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24020 ,,33
<br />DEED OF TRUST
<br />This Deed of Trust, made this 8th day of July, 2002, by and among Jeffrey J.
<br />Reed and Christine J. Reed, husband and wife, whose mailing address is 2020
<br />Riverside Drive, Grand Island, Nebraska 68803, (herein Trustor whether one or more);
<br />and Anderson, Creager & Wittsruck, P.C., whose mailing address is K Street, Lincoln,
<br />NE 68508, (herein Trustee, whether one or more); and Jonadyne A. Carpenter, whose
<br />mailing address is 1811 Stolley Park Circle, Grand Island, Nebraska, (herein
<br />Beneficiary, whether one or more.)
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably grants, transfers,
<br />conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit
<br />and security of Beneficiary, under and subject to the terms and conditions of this Deed
<br />of Trust, all of Trustor's interest therein identified as an undivided one half interest of
<br />the following described real property, located in Hall County, Nebraska:
<br />2514 South Locust, Grand Island, Nebraska having a legal description of:
<br />S 98' of Lot 23 and N 12' of Lot 24, Holcomb Highway Homes
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived
<br />from the real property; all leases or subleases covering the real property or any portion
<br />thereof, now or hereafter existing or entered into, and all right, title and interest of
<br />Trustor thereunder; all interests, estate or other claims, both in law and in equity, which
<br />Trustor now has or may hereafter acquire in the real property; all easements, rights -of-
<br />way, tenements, hereditaments and appurtenances thereof and thereto; all oil and gas
<br />rights and profits, water rights and water stock; all right, title and interest of Trustor,
<br />now owned or hereafter acquired, in and to any land lying within the right -of -way of any
<br />street or highway adjoining the real property; any and all buildings, fixtures,
<br />improvements, and appurtenances now or hereafter erected thereon or belonging
<br />thereto, (herein referred to as "Improvement" or "Improvements "); and any and all
<br />awards made for the taking by eminent domain, or by any proceeding or purchase in
<br />lieu thereof, of the whole or any part of the real property. All of the foregoing estate,
<br />property and interest conveyed to Trustee herein collectively referred to as the
<br />"Property ".
<br />FOR THE PURPOSE OF SECURING:
<br />(a) The payment of indebtedness evidenced by Trustor's note of even date
<br />herewith in the principal sum of $175,000.00 together with interest at the rate or rates
<br />provided therein, or the principal and interest on any future advances evidenced by
<br />promissory notes stating they are secured hereby, (herein "Note" or "Notes ") and any
<br />and all renewals, modifications and extensions of such Note, both principal and interest
<br />on the Note being payable in accordance with the terms set forth therein, reference to
<br />which is hereby made.
<br />(b) The performance of each agreement and covenant of Trustor herein
<br />contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which may
<br />be hereafter paid or advanced under the terms of this Deed of Trust.
<br />A. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR
<br />HEREBY COVENANTS AND AGREES AS FOLLOWS:
<br />1. Payment of Principal and Interest. Trustor shall promptly pay when due the
<br />principal of and interest on the indebtedness evidenced by the Note, and all other
<br />charges and fees as provided in the Note, and the principal of and interest on any
<br />Future Advances secured by this Deed of Trust.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and
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