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20090G37~
<br />COMMERCIAL REAL ESTATE DEED OF TRUST
<br />This COMMERCIAL REAL ES'T'ATE DEED OF TRUST ("Security Instrument") is made on July 31, 2009 by
<br />the grantor(s) The Estate of Leslie L. Scholz, Susan K. Scholz, Personal Representative, ;
<br />- whose address is 7712 N North Road, Grand Island, Nebraska 68803-9514 ;and Susan K. Scholz,
<br />whose address is 7712 N North Road, Grand Island, Nebraska 6$803-9514 ("Grantor"). The trustee is Union
<br />Bank and Trust Company whose address is PO Box 5166, Grand Island, Nebraska 6$802 ("Trustee"). The
<br />beneficiary is Union Sank & Trust Company whose address is 2008 North Webb Road, Grand Island,
<br />Nebraska 6$803 ("Lender"), which is organized and existing under the laws of the State of Nebraska. Grantor in
<br />consideration of loans extended by Lender up to a maximum principal amount of Seven Thousand Three
<br />Hundred Forty-two and 98/100 Dollars ($7,342.98) ("Maximum Principal Indebtedness"), and for other valuable
<br />consideration, the receipt of which is acknowledged, irrevocably grants, conveys and assigns to Trustee, in trust,
<br />with power of sale, the land and property described below:
<br />Legal Description: The Northeast Quarter (NEl/4) of Section Eleven (11), Township Twelve (12) North,
<br />Range Ten (10) West of the 6th P.M., Hall County, Nebraska, excepting a tract of land more particularly
<br />described in Warranty Deed recorded as Document No. 200206091; except Scholz Sub, Lot 1
<br />Property Size: 160 acres.
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, runts, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock that may now, ar at any time in the future, be located on and/or used in
<br />connection with the above_described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, ar
<br />affixed on and used in connection therewith (hereinafter called the "Properly").
<br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, constrltction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents are hereby made a part of this Security Instrument by reference thereto, with the same
<br />force and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instnment secures the principal amount shown above as maybe evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Grantor to Lender, howsoever created ar arising,
<br />whether primary, secondary or contingent, together with any interest or charges provided in or arising out of such
<br />indebtedness, as well as the agreements and covenants of this Security Instrument and all Related Documents
<br />(hereinafter all referred to as the "Indebtedness"). INCREASED MAXIMUM PRINCIPAL
<br />INDEBTEDNESS: Grantor hereby acknowledges that the principal amount shown above will
<br />automatically be increased by any future advances or other indebtedness of the Grantor to the Lender.
<br />Notwithstanding the foregoing, the parties agree that the to l amount which is secured by this Security
<br />Instrument shall not exceed $14,685.96 (initials)
<br />FUTURE ADVANCES. To the extent permitted by law, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />maybe nn balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate hereby conveyed and has the exclusive right to mortgage, grant, convey and assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof iuI good repair, working order, and condition and will from time to time, snake all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />O 24044009 Compliance Syatema, Ina. 09A4-C464 - 2009.04.59
<br />Commercial Real E6tate Security Instrumem - DL4009 Page 2 of 6 www.complianceayatems.com
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