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<br /> Acct. No. 3304144 � o
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<br /> DEED OF TRUST AND ASSIGNMENT OF RENTS d \
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<br /> Or� ir�al
<br /> NOTICE: THIS DEED OF TRUST SHALL CONSTITUTE A CONSTRUCTION SE�RITY AGREEMENT
<br /> WITHIN THE MEANING OF THE NEBRASKA CONSTRUCTION LIEN ACT IN THE EVENT THE AMOUNTS ADVANCED
<br /> UNDER THE LINE OF CREDIT ARE U5ED TO FINANCE IMPROVEMENTS TO THE PROPERTY DESCRIBED IN THIS
<br /> DEED OF TRUST.
<br /> THIS DEED OF TRUST AND ASSIGNMENT OF RENTS, as the same may be renewed or extended ("Deed of
<br /> Trust"), is dated as of March 19, 1998, and is an agreement AMONG Jimmy L. Rash and Stacie M. Rash, husband and wife as
<br /> the grantors; Robert Reicke, Esq., whose mailing address is Fraser Stryker Law Firm, 500 Electric Building, Omaha, Nebraska
<br /> 68102, as the trustee; and Menill Lynch Credit Corporation, a Delawaze corporation, whose street address is 4802 Deer Lake Drive
<br /> East, Jacksonville, Florida 32246-6484, as the beneficiary.
<br /> Throughout this Deed of Trust, the following words have the following meanings: "we", "us" and "our" refer to the
<br /> person or any or all of the persons who sign this Deed of Trust; "Merrill Lynch" refers to Merrill Lynch Credit Corporation, the
<br /> beneficiary, or anyone to whom this Deed of Trust is assigned; and "Trustee" refers to the trustee identified above, or any substitute
<br /> trustee.
<br /> DESCRIPTION OF SECURITY
<br /> By signing this Deed of Trust, and in consideration of the indebtedness herein recited and the trust herein created, we
<br /> irrevocably grant and convey to Trustee, in trust, with power of sale, the following described property, located in the County of
<br /> Hall, State of Nebraska:
<br /> Legal description attached hereto and made a part hereof.
<br /> This property has the address of 3015 Brentwood Boulevard Grand Island, Nebraska 68801 and, together with the
<br /> interests described below relating to this property, is called the "Property" in this Deed of Trust.
<br /> In addition to granting and conveying to Trustee, in trust, with power of sale, the Property described above, we also
<br /> grant and convey to Trustee, in trust, with power of sale, the following interests relating to that Property: (a)all buildings and other
<br /> structures located on the Property; (b)all rights we may have in any roads and alleys next to the Property or in any minerals, oil and
<br /> gas rights and profits, water, water rights, and water stock which aze a part of the Property; (c) all rents and royalties from the
<br /> Property and any proceeds from the condemnation of, or insurance payments concerning losses to, the Property; and (d) all fixtures
<br /> now on the Property or later placed on the Property, including replacements of, and additions to, those fixtures. Our grant and
<br /> conveyance to Trustee of the rights and interests described above includes all rights and interests which we now have or which we
<br /> may acquire in the future. For example, if the security granted and conveyed to Trustee under this Deed of Trust is a leasehold
<br /> estate, and we subsequently acquire fee title to the Property subject to the leasehold estate, the rights and interests granted and
<br /> conveyed to Trustee by this Deed of Trust will include the fee title to the Property that we acquire.
<br /> OBLIGATIONS BEING SECURED
<br /> We have signed this Deed of Trust to secure (a) the payment to Merrill Lynch of a revolving line of credit debt in the
<br /> amount of U.S. $32,400.00, or so much of that debt as may be outstanding, plus all accrued interest, fees and other charges owed
<br /> under the Menill Lynch Equity Access�Agreement, as the same may be renewed or extended (the "Agreement"), relating to this
<br /> Deed of Trust; (b)the payment of any amounts advanced by Menill Lynch to protect the security of this Deed of Trust,with interest on
<br /> those amounts; (c)the performance by the persons who signed the Agreement of their obligations under the Agreement; and(d) our
<br /> performance of our obligations under this Deed of Trust. This Deed of Trust secures all future advances made under the Agreement
<br /> and advances which have been repaid may be reborrowed, provided that the maximum aggregate amount of advances to be secured at
<br /> any one time by this Deed of Trust shall n�ot ezceed the amount of the revolving line of credit debt set forth above. This provision
<br /> shall not constitute an obligation upon or commitment of Meniil Lynch to make additional advances or loans to us. The lien of this
<br /> Deed of Trust shail cont:nue until a release thereof is recorded pursuant to Nebraska law. In no event shall the lien of this Deed of
<br /> Trust be eliminated because the amount of the debt is reduced to zero. The Agreement and this Deed of Trust, taken together, are
<br /> called the "Credit Documents." The term Agreement shall include all modifications, extensions, and renewals thereof. All sums
<br /> owed under the Agreement become due and payable in full on Mazch 19, 2028. -�r 4..: ,: ,, , ;;
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<br /> NE EQUITY/PRIME
<br /> (09/IS/97)HENEMTG Nebraska Mort¢aee
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