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NEBRASKA 200412243
<br />SECOND DEED OF TRUST
<br />(HBA)
<br />This Second Deed of Trust (this "Second Deed of Trust "), is made as of December 21. 2004, by and among
<br />Larry K Stafford and Crystal L Stafford. Husband and Wife ( "Trustor "), whose mailing address is 1315 Marshall St, Wood River, NE
<br />68883 ; Commercial Federal Bank, a Federal Savings Bank ( "Trustee "), whose mailing address is
<br />450 Regency Parkway , Omaha, Nebraska; and Nebraska Investment Finance
<br />Authority (`Beneficiary"), whose mailing address is 200 Commerce Court, 1230 O Street, Lincoln, Nebraska 68508 -1402.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF
<br />SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Second Deed of Trust, the real property,
<br />legally described as follows (the "Property"): Lot Eight (8), in Block Five (5), in Dodd and Marshall's Addition to the Town of Wood River, Hall
<br />County, Nebraska.
<br />[Legal Description]
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the Property (collectively, the "rents "), all leases or
<br />subleases covering the Property or any portion thereof now or hereafter existing or entered into, and all right, title and interest of Trustor thereunder,
<br />all right, title and interest of Trustor in and to any greater estate in the Property owned or hereafter acquired, all interests, estate or other claims, both
<br />in law and in equity, which Trustor now has or may hereafter acquire in the Property, all easements, rights -of -way, tenements, hereditaments and
<br />appurtenances thereof and thereto, all water rights, all right, title and interest of Trustor, now owned or hereafter acquired, in and to any land, lying
<br />within the right -of -way of any street or highway adjoining the Property, and any and all alleys and strips and gores of land adjacent to or used in
<br />connection with the Property, and any and all buildings, fixtures and improvements now or hereafter erected thereon (the "Improvements "), and all
<br />the estate, interest, right, title or any claim or demand which Trustor now has or may hereafter acquire in the Property, and any and all awards made
<br />for the taking by eminent domain, or by any proceeding or purchase in lieu thereof, of the whole or any part of the Trust Estate, including without
<br />limitation any awards resulting from a change of grade of streets and awards for severance damages.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate ".
<br />For the Purpose of Securing:
<br />A. Payment of indebtedness evidenced by any promissory note of Trustor in favor of Beneficiary; and
<br />B. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of sixteen percent (16 %)
<br />per annum.
<br />The indebtedness described in paragraphs A and B above is referred to as the "Indebtedness."
<br />This Second Deed of Trust, any promissory note of Trustor in favor of Beneficiary and any other instrument given to evidence or further
<br />secure the payment and performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />Trustor covenants that (i) Trustor holds title to the Trust Estate and has lawful authority to encumber the Trust Estate, (ii) the Trust Estate is
<br />free and clear of all liens and encumbrances except for easements, restrictions and covenants of record and the Deed of Trust from Trustor
<br />encumbering the Property dated on or about the date hereof (the "First Deed of Trust "), and (iii) Trustor will defend the Trust Estate against the
<br />lawful claims of any person.
<br />To Protect the Security of this Second Deed of Trust:
<br />1. Payment of Indebtedness. Trustor shall pay when due the principal of, and the interest on, the Indebtedness and all other sums
<br />as provided in the Loan Instruments.
<br />2. Taxes. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied against the
<br />Trust Estate or any part thereof, before delinquency, without notice or demand.
<br />3. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring the Improvements constituting part
<br />of the Trust Estate for such amounts and on such terms reasonably satisfactory to Beneficiary. So long as the Property is secured by a first deed of
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