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<br />State of Nebraska Space Above This Line For Recording Data
<br />REAL ESTATE DEE,D OF TRUST 35,50
<br />(With Future Adv8ltce Clause)
<br />o Construction Security Agreement
<br />
<br />1 DATE ,AclllTn p" A' nT" IE'S Th' d't f thi D, d fT' MARCH. 28,2008,: 'd h ,." d th .
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<br />TRUSTOR:
<br />SHAFER PROPERTIES LLC
<br />920 NORTH DIERS AVENUE
<br />GRAND ISLAND, NEBRASKA
<br />
<br />68803
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<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 />ARCgER, NEBRASKA 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 "A" ~HI~H IS ATTACHED HERETOX AND INCORPORATED HEREIN
<br />BY THIS REFERENCE
<br />
<br />The property is located in ............fJ.~.~1................................................. ....... .... ........ at,.. }}.~.?.. .~.9g.?;'.?...19. g.~H?l.......
<br />(County)
<br />...~~ ~ ~.~.?;........ ................ ........ ....... ........... ..... .., q.?~~p....! .~~!::~p........ ....... ...... ....... ..., Nebraska ....... .?.~.~9..~... .... ...........
<br />(Address) (City) (ZIP Code)
<br />
<br />Together with all rights, easements, appu,rtenances, 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, 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 $ 20.0. ".O.oO...o.o.1(.*:t:6:.t.*. * 1l'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 bo"owers' 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 />, ow. ". " '.~, ' ~
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<br />
<br />
<br />NEBRASKA _ AGRlCUL11lRAUCOMMEAaAL DEED OF lHUST (NOT FOR ~ fHLMC, FHA OR VA US< '"" NOT FOR CONSUMER p..J."
<br />C 1993 Bankers Systems. Inc.. 51. Cloud. MN (1.800-397-2341) Form AGlCQ-OT-NE 10130I97 \oJ ~
<br />
<br />page 1016
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