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202000935
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made the 30 day of 1�<„v-(-6/-Y, 2020. The Trustee is Rodney J.
<br />Palmer, 353 N. Main, P.O. Box 127, Ainsworth, NE 69210. The Trustor is David Gibson, a single man. The Beneficiary
<br />is James Ferguson and Mae L. Ferguson, 43850 St. Hwy. 12, Springview, NE 68778. Trustors irrevocably conveys to
<br />Trustee, in Trust, with power of sale, the following:
<br />The North 66 feet of Lot 2 and the North 66 feet of Lot 1, Block 1, Schimmer's Addition
<br />to the City of Grand Island, Hall County, Nebraska,
<br />also known as 1218 N. Wheeler Avenue, Grand Island, Nebraska.
<br />Trustor owes Beneficiary FORTY THOUSAND DOLLARS ($40,000.00) evidenced by Trustor's note payable according
<br />to the terms thereof. This Security Instrument secures to Beneficiary the debt evidenced by said note and any renewals or
<br />extensions thereof, the payment of all other sums, advanced under the provisions hereafter to protect the security, any
<br />other advancements or loans made by Beneficiary to Trustor and the performance of Trustor's covenants and agreements.
<br />Trustor covenants that Trustor is lawfully seized of such real estate and has the legal power and lawful authority to convey
<br />the same and warrants and will defend title to the real estate against the lawful claims of all persons.
<br />TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS:
<br />1. Trustor shall pay, when due, the principal as provided in said note.
<br />2. All payments received by Beneficiary shall be first applied to advances which may have been made by Beneficiary
<br />and then to interest due and last to principal due.
<br />3. Trustor shall pay general real estate taxes and special assessments against the property before the same become
<br />delinquent.
<br />4. If Beneficiary determines that any part of the property is subject to a lien, which is or may attain priority over this
<br />security instrument, Beneficiary may give Trustor a notice identifying the lien and Trustor shall satisfy the lien within
<br />ten (10) days.
<br />Trustor shall keep improvements on said premises insured against loss by fire and hazards included within the term
<br />"extended coverage" for their insurable value and policies for the same shall include a standard mortgage clause
<br />showing Beneficiary herein as an additional loss payee. In the event of loss, Beneficiary may make proof of loss if
<br />not promptly made by Trustor. Insurance proceeds shall be applied to restoration or repair of the property damaged,
<br />unless both parties otherwise agree, except if restoration or repair is not economically feasible or Beneficiary's
<br />security is not lessened, otherwise said proceeds shall be paid on the debt herein, whether or not then due.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any payments or proceeds from insurance shall not extend
<br />or postpone the due date of the payments provided in said note, or change the amount of the payments.
<br />6. If Trustor fails to perform the covenants and agreements herein contained, Beneficiary may do and pay for whatever
<br />is necessary to protect the value of the property and Beneficiary's rights in the property, including the paying of any
<br />sum secured by a lien which has priority over this security instrument, appearing in Court, paying reasonable attorney
<br />fees and entering the property to make repairs. Any amount disbursed by Beneficiary under this paragraph shall
<br />become an additional debt of Trustor secured by this security instrument, to bear interest from the date of
<br />disbursement and said amount, together with the then unpaid principal amount, shall bear interest at the rate of 14%
<br />per annum until refunded by Trustor.
<br />7. The proceeds of any condemnation award are hereby assigned and shall be paid to Beneficiary and shall be applied to
<br />the sums secured by this security instrument, whether or not then due, with any excess paid to Trustor.
<br />8. If any part of the real estate or any interest in it is sold or transferred without Beneficiary's prior written consent,
<br />Beneficiary may, at its option, require immediate payment in full of all sums secured by this Deed of Trust. If
<br />Beneficiary exercises this option, Beneficiary shall give Trustor notice of acceleration. The notice shall provide a
<br />period of not less than thirty (30) days from the date the notice is delivered or mailed within which Trustor must pay all
<br />sums secured by this Deed of Trust. if Trustor fails to pay the sums prior to the expiration of this period, Beneficiary
<br />may invoke any remedies permitted by this Deed of Trust without further notice or demand on Trustor.
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