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<br />DEED OF TRUST
<br />This DEED OF TRUST is made as of the 23" day of August, 2002 by and among the Trustor, Kevin G.
<br />Pfeifer and Cindy K. Pfeifer, Husband and Wife, whose mailing address for proposes of this Deed of Trust is 312
<br />North Elio Suite 115 Grand Island, NE 68803 (herein, 'Trustor ", whether one or more), the Trustee, AREND R, b
<br />BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is P.O.
<br />Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NI,
<br />68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Kevin
<br />G. Pfeifer and Cindy K. Pfeifer (herein "Borrower ", whether one or more), and the trust herein created, the receipt
<br />of which is hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and
<br />conditions hereinafter set forth, legally described as follows:
<br />LOTS ONE (1), TWO (2) AND THREE (3), BLOCK SIXTY (60), ORIGINAL TOWN, NOW
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited t(,, heating unit cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declined to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a Deed of
<br />Trust Note dated August 23, 2002, having a maturity date of September 1, 2017, in the original principal amount of
<br />One I Iundred Sixty Five Thousand and 00 /100 Dollars ($165,000.00), and any and all modifications, extensions and
<br />renewals thereof or thereto and any and all future advances and re- advances to Borrower ((it any of them if more
<br />than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the
<br />payment of other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants
<br />and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower
<br />(or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br />note, guaranty, overdraft or otherwise. the Note, this Deed of Trust and any and all other documents that secure the
<br />Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements
<br />and assignments of leases and rents, shall he referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />I _ Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contractor other obligation to which Trustor is subject.
<br />3. 'faxes, Assessments. To pay before delinquent all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. 'fo keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lcnder may require in amounts and with companies acceptable to
<br />Leader, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
<br />may determine, (it) to the 'frustor to be used for the repair or restoration of the Property , or (iii) for any other
<br />purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
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