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<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that the Borrowers are about to execute is a Deed of Q
<br />Trust and not a mortgage and that the power of sale provided for in the Deed of Trust provides substantially
<br />different rights and obligations to the borrowers than a mortgage in the event of a default or breach of obligation
<br />under the Deed of Trust, including, but not limited to, the Lender's right to have the Real Property sold by the
<br />Trustee without any judicial proceeding or foreclosure. Borrowers represent and warrant that this
<br />acknowledgment was executed by them before the execution of the Deed of Trust.
<br />By :
<br />KENT ORR, Borrower
<br />DEED OF TRUST
<br />WITH POWER OF SALE
<br />THIS DEED OF TRUST is made on this 14 day of July, 2003. The Trustor is Kent Orr.
<br />The Trustee is Gregory M. Neuhaus, Attorney At Law. The Beneficiary is Monte Orr. The Beneficiary's
<br />address is HC 56 Box 55, Hay Springs, Nebraska. Trustor irrevocably conveys to Trustee, in Trust, with
<br />power of sale, the following:
<br />Lot One Hundred Thirty-One (131) in Buenavista Subdivision, An Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<br />Together with all the rents and profits therefrom and subject to easements and restrictions of
<br />record, if any.
<br />Trustor owes Beneficiary Sixty -Three Thousand Dollars ($63,000), evidenced by Trustor's note
<br />of even date, payable to the terms thereof.
<br />This Security Instrument secures to Beneficiary the Debt evidenced by said note, the payment of
<br />all other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performancy of Trustor's covenants and agreements.
<br />Trustor covenants that Trustor is lawfully seised by such real estate and has the legal power and
<br />lawful authority to convey the same and warrants and will defend title to the real estate against the lawful
<br />claims of all persons.
<br />TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS:
<br />1. Trustor shall pay when due, the principal and interest as provided in said note.
<br />2. All payments received by Beneficiary shall be first applied to advances, which may have
<br />been made by Beneficiary and then to interest due and last to principle due.
<br />3. Trustor shall pay all general real estate taxes and special assessments against the property
<br />before the same become delinquent.
<br />4. If Beneficiary determines that any part of the property is subject to a lien, other than to
<br />Equitable Building and Loan, which is or may attain priority over this security instrument, Beneficiary
<br />may give Trustor a notice identifying the lien and Trustor shall satisfy the lien within ten (10) days.
<br />5. Buyer shall keep the improvements on said premises insured against loss by fire and
<br />hazards included within the term "extended coverage" for their insurable value and policies for the same
<br />shall include a standard mortgage clause showing Beneficiary herein. In event of loss, Beneficiary may
<br />make proof of loss if not promptly made by Trustor. Insurance proceeds shall be applied to restoration or
<br />repair of the property damaged, unless both parties otherwise agree, except if proceeds shall be paid on
<br />the debt herein, whether or not then due.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any payments or proceeds from
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said note, or
<br />change the amount of the payments.
<br />6. If Trustor fails to perform the covenants and agreements herein contained, Beneficiary
<br />may do and pay for whatever is necessary to protect the value of the property and Beneficiary's rights in
<br />the property, including the paying of any sum secured by a lien which has priority over this security
<br />instrument, appearing in court, paying reasonable attorney fees and entering the property to make repairs.
<br />Any amount disbursed by Beneficiary under this paragraph shall become an additional debt of Trustor
<br />secured by this security instrument, to bear interest from the date of disbursement and said amount,
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<br />ACKNOWLEDGMENT OF DEED OF TRUST
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<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that the Borrowers are about to execute is a Deed of Q
<br />Trust and not a mortgage and that the power of sale provided for in the Deed of Trust provides substantially
<br />different rights and obligations to the borrowers than a mortgage in the event of a default or breach of obligation
<br />under the Deed of Trust, including, but not limited to, the Lender's right to have the Real Property sold by the
<br />Trustee without any judicial proceeding or foreclosure. Borrowers represent and warrant that this
<br />acknowledgment was executed by them before the execution of the Deed of Trust.
<br />By :
<br />KENT ORR, Borrower
<br />DEED OF TRUST
<br />WITH POWER OF SALE
<br />THIS DEED OF TRUST is made on this 14 day of July, 2003. The Trustor is Kent Orr.
<br />The Trustee is Gregory M. Neuhaus, Attorney At Law. The Beneficiary is Monte Orr. The Beneficiary's
<br />address is HC 56 Box 55, Hay Springs, Nebraska. Trustor irrevocably conveys to Trustee, in Trust, with
<br />power of sale, the following:
<br />Lot One Hundred Thirty-One (131) in Buenavista Subdivision, An Addition to the City
<br />of Grand Island, Hall County, Nebraska.
<br />Together with all the rents and profits therefrom and subject to easements and restrictions of
<br />record, if any.
<br />Trustor owes Beneficiary Sixty -Three Thousand Dollars ($63,000), evidenced by Trustor's note
<br />of even date, payable to the terms thereof.
<br />This Security Instrument secures to Beneficiary the Debt evidenced by said note, the payment of
<br />all other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performancy of Trustor's covenants and agreements.
<br />Trustor covenants that Trustor is lawfully seised by such real estate and has the legal power and
<br />lawful authority to convey the same and warrants and will defend title to the real estate against the lawful
<br />claims of all persons.
<br />TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS:
<br />1. Trustor shall pay when due, the principal and interest as provided in said note.
<br />2. All payments received by Beneficiary shall be first applied to advances, which may have
<br />been made by Beneficiary and then to interest due and last to principle due.
<br />3. Trustor shall pay all general real estate taxes and special assessments against the property
<br />before the same become delinquent.
<br />4. If Beneficiary determines that any part of the property is subject to a lien, other than to
<br />Equitable Building and Loan, which is or may attain priority over this security instrument, Beneficiary
<br />may give Trustor a notice identifying the lien and Trustor shall satisfy the lien within ten (10) days.
<br />5. Buyer shall keep the improvements on said premises insured against loss by fire and
<br />hazards included within the term "extended coverage" for their insurable value and policies for the same
<br />shall include a standard mortgage clause showing Beneficiary herein. In event of loss, Beneficiary may
<br />make proof of loss if not promptly made by Trustor. Insurance proceeds shall be applied to restoration or
<br />repair of the property damaged, unless both parties otherwise agree, except if proceeds shall be paid on
<br />the debt herein, whether or not then due.
<br />Unless Beneficiary and Trustor otherwise agree in writing, any payments or proceeds from
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said note, or
<br />change the amount of the payments.
<br />6. If Trustor fails to perform the covenants and agreements herein contained, Beneficiary
<br />may do and pay for whatever is necessary to protect the value of the property and Beneficiary's rights in
<br />the property, including the paying of any sum secured by a lien which has priority over this security
<br />instrument, appearing in court, paying reasonable attorney fees and entering the property to make repairs.
<br />Any amount disbursed by Beneficiary under this paragraph shall become an additional debt of Trustor
<br />secured by this security instrument, to bear interest from the date of disbursement and said amount,
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