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<br />DEED OF TRUST
<br />
<br />TIllS DEED OF TRUST, is made as of 1st day of______.~!:iJ,,_____ ,2008, by
<br />and among- MACARIO AGUILAR BARRERA & MARI..A. FRAtiSI~iA ~RT~~A De (A'f~tttY!!~ wIwdcsffifHwgdW~r~ire
<br />_607 W. 13th. Grand rsland..__}m_L_61iaQl.;_GA.RX..D.....~ RN. torney-a - aw .
<br />("Trustee"), whosemailingaddressis_J;;.fu....AilllANIAGETITLE..>01W.KOENTG~T_.GRANDTSLAND.._...NE..-.1i880
<br />
<br />and..._.__!~LATE ENTERPRISES LLC
<br />whose mailing address is 2209E.---.S1'O.LLEY...EARK..RIl.....GRAND1ST.AND,NF. hliliOl
<br />
<br />("Beneficial'y")
<br />
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE,/br the henefit and security of Beneliciary, under and subject to the terms and conditions of this Deed of Trust,
<br />the real property located in the City of GRAND ISLAND , County of
<br />____.__..__HALL___ , State of Nubl'llska, and lugally duscribnd all follows (t.h() "Propert.y"):
<br />LOT TWO (2) BLOCK FOUR (4), SCHIMMER'S ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA
<br />'/'OGI<~'I'lfI~R WITH, all rent.s, easement.s, appurt.enances, hereditaments, interests in adjoining roads, streets and alleys,
<br />improvements and buildings of any kind situated thereon and all personal property t.hat may be or hereafter become an integral
<br />part of such buildings and improvement.s, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $ 44, 909~ 00 ,with interest thereon, as evidenced by that
<br />certain promissory not.e of even dat.e (the"Not.e") wit.h a maturity dat.e of MARCH 1, 2023 ,
<br />executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby
<br />made a part. hereof; and any and al,l modifications, extensions and renewals t.hereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rat.e of
<br />SIX percent ( 6 'yo) per annum, and
<br />c. The performance of Trust.or's covenants and agreements.
<br />This Deed of Trust, the Note, and any other inst.rument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collect.ively as the "Loan Instruments".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />I. PAYMENT OF INDEB'fEDNESS. Trustor shall pay when due the principal of, and the interest on, the indebtedness
<br />evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS, Trustor I-lhalJ pay all taxes and special assessments of every kind, now or hereafter levied
<br />against the trust estate or any part thereof as tbllows: See Promissory Note for details of tax & insurance
<br />(initial one) payments.
<br />... Trustor shall directly pay such taxe!!, without notice or demand as each installment comes due and shall
<br />provide the beneficiary with evidence of the payment of the same.
<br />X Trustor shall pay to beneficiary one-twelfth of the real estate taxes each month and such other assessments
<br />as they become due. The one-twelfth payment shall be adjusted annually as the taxes change and trustor aE,'Tees that
<br />after puyment of t.he taxes each year thai any deficiency will be promplly paid to Beneficiary. Beneficiary agrees
<br />to provide trustor with receipts showing that t.he real est.ate taxes have been paid ill full and when due.
<br />:1. INSURANCE AND HEPAIHS. Trustor shall maintain fire and extended coverage insurance insuring the improvements
<br />and builclings constituting part of the 1'rust Estat.e for an amount no less than t.he amount of the unpaid principal balance of the
<br />Note (co.insurance not exceeding 80% permitt.ed). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Benellciary and shall not be cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />Trust.or shall promplly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and
<br />t.ear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATK Trustor shaH appe:u' in and contest any action or proceeding purporting to
<br />af1cctthe security hereof or t.he rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of
<br />evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor
<br />fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments, Beneficiary and/or
<br />Trustee, each in its own discret.ion, without obligation so to do and without notice to or demand upon Trustor and without
<br />releasing Tnlstor fi'Olll llny obligatioll, lIlay muke or do the sume in lmch IlIIHlIler und to such extent as ei~her may deem
<br />necessary to protect the security hereof. Trustor shall, immediately UPOIl demand there/or by Beneticiary, pay all costs and
<br />expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of tille, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid
<br />within ten (10) days of written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the Trust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br />any public improvement or condemnation proceeding, or in any other manner induding deed in lieu of Condemnation
<br />("Condemnation"l, or should Trustor receive any notice or other information regarding such proceeding, Trustor shall give prompt
<br />written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or relief
<br />therefor, and shall be en tilled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br />Beneficiary shall also he untitled to maku any compromise or settlement in connection with such taking or damage. All such
<br />compensation, awards, damages, rights of action and proceeds awarded to '['rustor (the "Proceeds") are hereby assigned to
<br />Beneficiary and Trustor agrees t.o execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. FIJ'I'UHE ADVANCES. Upon J'{)quest ofTJ'ustor, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property
<br />to Trustor may maklJ future advances to Trustor, Such future advances, with interest thereon, shall be secured by this Deed of
<br />Trust when evidenced by promissory notes stating that said notes are secured hereby.
<br />
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