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<br />DEED
<br />OF TRUST
<br />0
<br />THIS TRUST DEED made this day of N9.u.&RrksL51r, 2004, b_eXween JEFFREY L.
<br />S,q?DEMEI R, a single person, as TRUSTOR, whose address is oweer 81M
<br />b Ci.nd lcod , re, �O 3301 ; John M.
<br />Cunningham, Attorney at Law, a member of the Nebraska State Bur Association, as
<br />TRUSTEE, whose address is 222 North Cedar Street, P.O. Box 2280, Grand Island,
<br />Nebraska, 68802; and COMPETITIVE MORTGAGE CO., INC., a Nebraska Corporation,
<br />whose address is 1043 South Locust St., Grand Island, Nebraska, 68801, as
<br />BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following- described real property:
<br />Lot Eleven (11), Block B, in Park -View Subdivision, in the City of Grand
<br />Island, Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY
<br />that he is is lawfully seized and the owner of the above - described property; that
<br />he has has good right and lawful authority to sell and convey said premises and
<br />that said premises are free and clear of all liens and encumbrances, and further,
<br />that TRUSTOR 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 TRUSTOR herein
<br />contained and the payment of FIFTEEN THOUSAND TWO HUNDRED EIGHTY DOLLARS
<br />($15,280.00), payable in sixty (60) monthly payments of One Hundred Seventeen
<br />Dollars and Forty -Nine Cents ($117.49), with the first payment due January 1,
<br />2005, and a like payment on the 1st day of each month thereafter until paid; the
<br />TRUSTOR has executed a Trust Deed Note bearing even date, at the rate of interest
<br />and on the terms and conditions as set forth in such Trust Deed Note until paid.
<br />The principal sum and interest shall be payable in accordance with and upon the
<br />terms and conditions of said Trust Deed Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest shall be paid on
<br />January 1, 2010. All payments due hereunder shall be paid at the address of the
<br />BENEFICIARY as above described, or at such other place as such BENEFICIARY or the
<br />holders of said security shall designate in writing. All installment payments
<br />hereunder shall be applied first to the payment of interest on the unpaid
<br />balance, pursuant to the Amortization Schedule, a copy of which has been provided
<br />to each of the parties hereto, and the remainder of each payment of such
<br />installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTOR 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 BENEFICIARY copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARY, in an
<br />amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARY as additional insured, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTOR agrees to provide BENEFICIARY with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier without fifteen
<br />(15) days written notice to BENEFICIARY.
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