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<br /> 9� �O / O �l p DEED OF TRUST
<br /> �� s
<br /> THIS DEED OF TRUST is made as of the 7th day of J�e , 1999, � �
<br /> by and among DONDO ENTERPRISES, L.L.C. , A NEBRASKA LIMITED LIABILITY COMPANY,
<br /> ("TRUSTOR") , whose mailing address is: P. O. Box 27, Osceola, Nebraska 68651,
<br /> and EARL D. AHLSCHWEDE, Attorney at Law, ("TRUSTEE"), whose mailing address
<br /> is: P. O. Box 2300, Grand Island, Nebraska 68802 and LEON E. CEDERLIND and
<br /> ENID R. CEDERLIND, Husband and Wife, ("BENEFICIARY") , whose mailing address
<br /> is: 4706 Gunbarrel Place, Grand Island, Nebraska 68801.
<br /> FOR VALUABLE CONSIDERATZON, Trustor irrevocably transfers, conveys, and
<br /> assigna to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security
<br /> of Beneficiary, under and subject to the terms and conditions of this Deed of
<br /> Trust, the real property located in the County of Hall, State of Nebraska, and
<br /> legally described as follows: (the "Property") :
<br /> ; Lots 3, 5 and 7, Block 16, College Addition to West Lawn in the
<br /> City of Grand Island, Hall County, Nebraska.
<br /> TOGETHER WITH all rents, easementa, appurtenancea, hereditaments,
<br /> interests in adjoining roads, streets and alleys, improvements and buildings
<br /> of any kind situated thereon and all personal property that may be or
<br /> hereafter become an integral part of such buildings and improvements.
<br /> The property and the entire estate and interest conveyed to the Trustee
<br /> are referred to collectively as the "Truat Eatate".
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of $91,000.00,
<br /> with interest thereon, as evidenced by the certain Promissory Note of even
<br /> date (the "Note") with a maturity date of June l, 2019, executed by Trustor,
<br /> which has been delivered and is payable to the order of Beneficiary, and which
<br /> by this reference is hereby made a part hereof, and any and all modifications,
<br /> extenaions and renewals thereof, and,
<br /> b. Payment of all sums advanced by Beneficiary to protect the Trust
<br /> Estate, with interest thereon at the rate of fourteen percent (14$) per annum.
<br /> This Deed of Truat, the Note, and any other instrument given to evidence
<br /> or further secure the payment and performance of any obligation secured hereby
<br /> are referred to collectively as the "Loan Instruments".
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br /> 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal
<br /> of, and the interest on, the indebtedness evidenced by the Note, charges, fees
<br /> and all other sums as provided in the Loan Instruments.
<br /> 2. TAXES. Trustor shall pay each installment of all taxes and special
<br /> asaessments of every kind, now or hereafter levied against the Truat Estate or
<br /> any part hereof, before delinquency, without notice or demand, and ahall
<br /> provide Beneficiary with evidence of the payment of same. Truator shall pay
<br /> all taxes and assesaments which may be levied upon Beneficiary's interest
<br /> herein or upon this Deed of Trust or the debt aecured hereby, without regard
<br /> to any law that may be enacted imposing payment of the whole or any part
<br /> thereof upon the Beneficiary.
<br /> 3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended
<br /> coverage insurance insuring the improvements and buildings constituting part
<br /> of the Trust Estate for an amount no less than the amount of the unpaid
<br /> principal balance of the Note (co-insurance not exceeding 80� permitted) .
<br /> Such insurance policy shall contain a standard mortgage clause in favor of
<br /> Beneficiary and shall not be cancelable, terminable, or modifiable without ten
<br /> (10) days prior written notice to Beneficiary. Trustor shall promptly repair,
<br /> maintain and replace the Trust Estate or any part thereof so that, except for
<br /> ordinary wear and tear, the Trust Estate shall not deteriorate. In no event
<br /> ehall the Truator commit waete on or to the Truet Eetate.
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