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<br />DEED OF TRUST
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<br />This Deed of Trust is made this 3 day of October, 2005, by Douglas C. Luth and .'
<br />Sherri L Luth, ~9~d and wife, hereinafter referred to as Trustor, whether one or more, whose
<br />mailing address ~N. 90th Road, Cairo, Nebraska 68824; Loren L Lindahl, Attorney at Law,
<br />hereinafter referred to as Trustee, whose mailing address is P.O. Box 277,551 North Linden,
<br />Wahoo, Nebraska 68066; and Gas Island LLC., a Nebraska Limited Liability Company,
<br />hereinafter referred to as Beneficiary, whose mailing address is 480 Branched Oak Road, Davey,
<br />NE 68336.
<br />
<br />For Valuable Consideration, Trustor irrevocably transfers to Trustee, In Trust, With
<br />Power of Sale, for the benefit of Beneficiary, subject to the terms of this Deed of Trust, the real
<br />property located in Saunders County, Nebraska, described as follows:
<br />
<br />Lot One (1), Grand Island Mall Thirteenth Subdivision, in the City of
<br />Grand Island, Hall County, Nebraska,
<br />
<br />together with all improvements of any kind now thereon, or hereafter erected thereon, and all
<br />easements, rights, appurtenances, and all fixtures now or hereafter attached to the property, all of
<br />which, including replacements and additions thereto, shall be deemed to be and remain a part of
<br />the property covered by this Deed of Trust.
<br />
<br />The Property interest conveyed to the Trustee is referred to collectively as the "Trust
<br />Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />A. Payment of indebtedness in the sum of $30,000.00, with interest thereon, as
<br />evidenced by a certain promissory note of even date, (the "Promissory Note") with a maturity
<br />date of August 1,2006, executed by Trustor, which is payable to the order of Beneficiary, and
<br />which by this reference, is made a part hereof, and
<br />
<br />B. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with
<br />interest thereon at the maximum lawful rate then in existence.
<br />
<br />This Deed of Trust, and the Promissory Note, are referred to collectively as the "Loan
<br />Instruments" .
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall make all payments, charges and
<br />fees as provided in the Loan Instruments.
<br />
<br />2. TAXES. Trustor shall pay all taxes and special assessments levied against the
<br />Trust Estate or upon Beneficiary's interest herein before the same become delinquent.
<br />
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
<br />coverage insurance on the improvements of the Trust Estate in a sum equal to the principal
<br />balance of the note. Such insurance shall contain a loss payable clause in favor of Beneficiary.
<br />Trustor shall maintain the Trust Estate and shall not commit waste of the trust estate. Trustor
<br />shall not remove or destroy any improvements or buildings located on the premises without a
<br />written approval and permission of the Beneficiary.
<br />
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