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DEED OF TRUST
<br />THIS DEED OF TRUST is made as of this L3 day of October 2021, by and among
<br />NICHOLAS A. PAPKE and ASHELY M. PAPKE, husband and wife, ('TRUSTOR") whether
<br />one or more, whose mailing address is 727 S. Blaine, Grand Island, Nebraska 68803;
<br />and DUANE A. BURNS, a member of the Nebraska State Bar Association ("TRUSTEE"),
<br />whose mailing address is 308 N. Locust Street, STE 306, Grand Island, Nebraska 68801;
<br />and RICHARD W. WEBSTER and MARILYN D. WEBSTER, husband and wife, as joint
<br />tenants, ("BENEFICIARIES"), whose mailing address is 1920 Sagewood Ave., #202, Grand
<br />Island, Nebraska 68803.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys, and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiaries, under and subject to the terms and conditions of this Deed of Trust, the real
<br />property located in the County of Hall, State of Nebraska, and legally described as follows:
<br />(the "Property"):
<br />Lot Seven (7) and the South Twelve (12) feet of Lot Six (6), all in Block
<br />Twelve (12) in Parkhill Third Subdivision, an Addition in the City of Grand
<br />Island, Hall County, Nebraska.
<br />TOGETHER WITH all rents, easements, appurtenances, hereditaments, interest in
<br />adjoining roads, improvements and buildings of any kind situated thereon and all personal
<br />property that may be or hereafter become an integral part of such property.
<br />The property and the entire estate and interest conveyed to the Trustee are referred to
<br />collectively as the "Trust Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $130,000.00, with interest
<br />thereon at the rate of 3.00% per annum, as evidenced by that certain Promissory Note of
<br />even date ('The Note") with a maturity date of October 11, 2031, executed by Trustor, which
<br />has been delivered and is payable to the order of Beneficiaries, and which by this reference is
<br />made a part hereof, and any and all modifications, extensions and renewals thereof;
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with
<br />interest at the rate of 12% per annum (default rate).
<br />This Deed of Trust, Promissory Note, and any other instrument given to evidence or
<br />further secure the payment and performance of any obligation secured hereby are referred to
<br />collectively as the "Loan Instruments".
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