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20100198) certain Commercial Loan Agreement entered into by and between Trustor, Riverside Golf Club of Grand Island and Beneficiary, contemporaneously herewith, as amended from time to time (the "Loan Agreement"). The Promissory Note referred to above has been or will be delivered to and are or will be payable to the order of the Beneficiary. By this reference, said Promissory Note is made a part hereof, along with and including any and all modifications, extensions and renewals thereof. Though there may be more than one promissory note, said indebtedness is referred to collectively herein as the "Note." (b) Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the default rate of as established in the Loan Agreement. This Deed of Trust, the Note, the Loan Agreement and any other instrument given to evidence or further secure the payment and performance of any obligation secured hereby are referred to collectively as the "Loan Instruments." TO PROTECT THE SECURITY OF THIS DEED OF TRUST: Payment of Indebtedness; Covenant of Title. (a) Trustor shall pay when due the principal of the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments. (b) Trustor hereby covenants with Beneficiary that Trustor is lawfully seized of the Property hereby conveyed, that Trustor warrants and will defend the title to the Property against the lawful claims of all persons whomsoever, that Trustor has the right to grant and convey the Property, and that the Property is unencumbered by any mortgage, trust deed, contract to purchase, or otherwise. 2. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and, upon the request of Beneficiary, shall provide Beneficiary with evidence of the payment of same. Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby without regard to any law that may be enacted offering payment of the whole or any part thereof upon the Beneficiary. In the event that Trustor defaults in making any such payment prior to delinquency, Beneficiary shall have the option to require Trustor to escrow taxes in advance. 3. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring any improvements and buildings constituting part of the Trust Estate in commercially reasonable amounts. Upon the request of any Beneficiary, such insurance policies shall contain a standard mortgage clause in favor of Beneficiary, and shall not be canceled, modified, or terminated without thirty (30) days prior notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for 2