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<br />*105047162800000000180340*
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated May 30, 2008, among LEE'S FAMILY RESTAURANT, INC., A NEBRASKA
<br />
<br />CORPORATION, whose address is 2920 W OLD FAIR RD, GRAND ISLAND, NE 68803 ("Trustor"); BANK OF
<br />
<br />THE WEST, whose address is Grand Island #21341,3301 W State St, Grand Island, NE 68803 (referred to
<br />
<br />below sometimes as "Lender" and sometimes as "Beneficiary"); and BANK OF THE WEST, whose address is
<br />
<br />3301 WEST STATE ST., GRAND ISLAND, NE 68803 (referred to below as "Trustee").
<br />
<br />CONVEY ANCE AND GRANT. For valuable consideration. Trustor conveys to Trustee in trust. WITH POWER OF SALE, for the benefit of
<br />lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />
<br />County, State of Nebraska:
<br />
<br />Lot 1 in Hermes Subdivision in the City of Grand Island, Nebraska, as surveyed, platted and recorded;
<br />
<br />subject to an easement over the Westerly 20 feet for ingress and egress of motor vehicles to and from Lots
<br />
<br />2 and 3 in Hermes Subdivision in the City of Grand Island, Nebraska, as surveyed, platted, and recorded.
<br />
<br />The Real Property or its address is commonly known as 2920 W OLD FAIR RD, GRAND ISLAND, NE 68803.
<br />
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by lender to Trustor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts lender in its discretion may loan to Trustor, together with all interest thereon.
<br />
<br />Trustor presently assigns to lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />
<br />THIS DEED OF TRUST. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY. IS GIVEN TO SECURE (AI PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND All OBLIGATIONS
<br />UNDER THE NOTE. THE RELATED DOCUMENTS. AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOllOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Note, this
<br />Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />f15\3lDS
<br />
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