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<br />WHEN RECORDED MAIL 70: �„ �
<br />INTRUST BANK, N.A.
<br />'105 N. MAIN, MAIL STOP 2.6
<br />WICHITA, KS 67202 FOR RECORDER'S USE ONLY
<br />"0000000000049943LPp74510202010*
<br />CONSTRUCTION MORTGAGE
<br />THIS MORTGAGE IS A CONS7RUCTION SECURITY AGREEMENT
<br />WITHIN THE MEANING OF 7WE NEBRASKA CONSTRUCTION LIEN ACT
<br />MAXIMUM LIEN. The lien of this Mortgage shall not exceed at any one time 51,200,000.00.
<br />� �
<br />THIS MORTGAGE dated October 20, 2010, is made and executed between Custard Cats, LLC, a Kansas
<br />Limited Liability Company, whose address is 52b McCall Rd, Manhattan, KS 66502-7098 (referred to helow
<br />as "Grantor") and INTRUST Bank, N.A., whose address is 105 N Main, P. O. Bpx One, Wichita, KS 67202
<br />(referred ta below as "l.ender"1.
<br />GRANT OF MORTGAGE. For valuable consideration, Grantar mortgages and conveys to Lender all of Grantor's right, title, and interest in
<br />and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and
<br />fixtures; all easements, rights of way, and appurtenances; all water, water rights, watercourses and ditch rights (including stock in utilities
<br />with ditch or irrigation rightsl; and all other rights, royalties, and profits relating to the real property, including without limitation all
<br />minerals, oil, gas, geothermal and similar matters, (the " Real Property located in Hall Caunty State of Nebraska:
<br />Lot Nineteen ( 9 91, Meadowlark West �hird Subdivisan, in the City of Grand Island, Hall County, Nebraska.
<br />The Real Property or its address is cammonly known as 1940 Allen Drive, Grand Island, NE 68$03.
<br />CR055-COLLATERALIZATION. In addition to the Note, this Mortgage secures all obligations, debts and liabilities, plus interest thereon, of
<br />Grantor to Lender, or any ona or more of them, as well as all claims by Lender against Grantor or any one or more of them, whether now
<br />existing or hereafter arising, whether related or unrelated to the purpose of the Note, whether voluntary or otherwisa, whether due or not
<br />due, direct or indirect, determined or undetermined, absolute or contingent, liquidated or unliquidated, whether Grantor may be liable
<br />individually or jointly with others, whether obligated as guarantor, surety, accommodation party or otherwise, and whether recovery upon
<br />such amounts may be or hereafter may 6ecome barred by any statute of limitations, and whether the obligation ta repay such amaunts
<br />may be or hereafter may become otherwise unenforceable.
<br />Grantor presently assigns to Lander all of Grantor's right, title, and interest in and to all present and futura leases of the Property and all
<br />Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and
<br />Rents.
<br />FUTURE ADVANCES. In addition to the Note, this Mortgage secures all future advances made by Lender to Grantor whether or not the
<br />advances are made pursuant to a commitment. Specifically, without limitation, this Mortgage secures, in addition to the amounts specified
<br />in the Note, all future amounts Lender in its discretion may loan to Grantor, together with all interest thereon.
<br />THIS MORTGAGE, INCLUpING TH� ASSIGNMENT OF RENTS AND THE SECl1RITY IN7EREST IN THE RENTS AND PERSONAL PROPERTY,
<br />15 GIVEN TO SECURE (A► PAYMENl' �F TW� INDEBTEDNESS AND (B) PERFORMANCE �F ANY AND ALL OBLIGATIONS UN�ER THE
<br />NOTE, THE RELATED DQCUMENTS, AND THIS MORTGAGE. THIS MORTGAGE, INCI.UPING THE ASSIGNMENT OF RENTS AND THE
<br />SECURITY INTEREST IN THE RENTS ANp PER50NAL PROPERTY, IS ALSQ GIVEN 7Q SECURE ANY AND ALL OF GRANTOR'S
<br />OBLIGATIONS UNDER THAT CERTAIN CONS7RUCTION LOAN AGREEMENT BETWEEN GRANTpR AND I.ENDER OF EVEN DATE
<br />HEREWITH. ANY EVENT OF DEFAULT UNDER THE CONSTRUCTION LOAN AGREEMENT, OR ANY QF TH� R�LATED DOCUMENTS
<br />R�FERRED TO THEREIN, SHALL ALSO BE AN EVENT QF pEFAULT UNDER THIS MORTGAGE. THIS MOR7GAGE IS GIVEN AND
<br />ACCEP7ED ON THE FdLI.OWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor shall pay to Lender all amounts secured by this
<br />Mortgage as they become due and shall strictly perform all of Grantor's obligations under this Mortgage.
<br />CONSTRi1CTION MORTGAGE. This Mortgage is a"construction mortgage" for the purppses of Sections 9-334 and 2A-309 of the
<br />Uni�c�m C�m�� Gowe, as thcss ��cticr.s have �eer. adopt�d 5y the Sta#e of �;ebraska.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Grantor shall maintain #he Property in tenanta6le condition and promp#ly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />Compliance With Environmental Laws. Grantor represents and warrants tn Lender that: (1) During the period of Grantor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threataned release of any
<br />Hazardaus Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe
<br />that there has 6een, except as previously disclosed to and acknowledged by Lender in writing, (a) anq breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release ot any
<br />Hazardous Substance on, under, about or from the Proparty by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (h) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental L.aws. Grantor authorizes Lender and its agents to enter upon the Property
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