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<br />DEED OF TRUST
<br />This DEED OF TRUST is made on March 27, 2001.
<br />The TRUSTOR is
<br />The Orchard, LLC
<br />ADDRESS:
<br />Suite 303
<br />1101 Cornhusker Hwy
<br />Lincoln, NE 68521
<br />The TRUSTEE is
<br />Cornhusker Bank
<br />ADDRESS:
<br />1101 Cornhusker Hwy
<br />Lincoln, NE 68521
<br />The BENEFICIARY
<br />is Cornhusker Bank
<br />ADDRESS:
<br />1101 Cornhusker Hwy
<br />Lincoln, NE 68521
<br />Borrower irrevocably conveys to Trustee, in Trust, with power of sale,
<br />the following:
<br />Lot 1, Lincoln Heights Subdivision to Grand Island, Hall County, Nebraska; and,
<br />A tract of land comprising a part of the easterly 35.0 feet of Lot 8, Norwood Subdivision in the City of Grand Island,
<br />Nebraska, and a part of the East half of the Northwest 1/4, all being in Section 10, Township 11 North, Range 9 West of the
<br />6th P.M., Hall County, Nebraska, and more particularly described as follows: Beginning at the northwest corner of Lincoln
<br />Heights Subdivision, said point also being 35.0 feet west of the east line of said Lot 8, Norwood Subdivision; thence
<br />northerly, parallel with the east line of said Lot 8, a distance of 489.51 feet to a point on the north line of said Lot 8; thence
<br />easterly, along and upon the north line of said Lot 8, a distance of 35.0 feet to the northeast corner of said Lot 8 and also
<br />being on the west line of said East half of the Northwest 1/4; thence northerly, along and upon the west line of said East
<br />half of the Northwest 1/4 a distance of 777.42 feet to a point which is 581.5 feet south of the northwest corner of said East
<br />half of the Northwest 1/4, thence easterly, parallel with the north line of said East half of the Northwest 1/4, a distance of
<br />404.03 feet to a point on the westerly right of way line of the Union Pacific Railroad Company, thence southeasterly, along
<br />and upon said westerly railroad right of way line, a distance of 1268.87 feet to the northeast corner of said Lincoln Heights
<br />Subdivision; thence westerly along and upon the north line of said Lincoln Heights Subdivision, a distance of 506.89 feet
<br />to the point of beginning.
<br />together with all buildings and improvements thereon, and all the rents
<br />and profits therefrom and subject to easements and restrictions of
<br />record, if any.
<br />Trustor owes Beneficiary One Hundred Fifty Thousand Dollars ($150,000) evidenced by Trustor's
<br />note dated of even date, payable according to the terms thereof.
<br />This Security Instrument secures to Beneficiary the Debt evidenced by said note, the payment
<br />of future advances up to $450,000, the payment of all other sums with interest advanced under the
<br />provisions hereafter to protect the security and the performance of Trustor's covenants and
<br />agreements.
<br />Trustor covenants that Trustor is lawfully seized of such real estate and has the legal power
<br />and lawful authority to convey the same and warrants and will defend title to the real estate against
<br />the lawful claims of all persons.
<br />TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS:
<br />1. Trustor shall pay, when due, the principal and interest as provided in said note and such other
<br />sums, when due, that come due under this Agreement.
<br />2. All payments received by Beneficiary shall be first applied to advances which may have been
<br />made by Beneficiary and then to interest due and last to principal due.
<br />3. Trustor shall pay all general real estate taxes and special assessments against the property
<br />before the same become delinquent.
<br />4. If Beneficiary determines that any part of the property is subject to a lien, which is or may
<br />attain priority over this security instrument. Beneficiary may give Trustor a notice identifying the
<br />lien and Trustor shall satisfy the lien within ten (10) days.
<br />5. Trustor shall keep the improvements on said premises insured against loss by fire and hazards
<br />included within the term "extended coverage" for their insurable value and policies for the same shall
<br />include a standard mortgage clause showing Beneficiary herein. In event of loss, Beneficiary may make
<br />proof of loss if not promptly made by Trustor. Insurance proceeds shall be applied to restoration
<br />or repair of the property damaged, unless both parties otherwise agree, except if restoration or
<br />repair is not economically feasible or Beneficiary's security is not lessened, otherwise said proceeds
<br />shall be paid on the debt herein.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any payments or proceeds from
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said note or
<br />change the amount of the payments.
<br />The note secured by this Deed of Trust shall, at the option of Beneficiary, be immediately due
<br />and payable upon the sale or lease of the premises or any part thereof. And the sale or lease of the
<br />premises without the written consent of Beneficiary shall be a default hereunder.
<br />6. If Trustor fails to perform the covenants and agreements herein contained. Beneficiary may do
<br />and pay for whatever is necessary to protect the value of the property and Beneficiary's rights in
<br />the property, including the paying of any sum secured by a lien which has priority over this security
<br />
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