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<br />►EED OF TAUST, is made as of 8 th day of August
<br />Tim C. Plate, a sint� e nerson
<br />("Trustee"), whose mailing address
<br />and_Plate Ente�tnrises LLC ("Beneficiary")
<br />whose mailing address is 2209 E. Stolle� Park Rd. , Gran. Island, R$.
<br />FOR VALUABLE CONSIDERATION, Truator irrevocahly transfsrs, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWEft OF SALE, for the benefit and security of Beneficia�y, under and subject to the terms and conditions of this Deed of Z4�ust,
<br />the real property located in the City of Grand Islan County of
<br />- AA � 1 , State of Nebraska, and legally described as foAows (the "Progerty"): s
<br />Lot Two (2), Saddle Club Subdivision, Wash3ngton Township, City of Gran.d Island,
<br />Ha11 Cou_n��.t�y Nebraska
<br />TOGETHEl� WITH, all rents, easements, appurtenances, hereditaments, interests in ac�joining roads, streeta and alleys,
<br />improvements and bnildings of any kind aituated thereon and all personal property that may be or hezeafter become an integral
<br />part of such buildings and impravementa, all crops raised thereon, and all water rights.
<br />The Property and the entire eatate and interest conveyed to the 14 ustee are referred to collectively as the "Trust Estate".
<br />FOft THE PURP05E OF SECURING:
<br />a. Payment of indebtness in the total principal amount of $ 100, 000. 00 �yith interest thereon, as evidenced by that
<br />certain promissory note of even date (the"Note") with a maturity date of ugust tS, 2026
<br />executed by Trustor, which has been delivered an.d is payable to tb.e order of Beneficiary, and which by this reference is hereby
<br />made a part hereo� and any and all modifications, extensions and zenewals thereo� and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />Five percent ( 5 %) per annum, and
<br />c. The performance of Trustor's covenants and agreemants.
<br />This Deed of Trust, the Note, and any other inatrument given to evidence or further secure the payment and
<br />performance of any obiigation secured hereby are referred to collectively as the"Loan Instnunents".
<br />TO PROTECT THE SECURITY OF THI5 DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor ahall pay when due t�ie principal o� and the interest on, the indebtedness
<br />evidenced by the Note, charges, feea and all other sums as provided in the Loan Instnimente.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and apecial assesaments of every kind, now or hereafter levied
<br />against the trust estate or any part thereof as foliows:
<br />(initial one)
<br />� Trustor shall directlq pay such taxea, without notice or demand as each installment comes due and ahall
<br />provide the beneficiary with evidence of the payment of the same.
<br />Trustar shall pay to beneficiary one-twelfth of the real estate taxes each month and auch other assessments
<br />as they become due. The one-tweltth payment shall be adjusted annually as the taxes change and trustor agreea that
<br />after payment af the tages each year that any deficiency will be promptly paid ta Beneficiary. Beneficiary agrees
<br />to provide truetor with receipts showing that the real eatate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring the improvements
<br />and buildings constituting part of the Trust Estate for an amount no lesa than the amount of the unpaid principal balance af the
<br />Note (cainaurance not esceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of
<br />Beneficiary and shall not be cancellable, terminable or modifiable without ten (10) days prior written notice to Beneficiary.
<br />14�ustor shall promptly repair, maintain and replace the 14�uat Eatate or any part thereof so that, except for ordinary wear and
<br />tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS .AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or pzoceeding purporting to
<br />affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall paq all costs and expenses, including cost of
<br />evidence of title and attorney's fees, in any auch action or proceeding in which Beneficiary or Trustee may appeax: Should Trustor
<br />fail to make any payment or to do any act as and in the manner provided in any o£ the Loan Instruments, Beneficiary and/or
<br />Trustee, each in its own diacretion, without obligation so to do and without notice to or demand upon Trustor and without
<br />releasing Trustor from any obligation, may make or do the same in snch maaner and to sucb. extent as either may deem
<br />necessary to protect the security hereo£ Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and
<br />expenses incurred by Beneficiary in conneetion with tlne e$erciae by Beneficiary of the foregoing rights, including without
<br />limitation costs of evidence of title, court coats, appraisals, surveys and attorney's fees. Any such costs and egpenaes not paid
<br />within ten (10) days of written demand ahall draw interest at the default rate provided in the Note.
<br />5. EMINENT DOMAIN. Should the'lYust Estate, or any part thereof or interest therein, be taken or damaged by reason of
<br />any public improvement or condemnation pro�eeding, or in any other manner including deed in lieu of Condemnation
<br />("Condemnation"), or ahould Truator receive any notice or other infnrmation regarding such proceeding, Trustor shall give prompt
<br />written notice thereof to Beneficiary. Beneficiary shall be entitled to all compensation, awards and other payments or relief
<br />therefor, and shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings.
<br />Beneficiary shall also be entitled to make any compromise or settlement in connecfi,ion with such taking or damage. All such
<br />compensation, awards, damages, rights of action and proceeds awarded to �ustor (the "Proceeds") are hereby asaigned to
<br />Beneficiary and Trustor agreea to execute auch further sesignments of the Proceeds as Beneficiary or Trustee may require.
<br />6. F'UTURE ADVANCES. Upon requeat of Truator, Beneficiary, at Beneficiary's option, prior to reconveyance of the Property
<br />to Trustor may make future advancea to Trustar. Such future advances, with interest thereon, ahall be secured by this Deed of
<br />Trust when evidenced by promissory notes stating that said notes are securad herebq.
<br />7. APPUINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time to time, by a written instrument executed and
<br />acknowledged by Beneficiary, mailed to Trustor and Rscorded in the County in which the Trust Estate is located and by
<br />otherwise comply'sng with the provisior^ of the applicable law of the State of Nebraska substitute a successor or succeasors to
<br />the Trustee nanned herein or acting hei ider.
<br />8. SUCCESSORS AND ASSIGNS. This Deed of Trust appliea to, inurea to the benefit of and binds all partiea hereto, their
<br />heirs, legatees, divorcee, personal representatives, successors and assigns. The term "Beneficiary" shall mean the owner and
<br />holder af the Note, whether or not named as Beneficiary herein.
<br />9. INSPECTION. Beneficiary or its agent may make reasonable entries upon and inspections of the Property. Beneficiary
<br />shall give Trustor notice at the time of or prior to an inapection specifying reasonable cause for the inspection.
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