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<br /> 18.06.2008 "TI File No. 16-471
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<br />WHEN RECORDED, PLEASE RETURN TO:
<br />First National Bank of Omaha
<br />1620 Dodge Street, Stop 4300
<br />Omaha, Nebraska 68197-4300
<br />Attention: Mortgage Loan Department
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<br />DEED OF TRUST, SECURITY AGREEMENT
<br />AND ASSIGNMENT OF RENTS
<br />
<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT AND SECURES AN
<br />OBLIGATION WHICH THE TRUSTOR INCURRED FOR THE PURPOSE OF MAKING AN
<br />IMPROVEMENT OF THE REAL ESTATE IN WHICH THE SECURITY INTEREST IS GIVEN
<br />THAT IS A CONSTRUCTION SECURITY INTEREST.
<br />
<br />THIS DEED OF TRUST, SECURITY AGREEMENT AND ASSIGNMENT OF RENTS
<br />(this "Deed of Trust") is made as of August lS...., 2008, by and among Village Development-
<br />Grand Island, LLC, a Nebraska limited liability company ("Trustor"), whose address is 1045
<br />Lincoln Mall, Suite 300, Lincoln, Nebraska 68508; FIRST NATIONAL BANK OF OMAHA, a
<br />national banking association, Omaha, Nebraska ("Beneficiary"), whose address is 1620 Dodge
<br />Street, Stop 4300, Omaha, Nebraska 68197-4300, Attention: Mortgage Loan Department; and
<br />FIRST NATIONAL BANK OF OMAHA, a national banking association, whose address is 1620
<br />Dodge Street, Stop 4300, Omaha, Nebraska 68197-4300 ("Trustee").
<br />
<br />FOR GOOD AND VALUABLE CONSIDERATION, including the indebtedness herein
<br />recited and the trust herein created, the receipt of which is hereby acknowledged:
<br />
<br />I. Trustor hereby irrevocably warrants, grants, bargains, sells, transfers, conveys
<br />and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiary, under and subject to the terms and conditions hereinafter set forth, all of the
<br />following-described estate, property and interest of Trustor now owned or hereafter acquired,
<br />together with all cash and non-cash proceeds thereof, which may be referred to herein
<br />collectively as the "Real Property":
<br />
<br />A. The "Property," being the real property located in the City of Grand Island,
<br />County of Hall, State of Nebraska, described in Exhibit "A," attached hereto and by this
<br />reference made a part hereof, together with all rents, issues, profits, royalties, income
<br />and other benefits derived from the Property (collectively, the "rents"); all estate, right,
<br />title and interest of Trustor in and to all leases or subleases covering the Property, or any
<br />portion thereof, now or hereafter existing or entered into, including, without limitation, all
<br />cash or security deposits, advance rentals and deposits or payments of similar nature;
<br />all right, title and interest of Trustor in and to all options to purchase or lease the
<br />Property or any portion thereof or interest therein, and any greater estate in the Property
<br />owned or hereafter acquired; all interests, estate or other claims, both in law and in
<br />equity, which Trustor now has or may hereafter acquire in the Property; all easements,
<br />rights-of-way and rights used in connection therewith or as a means of access thereto,
<br />and all tenements, hereditaments and appurtenances thereof and thereto, and all water
<br />rights and shares of stock evidencing the same; all right, title and interest of Trustor, now
<br />owned or hereafter acquired, in and to any land lying within the right-of-way of any
<br />street, open or proposed, adjoining the Property and any and all sidewalks, alleys and
<br />strips and gores of land adjacent to or used in connection with the Property;
<br />
<br />B. Any and all buildings and improvements now or hereafter erected on the
<br />Property, including, but not limited to, the fixtures, attachments, appliances, equipment,
<br />machinery, and other articles attached to such buildings and improvements (the
<br />"Improvements");
<br />
<br />;ri PROFESSIONAL TITLE AND ESCROW CO.
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<br />Deed of Trust, Security Agreement an tr!~rr2&3i~UiWE W, OODS DRIVE, #300
<br />#553480-v1 V LINCOLN NE 68512
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<br />, ~ 4333 e"
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