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<br />DEED OF TRUST
<br />
<br />
<br />Space Above This Line For Recording Data
<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is October 7, 2005. The parties
<br />and their addresses are:
<br />
<br />TRUSTOR (Grantor):
<br />J.O. ENTERPRISES, INC.
<br />A Nebraska Corporation
<br />120 W 4th St
<br />Grand Island, Nebraska 68801
<br />
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848-0430
<br />
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<br />TIN: 47-0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />
<br />o
<br />
<br />o
<br />
<br />Parcel 1: The South 1/2 of Lot 5, Block 65, Original Town of Grand Island, Hall County, Nebraska
<br />Parcel 2: Lot 1, CSG Subdivision, City of Grand Island, Hall County, Nebraska
<br />
<br />The property is located in Hall c:ounty at 205 N Wheeler & 220,222 & 224 W 2nd
<br />120,122,124 W 4th St, Grand Island, Nebraska 68801.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone
<br />time will not exceed $257,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 303684-100, dated October 7,2005, from J.O.
<br />Enterprises, Inc., Jacinto Corona and Carmen Corona (Borrower) to Lender, with a loan amount of
<br />$257,000.00.
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br />with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br />record.
<br />6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br />
<br />J.o. Enterprises, Inc.
<br />Nebraska Deed Of Trust
<br />NE/4XX28333000815100004558015100705Y
<br />
<br />"1996 8ankers Systems, Inc., St. Cloud, MN ~
<br />
<br />Initials
<br />Page 1
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