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<br />THIS TRUST DEED made this 16th day of February, 2004, between MARGOTH
<br />O
<br />CARPIO, a married person, and BRENDA EUGENIA PANAMENO, a single person, as
<br />TRUSTORS, whose address is 404 West Third, Grand Island, Nebraska 68801; John M.
<br />Cunningham, #17276, a member of the Nebraska State Bar Association, as TRUSTEE,
<br />whose address is 222 North Cedar, Grand Island, Nebraska 68801; and THOMAS W.
<br />O'NEILL and JILL A. O'NEILL, husband and wife, and TIMOTHY R. O'NEILL and MIKI
<br />S. O'NEILL, husband and wife, whose address is 802 West Stolley Park Road, Grand
<br />Island, Nebraska 68801, as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Lot Three (3), Prensa Latina Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of THIRTY THOUSAND DOLLARS ($30,000.00), the
<br />TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on January 1, 2009. All payments due hereunder shall be paid at
<br />the address of the BENEFICIARIES as above described, or at such other place as
<br />such BENEFICIARIES or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of
<br />which has been provided to each of the parties hereto, and the remainder of each
<br />payment of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARIES, in
<br />an amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARIES as additional insureds, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARIES with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier without fifteen
<br />(15) days written notice to BENEFICIARIES.
<br />E. In the event the TRUSTORS fail or neglect to pay taxes and procure
<br />casualty insurance, all as above set forth, then BENEFICIARIES may pay
<br />such taxes and procure such insurance, and all sums expended and advanced
<br />by BENEFICIARIES and TRUSTEE in accordance with the provisions contained
<br />-1-
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<br />THIS TRUST DEED made this 16th day of February, 2004, between MARGOTH
<br />O
<br />CARPIO, a married person, and BRENDA EUGENIA PANAMENO, a single person, as
<br />TRUSTORS, whose address is 404 West Third, Grand Island, Nebraska 68801; John M.
<br />Cunningham, #17276, a member of the Nebraska State Bar Association, as TRUSTEE,
<br />whose address is 222 North Cedar, Grand Island, Nebraska 68801; and THOMAS W.
<br />O'NEILL and JILL A. O'NEILL, husband and wife, and TIMOTHY R. O'NEILL and MIKI
<br />S. O'NEILL, husband and wife, whose address is 802 West Stolley Park Road, Grand
<br />Island, Nebraska 68801, as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Lot Three (3), Prensa Latina Subdivision, in the City of Grand Island,
<br />Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of THIRTY THOUSAND DOLLARS ($30,000.00), the
<br />TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on January 1, 2009. All payments due hereunder shall be paid at
<br />the address of the BENEFICIARIES as above described, or at such other place as
<br />such BENEFICIARIES or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of
<br />which has been provided to each of the parties hereto, and the remainder of each
<br />payment of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARIES, in
<br />an amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARIES as additional insureds, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARIES with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier without fifteen
<br />(15) days written notice to BENEFICIARIES.
<br />E. In the event the TRUSTORS fail or neglect to pay taxes and procure
<br />casualty insurance, all as above set forth, then BENEFICIARIES may pay
<br />such taxes and procure such insurance, and all sums expended and advanced
<br />by BENEFICIARIES and TRUSTEE in accordance with the provisions contained
<br />-1-
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