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a. Payment of indebtedness in the total principal amount of
<br />$45,000.00, with interest thereon, as evidenced by that certain promissory
<br />note of even date (the "Note ") with a maturity date of April 12, 2002,
<br />executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof, and any
<br />and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the
<br />Trust Estate, with interest thereon at the rate of 8W per annum, and
<br />C. The performance of Trustor's covenants and agreements.
<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
<br />secured 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
<br />the 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.
<br />1. TAXES AND ASSESSMENTS. Trustor shall pay all taxers
<br />and special assessments of every kind, now or hereafter levied against the
<br />Trust Estate or any part thereof directly, without notice or demand as each
<br />installment comes due and shall provide the Beneficiary with evidence of the
<br />payment of the same.
<br />1. INSURANCE AND REPAIRS. Trustor shall maintain fire
<br />and extended coverage insurance insuring the improvements and buildings
<br />constituting part of the Trust Estate for an amount no less than the amount of
<br />the unpaid principal balance of the Note (co- insurance not exceeding 80%
<br />permitted). Such insurance policy shall contain a standard mortgage clause in
<br />favor of Beneficiary and shall not be cancelable, terminable or modifiable
<br />without ten (10) days prior written notice to Beneficiary. Trustor shall
<br />furnish Beneficiary a certificate of insurance coverage at Beneficiary's
<br />request, with a provision in such certificate that the insurer shall provide
<br />Beneficiary ten (10) days advance notice of any cancellation of the policy at
<br />any time for any reason, or of expiration of policy without renewal thereof:.
<br />Trustor shall promptly repair, maintain, and replace the Trust Estate or any
<br />part thereof so that, except for ordinary wear and tear, the Trust Estate
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<br />D SD OF TRUST cn
<br />THIS DEED OF TRUST, is made as of the 12th day of February, 2002,
<br />by and among, Russell Roach, a single person, and Teresa Spotanski and Mark
<br />Spotanski, wife and husband, ( "Trustor "), whose mailing address is Rural Route
<br />1, Box 64, Hazard, NE 68844; James R. McClymont, a member of the Nebraska
<br />State Bar Association, ( "Trustee "), whose mailing address is P.O. Box 1669,
<br />North Platte, NE 69103 -1669 and Gary D. Byrne, ( "Beneficiary "), whose mailing
<br />address is P.O. Box 929, North Platte, NE 69103 -0929.
<br />FOR VALUABLE CONSIDERATION, Trustor 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 />See attached Exhibit "A ".
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements and buildings
<br />of any kind situated thereon and all personal property that may be or
<br />hereafter become an integral part of such buildings and improvements, all
<br />crops raised 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 />$45,000.00, with interest thereon, as evidenced by that certain promissory
<br />note of even date (the "Note ") with a maturity date of April 12, 2002,
<br />executed by Trustor, which has been delivered and is payable to the order of
<br />Beneficiary, and which by this reference is hereby made a part hereof, and any
<br />and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the
<br />Trust Estate, with interest thereon at the rate of 8W per annum, and
<br />C. The performance of Trustor's covenants and agreements.
<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
<br />secured 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
<br />the 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.
<br />1. TAXES AND ASSESSMENTS. Trustor shall pay all taxers
<br />and special assessments of every kind, now or hereafter levied against the
<br />Trust Estate or any part thereof directly, without notice or demand as each
<br />installment comes due and shall provide the Beneficiary with evidence of the
<br />payment of the same.
<br />1. INSURANCE AND REPAIRS. Trustor shall maintain fire
<br />and extended coverage insurance insuring the improvements and buildings
<br />constituting part of the Trust Estate for an amount no less than the amount of
<br />the unpaid principal balance of the Note (co- insurance not exceeding 80%
<br />permitted). Such insurance policy shall contain a standard mortgage clause in
<br />favor of Beneficiary and shall not be cancelable, terminable or modifiable
<br />without ten (10) days prior written notice to Beneficiary. Trustor shall
<br />furnish Beneficiary a certificate of insurance coverage at Beneficiary's
<br />request, with a provision in such certificate that the insurer shall provide
<br />Beneficiary ten (10) days advance notice of any cancellation of the policy at
<br />any time for any reason, or of expiration of policy without renewal thereof:.
<br />Trustor shall promptly repair, maintain, and replace the Trust Estate or any
<br />part thereof so that, except for ordinary wear and tear, the Trust Estate
<br />
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