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<br />85-- 003119
<br />DEED OF TRUST AND ASSIGNMENT OF RENTS
<br />THIS DEED OF TRUST AND ASSICNMENT OF RENTS ( "Deed of
<br />Trust "), is made as of the 13A day of June, 1985, by and
<br />among GRAND ISLAND MALL,
<br />partnership ( "Trustor or Debtor"), whose mailing address tis
<br />C/0 Meredith Organization, Inc., 99 Park Avenue, New York,
<br />New York 10016, JOHN BROWNELL ( "Trustee "), whose mailing
<br />address is 231 S. Locust St., Grand Island, Nebraska 68801
<br />and MAINLAND SAVINGS ASSOCIATION, a Texas corporation
<br />( "Beneficiary ") whose mailing address is 3401 Al en Parkway,
<br />Houston, Texas 77019,
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably
<br />transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Beneficiary,
<br />under and subject to the terms and conditions of this Deed
<br />of Trust, the real property, located in the County of Hall,
<br />State of Nebraska, and described as follows (the "Real
<br />Estate ");
<br />Lots One (1) and Six (6), Grand Island Mail Sixth
<br />Subdivision in the City of Grand Island, Hall
<br />County, Nebraska.
<br />TOGETHER WITH, all buildings, r ".fixtures and improvements
<br />upon the Real Estate, whether now or hereaiter existing, all
<br />tenements, way, easements, rents, issues, profits, income,
<br />hereditaments, privileges and appurtenances
<br />belonging, used or enjoyed in connection with the Real
<br />Estate, or arty part thereof (subject, however, to be the
<br />right, power and authority of Trustor to collect and apply
<br />such rents, issues, profits and income as they become due
<br />and payable, sc long as no default exists hereunder) and all
<br />proceeds of conversion, voluntary or involuntary, of any of
<br />the foregoing into cash or liquidated claims, including,
<br />without linztation, proceeds of insurance and condemnation
<br />awards, all of which collectively is hereinafter referred to
<br />as the "Trust Estate ",
<br />FOR THE 1?URFOSE OF SF:CUR 1-iG;
<br />(a) Payment of indebtedness in the original
<br />amount oz principal
<br />SEVEN MILLION TWO HUNDRED THOUSAND
<br />DOLLARS
<br />evidenced
<br />A
<br />($7,200,000.GO), ND NO /100
<br />with interest thereon, as
<br />by that
<br />certain promissory note of even date
<br />(the "Note ") with a maturity date ,uly
<br />executed
<br />delivered
<br />of 1, 1992,
<br />by GRAND ISLAND MALL, LTD,, which has been
<br />and is
<br />ar.d which
<br />payable to the order of Beneficiary,
<br />by this reference is
<br />of Trust,
<br />and made a part of this Deed
<br />(b) Payment of all sums advanced by beneficiary to protect
<br />the Trust Estate, with interest thereon at the default
<br />rate provided in the Note.
<br />This Deed of Trust, the Note, and any other instrument
<br />given to evidence or further
<br />performance of dr,y Obligation securecuerebyhcare referred to
<br />collectively as the "Loan Instruments ".
<br />TG PROTECT THE SECURITY OF 77HIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS, Debtor rP�,a1i pay when
<br />due the pr nc pa i� arac, !: aN merest on, the indebtedness
<br />evidenced by the Note, �,"c: all other charges, tec, ataci all
<br />other sut:. it €t providedf ,in the LC)Pil: ?nstrument;;,
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