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THIS DEED OF TRUST is made on June ,�L4, 2005. The Trustor is Billie J. Pedersen,
<br />( "Borrower "). The Trustee is Denise D. Myers, attorney at law, ( "Trustee "). The beneficiary is
<br />Lyman Pederson as 'Trustee of The Marian L. Bowers Revocable Living Trust , whose address is
<br />6633 Mount Whitney Dr., Buena Park, CA 90620 ( "Lenders "). Borrower owes Lenders the principal
<br />sum of Eighteen Thousand and 00 /100 Dollars ($18,000.00). This debt is evidenced by Borrowers
<br />note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments,
<br />with a balloon payment after 24 months. The Security Instrument secures to Lenders: (a) the
<br />repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to
<br />protect the security of this Security Instrument; and (c) the performance of Borrowers covenants and
<br />agreements. For this purpose, Borrower irrevocably grants and convey to Trustee, in trust, with
<br />power of sale, the following described property located in Hall County, Nebraska:
<br />Lot Ten (10), Block Six (6), Meves 15` Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<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 rights
<br />and stock and all fixtures now or hereafter a part of the property. All replacements and additions
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument a5 the "Property ".
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
<br />and have 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 Lenders 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. Application of Payments. All payments received by Lenders under paragraphs 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the Note;
<br />third, to interest due; and, last, to principal due.
<br />3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which may attain priority over this Security Instrument, and leasehold
<br />payments or ground rents, if any. Borrower shall pay them on time directly to the person owed
<br />payment. Borrower shall promptly furnish to Lenders all notices of amounts to be paid under this
<br />paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lenders
<br />receipts evidencing the paymcras.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrower: (a) agree in writing to the payment of the obligation secured by the lien in a manner
<br />acceptable to Lenders; (b) contest in good faith the lien by, or defend against enforcement of the lien
<br />in, legal proceedings which in the Lenders' opinion operate to prevent the enforcement of the lien
<br />or forfeiture of any part of the Property; or (c) secure from the holder of the lien an agreement
<br />satisfactory to Lenders subordinating the lien to this Security Instrument. If Lenders determine that
<br />any part of the Property is subject to a lien which may attain priority over this Security Instrument,
<br />Lenders may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one
<br />or more of the actions set forth above within 10 days of the giving of notice.
<br />4. 1lazard Insurance. Borrower shall keep the improvements now existing or hereafter
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<br />TRUST DEED
<br />THIS DEED OF TRUST is made on June ,�L4, 2005. The Trustor is Billie J. Pedersen,
<br />( "Borrower "). The Trustee is Denise D. Myers, attorney at law, ( "Trustee "). The beneficiary is
<br />Lyman Pederson as 'Trustee of The Marian L. Bowers Revocable Living Trust , whose address is
<br />6633 Mount Whitney Dr., Buena Park, CA 90620 ( "Lenders "). Borrower owes Lenders the principal
<br />sum of Eighteen Thousand and 00 /100 Dollars ($18,000.00). This debt is evidenced by Borrowers
<br />note dated the same date as this Security Instrument ( "Note "), which provides for monthly payments,
<br />with a balloon payment after 24 months. The Security Instrument secures to Lenders: (a) the
<br />repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and
<br />modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to
<br />protect the security of this Security Instrument; and (c) the performance of Borrowers covenants and
<br />agreements. For this purpose, Borrower irrevocably grants and convey to Trustee, in trust, with
<br />power of sale, the following described property located in Hall County, Nebraska:
<br />Lot Ten (10), Block Six (6), Meves 15` Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<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 rights
<br />and stock and all fixtures now or hereafter a part of the property. All replacements and additions
<br />shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
<br />Instrument a5 the "Property ".
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
<br />and have 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 Lenders 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. Application of Payments. All payments received by Lenders under paragraphs 1 shall be
<br />applied: first, to late charges due under the Note; second, to prepayment charges due under the Note;
<br />third, to interest due; and, last, to principal due.
<br />3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which may attain priority over this Security Instrument, and leasehold
<br />payments or ground rents, if any. Borrower shall pay them on time directly to the person owed
<br />payment. Borrower shall promptly furnish to Lenders all notices of amounts to be paid under this
<br />paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lenders
<br />receipts evidencing the paymcras.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrower: (a) agree in writing to the payment of the obligation secured by the lien in a manner
<br />acceptable to Lenders; (b) contest in good faith the lien by, or defend against enforcement of the lien
<br />in, legal proceedings which in the Lenders' opinion operate to prevent the enforcement of the lien
<br />or forfeiture of any part of the Property; or (c) secure from the holder of the lien an agreement
<br />satisfactory to Lenders subordinating the lien to this Security Instrument. If Lenders determine that
<br />any part of the Property is subject to a lien which may attain priority over this Security Instrument,
<br />Lenders may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one
<br />or more of the actions set forth above within 10 days of the giving of notice.
<br />4. 1lazard Insurance. Borrower shall keep the improvements now existing or hereafter
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