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BORROWERS AND LENDER AGREE AS FOLLOWS: > THIS DEED OF TRUST is made on October 25, 2013 The Trustors are Derek and Carrie Mead, also known as Borrowers. The Trustee is Stacy Nonhof, Grand Island City Attorney The Beneficiary is City of Grand Island, also known as Lender. Beneficiary's address is P.O. Box 1968, Grand Island, NE 68802 -1968 Borrowers irrevocably convey to Trustee, in Trust, with power of sale, the following: c_) CO w O ----i C N —1 --4 rn Q Z N r:::, -T1 t-' in C w r 71 r w -,- y.---- `V ▪ 1 0 (n ..0 - -1 O DEED OF TRUST Zoo Lot Eleven (11), in Anderson Subdivision in the City of Grand Island, Hall County, NE together with all the rents and profits therefrom and subject to easements and restrictions of record, if any. Borrowers owe Lender up to Seventeen thousand, Eight Hundred Dollars and no cents ($17,800) evidenced by Borrowers' Note of even date, payable according to the terms thereof. This Security Instrument secures to Lender the Debt evidenced by said Note, the payment of all other sums, with interest, advanced under the provisions hereafter to protect the security and the performancy of Borrowers' covenants and agreements. Borrowers covenant that Borrowers are lawfully seized of such real estate and have the legal power and . lawful authority to convey the same and warrant and will defend title to the real estate against the lawful claims of all persons. 1. Borrowers shall pay when due, the principal and interest as provided in said Note. 2. All payments received by Lender shall be applied to the principal due. This loan is zero interest and is forgiven at a rate of 10% each year on the anniversary date of signed promissory note as long as all conditions set forth are met. 3. Borrowers shall pay all general real estate taxes and special assessments against the property before the same become delinquent.