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<br />THIS DEED OF TRUST, is made as of the 14th day March, 2003, by and �J
<br />among, Mick Brown and Lori Brown, husband and wife, jointly & severally \�
<br />( "'Trustor "), whose mailing address is 2807 N. Engelman Road, Grand Island, BE
<br />68803; Gary D. Byrne, a member of the Nebraska State Bar Association,
<br />( "Trustee ") , whose mailing address is P.O. Box 929, North Platte, NE 69103 -0929
<br />and Jack Voss and Wilma Voss, husband and wife, as joint tenants with rights of
<br />survivorship, ( "Beneficiary "), whose mailing address is 2825 N. Fogleman Road,
<br />Grand Island, NE 68801.
<br />FOR VALUABLE CONSIDERATION, Truster irrevocably transfers, conveys
<br />and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Beneficiary, under and subject to the terms and conditions of this
<br />Deed of Trust, the real property located in the County of Hall, State of
<br />Nebraska, and legally described as follows (the "Property ");
<br />Lot 7, Jack Voss Horse Country Club, Grand Island, Hall County,
<br />Nebraska,
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements and buildings of
<br />any kind situated thereon and all personal property that may be or hereafter
<br />become an integral part of such buildings and improvements, all crops raised
<br />thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the
<br />Trustee are referred to collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of
<br />$120,000.00, with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note ") with a maturity date of January 14, 2018, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and
<br />which by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and
<br />b. Payment of all stars advanced by Beneficiary to protect the Trust
<br />Estate, with interest thereon at the rate of 69 per annum, and
<br />C. The performance of Trustor's covenants and agreements, including
<br />without limitation, obligation to build garage stated in contract.
<br />This Deed of Trust, the Note, and any other instrument given to
<br />evidence or further secure the payment and performance of any obligation secured
<br />hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the
<br />principal of, and the interest on, the indebtedness evidenced by the Note,
<br />charges, fees and all other sums as provided in the Loan Instruments- As stated
<br />in the Note Trustor shall have no right of prepayment.
<br />2.
<br />TAXES AND ASSESSMENTS.
<br />Trustor
<br />shall
<br />pay all
<br />taxes and
<br />f7
<br />of every kind, now or
<br />hereafter
<br />levied
<br />against
<br />the Trust
<br />Estate or
<br />any
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<br />notice or
<br />demand
<br />as each
<br />installment
<br />D
<br />and
<br />shall provide the Beneficiary
<br />with evidence of
<br />the payment
<br />of the
<br />same.
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<br />DEED
<br />OF
<br />TRUST
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<br />THIS DEED OF TRUST, is made as of the 14th day March, 2003, by and �J
<br />among, Mick Brown and Lori Brown, husband and wife, jointly & severally \�
<br />( "'Trustor "), whose mailing address is 2807 N. Engelman Road, Grand Island, BE
<br />68803; Gary D. Byrne, a member of the Nebraska State Bar Association,
<br />( "Trustee ") , whose mailing address is P.O. Box 929, North Platte, NE 69103 -0929
<br />and Jack Voss and Wilma Voss, husband and wife, as joint tenants with rights of
<br />survivorship, ( "Beneficiary "), whose mailing address is 2825 N. Fogleman Road,
<br />Grand Island, NE 68801.
<br />FOR VALUABLE CONSIDERATION, Truster irrevocably transfers, conveys
<br />and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Beneficiary, under and subject to the terms and conditions of this
<br />Deed of Trust, the real property located in the County of Hall, State of
<br />Nebraska, and legally described as follows (the "Property ");
<br />Lot 7, Jack Voss Horse Country Club, Grand Island, Hall County,
<br />Nebraska,
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements and buildings of
<br />any kind situated thereon and all personal property that may be or hereafter
<br />become an integral part of such buildings and improvements, all crops raised
<br />thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the
<br />Trustee are referred to collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of
<br />$120,000.00, with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note ") with a maturity date of January 14, 2018, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and
<br />which by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and
<br />b. Payment of all stars advanced by Beneficiary to protect the Trust
<br />Estate, with interest thereon at the rate of 69 per annum, and
<br />C. The performance of Trustor's covenants and agreements, including
<br />without limitation, obligation to build garage stated in contract.
<br />This Deed of Trust, the Note, and any other instrument given to
<br />evidence or further secure the payment and performance of any obligation secured
<br />hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the
<br />principal of, and the interest on, the indebtedness evidenced by the Note,
<br />charges, fees and all other sums as provided in the Loan Instruments- As stated
<br />in the Note Trustor shall have no right of prepayment.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and
<br />extended coverage insurance insuring the improvements and buildings constituting
<br />part of the Trust Estate for an amount no less than the amount of the unpaid
<br />principal balance of the Note (co- insurance not exceeding 80% permitted) . Such
<br />insurance policy shall contain a standard mortgage clause in favor of Beneficiary
<br />and shall not be cancelable, terminable or modifiable without ten (10) days prior
<br />written notice to Beneficiary. Trustor shall furnish Beneficiary a certificate
<br />of insurance coverage at Beneficiary's request, with a provision in such
<br />certificate that the insurer shall provide Beneficiary ten (10) days advance
<br />notice of any cancellation of the policy at any time for any reason, or of
<br />expiration of policy without renewal thereof. Trustor shall promptly repair,
<br />maintain, and replace the Trust Estate or any part thereof so that, except for
<br />ordinary wear and tear, the Trust Estate shall not deteriorate. In no event
<br />shall the Truster commit waste on or to the Trust Estate.
<br />2.
<br />TAXES AND ASSESSMENTS.
<br />Trustor
<br />shall
<br />pay all
<br />taxes and
<br />special assessments
<br />of every kind, now or
<br />hereafter
<br />levied
<br />against
<br />the Trust
<br />Estate or
<br />any
<br />part thereof directly, without
<br />notice or
<br />demand
<br />as each
<br />installment
<br />comes due
<br />and
<br />shall provide the Beneficiary
<br />with evidence of
<br />the payment
<br />of the
<br />same.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and
<br />extended coverage insurance insuring the improvements and buildings constituting
<br />part of the Trust Estate for an amount no less than the amount of the unpaid
<br />principal balance of the Note (co- insurance not exceeding 80% permitted) . Such
<br />insurance policy shall contain a standard mortgage clause in favor of Beneficiary
<br />and shall not be cancelable, terminable or modifiable without ten (10) days prior
<br />written notice to Beneficiary. Trustor shall furnish Beneficiary a certificate
<br />of insurance coverage at Beneficiary's request, with a provision in such
<br />certificate that the insurer shall provide Beneficiary ten (10) days advance
<br />notice of any cancellation of the policy at any time for any reason, or of
<br />expiration of policy without renewal thereof. Trustor shall promptly repair,
<br />maintain, and replace the Trust Estate or any part thereof so that, except for
<br />ordinary wear and tear, the Trust Estate shall not deteriorate. In no event
<br />shall the Truster commit waste on or to the Trust Estate.
<br />
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