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DEED OF TRUST 98— �(��1��
<br /> THIS DEED OF TRU5T, is made as of May 1, 1998, by and among
<br /> Third City Christian Church, a Nebraska non-profit Corporation,
<br /> ( "Trustor" } , whose mailing address is 2808 C?'Flannagan Street,
<br /> Grand Island, NE b8803, and Norwest Bank Nebraska, N.A.
<br /> ( "Trustee" ) , whose mailing address is 202 West Third Street, Grand
<br /> Island, NE 68801, and Zoia Rae Allen, ( "Benefic3ary" } , whose
<br /> mailing address is 202 West Third Street, Grand Island, NE 68801.
<br /> FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers,
<br /> conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for
<br /> the benefit and security of Heneficiary, under and subject to the
<br /> terms and conditions of this Deed of Trust, the real praperty,
<br /> located in the City of Grand Island, County of Hall, State of
<br /> Nebraska, and described as follows :
<br /> An undivided one-half interest in and to the
<br /> tract of real estate described in Exhibit A,
<br /> attached and incorporated by reference.
<br /> TOGETHER WITH, all rents, easements, appurtenances,
<br /> hereditaments, interests in adjoining roads, streets and alleys ,
<br /> improvements and buildings of any kind situated thereon and all
<br /> personal property that may be or hereafter become an integral part
<br /> of such buildings and improvements , all crops raised thereon, and
<br /> all water rights.
<br /> The Propexty and the entire estate and interest conveyed to
<br /> the Trustee are referred to collectively as the "Trust Estate" .
<br /> THIS DEED OF TRUST I5 FOR THE PURPOSE OF SECURING:
<br /> A. Payment of indebtedness in the total principal amount of
<br /> Sixty-One Thousand Eight Hundred Nine and no/100 Dollars
<br /> ($61,809.00� , with interest thereon, as evidenced by that certain
<br /> promissory note of even date (the "Note" ) with a maturity date of
<br /> May 1, 20Q3 executed by Trustor, which has been delivered and is
<br /> payable to the order of Beneficiary, and which by this reference is
<br /> hereby made a part hereof, and any and all modifications,
<br /> extensions and renewals thereof, and
<br /> B. Payment of all sums advanced by Beneficiary to protect the
<br /> Trust Estate, with interest thereon a� the rate of Eight percent
<br /> (8�) per annum.
<br /> This Deed of Trust, the Note, and any other instrument given
<br /> to evidence or further secure the payment and performance of any
<br /> obligation secured hereby are referred to collectively as the "Loan
<br /> Instruments" .
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