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<br />TRUST DEED
<br />
<br />THIS TRUST DEED is made and entered into this ) -1 day of June, 2008 by and between
<br />Universal Builders of Grand Island, Nebraska. a Nebraska general partnership, TRUSTOR, whether one or more;
<br />and Fidelity National Title Insurance Company, TRUSTEE, and GNR Development Corp. of Hastings, Nebraska,
<br />a Nebraska Corporation. BENEFICIARY. whether ooe or more.
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<br />WITNESSETH: That the Trustor does by these presents grant, bargain, sell, convey and confino unto
<br />the Trustee, the Power of Sale, the Following Described real estate including all buildings, improvements, and
<br />fixtures of every kind now or hereafter erected or placed on the real estate situated in Hall County, Nebraska,
<br />described as:
<br />
<br />Lot Three (3), Pleasant View Fifteenth Subdivision to the City of Grand Island, Hall County, Nebraska.
<br />
<br />In the event of the sale, transfer or conveyance of the above-described property to any third party, all
<br />sums secured hereby shall be at once due and payable.
<br />
<br />TO HAVE AND HOLD the same, with all rights, privileges, and appwtenances thereunto belonging,
<br />unto the Trustee, his executors, administrators, heirs and assigns forever. And the Trustor hereby expressly
<br />waives., releases, and relinquishes unto the Trustee all right, title, claim, interest, benefit and estate whatever, in
<br />and to the above described premises and each and every part thereof, which is given by or results from all laws of
<br />the State of Nebraska pertaining to the exemption of homestead. And the Trustor covenants with the Trustee that
<br />he will forever warrant and defend the title to the same against the lawful claims ofall persons whomsoever.
<br />
<br />IN TRUST. HOWEVER, for the following described purposes; WHEREAS, the Trustor did on this date
<br />execute a Promissory Note evidencing a loan for the principal sum of$27,500.00 and interest thereon according to
<br />the terms of said Promissory Note, being payable in One Installment at such place as Beneficiary may designate in
<br />writing from time to time. Notwithstanding any provision contained herein or in said Promissory Note to the
<br />contrary. if not sooner paid, all sums due and owing under the terms of said Note shall be paid on the 6th day of
<br />January, 2009.
<br />
<br />In the event of default, Beneficiary's remedies shall not be limited to those provided for herein. This
<br />Trust Deed may be foreclosed in the manner prescribed by law for foreclosure of mortgages.
<br />
<br />IT IS AGREED by and between the parties hereto that the Trustor shall: (l) pay all present and future
<br />taxes and assessments, general and special, against said property before the same become delinquent or
<br />actionable; (2) keep all improvements created on the land insured as may be required from time to time by the
<br />Beneficiary against loss by fire and other hazards, casualties and contingencies, in such amounts for such periods
<br />as are reasonable and may be required by the Beneficiary, and to keep all policies of such insurance in force and
<br />effect and delivered to the Beneficiary and naming Trustor and Beneficiary as loss payees, as their interests may
<br />appear; (3) pay and comply with all of the terms and conditions of ally lien, claim or indebtedness that may be
<br />senior to and take precedence over this trust Deed as soon as such pay mention or of such lien, claim or
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