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<br /> DEED OF TRUST
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<br />THIS DEED OF TRUST, is made as of 'I rf) day of January, 2009, by and among Wilmar Realty, LLC ("Trustor"),
<br />whose mailing address is c/o William C. Martin, 620 West State Street, Grand Island, Nebraska 68802-1647; Ronald S. Depue,
<br />Attol11cy-at-law ("Trustee"), whose mailing address is 308 North Locust Street #501, PO Box 460, Grand Island, Nebraska 68802;
<br />and Dub's 1lR1C. ("Beneficiary"), whose mailing address is c/o Richard A. Dubas, 35 Ponderosa, Grand Island, Ncbraska 68803.
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<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed
<br />of Trust, the rcal property located in the City of Grand Island, County of Hall, State of Nebraska, and legally described as follows
<br />(the "Property"):
<br />
<br />North 117'8" of the South 275'8" ofthe West 132' of Lot 17, Home Subdivision, Grand Island, Hall County,
<br />Nebraska (known locally as 1917 N. Broadwell A venue, Grand Island, Hall County, Nebraska 68803); and
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<br />TOGETHER WITH, all rents, easements, appurtenances, hercditaments, interests in adjoining roads, streets and alleys,
<br />improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become an integral
<br />part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $152,500.00, with interest thereon, as evidenced hy
<br />that certain promissory note of even date (the "Note") with a maturity date of January 10, 2011, made a part hereof, and any and
<br />all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />,. _ percent (__%) per annum, and
<br />c. The performance of Trustor's cpvenants and agreements.
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<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and perfonllance
<br />of any obligation secured hereby arc referred to collectively as the "Loan Instruments."
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1 . PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />indcbtedness evidenced by the Note, charges, fees and all other sums as providcd in the Loan Instruments.
<br />2. l' A XES AN 0 ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind, now, or
<br />hereafter levied against the trust estate or any part thereof as follows:
<br />(initi alone)
<br />X Trustor shall directly pay such taxes, without notice or demand as each installment comes due and shall provide
<br />the Beneficiary with evidence ofthe payment ofthe same.
<br />TrLlstor shall pay to Beneficiary one-twelfth of the real estate taxes each month and such other assessments as
<br />they bccome due. The one-twelfth payment shall be adjusted annually as the taxes change and Trustor agrees
<br />that after payment of the taxes each year that any deficiency will be promptly paid to Bcneficiary. Beneficiary
<br />agrees to provide Trustor with receipts showing that the real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring thc
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal
<br />balance of the Note (co-insurance not exeecding 80% permitted). Such insurance policy shall contain a standard mortgage clause
<br />in favor of Beneficiary and shall not be cancelable, terminable or modifiable without ten (10) days prior written notice to
<br />Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary
<br />wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses,
<br />including cost of evidcnee of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may
<br />appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in any of the Loan Instruments,
<br />Bencficiary and/or Trustec, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor
<br />and without releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may
<br />deem nece~~ary to protect the security hereof. Trustor shall immediately upon demand therefor by Beneficiary, pay all costs and
<br />expenscs inCllrred by Beneficiary in connection with the exercise by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid
<br />within ten (10) days of written demand shall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMA1N. Should the Trust E~tate, or any part thereof or interest therein, be taken or damaged by
<br />reason of any public improvement or condemnation proeecding, or in any other manner including deed in lieu of Condemnation
<br />("Condemnation"), or should Trustor receive any notice or other information regarding such proceeding, Trustor shall give
<br />prompt written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or
<br />reliefthercfor, and shall be entitled at its option to commence, appear in and prosecute in its OWllname any action or proceedings.
<br />Bencficiary shall also be entitled to make any compromise or settlement in connection with such taking or damage. All such
<br />compcnsation, awards, damages, rights of action and proceeds awarded to Trustor (the "Proceeds") are hereby assigned to
<br />Beneficiary and Trustor agrecs to execute such further assignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. FUTURE ADY ANCES. Upon request of Trustor, Beneficiary, at Beneficiary's option, prior to reconveyance
<br />of thc Property to 'frustor may make future advances to Trustor. Such future advances, with interest thereon, shall be secured by
<br />thi~ Dccd of Trust when evidenced by promissory notes stating that said notes are secured hereby.
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