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<br />
<br />DEED OF TRUST
<br />
<br />This DEED OF TRUST is made as of the 15th day of May, 2008, by and among the Trustor, JAMES P.
<br />MASAT AND CAROLYN A. MASAT, HUSBAND AND WIFE, AND STELLA M. LEVEA, A SINGLE
<br />PERSON, whose mailing address for purposes of this Deed of Trust is 2621 WEST HIGHWAY 30, P. O. BOX
<br />1927, GRAND ISLAND, NE 68802-1927 (herein, "Trustor", whether one or more), the Trustee, AREND R.
<br />BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is P. O.
<br />Box 790, Grand Island, NE 68802-0790 (herein "Trustee"), and the Beneficiary, HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NE
<br />68802-1009 (herein "Lender").
<br />
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein
<br />to(herein "Borrower", whether one or more), and the trust herein created, the receipt of which is hereby
<br />acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and conditions
<br />hereinafter set forth, legally described as follows:
<br />
<br />LOT THREE (3), COMMERCIAL INDUSTRIAL PARK SECOND SUBDIVISION IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY NEBRASKA, AND THE EAST FIFTY FEET (E
<br />50') OF LOT TWO (2) AND THE NORTHEAST 62.65 FEET OF LOT FOUR (4),
<br />COMMERCIAL INDUSTRIAL PARK SECOND SUBDIVISION, IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA, TOGETHER WITH THE TRACT OF LAND
<br />DESCRIBED AS FOLLOWS: THAT PART OF FRONTAGE ROAD IN COMMERCIAL
<br />INDUSTRIAL PARK SECOND SUBDIVISION, VACATED BY ORDINANCE NO. 6450,
<br />MORE PARTICULARLY DESCRIBED AS THAT PART OF FRONTAGE ROAD ABUTTING
<br />UPON THE EAST 50 FEET, OF 15.240 METERS, OF LOT 2 AND ALL OF LOT 3,
<br />COMMERCIAL INDUSTRIAL PARK SECOND SUBDIVISION IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a Deed of
<br />Trust Note dated May IS, 2008, having a maturity date of August 15, 2008, in the original principal amount of ONE
<br />HUNDRED THOUSAND AND NO/I00 Dollars ($100,000.00), and any and all modifications, extensions and
<br />renewals thereof or thereto and any and all future advances and re-advances to Borrower (or any of them if more
<br />than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the
<br />payment of other sums advanced by Lender to protect the secuHty of the Note; (c ) the performance of all covenants
<br />and agreements of Trustor set fortIi herein; and (d) all present and future indebtedness and obligations of Borrower
<br />(or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br />note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the
<br />Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br />assignments of leases and rents, shall be referred to herein as the "Loan Instruments".
<br />
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />
<br />I. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />
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