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200412483
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made on this 30th day of December, 2004. The Trustor
<br />(whether one or more) is KELVIN E. KLEEB and SUSAN A. KLEEB, Husband and Wife,
<br />whose address for purposes of notices in respect to this Deed of Trust is 7535 S. 60" Rd., Alda,
<br />NE 68810 and is sometimes herein identified as Borrower. The Trustee is Cathleen H. Allen,
<br />Attorney at Law and member of the Nebraska State Bar Association, whose address is 104 N.
<br />Wheeler, P.O. Box 790, Grand Island, NE 68802 -0790. The Beneficiary is DENNIS L. KRUG,
<br />whose address for purposes of notification under this Deed of Trust is 623 Gothic Avenue, Unit
<br />3, P.O. Box 1997, Crested Butte, CO 81224 and is sometimes herein identified as Lender.
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH
<br />POWER OF SALE, THE FOLLOWING:
<br />The North Half of the Northwest Quarter (N `/2 NW 1/4) and the Northwest Quarter
<br />of the Northeast Quarter (NW 1/4 NE 1/4) of Section Thirty -Five (35), Township
<br />Ten (10) North, Range Eleven (11) West of the 6th P.M., Hall County, Nebraska;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof; and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and cooling equipment and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived, all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property ".
<br />This Deed of Trust secures the total sum of One Hundred Twelve Thousand and No/ 100
<br />Dollars ($112,000.00) as evidenced by Borrower's Deed of Trust Note of even date herewith
<br />(hereinafter referred to as "Debt ") which has a stated maturity date of December 31, 2014. This
<br />Debt shall include any and all modifications, extensions and renewals thereof or thereto and any
<br />and all future advances and re- advances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note ").
<br />This Deed of Trust secures to Lender the Debt evidenced by said Note, the payment of all
<br />other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title to the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />1. Borrower shall pay when due, the principal and interest as provided in said Note.
<br />2. All payments received by Lender shall be first applied to advances that may have been
<br />made by Lender and then to interest due and last to principal due.
<br />3. Borrower shall pay all general real estate taxes and special assessments against the
<br />Property before the same become delinquent.
<br />4. Borrower shall keep the improvements on said Property insured against loss by fire
<br />and hazards included with the term "extended coverage" for their insurable value and policies for
<br />the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
<br />except if restoration or repair is not economically feasible or Lender's security is not lessened,
<br />otherwise said proceeds shall be paid on the debt herein, whether or not then due.
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