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<br />TRUST DEED
<br />THIS DEED OF TRUST is made on December 10, 2004. The Trustors are Bernard G. Crist
<br />and Bernice R. Crist, husband and wife, whose address is 2532 W. Phoenix, Grand Island,
<br />Nebraska 68803. The Trustee is Kevin A. Brostrom, an attorney licensed in the State of Nebraska,
<br />whose address is P.O. Box 400, Grand Island, Nebraska 68802 ( "Trustee "). The beneficiary is
<br />Arthur H. Tillman, a married person, whose address is 3119 W. Faidley Avenue, Grand Island,
<br />Nebraska ( "Lenders "). Borrowers owe Lenders the principal sum of Eighty -one Thousand Three
<br />Hundred Seventy -six Dollars and Seventy -three Cents ($81,376.73). This debt is evidenced by
<br />Borrowers' note dated the same date as this Security Instrument ( "Note "), which provides for no
<br />interest with the full amount being paid on or before April 1, 2005. The Security Instrument secures
<br />to Lenders: (a) the repayment of the debt evidenced by the Note and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to
<br />protect the security of this Security Instrument; and (c) the performance of Borrowers' covenants
<br />and agreements. For this purpose, Borrowers irrevocably grant and convey to Trustee, in trust,
<br />with power of sale, the following described property located in Hall County, Nebraska:
<br />Lot Nine (9), Block Twelve (12), Parkhill Third Subdivision, City of Grand Island, Hall
<br />County, 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
<br />rights and stock and all fixtures now or hereafter a part of the property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property ".
<br />BORROWERS COVENANT that Borrowers are lawfully seized of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is
<br />unencumbered, except for encumbrances of record. Borrowers warrant and will defend generally
<br />the title to the 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. Funds for Taxes and Insurance. Borrowers agree to pay for all real estate taxes and
<br />insurance as they become due.
<br />3. Application of Payments. All payments received by Lenders under paragraph 1 shall
<br />be applied: first, to late charges due under the Note, if any; second, to prepayment charges due
<br />under the Note, if any, and, last, to principal due.
<br />4. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and
<br />impositions attributable to the Property which may attain priority over this Security Instrument.
<br />Borrowers shall pay them on time directly to the person owed payment. When Borrowers make
<br />these payments directly, Borrowers shall promptly furnish to Lenders receipts evidencing the
<br />payments.
<br />Borrowers shall promptly discharge any lien which has priority over this Security
<br />Instrument unless Borrowers: (a) agree in writing to the payment of the obligation secured by the
<br />lien in a manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against
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<br />THIS DEED OF TRUST is made on December 10, 2004. The Trustors are Bernard G. Crist
<br />and Bernice R. Crist, husband and wife, whose address is 2532 W. Phoenix, Grand Island,
<br />Nebraska 68803. The Trustee is Kevin A. Brostrom, an attorney licensed in the State of Nebraska,
<br />whose address is P.O. Box 400, Grand Island, Nebraska 68802 ( "Trustee "). The beneficiary is
<br />Arthur H. Tillman, a married person, whose address is 3119 W. Faidley Avenue, Grand Island,
<br />Nebraska ( "Lenders "). Borrowers owe Lenders the principal sum of Eighty -one Thousand Three
<br />Hundred Seventy -six Dollars and Seventy -three Cents ($81,376.73). This debt is evidenced by
<br />Borrowers' note dated the same date as this Security Instrument ( "Note "), which provides for no
<br />interest with the full amount being paid on or before April 1, 2005. The Security Instrument secures
<br />to Lenders: (a) the repayment of the debt evidenced by the Note and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to
<br />protect the security of this Security Instrument; and (c) the performance of Borrowers' covenants
<br />and agreements. For this purpose, Borrowers irrevocably grant and convey to Trustee, in trust,
<br />with power of sale, the following described property located in Hall County, Nebraska:
<br />Lot Nine (9), Block Twelve (12), Parkhill Third Subdivision, City of Grand Island, Hall
<br />County, 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
<br />rights and stock and all fixtures now or hereafter a part of the property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property ".
<br />BORROWERS COVENANT that Borrowers are lawfully seized of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is
<br />unencumbered, except for encumbrances of record. Borrowers warrant and will defend generally
<br />the title to the 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. Funds for Taxes and Insurance. Borrowers agree to pay for all real estate taxes and
<br />insurance as they become due.
<br />3. Application of Payments. All payments received by Lenders under paragraph 1 shall
<br />be applied: first, to late charges due under the Note, if any; second, to prepayment charges due
<br />under the Note, if any, and, last, to principal due.
<br />4. Charges; Liens. Borrowers shall pay all taxes, assessments, charges, fines, and
<br />impositions attributable to the Property which may attain priority over this Security Instrument.
<br />Borrowers shall pay them on time directly to the person owed payment. When Borrowers make
<br />these payments directly, Borrowers shall promptly furnish to Lenders receipts evidencing the
<br />payments.
<br />Borrowers shall promptly discharge any lien which has priority over this Security
<br />Instrument unless Borrowers: (a) agree in writing to the payment of the obligation secured by the
<br />lien in a manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against
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