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200907310
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9/4/2009 4:15:47 PM
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9/4/2009 4:15:46 PM
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DEEDS
Inst Number
200907310
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20090'7310 <br />SECURITY AGREEMENT <br />Section 4.01 Security Agreement. <br />(A) Security Agreement And Financing Statement Under Uniform <br />Commercial Code. This Deed of Trust shall constitute a security agreement as defined in the <br />Uniform Commercial Code, as adopted in Nebraska ("Code") in the Collateral. Any Collateral <br />installed in or used in the Trust Estate are to be used by the Grantor solely for' Grantor's business <br />purposes or as the equipment and fixtures leased or furnished by the Grantor, as landlord, to <br />tenants of the Trust Estate and such Collateral will be kept at the buildings on the Trust Estate <br />and will not be removed therefrom without the consent of the Beneficiary and may be affixed to <br />such buildings but will not be affixed to any other real estate. The remedies of the Beneficiary <br />hereunder are cumulative and separate, and the exercise of any one or more of the remedies <br />provided for herein ar under the Uniform Commercial Code shall not be construed as a waiver of <br />any of the other rights of the Beneficiary including having any Collateral deemed part of the <br />realty upon any foreclosure thereof. if natice to any party of the intended disposition of the <br />Collateral is required by law in a particular instance, such notice shall be deemed commercially <br />reasonable if given at least ten (10) days prior to such intended disposition and may be given by <br />advertisement in a newspaper accepted for legal publications either separately or as part of a <br />notice given to foreclose the real property or may be given by private notice if such parties are <br />known to Beneficiary. Neither the grant of a security interest pursuant to this Deed of Trust nor <br />the filing of a financing statement pursuant to the Code shall ever impair the stated intention of <br />this Deed of Trust that all Collateral comprising the Trust Estate and at all times and for all <br />purposes and in all proceedings both legal or equitable shall be regarded as part of the real <br />property hereunder irrespective of whether such item is physically attached to the real property or <br />any such item is referred to or reflected in a financing statement. Grantor will on demand deliver <br />all financing statements that may from time to time be required by Beneficiary to establish and <br />perfect the priority of Beneficiary's security interest in the Trust Estate and shall pay all expenses <br />incurred by Beneficiary in connection with the renewal or extensions of any financing statements <br />executed in connection with the Trust Estate; and shall give advance written natice of any <br />proposed change in Grantor's name, identity or structure and will execute and deliver to <br />Beneficiary prior to or concurrently with such change all additional financing statements that <br />Beneficiary may require to establish and perfect the priority of Beneficiary's security interest. <br />(B) Maintenance of Trust Estate. Grantor will keep the Trust Estate fully <br />equipped and will replace all worn out or obsolete Collateral with fixtures or personal property <br />comparable thereto when new, and will not, without Beneficiary's prior written consent, remove <br />from the Trust Estate any fixtures ar personalty covered by this Deed of Trust unless the same is <br />replaced by Grantor with an article of equal suitability and value when new, owned by Grantor <br />free and clear of any lien or security interest (other than the Permitted Encumbrances) and the <br />lien and security interest created by this Deed of Trust. All substituted items shall become a part <br />of the Trust Estate and subject to the lien of this Deed of Trust. Any amounts received or <br />allowed Grantor upon the sale or other disposition of the removed items of Collateral shall be <br />applied first against the cost of acquisition and installation of the substituted items. Nothing <br />herein contained shall be construed to prevent any tenant from removing from the Trust Estate <br />trade fixtures, furniture and equipment installed by the tenant and removable by the tenant under <br />1~ <br />
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