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<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made on July 22, 2005. The Trustor is David Manfull and Jean
<br />Manfull, husband and wife, whose address is 11749 West Platte River Drive, Wood River,
<br />Nebraska 68883. The Trustee is Kevin A. Brostrom, an attorney licensed in the State of Nebraska,
<br />whose address is P.O. Box 400, Grand Island, Nebraska 68802 ( "Trustee "). The beneficiary is
<br />n ..
<br />Debra L. VanMeter - Heimbuch, Trustee of VanMeter Descendants Trust, 209 South Maple, North
<br />Platte, Nebraska 69101 ( "Lender "). Borrower owes Lender the principal sum of One Hundred Ten
<br />Thousand Four Hundred Dollars and No Cents ($110,400.00). This debt is evidenced by
<br />Borrower's' note dated the same date as this Security Instrument ( "Note "), which provides for
<br />interest at the rate of eight and one -half percent (8.5 %), with a balloon payment being paid on or
<br />before July 22, 2008. The Security Instrument secures to Lender: (a) the repayment of the debt
<br />evidenced by the Note and all renewals, extensions and modifications; (b) the payment of all other
<br />sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument;
<br />and (c) the performance of Borrower's' covenants and agreements. For this purpose, 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), VanMeter /Manful) Subdivision, Hall 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
<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 seized 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 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.
<br />3. Application of Payments. All payments received by Lender under paragraph 1 shall
<br />be applied: first, to late charges due under the Note, if any; second, to prepayment charges due
<br />under the Note, if any, 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.
<br />Borrower shall promptly discharge any lien which has priority over this Security
<br />Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the
<br />lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defend against
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