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THIS TRUST DEED made this 17thday of December, 2003, between GERARDOC 4
<br />ZAVALA, a single person, as TRUSTOR, whose address is 3223 E. Seedling Mile Road,
<br />Grand Island, Nebraska 68801; JOHN M. CUNNINGHAM, a member of the Nebraska State\
<br />Bar Association, as TRUSTEE, whose address is 222 N. Cedar St., P.O. Box 2280,
<br />Grand Island, Nebraska 68802; and DAWN M. PEARD, a single person, whose address
<br />is 1043 S. Locust St., Grand Island, Nebraska 68801, as BENEFICIARY. c
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following- described real property:
<br />The North 310 Feet of Lots Eighteen (18) and Nineteen (19) of Sass
<br />Subdivision located on part of the Northeast Quarter of the Northeast
<br />Quarter (NE1 /4 NE1 /4) of Section Fourteen (14), in Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY
<br />that he is lawfully seized and the owner of the above - described property; that
<br />he has good right and lawful authority to sell and convey said premises and that
<br />said premises are free and clear of all liens and encumbrances, and further, that
<br />TRUSTOR will warrant and defend the title to said premises forever against the
<br />claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTOR herein
<br />contained and the payment of THIRTY -SEVEN THOUSAND FIVE HUNDRED DOLLARS
<br />($37,500.00), the TRUSTOR has executed a Trust Deed Note bearing even date, at
<br />the rate of interest and on the terms and conditions as set forth in such Trust
<br />Deed Note until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Trust Deed Note of even
<br />date, and in any event the entire principal balance due hereunder and any accrued
<br />interest shall be paid on January 17, 2004. All payments due hereunder shall be
<br />paid at the address of the BENEFICIARY as above described, or at such other place
<br />as such BENEFICIARY or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of
<br />which has been provided to each of the parties hereto, and the remainder of each
<br />payment 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 TRUSTOR 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 />TRUSTOR agrees 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 fifteen
<br />(15) days written notice to BENEFICIARY.
<br />E. In the event the TRUSTOR fails or neglects 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
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<br />THIS TRUST DEED made this 17thday of December, 2003, between GERARDOC 4
<br />ZAVALA, a single person, as TRUSTOR, whose address is 3223 E. Seedling Mile Road,
<br />Grand Island, Nebraska 68801; JOHN M. CUNNINGHAM, a member of the Nebraska State\
<br />Bar Association, as TRUSTEE, whose address is 222 N. Cedar St., P.O. Box 2280,
<br />Grand Island, Nebraska 68802; and DAWN M. PEARD, a single person, whose address
<br />is 1043 S. Locust St., Grand Island, Nebraska 68801, as BENEFICIARY. c
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following- described real property:
<br />The North 310 Feet of Lots Eighteen (18) and Nineteen (19) of Sass
<br />Subdivision located on part of the Northeast Quarter of the Northeast
<br />Quarter (NE1 /4 NE1 /4) of Section Fourteen (14), in Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY
<br />that he is lawfully seized and the owner of the above - described property; that
<br />he has good right and lawful authority to sell and convey said premises and that
<br />said premises are free and clear of all liens and encumbrances, and further, that
<br />TRUSTOR will warrant and defend the title to said premises forever against the
<br />claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTOR herein
<br />contained and the payment of THIRTY -SEVEN THOUSAND FIVE HUNDRED DOLLARS
<br />($37,500.00), the TRUSTOR has executed a Trust Deed Note bearing even date, at
<br />the rate of interest and on the terms and conditions as set forth in such Trust
<br />Deed Note until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Trust Deed Note of even
<br />date, and in any event the entire principal balance due hereunder and any accrued
<br />interest shall be paid on January 17, 2004. All payments due hereunder shall be
<br />paid at the address of the BENEFICIARY as above described, or at such other place
<br />as such BENEFICIARY or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of
<br />which has been provided to each of the parties hereto, and the remainder of each
<br />payment 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 TRUSTOR 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 />TRUSTOR agrees 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 fifteen
<br />(15) days written notice to BENEFICIARY.
<br />E. In the event the TRUSTOR fails or neglects 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
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