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<br />McQuillan, a member of the Nebraska State Bar Association ( "Trustee "), whose
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<br />whose mailing address is 2323 West Koenig, Grand
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<br />Island, NE 68802.
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<br />and assigns to Trustee,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and
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<br />under and subject to the terms and conditions of this
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<br />Deed of Trust, the real property located in the City of Grand Island, County of
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<br />Hall, State of Nebraska,
<br />and legally described as follows (the "Property "):
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<br />Lot 1, Block
<br />10, Ashton Place Addition, City of Grand Island, Hall
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<br />County, Nebraska.
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<br />DEED
<br />OF TRUST
<br />200505430
<br />THIS DEED OF TRUST, is made as of the 1st day of June, 2005, by and
<br />among, 1031 Real Estate Exchanges, Inc., a Nebraska corporation ( "Trustor "),
<br />whose mailing address is P.O. Box 1669, North Platte, NE 69103 - -1669, Michael J.
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<br />McQuillan, a member of the Nebraska State Bar Association ( "Trustee "), whose
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<br />mailing address is P.O.
<br />Box 478, Ogallala, NE 69153 -0478 and Delores Kay
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<br />( "Beneficiary "),
<br />whose mailing address is 2323 West Koenig, Grand
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<br />Island, NE 68802.
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<br />FOR VALUABLE
<br />CONSIDERATION, Trustor irrevocably transfers, conveys
<br />and assigns to Trustee,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Beneficiary,
<br />under and subject to the terms and conditions of this
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<br />Deed of Trust, the real property located in the City of Grand Island, County of
<br />Hall, State of Nebraska,
<br />and legally described as follows (the "Property "):
<br />C01)
<br />Lot 1, Block
<br />10, Ashton Place Addition, City of Grand Island, Hall
<br />0;
<br />County, Nebraska.
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements and buildings of
<br />any kind situated thereon.
<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 />$143,803.75, with interest thereon, as evidenced by that certain promissory
<br />note of even date (the "Note ") with a maturity date of December 1, 2005,
<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; 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 the
<br />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 />2. APPOINTMENT OF SUCCESSOR TRUSTEE. Beneficiary may, from time
<br />to time, by a written instrument executed and acknowledged by Beneficiary,
<br />mailed to Trustor and Recorded in the County in which the Trust Estate is
<br />located and by otherwise complying with the provisions of the applicable law of
<br />the State of Nebraska substitute a successor or successors to the Trustee named
<br />herein or acting hereunder.
<br />3. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to,
<br />inures to the benefit of and binds all parties hereto, their heirs, legatees,
<br />divorcees, personal representatives, successors and assigns. The term
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