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~., ~ ~ ~- <br /> ~o <br />q~ <br /> <br />na ~~ <br />m ~ ~ ~ ~ ~ <br />~ <br />~~ <br />~ ~~ ~~ ~ c <br /> <br />~ ~~ e ~ <br />~ ~ <br />~ ~ <br />~ <br />~..^ <br />o <br />~.~••• N <br /> ~.: <br /> r., ~ ~ ~ m <br /> <br /> ~ ~ ~ -~ ~ `~` m <br />1 ~ ~~ c~ <br /> A <br /> A t!' cri -T, ~ ~ <br />'~ ~ ~' ~' x rr'1 ~ <br />7C = ~ ~ ~ 7~ CA ~ Z <br /> ~=~ 3 ~ a ~ <br /> G ~' ~ w ~ <br /> ~' <br /> ~ ~ ~ -a m <br /> cn ~ ~ <br /> ~ <br /> °~] <br />(Space Above T"his Line For Recording Data) <br />CUNSTRUCTIO~ SECURITY AGREEMENT - <br />FUTURE ADVANCES AND FUTURE~ODLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED <br />OF TRUST <br />This COMMERCIAL CONSTRUCTION REAL ES'T'ATE DEED OF TRUST ("Security Instrument") is made on <br />May 19, 2010 by the grantor(s) Sterling Development, L.L.C., a Nebraska Limited Liability Company, whose <br />address is 3421 W. State Street, GRAND ISI.,AND, Nebraska 6$803 ("Grantor"). The trustee is Arend R. <br />Baack, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee"). 'I'he beneficiary is <br />Ilome Federal Savings & Loan Association of Grand Island whose address is 221 South Locust Street, <br />Grand Island, Nebraska 68801 ("Lender"), which is organized and existing under the laws of the United States of <br />America. Grantor in consideration of loans extended by Lender up to a maximum principal amount of One <br />Hundred Sixty-eight Thousand Eight Ilundred and 00/100 Dollars ($168,SOO.pO) ("Maximum Principal <br />Indebtedness"), and for other valuable consideration, the receipt of which is acknowledged, irrevocably grants, <br />conveys and assigns to Trustee, in trust, with power of sale, the following described property located in the <br />County of Hall, State of Nebraska: <br />Address: 3936 Norseman Ave, GRAND ISLAND, Nebraska 68803 <br />Legal Description: Lot Two (2), Blpck 'T'wo (2), Sterling Estates Subdivision, in the City of Grand Island, <br />Hall County, Nebraska. <br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures, <br />tenements, hereditaments, equipment, rents, 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, or 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, or <br />affixed on and used in connection therewith (hereinafter called the "Property"). <br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements, <br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions, <br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other <br />docutnents 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 Instniment by reference thereto, with the same <br />force and effect as if fully set forth herein. <br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be 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 or 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"). <br />FUTURE ADVANCES. To the extent permitted by law, this Security Instntxnent 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 />may be no 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 bender, howsoever arising and whensoever incurred. <br />CONSTRUCTION LOAN AGREEMENT. This Security Instrument is made in conjunction with a Construction <br />Loan Agreement dated the same date as this Security Instrument and is subject to all of the provisions of the <br />Construction Loan Agreement as if those provisions were fully set forth in this security Instrument and made a part <br />of it. <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 />~ 2004-2009 Cwnpliance Systems, Inc FCEB-SA64 - 2009.12.339 <br />Commercial Construction Security Instrument - PL40U7 Page 1 of 5 ~ www.compliancesystems.com <br />~~, 5D <br />