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201005095
<br />2. This Deed of Trust shall secure the repayment of the principal sum and all interest due,
<br />ar to become due, under the terms of the obligation evidenced by the Promissory Nate in the
<br />original principal amount of Six Hundred Thirty-Five Thousand and na/ l00 Dollars ($635,000.00)
<br />executed by Ttustor and J & T Tires and Associates, LLC, a Nebraska limited liability company,
<br />and payable to the order of Beneficiary, of even date herewith, including any and all
<br />modifications, extensions, and renewals thereof, and any and all future advances thereunder, with
<br />interest thereon, and, further, secures the performance of all covenants and agreements of Trustar
<br />set Earth in this Deed of Trust, the aforementioned Promissory Nate, any other promissory Hate
<br />with the Beneficiary, including the reimbursement by Trustor to Beneficiary of any cost or
<br />expense upon default, including but not limited to title abstracting expenses, title insurance
<br />premiums}, Trustee's fees, publication costs, reasonable attorney fees as allowed by law, late
<br />charges, interest, and filing fees which may be incurred by Beneficiary in the event of any such
<br />default. The interest rate on the Promissory Note will fluctuate and adjust every calendar quarter
<br />(the "Change Period"). The initial interest rate is 5.'75% per year. This initial rate is the prime
<br />rate on the first business day of the month in which the SBA received the loan application, plus
<br />2.50%. The initial rate will remain in effect until the first Change Period begins. The "Prime
<br />Rate" is the prime rate in effect on the first business day of the month (as published by The Wa11
<br />Street Journal) in which SBA received the application, ar any interest rate change occurs. Base
<br />Rates will be rounded to two decimal places with .004 being rounded dawn and .005 being
<br />rounded up. The adjusted interest rate shall be 2.50% above the Frime Rate. Lender will adjust
<br />the interest rate an the first calendar day of each Change Period. I~f the SBA purchases the
<br />guaranteed portion of floe unpaid principal balance, the interest rate becomes fixed at the rate in
<br />effect at the time of the earliest uncured payment default. If there is no uncured payment default,
<br />the rate becomes fixed at the rate in effect at the time of purchase.
<br />3. Truster agrees, jointly and severally:
<br />(a) Ta pay, when due and before delinquent, all real estate taxes, special assessments
<br />and all other charges against the Premises for the year 2010 and all subsequent
<br />years, and, upon written demand by Beneficiary, to pay to Beneficiary such
<br />amounts as may be sufficient to enable Beneficiary to pay such real estate taxes,
<br />special assessments, or other charges as they become due.
<br />(b) To keep the Premises hereunder insured against damage by fire, lightning,
<br />explosion, wind storm, hail, hazards included within the term "extended
<br />coverage ,and such other hazards as Beneficiary may require, with loss payable
<br />to Beneficiary and Trustor, as their interests may appear, with the specific
<br />provision that any act or neglect of the Trustor shall not invalidate the interest of
<br />Beneficiary. Trustor shall provide to Beneficiary a Certificate(s) of Insurance
<br />evidencing this fact each time a premium is paid and shall notify Beneficiary thirty
<br />(30) days prior to any cancellation or material modification of the insurance
<br />pnlicy(s). Xf required, Truster shall obtain Federal flood insurance, or other
<br />appropriate special hazard insurance, in amounts equal to the lesser of the insurable
<br />value of the Premises far the maximum limit of coverage available.
<br />I1~ED OF'i'ItYJST
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