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<br />This Deed of Trust is made , 2001 among FILEMON SANCHEZ,
<br />a single person, whose address is P. b. Box 1614, Grand Island, NE 68802, (hereinafter
<br />referred to as "Borrower "), DAVID H. FISHER, Attorney at Law, P. O. Box 1044, Hastings,
<br />Nebraska 68902 (hereinafter referred to as "Trustee ") and JOSEPHINE CHASE and
<br />CHASE'S, INC., as beneficiaries, whether one or more, (hereinafter referred to as
<br />"Lenders "), whose address is 106 N. California, Hastings, NE 68901.
<br />Borrowers, in consideration of the indebtedness herein created, irrevocably grant
<br />and convey to Trustee, in trust, with power of sale, the following described property located
<br />in the County of Hall, State of Nebraska:
<br />The Westerly Five -Seven (57) feet of Lot Seven (7), Block Sixty -Nine (69),
<br />in the Original Town, now City of Grand Island, Hall County, Nebraska;
<br />Together with improvements, fixtures, easements, rights, privileges and
<br />appurtenances located thereon or in any way pertaining thereto, and the rents issues and
<br />profits, reversions and remainders thereof, all of the foregoing being referred to herein as
<br />the "Property ";
<br />To secure to Lenders (a) the repayment of the indebtedness of Gabriel Sanchez,
<br />evidenced by Promissory Note to Josephine Chase and Chase's, Inc. of even date, in the
<br />principal sum of $70,000.00, providing for Twenty -Four (24) equal monthly installments of
<br />principal and interest (hereinafter referred to as the "Note ") (b) the payment of all other
<br />sums, with interest thereon, advanced in accordance herewith to protect the security of this
<br />Deed of Trust; and (c) the performance of the covenants and agreements of Borrower
<br />herein contained.
<br />Borrowers covenant and agree as follows:
<br />1. Borrowers Seized of Property. That Borrowers are lawfully seized of the
<br />estate hereby conveyed and have the right to grant and convey the Property, that the
<br />Property is unencumbered, and that Borrowers will warrant and defend generally the title
<br />to the Property against all claims and demands, subject to any covenants, easements or
<br />restrictions of record.
<br />2. Payment. To secure payment of the principal and interest thereon as
<br />provided in this Deed of Trust and the Note.
<br />3. Taxes and Assessments. To pay on or before they become delinquent all
<br />taxes, special assessments and other charges against the Property.
<br />4. Insurance. Borrower shall maintain fire and extended coverage insurance with
<br />respect to the property with coverage of not less than eighty percent (80 %) of the
<br />replacement value thereof. All policies shall name both Borrowers and Lenders as
<br />insureds, as their interests appear, and shall provide for at least thirty (30) days notice to
<br />Lenders prior to cancellation. If Borrowers fail to pay any premiums as they come due,
<br />Lenders may, at Lenders' option, pay them and add the amount to the principal balance.
<br />5. Repair, Maintenance and Use. To promptly repair, restore or rebuild any
<br />improvements now or hereafter on the Property; to keep the Property in good condition and
<br />repair, without waste, and free from mechanic's or other liens not expressly subordinated
<br />to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to diminish or
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<br />DEED OF TRUST
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<br />This Deed of Trust is made , 2001 among FILEMON SANCHEZ,
<br />a single person, whose address is P. b. Box 1614, Grand Island, NE 68802, (hereinafter
<br />referred to as "Borrower "), DAVID H. FISHER, Attorney at Law, P. O. Box 1044, Hastings,
<br />Nebraska 68902 (hereinafter referred to as "Trustee ") and JOSEPHINE CHASE and
<br />CHASE'S, INC., as beneficiaries, whether one or more, (hereinafter referred to as
<br />"Lenders "), whose address is 106 N. California, Hastings, NE 68901.
<br />Borrowers, in consideration of the indebtedness herein created, irrevocably grant
<br />and convey to Trustee, in trust, with power of sale, the following described property located
<br />in the County of Hall, State of Nebraska:
<br />The Westerly Five -Seven (57) feet of Lot Seven (7), Block Sixty -Nine (69),
<br />in the Original Town, now City of Grand Island, Hall County, Nebraska;
<br />Together with improvements, fixtures, easements, rights, privileges and
<br />appurtenances located thereon or in any way pertaining thereto, and the rents issues and
<br />profits, reversions and remainders thereof, all of the foregoing being referred to herein as
<br />the "Property ";
<br />To secure to Lenders (a) the repayment of the indebtedness of Gabriel Sanchez,
<br />evidenced by Promissory Note to Josephine Chase and Chase's, Inc. of even date, in the
<br />principal sum of $70,000.00, providing for Twenty -Four (24) equal monthly installments of
<br />principal and interest (hereinafter referred to as the "Note ") (b) the payment of all other
<br />sums, with interest thereon, advanced in accordance herewith to protect the security of this
<br />Deed of Trust; and (c) the performance of the covenants and agreements of Borrower
<br />herein contained.
<br />Borrowers covenant and agree as follows:
<br />1. Borrowers Seized of Property. That Borrowers are lawfully seized of the
<br />estate hereby conveyed and have the right to grant and convey the Property, that the
<br />Property is unencumbered, and that Borrowers will warrant and defend generally the title
<br />to the Property against all claims and demands, subject to any covenants, easements or
<br />restrictions of record.
<br />2. Payment. To secure payment of the principal and interest thereon as
<br />provided in this Deed of Trust and the Note.
<br />3. Taxes and Assessments. To pay on or before they become delinquent all
<br />taxes, special assessments and other charges against the Property.
<br />4. Insurance. Borrower shall maintain fire and extended coverage insurance with
<br />respect to the property with coverage of not less than eighty percent (80 %) of the
<br />replacement value thereof. All policies shall name both Borrowers and Lenders as
<br />insureds, as their interests appear, and shall provide for at least thirty (30) days notice to
<br />Lenders prior to cancellation. If Borrowers fail to pay any premiums as they come due,
<br />Lenders may, at Lenders' option, pay them and add the amount to the principal balance.
<br />5. Repair, Maintenance and Use. To promptly repair, restore or rebuild any
<br />improvements now or hereafter on the Property; to keep the Property in good condition and
<br />repair, without waste, and free from mechanic's or other liens not expressly subordinated
<br />to the lien hereof; not to make, suffer or permit any nuisance to exist, nor to diminish or
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