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<br />DEED OF TRUST
<br />KNOW ALL MEN BY THESE PRESENTS: that KARL T. MACKINNON & RFTTY T
<br />MACKINNON, HUSBAND AND WIFE hereinafter referred to as the "Trustor ", to
<br />secure a Note bearing even date herewith for the principal amount of _FOUR THOUSAND
<br />ONE HUNDRED FIFTEEN AN 0/1 M - - -_ Dollars ($4,115.30 ) payable
<br />to the order of GRAND ISLAND INVESTMENT COMPANY, hereinafter referred to as the
<br />"Beneficiary ", providing for pa ent of the entire principal balance, together
<br />with interest at the rate of SIXTEEN -- - - - - --
<br />percent ( lh_DO �) per annum,
<br />in monthly installments of ONE HUNDRED FORTY SIX AND 08/100--------- - - --
<br />Dollars ($ 146.08 ) each until OCTOBER 10, 2003_, 13C , at
<br />which time all principal and interest provided for by this Note shall have been paid,
<br />do hereby grant and convey until AREND R. BAACK, Attorney at Law, the "Trustee ",
<br />the following- described property:
<br />Lot Thirteen (13), Block One (1), Westerhoff's Second Subdivision,
<br />Hall County, Nebraska.
<br />TO HAVE AND TO HOLD the same, together with all appurtenances, in trust
<br />nevertheless, and in case of default in the payment of said Note or any part
<br />thereof or interest thereon or in the performance of any covenant hereinafter
<br />set forth, then the Trustee shall have the power to sell the above - described
<br />property, and upon request of the Beneficiary, the Trustee shall file for record
<br />in the Register of Deeds' Office of Hall County, Nebraska, a Notice of
<br />Default, setting forth that a breach of an obligation, for which the said property
<br />was conveyed as security, has occurred, and setting forth the nature of such
<br />breach and the Trustee's election to sell the property to satisfy the obligation;
<br />and after the lapse of not less than one (1) month, the Trustee shall give
<br />written notice of the time and place of sale which may be between.9:00 a.m. and
<br />5:00 p.m. at the premises, or at the Hall County Courthouse, and particularly
<br />describing the property to be sold; said Notice to be published in a newspaper of
<br />a general circulation in Hall County, Nebraska, once a week for five (5)
<br />consecutive weeks, the last publication to be at least ten (10) days but not
<br />more than thirty (30) days prior to the sale; and the Trustee shall then sell said
<br />property at the time and place designated in the Notice, in the manner provided
<br />by law in effect at the time of filing said Notice, and public auction to the
<br />highest bidder for cash and shall deliver to such purchases a deed to the property
<br />sold, consistent with the law in effect at that time. Additionally, Trustee shall
<br />mail Trustor a copy of any Notice of Default and Notice of sale hereunder
<br />upon default addressed -to -them at 3104 West 17, Grand Isiand,NE 688030ut of the
<br />proceeds of said sale, the Trustee shall retain and pay first all fees, charges
<br />and costs of sale and all monies advanced in the exercise of the power of sale,
<br />including the payment of the Trustee's fees actually incurred, and pay second
<br />the obligations secured by this Deed of Trust; and the balance, if any, shall be
<br />paid to the person or persons legally entitled thereto. Any person, including the
<br />Beneficiary, may purchase said property at such sale.
<br />The trustor covenants that at the time of delivery of these presents,
<br />they are seized of said property in fee-simple, and that said property is free
<br />of encumbrances, except encumbrances, easements, rights -of -way, restrictions and
<br />reservations of record, and they will properly maintain the property, keep all
<br />buildings insured for fire and extended coverage in an amount equal to the
<br />unpaid balance of the aforesaid Note, with loss payable to the Beneficiary, and
<br />will pay all taxes and assessments against said property and amounts due on prior
<br />encumbrances, and if they shall fail to pay insurance premiums or taxes on
<br />amounts due on prior encumbrances, the Beneficiary may pay the same and all
<br />amounts so paid shall become additional indebtedness due hereunder; and in case
<br />of foreclosure, Trustor will. Dav anv reasonahl P fee. t__
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