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DEED OF TRUST
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<br />DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the 8th day of February 2001, by and among ADAM ONNEN,
<br />Trustor, whose mailing address is 318 Brookline Dr., Grand Island, NE 68801 and SAM GRIMMINGER, Trustee,
<br />whose mailing address is P.O. Box 574, Grand Island, NE 68802 and PHILIP KRAFT, JR., whose mailing address is
<br />239 N. Custer Ave., Grand Island, NE 68803.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the real property located in the City of Grand Island, Nebraska, County of Hall,
<br />State of Nebraska, and legally described as follows (the "Property "): see Exhibit A.
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets
<br />and alleys, improvements and buildings of any kind situated thereon and all personal property that may be or
<br />hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $40,000.00, with interest thereon, as evidenced
<br />by that certain promissory note of even date (the "Note ") with a maturity date of December 31, 2021, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby
<br />made a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the
<br />rate of nine percent (9 %) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on,
<br />the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind,
<br />now or hereafter levied against the trust estate or any part thereof as follows: (initial one)
<br />_>< Trustor shall directly pay such taxes, without notice or demand as each installment comes due and
<br />shall provide the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one - twelfth of the real estate taxes each month and such other
<br />assessments as they become due. The one - twelfth payment shall be adjusted annually as the taxes
<br />change and trustor agrees that after payment of the taxes each year that any deficiency will be
<br />promptly paid to Beneficiary. Beneficiary agrees to provide trustor with receipts showing that the
<br />real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring
<br />the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall
<br />contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable
<br />without ten (10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the
<br />Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate.
<br />In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or
<br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay
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<br />THIS DEED OF TRUST, is made as of the 8th day of February 2001, by and among ADAM ONNEN,
<br />Trustor, whose mailing address is 318 Brookline Dr., Grand Island, NE 68801 and SAM GRIMMINGER, Trustee,
<br />whose mailing address is P.O. Box 574, Grand Island, NE 68802 and PHILIP KRAFT, JR., whose mailing address is
<br />239 N. Custer Ave., Grand Island, NE 68803.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the real property located in the City of Grand Island, Nebraska, County of Hall,
<br />State of Nebraska, and legally described as follows (the "Property "): see Exhibit A.
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets
<br />and alleys, improvements and buildings of any kind situated thereon and all personal property that may be or
<br />hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the
<br />"Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $40,000.00, with interest thereon, as evidenced
<br />by that certain promissory note of even date (the "Note ") with a maturity date of December 31, 2021, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby
<br />made a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the
<br />rate of nine percent (9 %) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on,
<br />the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind,
<br />now or hereafter levied against the trust estate or any part thereof as follows: (initial one)
<br />_>< Trustor shall directly pay such taxes, without notice or demand as each installment comes due and
<br />shall provide the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one - twelfth of the real estate taxes each month and such other
<br />assessments as they become due. The one - twelfth payment shall be adjusted annually as the taxes
<br />change and trustor agrees that after payment of the taxes each year that any deficiency will be
<br />promptly paid to Beneficiary. Beneficiary agrees to provide trustor with receipts showing that the
<br />real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance insuring
<br />the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the
<br />unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall
<br />contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable
<br />without ten (10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the
<br />Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate.
<br />In no event shall the Trustor commit waste on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or
<br />proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay
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