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<br />TRUSS DEED
<br />THIS DEED OF TRUST is made on 4 S-7L �� , 2004. The Trustors are Stephanie
<br />L. Sheeks and Jeffrey L. Sheeks, ( "Borrowers"): he Trustee is Denise D. Myers, Attorney at Law,
<br />( "Trustee "). The beneficiaries are Gerald L. Franzen and Sharon K. Franzen, whose address is 2217
<br />Gateway Ave., Grand Island, NE 68803 ( "Lenders "). Borrowers owe Lenders the principal sum of
<br />One Hundred Thousand and 00 /100 Dollars ($100,000.00). This debt is evidenced by Borrowers'
<br />note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments, '
<br />with a balloon payment after 24 months. The Security Instrument secures to Lenders: (a) the
<br />repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect
<br />the security of this Security Instrument; and (c) the performance of Borrowers' covenants and
<br />agreements. For this purpose, Borrowers irrevocably grant and convey to Trustee, in trust, with
<br />power of sale, the following described property located in Hall County, Nebraska:
<br />Unit Seven (7), Raven Oaks Condominium, in the City of Grand Island, Hall County,
<br />Nebraska, a Condominium in Accordance with the Amended Master Deed and
<br />Declaration recorded on April 3, 2000, under Document No. 200002611 of the
<br />County of Hall, State of Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights
<br />and stock and all fixtures now or hereafter a part of the property. All replacements and additions
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument as the "Property".
<br />BORROWERS COVENANT that Borrowers are lawfully seised of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is unencumbered,
<br />except for encumbrances of record. Borrowers warrant and will defend generally the title to the
<br />Property against all claims and demands, subject to any encumbrances of record.
<br />COVENANTS. Borrowers and Lenders covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrowers shall
<br />promptly pay when due the principal of and interest on the debt evidenced by the Note and any
<br />prepayment and late charges due under the Note.
<br />2. Application of Payments. All payments received by Lenders under paragraphs 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the Note;
<br />third, to interest due; and, last, to principal due.
<br />3. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which may attain priority over this Security Instrument, and leasehold
<br />payments or ground rents, if any. Borrowers shall pay them on time directly to the person owed
<br />payment. Borrowers shall promptly furnish to Lenders all notices of amounts to be paid under this
<br />paragraph. If Borrowers make these payments directly, Borrowers shall promptly furnish to Lenders
<br />receipts evidencing the payments.
<br />Borrowers shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrowers: (a) agree in writing to the payment of the obligation secured by the lien in a
<br />manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against enforcement
<br />of the lien in, legal proceedings which in the Lenders' opinion operate to prevent the enforcement of
<br />the lien or forfeiture of any part of the Property; or (c) secure from the holder of the lien an
<br />agreement satisfactory to Lenders subordinating the lien to this Security Instrument. If Lenders
<br />determine that any part of the Property is subject to a lien which may attain priority over this Security
<br />Instrument, Lenders may give Borrowers a notice identifying the lien. Borrowers shall satisfy the lien
<br />or take one or more of the actions set forth above within 10 days of the giving of notice.
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<br />TRUSS DEED
<br />THIS DEED OF TRUST is made on 4 S-7L �� , 2004. The Trustors are Stephanie
<br />L. Sheeks and Jeffrey L. Sheeks, ( "Borrowers"): he Trustee is Denise D. Myers, Attorney at Law,
<br />( "Trustee "). The beneficiaries are Gerald L. Franzen and Sharon K. Franzen, whose address is 2217
<br />Gateway Ave., Grand Island, NE 68803 ( "Lenders "). Borrowers owe Lenders the principal sum of
<br />One Hundred Thousand and 00 /100 Dollars ($100,000.00). This debt is evidenced by Borrowers'
<br />note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments, '
<br />with a balloon payment after 24 months. The Security Instrument secures to Lenders: (a) the
<br />repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect
<br />the security of this Security Instrument; and (c) the performance of Borrowers' covenants and
<br />agreements. For this purpose, Borrowers irrevocably grant and convey to Trustee, in trust, with
<br />power of sale, the following described property located in Hall County, Nebraska:
<br />Unit Seven (7), Raven Oaks Condominium, in the City of Grand Island, Hall County,
<br />Nebraska, a Condominium in Accordance with the Amended Master Deed and
<br />Declaration recorded on April 3, 2000, under Document No. 200002611 of the
<br />County of Hall, State of Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights
<br />and stock and all fixtures now or hereafter a part of the property. All replacements and additions
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument as the "Property".
