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<br />WHEN RECORDED MAIL TO:
<br />Equitable Bank
<br />Diars Avenue Branch
<br />PO Box 160
<br />__f~rand Island, NE BB802-0760 .,_., .....,_.,_ FOR RECORDER'S IJSE ONLY
<br />CONSTRUCTION DEED OF TRUST
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<br />THIS DEED OF TRUST IS A CONSTRUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT
<br />MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time $685,000.00.
<br />THIS DEED OF TRUST is dated July 17, 2009, among O'NEILL WOOD RESOURCES, L.L.C.; A Nebraska
<br />Limited Liability Company ("Trustor"); Equitable Bank, whose address is Diars Avenue Branch, PO Box 760,
<br />Grand Island, NE 68802-0160 (referred to below sometimes as "Lender" and sometimes as "Beneficiary");
<br />and Equitable Bank (Grand Island Regionl, whose address is 113-115 N Locust St; PO Box 160, Grand Island,
<br />NE 6$$02-0160 (referred to below as "Trustee").
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rightsl; and all other rights, royaltlss, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />County, State of Nebraska:
<br />A Tract of land comprising a part of the Southeast Quarter (SE1/4) of Section Eighteen (181, Township
<br />Eleven (11) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska and more particularly
<br />described as follows:
<br />Beginning at a point of intersection of the northerly right of way line of Old Potash Highway with the
<br />westerly right of way line of Alda Road, said point being Sixty (60.0) feet north of (measured perpendicular
<br />to) the south line of said Southeast Quarter (SE1/4), and Forty-Seven and Fifty Five Hundredths (47.55)
<br />feet west of (measured perpendicular to) the east line of said Southeast Quarter (SE1/4); thence running
<br />westerly, slang and upon said northerly read right of way line, which is, Sixty (60.0) feet north of
<br />(measured perpendicular to) and parallel with the south line of said Southeast Quarter (SE1/4), a distance
<br />of One Thousand Six Hundred One and Fifty Two Hundredths (1,601.52) feet to a point on the centerline
<br />of an 86 foot wide drainage easement; thence deflecting right 89°41'05"and running northely, along and
<br />upon the centerline of said drainage easement, a distance of Four Hundred Eighty-Eight and Seventy-Five
<br />Hundredths (48$.75) feet to a point on the centerline of a railroad spur track; thence deflecting right
<br />90° 13' 13" and~ur,ni~l~e~si~e ,along and upon the centerline of said railroad spur track a distance of One
<br />Thousand Six un re sl~,f; 3) feet to a point an the westerly right of way line of said Alda Road,
<br />said paint being Forty Eight and Ninety-Two Hundredths (48.92) feet west of the east line of said Souteast
<br />Quarter (SE1/4) (as measured along and upon the centerline of said railroad spur trackl; thence deflecting
<br />right 89°37'05" and running southerly, along and upon said westerly road right of way line, a distance of
<br />Four Hundred Ninety-One and Four Tenths (491.40) feet tv the point of beginning.
<br />The Real Property or its address is commonly known as 7870 Old Potash Highway, Grand Island, NE 68803.
<br />The Real Property tax identification number is 400200651.
<br />FUTURE ADVANCES. In addition to the Note, this Deed of Trust secures all future advances made by Lender to Borrower whether or not
<br />the advances are made pursuant to a commitment. Specifically, without limitation, this Deed of Trust secures, in addition to the amounts
<br />specified in the Note, all future amounts Lander in its discretion may loan to Borrower, together with all interest thereon.
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to Lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE IAI PAYMENT OF THE INDEBTEDNESS AND IBl PERFORMANCE OF ANY AND ALL OBLIGATIONS
<br />UNDER THIS DEED OF TRUST. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OP RENTS AND THE SECURITY INTEREST IN THE
<br />RENTS AND PERSONAL PROPERTY, IS ALSO GIVEN TO SECURE ANY AND ALL OF BORROWER'S OBLIGATIONS UNDER THAT CERTAIN
<br />CONSTRUCTION LOAN AGREEMENT BETWEEN BORROWER AND LENDER OF EVEN DATE HEREWITH. ANY EVENT OF DEFAULT UNDER
<br />THE CONSTRUCTION LOAN AGREEMENT, OR ANY OF THE RELATED DOCUMENTS REFERRED TO THEREIN, SHALL ALSO BE AN EVENT
<br />OF DEFAULT UNDER THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: la) this Deed of Trust is executed at Borrower's request and
<br />not at the request of Lender; Ib1 Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the
<br />Property; Ic) the provisions of this Daed of Trust do not conflict with, or result in a default under any agreement or other instrument
<br />binding upon Trustor and do not result in a violation of any law, regulation, court decree or order applicable to Trustor; Id) Trustor has
<br />established adequate means of obtaining from Borrower on a continuing basis information about Borrower's financial condition; and (e)
<br />Lender has made no representation to Trustor about Borrower (including without limitation the creditworthiness of Borrower.
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti-deficiency" law, or any other
<br />law which may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise
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