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<br />wp015/00027-9/13577
<br />9/25/84 0814
<br />
<br />84 - 005068
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<br />CONSTRUCTION DEED OF TRUST, ASSIGNMENT OF LEASES
<br />AND~NTS AND SECURITY AGREEMENT
<br />
<br />THIS DEED OF TRUST (hereinafter referred to as this "Deed")
<br />is made this 26th day of September, 1984, by and between GRAND
<br />ISLAND MALL, LTD, , a Nebraska limited partnership with a mailing
<br />address located at c/o The Meridith Organization, Inc. 99 Park
<br />Avenue, New York, N,Y. 10016, (hereinafter referred to as
<br />"Grantorn), WILLIAM W. BJI.RNEY with an office at Lincoln Plaza,
<br />Kearney, Nebraska 68847 (hereinafter referred to as "Trustee")
<br />and BALCOR;'M'lERICAN E.,XPRESS REAL ESTl'.TE FINANCE INC. ,an Illinois
<br />corporation with its principal place of business at 4849 Golf
<br />Road, Skokie, Illinois 60077 (hereinafter referred to as
<br />"Beneficiary") .
<br />
<br />B ~ Q 1 I ~ 1 ~:
<br />
<br />A. Loan ~~men'C 2.!:l3- Loan Amount, The Grantor is the
<br />owner of the land (the "Land") described on Exhibit A attached
<br />h~reto, Tc provide funds for the cunstruction of improvements on
<br />the Land, the Grantor and the Beneficiary have entered into a
<br />Construction Loan Agreement (herein, as it may from time to time
<br />be amended, supplemented or modified, referred to as the "Loan
<br />Agr'eement" ) bearing even date herewith providing for the
<br />Grantor's performance of certain rf;,:', esentatinns and warranties
<br />and fat. loans and advances t.o b!' :aJe from ',-ime to time by the
<br />Beneficlary to the Grantor pUI:'Sua.lt to the terms and conditions
<br />set out therein, In amounts not to exceed in the aggregate TEREE
<br />l'lILLION ONE hlJNDRED FIFTY THO'JSAND AND No/lOOths Dollars
<br />($3,150,000,00) (herein, such amount is called the "Loan
<br />Amount" ) , Any term capi tallzed but not specifically defined in
<br />this Deed, WhlCh lS capitallzed and defined in the Loan
<br />Agreement, shall hav~ the same meaning for purposes of this Deed
<br />as J..~ llC:l:5 [01- purposes of the Loan Agreement.
<br />
<br />B, Note, Princloal and Interest.. Pursuant to the Loan
<br />Agreement, the -'Borro:':;er -- has -executed and delivered to the
<br />Beneflciary a promlssory note dated the date hereof, payable to
<br />the order of the Eeneficiary at Skokie, Illinois, and due and
<br />payable in full if not sooner pald on or before April 1, 1986,
<br />subJect to extenslon and acceleration as provided in such
<br />promissory note or .In 'the Loan Agreement, in a princ'ipal amount
<br />equal to the Loan .~ount (herein, such promissory note, together
<br />wi t.h any and all amendments or supplements thereto, extensions
<br />thereof and notes WInch may he taken in whole or partial renewal,
<br />substl tutlon or extenslon thereof or which may evidence any of
<br />the lndebtedness secured hereby, shall be called the "Note").
<br />The Note bears lnterest as provided in the Note, on the principal
<br />amount thereof from tlme to tlme outstanding; all principal and
<br />J.nterest on the Note are payable in lawful money of the Uni ted
<br />States of Amerlca at the office of the Beneficiary in Skokie,
<br />Illlnois, or at such other place as the holder thereof may from
<br />time to tlme appolnt in wri ting. The Grant_or is or wj 11 become
<br />justly indebted to the Beneficiary in the Loan Amount in
<br />accordance wi~~ the terms of the Loan Agreement,
<br />
<br />C, Other .secu~~_Documents. Pursuant to the Loan Agree-
<br />ment, the Grantor has eKecuted and delivered to the Beneficiary
<br />this Deed and other Security Documents (deflned for purposes
<br />hereof as defined in the Loan Agreement).
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