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a. Payment of indebtedness in the total principal amount of
<br />$56,550.00, with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note ") with a maturity date of December 1, 2008, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and
<br />which by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust
<br />Estate, with interest thereon at the rate of 7.25% per annum, and
<br />C. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to
<br />evidence or further secure the payment and performance of any obligation secured
<br />hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the
<br />principal of, and the interest on, the indebtedness evidenced by the Note,
<br />charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and
<br />special assessments of every kind, now or hereafter levied against the Trust
<br />Estate or any part thereof to Beneficiary one - twelfth of the real estate taxes
<br />each month and such other assessments as they become due. The one - twelfth
<br />payment shall be adjusted annually as the taxes change and Trustor agrees that
<br />after payment of the taxes each year that any deficiency will be promptly paid
<br />to Beneficiary. Beneficiary agrees to providErustor with receipts showing that
<br />the real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and
<br />extended coverage insurance insuring the improvements and buildings constituting
<br />part of the Trust Estate for an amount no less than 80% of the replacement value
<br />of such improvements or the amount of the unpaid principal balance of the Note
<br />(co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancelable,
<br />terminable or modifiable without ten (10) days prior written notice to
<br />Beneficiary. Trustor shall furnish Beneficiary a certificate of insurance
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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST, is made as of the ltl day November, 2003, by andv
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<br />among, Julio Ramirez and Maria D. Ramirez, husband and wife ( "Trustor "), whose
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<br />mailing address is 618 West 8th Street, Grand Island, NE 68801; Gary D. Byrne,
<br />a member of the Nebraska State Bar Association, ( "Trustee "), whose mailing
<br />address is P.O. Box 929, North Platte, NE 69103 -0929 and Shirley A. Cuba,
<br />( "Beneficiary "), whose mailing address is 9755 Adams Plaza #6 Omaha NE 38280.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys
<br />and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />security of Beneficiary, under and subject to the terms and conditions of this
<br />Deed of Trust, the real property located in the County of Hall, State of
<br />Nebraska, and legally described as follows (the "Property "):
<br />Lot 7, Block 9, in H.G. Clark's Addition to the City of Grand
<br />Island, Hall County, Nebraska.
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments,
<br />interests in adjoining roads, streets and alleys, improvements and buildings of
<br />any kind situated thereon and all personal property that may be or hereafter
<br />become an integral part of such buildings and improvements, all crops raised
<br />thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the
<br />Trustee are referred to collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of
<br />$56,550.00, with interest thereon, as evidenced by that certain promissory note
<br />of even date (the "Note ") with a maturity date of December 1, 2008, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and
<br />which by this reference is hereby made a part hereof, and any and all
<br />modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust
<br />Estate, with interest thereon at the rate of 7.25% per annum, and
<br />C. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to
<br />evidence or further secure the payment and performance of any obligation secured
<br />hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the
<br />principal of, and the interest on, the indebtedness evidenced by the Note,
<br />charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and
<br />special assessments of every kind, now or hereafter levied against the Trust
<br />Estate or any part thereof to Beneficiary one - twelfth of the real estate taxes
<br />each month and such other assessments as they become due. The one - twelfth
<br />payment shall be adjusted annually as the taxes change and Trustor agrees that
<br />after payment of the taxes each year that any deficiency will be promptly paid
<br />to Beneficiary. Beneficiary agrees to providErustor with receipts showing that
<br />the real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and
<br />extended coverage insurance insuring the improvements and buildings constituting
<br />part of the Trust Estate for an amount no less than 80% of the replacement value
<br />of such improvements or the amount of the unpaid principal balance of the Note
<br />(co- insurance not exceeding 80% permitted). Such insurance policy shall contain
<br />a standard mortgage clause in favor of Beneficiary and shall not be cancelable,
<br />terminable or modifiable without ten (10) days prior written notice to
<br />Beneficiary. Trustor shall furnish Beneficiary a certificate of insurance
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