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WITNESSETH: <br />1. Conveyance. The Trustor hereby conveys, sells and warrants to the Trustee, in <br />trust, with power of sale, the following described real estate: <br />Lot Twenty (27), Block Four (4), Replat of Riverside Acres, <br />Grand Island, Hall County, Nebraska <br />the intention being to convey hereby an absolute title in fee simple, together with all buildings, <br />fixtures, improvements and appurtenances thereunto belonging. <br />The Truster covenants and agrees with the said Trustee and Beneficiary that it is <br />lawfully seized of said premises; that Trustor has good, right and lawful authority to sell and <br />convey said premises; that said premises are free and clear of all liens and encumbrances; and <br />that Trustor will warrant and defend title to said premises unto the Trustee and its successors and <br />assigns forever against the claims of all persons. <br />2. Trustor's Primary Obligation: For the purpose of securing performance of each <br />Trustor herein contained and the payment of One Hundred Sixty -one Thousand Dollars <br />($161,000.00) upon the terms set forth in a written Promissory Note in the above amount, as <br />well as future advances. <br />3. Trustor's Secondary Rights and Duties: While title is vested in Trustee and <br />until filing of Notice of Default, the Trustor shall: <br />A. Retain possession of the premises and collect the rents and revenues <br />therefrom. <br />B. Maintain the buildings and improvements located thereon in good <br />condition and repair and shall not remove or sell the same without the <br />written consent of the beneficiary which shall not be unreasonably <br />withheld. <br />C. Procure and maintain policies of insurance against the usual hazards of <br />fire, hail, windstorm and other similar risks, in sums and underwritten by <br />companies acceptable to the Beneficiary, with loss payable to the parties as <br />their interests may appear, and deliver copies of such policies to said <br />Beneficiary. Said insurance policies shall be in an amount of not less than <br />the balance due on any promissory note or notes secured hereby, and shall <br />frame the Beneficiary as an additional insured thereunder. <br />m i <br />