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<br />DEED OF TRUST 0
<br />THIS TRUST DEED made this Il day of November, 2004, between ALFONSO
<br />ARVIZO and VIRGINIA M. ARVIZO, husband and wife, as TRUSTORS, whose address is
<br />1336 N. Sherman Place, Grand Island, Nebraska 68803; JOHN M. CUNNINGHAM, a
<br />member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 '
<br />N. Cedar St., P.O. Box 2280, Grand Island, NE 68802; and DOUGLAS C. FERGUSON and
<br />MARGARET M. FERGUSON, husband and wife, as joint tenants with right of
<br />survivorship, whose address is 102 Lynn Lane, Grand Island, Nebraska 68801, as
<br />BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Part of the Northwest Quarter of the Northwest Quarter (NW1 /4 NW1 /4)
<br />of Section Twenty -Two (22), Township Eleven (11) North, Range Nine
<br />(9) West of the 6th P.M., in Hall County, Nebraska, more
<br />particularly described as follows:
<br />Beginning at a point Forty Feet (40') East and Five Hundred Eighty -
<br />Two Feet (582') South of the Northwest Corner of said Section 22,
<br />Township 11 North, Range 9 West, thence due East One Hundred Thirty -
<br />Two Feet (132') parallel with the North line of said Section; thence
<br />due South parallel with the West line of said Section 22, Sixty -Six
<br />Feet (66'); thence due West parallel with the North line of said
<br />Section 22, One Hundred Thirty -Two Feet (132'); thence North and
<br />parallel with the West line of said Section 22, Sixty -Six Feet (66')
<br />to the point of beginning (Said Tract formerly being described as
<br />Lot Five (5) in Block Six (6), South Grand Island.) , Excepting
<br />therefrom the Warranty Deed recorded at Book 164, Page 29, in the
<br />Office of the Register of Deeds, Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of ONE HUNDRED TWENTY -FIVE THOUSAND DOLLARS
<br />($125,000.00), the TRUSTORS have executed a Trust Deed Note bearing even date,
<br />at the rate of interest and on the terms and conditions as set forth in such
<br />Trust Deed Note until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Trust Deed Note of even
<br />date, and in any event the entire principal balance due hereunder and any accrued
<br />interest shall be paid in a final balloon payment of One Hundred Twelve Thousand
<br />Six Hundred Thirty -Four Dollars and Eighty -Two Cents ($112,634.82) on June 1,
<br />2007. All payments due hereunder shall be paid to JOHN M. CUNNINGHAM, TRUSTEE,
<br />at the address above described, or at such other place as the TRUSTEE and /or the
<br />BENEFICIARIES or the holders of said security shall designate in writing. All
<br />installment payments hereunder shall be applied first to the payment of interest
<br />on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has
<br />been provided to each of the parties hereto, and the remainder of each payment
<br />of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that whine title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
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