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<br />TRUST DEED
<br />THIS DEED OF TRUST is made on JuneZff, 2005. The Trustors is A.G.I., L.L.C., a limited°
<br />liability company whose address is 3540 Graham Avenue, Grand Island, Nebraska 68803. The N
<br />Trustee is Kevin A. Brostrom, an attorney licensed in the State of Nebraska, whose address is P.O.
<br />Box 400, Grand Island, Nebraska 68802( "Trustee "). The Beneficiary is Tim C. Plate whose
<br />address is 1824 West Second Street, Grand Island, Nebraska 68803 ( "Lender "). Borrower owes
<br />Lender the principal sum of Three Hundred Fifty Thousand Dollars ($350,000.00). This debt is
<br />evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which
<br />provides for monthly payments, with an interest rate of seven percent (7 %) per annum. The
<br />Security Instrument secures to Lender; (a) the repayment of the debt evidenced by the Note, with
<br />interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with
<br />interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the
<br />performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably
<br />grants and conveys to Trustee, in trust, with power of sale, the following described property located
<br />in Hall County, Nebraska:
<br />Lot One (1), Block One (1), Nelsen Second Subdivision, Hall County,
<br />Nebraska excepting therefrom a tract of land conveyed to the State of
<br />Nebraska by Quitclaim Deed recorded as Document No. 85- 000078.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafter a part of the property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property ".
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
<br />and has the right to grant and convey the Property and that the Property is unencumbered, except
<br />for encumbrances of record. Borrower warrants and will defend generally the title to the Property
<br />against all claims and demands, subject to any encumbrances of record.
<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall
<br />promptly pay when due the principal of and interest on the debt evidenced by the Note and any
<br />prepayment and late charges due under the Note.
<br />2. Funds for Taxes and Insurance. Borrower agrees to pay for all real estate taxes and
<br />insurance as they become due and sending the receipts to Beneficiary to inform Beneficiary of
<br />prompt payment of such real estate taxes and insurance.
<br />3. Application of Payments. All payments received by Lender under paragraph 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the
<br />Note; third, to interest due; and, last, to principal due.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and
<br />impositions attributable to the Property which may attain priority over this Security Instrument.
<br />Borrower shall pay them on time directly to the person owed payment. When Borrower makes
<br />these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the
<br />payments.
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