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<br />3r�, SD
<br />(Srace Above This Line Fot Recording Data)
<br />COMMERCIAL REAL ESTATE DEE,ll OF TRUST
<br />FUTURE AllVANCES AN.0 FUTURE OBLIGATI�NS ARE SECUREU BX TIiIS REAL ESTATE DEED
<br />OF 7'RUST
<br />This COMMERCIAL REAL ESTA'I'�: UEED OF TRIJST ("5ecurity Instrument") is made on llecember 22, 2U10
<br />by the grantor(s) GRAND ISLAND CHR�STIAN SCH�DLS, INC., A NFI3ItASKA NON-PROFIT
<br />CORPORATION ALS� KNQWN AS GRANI) ISLAND CHRiS'1'IAN SCIIOOLS, a Nebraska Corporation,
<br />whose address is 1$Ua W. St�te St., Graaid Island, Nebraska 68803 ("C7rantor"). The trustee is Arend lt.
<br />I3aack, Attorney whose address is Y.O. Box 790, Grand Island, Nebraska 68802 ("Trustee"). "1'he beneti�iary is
<br />IIome Federal Savings & I.,oan Assuci�tion of Grand Islaa�d whose addres:; iG 22l South Locust Street,
<br />Grand Island, Nebraska 688U1 ("Lender"), which is organi?ed and exiscing under the laws of the United StaCes of'
<br />America. Grantor in consideration of loans extended by Lender up to a znaximum principal azuount oi` Three
<br />Hundred Fifty Thousand and 00/100 Dollars ($350,0OO.OU) ("Maximum Principal Indebtedness"), and for c�ther
<br />valuable consideracian, the receipt of which is acknowledged, irrevocably grants, conveys rnd assigns to Trustee,
<br />in trust, with power of sale, the following described property located in the County of Hall, 5tate of Nebraska:
<br />Address: 1804 W. State Street, Grand lsland, Nebraska 688U3
<br />Legal Uescraption: Lots One (1), Three (3). Five (5), Seven (7), Eight (8), Ni�ie (9), Ten (10), Eleven (11),
<br />Twelve (12), Thtrteen (13) and Fourteen (14), Block Twenty Nine (29), Gilhert's Third Addition to the City
<br />of Grand Island, II�II County, Nebraska EXCEPTING a certflin tract more particularly described in
<br />Warranty Deed recorded i�� Book 152, P�ge �46_5 and EXCEP'CING a certain tr�ck more particularly
<br />described in Quitclaim lleed recorded as Document No $1-001071
<br />'T'ogether wilh all easemet�ts, appurtenances abutting streets and alleys, improvements, buildings, Cxtures,
<br />tenements, hereditaments, equipment, rents, income, prc�fits �r�d royalties, personal �oods of whatever description
<br />and all otlier righls and privile�es including all minerals, oil, gas, water (whether gx�oundwater, subterrax�ean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant ta t1�e above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock t}aat may now, or at any tirne in tt�e future, bc located on andJor u�ed in
<br />connection with the above-described real ptoperty, payment awards, amounts received from �;minent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, �ituated, or
<br />aftixed on and used in connection therewith (l�ereinafter called the "Property").
<br />This is a PU.RCHASE MONEY DEED OF TRUS'1'.
<br />RELA'1'ED DOCUMFNTS. The words "Related Documents" mean all proinissory notes, security a�reements,
<br />prior mortgages, prior deeels of tnist, busix�ess loan agreements, constructioza loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assign�nents of leases and rents and any other
<br />doeuments or agreements executed in connection witli this Security Instrument whetlier now or hereafter exisling.
<br />'I'he Related Documents are hereby made a part of this Security Instz by reference therelo, witli the same
<br />force and effect as if fully seC forth herein.
<br />INDEB'I'EbNESS. This Security Instrument secures the principal aznount 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 kiz�d now or hereafter owing irom Grantar and GRANll ISI.,ANI) CHRIST.IAN
<br />SCHOOLS �o Lender, howsoever created or arising, whether primary, secondary or contingent, tagether with any
<br />interest or charges provided in or arising out of such indebtedness, as well as the agreements and covenants of this
<br />Security lnstrument and all Related Documenls (hereinafter all referred to as the "Indebtedness").
<br />FUTURE ADVANCES. To th� extent permitted by law, this Security Instnunent will secure future advances as if
<br />such advances werc made on the date of this Security lnstrument regardless of the fact that from time to time tliere
<br />may be no balance due under t�ie note and regardless of whether I�ender is obligated t�� make suct� fuh�xe adv�nces.
<br />CROSS COLLATERALIZATION. It is tlie expressed intent of Crantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and a�rees with Lender, its successors and assigns, as follows:
<br />C� 20042010�Compliance Systems, Inc. F947-2D36 -:UIU.OS.i65 � � � � • � .
<br />Commercinl Rexl Fstnte Seeurity Instr�nnem - n�A�)07 Page � of 5 www.complianccsystcros.com
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