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DEED OF TRUST
<br />THIS TRUST DEED made this P) day of 2004,
<br />between EVAN KOEHN and MARY KOEHN, Husband and Wife, as TRUSTOR;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association,
<br />as TRUSTEE; and THE MEADOWS APARTMENT HOMES, L.L.C., A Nebraska
<br />Limited Liability Company, BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, the following - described real property:
<br />Lot Twenty -Five (25), in Country Meadows Second
<br />Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that he is lawfully seized and the owner of the above -
<br />described property; that he has good right and lawful authority to
<br />sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances except for a first
<br />construction loan to Home Federal Bank, and further, that TRUSTOR
<br />will warrant and defend the title to said premises forever against
<br />the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -SEVEN THOUSAND
<br />DOLLARS ($27,000.00), the TRUSTOR has executed a Promissory Note
<br />dated the same date as this Deed of Trust, at the rate of interest
<br />and on the terms and conditions as set forth in such Note until
<br />paid. The principal sum of the Promissory Note shall be due and
<br />payable on or before May 15, 2005.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
<br />to the BENEFICIARY, in an amount of at least Twenty -Seven
<br />Thousand Dollars ($27,000.00), which policies shall name the
<br />BENEFICIARY as additional insured, with the loss proceeds
<br />payable to the parties as their interests may appear
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<br />DEED OF TRUST
<br />THIS TRUST DEED made this P) day of 2004,
<br />between EVAN KOEHN and MARY KOEHN, Husband and Wife, as TRUSTOR;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association,
<br />as TRUSTEE; and THE MEADOWS APARTMENT HOMES, L.L.C., A Nebraska
<br />Limited Liability Company, BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, the following - described real property:
<br />Lot Twenty -Five (25), in Country Meadows Second
<br />Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that he is lawfully seized and the owner of the above -
<br />described property; that he has good right and lawful authority to
<br />sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances except for a first
<br />construction loan to Home Federal Bank, and further, that TRUSTOR
<br />will warrant and defend the title to said premises forever against
<br />the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -SEVEN THOUSAND
<br />DOLLARS ($27,000.00), the TRUSTOR has executed a Promissory Note
<br />dated the same date as this Deed of Trust, at the rate of interest
<br />and on the terms and conditions as set forth in such Note until
<br />paid. The principal sum of the Promissory Note shall be due and
<br />payable on or before May 15, 2005.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
<br />to the BENEFICIARY, in an amount of at least Twenty -Seven
<br />Thousand Dollars ($27,000.00), which policies shall name the
<br />BENEFICIARY as additional insured, with the loss proceeds
<br />payable to the parties as their interests may appear
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<br />DEED OF TRUST
<br />THIS TRUST DEED made this P) day of 2004,
<br />between EVAN KOEHN and MARY KOEHN, Husband and Wife, as TRUSTOR;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association,
<br />as TRUSTEE; and THE MEADOWS APARTMENT HOMES, L.L.C., A Nebraska
<br />Limited Liability Company, BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, the following - described real property:
<br />Lot Twenty -Five (25), in Country Meadows Second
<br />Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that he is lawfully seized and the owner of the above -
<br />described property; that he has good right and lawful authority to
<br />sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances except for a first
<br />construction loan to Home Federal Bank, and further, that TRUSTOR
<br />will warrant and defend the title to said premises forever against
<br />the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -SEVEN THOUSAND
<br />DOLLARS ($27,000.00), the TRUSTOR has executed a Promissory Note
<br />dated the same date as this Deed of Trust, at the rate of interest
<br />and on the terms and conditions as set forth in such Note until
<br />paid. The principal sum of the Promissory Note shall be due and
<br />payable on or before May 15, 2005.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
<br />to the BENEFICIARY, in an amount of at least Twenty -Seven
<br />Thousand Dollars ($27,000.00), which policies shall name the
<br />BENEFICIARY as additional insured, with the loss proceeds
<br />payable to the parties as their interests may appear
<br />
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