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<br /> I , DEED OF TRUST
<br /> W �
<br /> � \ THIS DEED OF TRUST is made as of the day of , 1999,
<br /> r + 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 SUSAN M. KOENIG, Attorney at Law, ("TRUSTEE") , whoae mailing address is: C�
<br /> P. O. Box 2300, Grand island, Nebraska 68802 and BoNNIE RANGE, Truatee of the
<br /> Bonnie Range Living Truat ("BENEFICIARY") , whose mailing address is: 1503
<br /> Piper Street, Grand 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
<br /> of Beneficiary, under and aubject to the terma 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 /> The Northerly Ninety (90.0) feet of Lots One (1) and Two (2) and
<br /> the Westerly Twelve (12.0) feet of the Southerly Forty-two (42.0)
<br /> feet of Lot Two (2) , all in Fractional Block One Hundred Twenty-
<br /> two (122) , Koenig & Wiebe's Addition to the City of Grand Island,
<br /> Hall County, Nebraska.
<br /> TOGETHER WITH all rents, easements, appurtenances, hereditamenta,
<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 Truatee
<br /> are referred to collectively aa the "Trust Estate".
<br /> FOR TEiE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness in the total principal amount of $94,000.00,
<br /> with interest thereon, as evidenced by the er ain Prom ssory Note of even
<br /> date (the "Note") with a maturity date of ��e . l a 1�_, executed by
<br /> Trustor, which has been deli��ered and is paynble to the order of Beneficiary,
<br /> and which by this reference is hereby made a part hereof, and any and all
<br /> modifications, extensions and renewals thereof, and,
<br /> b. Payment of all sums advanced by Benefic'ary to protect the Trust
<br /> Estate, with interest thereon at the rate of �/X�e�-►. percent (��)
<br /> per annum.
<br /> This Deed of Trust, 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 ahall 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 ahall pay each installment of all taxes and apecial
<br /> assessments of every kind, now or hereafter levied against the Trust Estate or
<br /> any part hereof, before delinquency, without notice or demand, and shall
<br /> provide Beneficiary with evidence of the payment of same. Trustor shall pay
<br /> all taxes and assessments which may be levied upon Beneficiary's interest
<br /> herein or upon this Deed of Trust or the debt secured 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 ahall not deteriorate. In no event
<br /> shall the Trustor commit waste on or to the Trust Estate.
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