFERENCE
<br />
<br />The property is located in ... .........ff.~.~b. ... ..... ............... ........ ........... ............... ... ........ at .... ..... ............... .... ............ ............
<br /> .......
<br />(County)
<br />705 REDWOOD ROAD GRAND ISLAND 68801
<br />.,. ........ ..... .............. .......... ............ ...... .................., .. ......... ............ ........, .................. ............., Nebraska .... ........ .............
<br /> .... ,..........
<br />(Address) (City) (ZIP Code)
<br />
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber, all
<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, bowever established.
<br />
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured
<br />b thi' D . d' fT.... t t '. ti. h 11 ,t d $ 200 000. 00* * * * * * Thi' 1". .t t. f t d
<br />Y , s ee 0 rus a any o.ne me s a no excee ...........!................................... . S Iml a IOn 0 amoun oes
<br />not include intere~t, 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 perfo.rm 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 ina separate Writing.
<br />
<br />4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is not limited to., the follo.wing:
<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, etc.)
<br />PROMISSORY NOTE DATED MARCH 28, 2008 EXECUTED BY JOEL B. SHAFER, PRESIDENT
<br />OF MIDWEST MUFFLER & EXHAUST, INC. AND ANY FUTURE PROMISSORY NOTES EXTENDED
<br />TO SHAFER PROPERTIES LLC, EXECUTED BY JOEL B. SHAFER, MANAGING MEMBER
<br />. : :' . . ! ...
<br />
<br />NEBRASKA. AGRICULTURAUCo.MMERCIAL DEED o.F TRUST (No.T FOR FNM~HLMC. FHA OR VA USE, AND No.T FOR Co.NSUMEpS)
<br />C 1993 Bankers SVlIIems. lno.. St. Cloud. MN (1-800-397-2341) Form AGICO.DT.NE 10130197 "J
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