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DEED OF TRUST 86- 146233
<br />THIS DEED OF TRUST, made this 23rd day of October 19 86 between
<br />�... r Doris K. Dowd r an unremarried widow as Trustor,
<br />Firs7ier Bank, National Association, Omaha, Nebraska as Trustee,
<br />FirsTser Bank, National Association, Omaha, Nebraska as Beneficiary:
<br />WITNESSETH:
<br />That Trustor irrevocably grants, transfers and assigns to Trustee in trust, with power of sale, the following described
<br />property :A tract of land comprising a part of Lot Fourteen (14), Vantine Subdivision, and part
<br />of the Southwest Quarter of the Southwest Quarter of the Northwest Quarter(NA) of Section
<br />Twenty Two(22), Township Eleven(ll) North, Range Nine(9) West of the 6th P.M., in the City of
<br />Grand Island, Hall County, Nebraska, more particularly described as follows: Beginning at a
<br />point on the Easterly line of Locust Street, said point being 5.0' East of the Northwest
<br />corner of said Lot 14, thence Easterly along the North line of said Lot 14, a distance of 292.0'
<br />to the West line of Pine Street; thence Southerly along the West line of said Pine Street, a
<br />distance of 231.0' to the North line of Fonner Park Road; thence Westerly along the North line
<br />of said Fonner Park Road, a distance of 265.151; thence deflecting Right 49 degrees 18' 48"
<br />and running Northwesterly along the East line of said Locust Street, a distance of 40.451; thence
<br />fleeting lti ht 40 e e 36' 48" and �i Northe st rl along the East lie f s d cust
<br />��}} to a nt �st of tie u hw st orner of ai �ot the ce
<br />W snei�yaalongantie gout Tne of saio Lot -14, a distance o .0�; Bence Norther y along the
<br />line of said Locust Street, a distance of 132.0' to the place of beginning.
<br />together with all interest which Trustor now has or may hereafter acquire in and to said property and in and to: (a) all
<br />easements and rights of way appurtenant thereto; (b) all tenements, hereditaments, buildings, structures, improvements,
<br />fixtures, equipment, furnishings and appurtenances now or hereafter placed thereon; (c) all leasehold estate, right title,
<br />and interest of Trustor in and to all leases or subleases thereof or any portion thereof now or hereafter existing or entered
<br />into, and all right, title, and interestof Trustor thereunder, including, without limitation, all cash or security deposits, advance
<br />rentals, and deposits or payments of similar nature, and (d) all mineral, oil, gas rights and profits, water, water rights, and
<br />water stock. Trustor agrees to execute and deliver, from time to !!me, such further instruments as may be requested by
<br />Beneficiary in form and substance satisfactory to Beneficiary to confirm the lien of this Deed of Trust on any of the
<br />aforementioned property. The property so conveyed to Trustee hereunder is hereinafter referred to as "such property ".
<br />The Trustor absolutely and irrevocably grants, transfers and assigns to Beneficiary the rents, income, issues, and profits
<br />of all property covered by this Deed of Trust.
<br />FOR THE PURPOSE OF SECURING:
<br />1. Payment of the principal sum of Two hundred thousand and no /100---------- - - - - --
<br />----------- ($200,000.00) Dollars
<br />evidenced by the certain promissory note dated of even date herewith (hereinafter referred to as the "Promissory Note ")
<br />executed by Dreisbach's Steakhouse, Inc.
<br />in said amount and payable to the order of Beneficiary maturing on April 1. 1987
<br />together with interest thereon, late charges, and prepayment bonuses according to the terms of the Promissory Note
<br />and all renewals, extensions, and modifications thereof.
<br />2. Performance, discharge of and compliance with every obligation, covenant and agreement of Trustor incorporated by
<br />reference or contained herein or in any other security agreement or deed of trust at any time given to secure any
<br />indebtedness hereby secured, or any part thereof.
<br />3. Payment of all fees and charges of Beneficiary or Trustee, whether or not set forth herein.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS:
<br />TITLE: That it is lawfully seized and possessed of a good and indefeasible title and estate to all of such property in fee
<br />simple free from any prior lien or encumbrance, has good right and lawful authority to convey the same, and will forever
<br />warrant and defend the title thereto against the claims and demands of all persons whosoever, that it will, at its expense,
<br />maintain and preserve the lien of this Deed of Trust as a first and paramount lien upon such property.
<br />MAINTENANCE: To keep such property in good condition and repair, to complete or restore promptly and in good and
<br />workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay, when due, all
<br />claims for labor performed and materials furnished therefore and for any alterations thereof; to comply with the provisions
<br />of all insurance policies covering sold premises, to comply with all laws, ordinances, regulations, covenants, conditions
<br />and restrictions affecting such property; not to remove, demolish or materially alter any building, or the character or use
<br />thereof at any time thereon; sotto drill or extract nor to permit the drilling for or extraction of oil, gas or other hydrocarbon
<br />substances, water or any mineral of any kind union the written consontof Beneficiary is had and obtained; notto commit or
<br />permftany was%th niiof or anyact upon such property In violation of law; to do all other acts in a timely and proper manner a
<br />which from the character or use of such property may be reasonably necessary to protect and preserve said security, the
<br />specific enumerations herein not excluding the general.
<br />L CONSTRUCTION OF IMPROVEMENTS: To complete in good and workmanlike manner any building or improvement or
<br />repair rolating thereto which may bo begun on such property or contemplated by the loan secured hereby, to pay when due
<br />all costs and liabilities incurred therefore, and not to permit any mechanic's lien against such property. Trustor also agrees,
<br />anything In this Deed of Trust to the contrary notwithstanding; (a) to promptly commence work and to complete the
<br />proposed improvements promptly, (b) to complete same in accordance with plans and specifications as approved by
<br />Beneficiary, (c )to comply with all of" terms of any building loan agreement between Trustor and Beneficiary, the terms of
<br />which are incorporated herein by reference to the same extent as it fully set forth herein and made a part of this Deed of
<br />Trust, (d) to allow Beneficiary to inspect such property at all times during construction, and (e) to replace any work or
<br />materials unsatisfactory to Beneficiary, within fifteen (15) days after written notice from Beneficiary of such fact, which
<br />notice may be given to Trustor by registered or certified mail, sent to his last known address, or by personal service of the
<br />same,
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