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200309555
<br />DEED OF TRUST
<br />THIS DEED OF TRUST, is made as of the A day of -(.LL , 2003, by
<br />and among J. O. Enterprises, Inc. a Nebraska Corporation ( "Trustor"), ose mailing
<br />address is 120 West 4t" Street, Grand Island, Nebraska 68801, and Old Republic National
<br />Title Insurance Company, Inc ( "Trustee "), and Randall L. Spiehs and Lynn M. Spiehs,
<br />Husband and wife ( "Beneficiary") whose mailing address is 1031 N Howard Ave., Grand
<br />Island, Nebraska.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the real
<br />property, located in the city of Grand Island, County of Hall, State of Nebraska, and
<br />described as follows (the "Property "):
<br />The West 22 feet of Lot 6, Block 31, Original Town of Grand Island,
<br />Hall County, Nebraska
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests
<br />in adjoining roads, streets, and alleys, improvements and buildings of any kind situated
<br />thereon and all personal property that may be or hereafter become an integral part of such
<br />buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred
<br />to collectively as the "Trust Estate ".
<br />THIS DEED OF TRUST IS FOR THE PURPOSE OF SECURING:
<br />A. Payment of indebtedness in the total principal amount of Seventy Thousand
<br />Dollars ($70,000.00), with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note ") with a maturity date of July 10, 2013, executed by Trustor, which
<br />has been delivered and is payable to the order of Beneficiary, and which by this reference
<br />is hereby made a part hereof, and any and all modifications, extensions and renewals
<br />thereof, and
<br />B. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with
<br />interest thereon at the rate of seven percent (7 %) per annum.
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