<br />BORROWERS COVENANT that Borrowers are lawfully seised of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is unencumbered,
<br />except for encumbrances of record. Borrowers warrant and will defend generally the title to the
<br />Property against all claims and demands, subject to any encumbrances of record.
<br />COVENANTS. Borrowers and Lenders covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrowers shall
<br />promptly pay when due the principal of and interest on the debt evidenced by the Note and any
<br />prepayment and late charges due under the Note.
<br />2. Application of Payments. All payments received by Lenders under paragraphs 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the Note;
<br />third, to interest due; and, last, to principal due.
<br />3. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which may attain priority over this Security Instrument, and leasehold
<br />payments or ground rents, if any. Borrowers shall pay them on time directly to the person owed
<br />payment. Borrowers shall promptly furnish to Lenders all notices of amounts to be paid under this
<br />paragraph. If Borrowers make these payments directly, Borrowers shall promptly furnish to Lenders
<br />receipts evidencing the payments.
<br />Borrowers shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrowers: (a) agree in writing to the payment of the obligation secured by the lien in a
<br />manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against enforcement
<br />of the lien in, legal proceedings which in the Lenders' opinion operate to prevent the enforcement of
<br />the lien or forfeiture of any part of the Property; or (c) secure from the holder of the lien an
<br />agreement satisfactory to Lenders subordinating the lien to this Security Instrument. If Lenders
<br />determine that any part of the Property is subject to a lien which may attain priority over this Security
<br />Instrument, Lenders may give Borrowers a notice identifying the lien. Borrowers shall satisfy the lien
<br />or take one or more of the actions set forth above within 10 days of the giving of notice.
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<br />TRUSS DEED
<br />THIS DEED OF TRUST is made on 4 S-7L �� , 2004. The Trustors are Stephanie
<br />L. Sheeks and Jeffrey L. Sheeks, ( "Borrowers"): he Trustee is Denise D. Myers, Attorney at Law,
<br />( "Trustee "). The beneficiaries are Gerald L. Franzen and Sharon K. Franzen, whose address is 2217
<br />Gateway Ave., Grand Island, NE 68803 ( "Lenders "). Borrowers owe Lenders the principal sum of
<br />One Hundred Thousand and 00 /100 Dollars ($100,000.00). This debt is evidenced by Borrowers'
<br />note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments, '
<br />with a balloon payment after 24 months. The Security Instrument secures to Lenders: (a) the
<br />repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect
<br />the security of this Security Instrument; and (c) the performance of Borrowers' covenants and
<br />agreements. For this purpose, Borrowers irrevocably grant and convey to Trustee, in trust, with
<br />power of sale, the following described property located in Hall County, Nebraska:
<br />Unit Seven (7), Raven Oaks Condominium, in the City of Grand Island, Hall County,
<br />Nebraska, a Condominium in Accordance with the Amended Master Deed and
<br />Declaration recorded on April 3, 2000, under Document No. 200002611 of the
<br />County of Hall, State of Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights
<br />and stock and all fixtures now or hereafter a part of the property. All replacements and additions
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument as the "Property".
<br />BORROWERS COVENANT that Borrowers are lawfully seised of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is unencumbered,
<br />except for encumbrances of record. Borrowers warrant and will defend generally the title to the
<br />Property against all claims and demands, subject to any encumbrances of record.
<br />COVENANTS. Borrowers and Lenders covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrowers shall
<br />promptly pay when due the principal of and interest on the debt evidenced by the Note and any
<br />prepayment and late charges due under the Note.
<br />2. Application of Payments. All payments received by Lenders under paragraphs 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the Note;
<br />third, to interest due; and, last, to principal due.
<br />3. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which may attain priority over this Security Instrument, and leasehold
<br />payments or ground rents, if any. Borrowers shall pay them on time directly to the person owed
<br />payment. Borrowers shall promptly furnish to Lenders all notices of amounts to be paid under this
<br />paragraph. If Borrowers make these payments directly, Borrowers shall promptly furnish to Lenders
<br />receipts evidencing the payments.
<br />Borrowers shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrowers: (a) agree in writing to the payment of the obligation secured by the lien in a
<br />manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against enforcement
<br />of the lien in, legal proceedings which in the Lenders' opinion operate to prevent the enforcement of
<br />the lien or forfeiture of any part of the Property; or (c) secure from the holder of the lien an
<br />agreement satisfactory to Lenders subordinating the lien to this Security Instrument. If Lenders
<br />determine that any part of the Property is subject to a lien which may attain priority over this Security
<br />Instrument, Lenders may give Borrowers a notice identifying the lien. Borrowers shall satisfy the lien
<br />or take one or more of the actions set forth above within 10 days of the giving of notice.
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