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<br /> ---- ----- [Space Above This Line For Recording Data] -- — --------------��'
<br /> TRUST DEED �9 � �815 2 ��
<br /> THIS TRUST DEED is made and entered into this 20th day of July, 1999 by and between KMK Custom Builders,
<br /> Inc., TRUSTOR, whether one or more; and Old Republic National Tytle Insurance Company, TRUSTEE; and James
<br /> S.Reed&Precious A.Reed,BENEFICIARY,whether one or more.
<br /> WITNESSETH: That the Trustor does by these presentsgr ant, bargain, sell, convey and confirm unto the Trustee,
<br /> with Power of Sale, the following-described real estate including all buildings, improvements, and fixtures of every kind now
<br /> or hereafter erected or placed on the real estate situated m Hall County, Nebraska, described as:
<br /> Lot Seven (7), Jeffrey Oaks Sixth Subdivision in the City of Grand Island, Hall County, Nebraska.
<br /> In the event of the sale, transfer �r conveyance of the above-described property to any third party, all sums secured
<br /> hereby shall be at once due and payable.
<br /> TO HAVE AND HOLD the same, with all rights, privileges, and appurtenances thereunto belonging, unto the
<br /> Trustee, lus executors, administrators, heirs and assigns forever. And the Trustor hereby expressly waives, releases, and
<br /> relinc�uishes unto the Trustee all right, title, claim, interest, benefit and estate whatever, in and to the above described
<br /> premises and each and every part thereof, which is given by or results from all laws of the State of Nebraska pertaining to
<br /> the exemption of homestead. And the Trustor covenants with the Trustee that he will forever warrant and defend the title
<br /> to the same against the lawful claims of all persons whomsoever.
<br /> IN TRUST, HOWEVER, for the following described purposes: WHEREAS, the Trustor did on this date execute
<br /> a Promissory Note evidencing a loan for the principal sum of$80,000.00 and interest thereon according to the terms of said
<br /> Promissory Note, being payable in monthly installments at such place as the Beneficiary may designate in writing from time
<br /> to time. Notwithstanding any provision contained herein or in said Promissory Note to the contrary, if not sooner paid, all
<br /> sums due and owing under the terms of said Note shall be paid on the 20th day of January, 2000.
<br /> In the event of default, Beneficiary's remedies shall not be limited to those provided for herein. This Trust Deed
<br /> may be foreclosed in the manner perscribed by law for foreclosure of mortgages.
<br /> IT IS AGREED by and between the parties hereto that the Trustor shall: (1) pay all present and future taxes and
<br /> assessments, general and special, against said property before the same become delinquent or actionable; (2) keep all
<br /> improvements erected on the land insured as may be required from time to time by Beneficiazy against loss by fire and other
<br /> hazards, casualties and contingencies, in such amounts and for such periods as are reasonable and may be required by the
<br /> Beneficiary, and to keep all policies of such insurance in force and effect and delivered to the Beneficiary, and naming
<br /> Trustor and Beneficiary as loss payees, as their interests may appear; (3) pay and comply with all of the terms and conditions
<br /> of any lien, claim or indebtedness that may be senior to and take precedence over this Trust Deed as soon as such payment
<br /> on or of such lien, claim or indebtedness shall become due; and upon failure of the Trustor to keep any of said agreements,
<br /> the said Beneficiary may pay such ta� pay for such insurance, or pay off any and all such liens, or indebtedness as the case
<br /> may be, and money e�ended, with interest as provided by the terms of the aforementioned Promissory Note, shall be
<br /> secured by this Trust Deed, and the Trustor agrees to pay the same upon demand, and upon failure to do so, the balance
<br /> of said Promissory note shall become immediately due and payable at the option of the Beneficiary; (4) specifically confer
<br /> upon the Trustee the Power of Sale as provided in Nebraska law; �5) retain possession of the premises and collect the rents
<br /> and revenues therefrom; (6) maintain the Property in a condition o maintenance and repair such that the interest of Trustee
<br /> and Beneficiary are not reduced in value through waste. Failure to comply with any of the foregoing provisions shall
<br /> constitute an event of default under the terms of this Trust Deed.
<br /> ABANDONMENT OF THE PROPERTY BY TRUSTOR. In the event that Trustor abandons the property, or
<br /> if circumstances reasonably indicate that Trustor has abandoned the Pro�erty whether or not in connection with any other
<br /> event of default, Beneficiary shall have the right, following filing of Notice of Default, to enter upon the premises for the
<br /> purpose of securing the same and for carrying out any other measures necessary to protect and preserve the interests of
<br /> the Beneficiary in and to the Property. Trustor specifically agrees to hold Trustee and Beneficiary and their employees,
<br /> servants and agents harmless for any damages unavoidably inflicted upon the Property in connection with the exercise of
<br /> rights arising under this Paragraph,and hereby waives any cause of action arising therefrom.
<br /> Upon payment of all sums secured by this Trust Deed, the Beneficiary shall request the Trustee, in writing to
<br /> reconvey the property and shall surrender this Trust Deed and all notes evidencmg indebtedness secured by this Trust Deed
<br /> to the Trustee. Trustee shall reconvey the property without warranty to the person or persons legally entitled thereto; but
<br /> if default be made in the payment of said Note or any part thereof or any of the interest thereon when due or in the faithful
<br /> performance of any or either of said agreements as aforesaid, then the whole of said Note shall become due and be paid
<br /> as hereinafter provided, and this deed shall remain in force. The Trustee or his attorney may then proceed to sell the
<br /> property m its entirety or in parcels at the option of the Trustee, hereinbefore described at public auction, to the highest
<br /> bidder for cash.
<br /> Pap�1 Form Soflwan bv Automahd Real E�tau S�rvice�_Ine. f.ioo.a�a�zos ade.��i se_e.■�
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