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<br />200313840 DEED OF TRUST
<br />THIS TRUST DEED made this /V day of October, 2003, between HUGO FRAGOZA
<br />and MaELENA FRAGOZA, husband and wife, as TRUSTORS, whose address is 122 North
<br />Grace, Grand Island, Nebraska, 68803; JOHN M. CUNNINGHAM, a member of the
<br />Nebraska State Bar Association, as TRUSTEE, whose address is 222 North Cedar,
<br />Grand Island, Nebraska 68801; and VELMA PRIMROSE, a single person, whose address
<br />is 710 West Eighth, Grand Island, Nebraska, 68801, as BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his heirs, devisees, personal representatives, successors and assigns,
<br />with power of sale, the following- described real property:
<br />Lots Two (2) and Three (3), in Block Thirty -nine (39), in Packer &
<br />Barr's Second Addition to the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of FORTY -FOUR THOUSAND DOLLARS ($44,000.00), the
<br />TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on August 1, 2013. All payments due hereunder shall be paid at the
<br />address of the BENEFICIARY as above described, or at such other place as such
<br />BENEFICIARY or the holders of said security shall designate in writing. All
<br />installment payments hereunder shall be applied first to the payment of interest
<br />on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has
<br />been provided to each of the parties hereto, and the remainder of each payment
<br />of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARY copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARY, in an
<br />amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARY as additional insured, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARY with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier without ten
<br />(10) days written notice to BENEFICIARY.
<br />E. In the event the TRUSTORS fail or neglect to pay taxes and procure
<br />casualty insurance, all as above set forth, then BENEFICIARY may pay such
<br />taxes and procure such insurance, and all sums expended and advanced by
<br />BENEFICIARY and TRUSTEE in accordance with the provisions contained herein
<br />are secured hereby and, without demand, shall be immediately due and
<br />payable by the TRUSTORS and shall bear interest at the rate of six percent
<br />(6%) per annum until paid; provided however, that at the option of the
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