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<br />
<br />DEED OF TRUST
<br />
<br />..,
<br />,,10..5.-('>
<br />
<br />THIS DEED OF TRUST is made this ~~ay ofGiohf>r ,2005, by and among
<br />DOUGLAS C. JONES and MICHELLE L. JONES, husband and wife, herein referred to as
<br />"Trustor", whose mailing address is 2537 W. Lepin Road, Doniphan, Nebraska 68832;
<br />BRUCE I. SMITH, Attorney-at-Law, hereinafter referred to as "Trustee", whose mailing address
<br />is P. O. Box 790, Grand Island, Nebraska 68802; and GERALD S. JONES, TRUSTEE OF THE
<br />GERALD S. JONES REVOCABLE LIVING TRUST AGREEMENT DATED FEBRUARY 1,
<br />2003, AS AMENDED, hereinafter referred to as "Beneficiary", whose mailing address is 429
<br />Renee Road, Doniphan, Nebraska 688832.
<br />
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to
<br />Trustee, in trust, with power of sale, for the benefit and security of Beneficiary, under and sub-
<br />ject to the terms and conditions of this Deed of Trust, the Trustor's interest in the following-
<br />described property located in Hall County, Nebraska, to-wit:
<br />
<br />Lot One (1) Phoenix Acres Subdivision, Hall County, Nebraska
<br />
<br />together with all improvements, fixtures and appurtenances located thereon or in any way per-
<br />taining thereto, and the rents, issues, profits, reversions and the remainders thereof, including all
<br />such personal property that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the real
<br />estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by Trustor's note of
<br />even date herewith in the principal sum of EIGHTY THOUSAND AND
<br />NOll 00 DOLLARS ($80,000.00), together with interest at the rate
<br />provided therein, or the principal and interest on any future advance not to
<br />exceed the total principal sum initially secured hereby as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renew-
<br />als, modifications and extensions of such notes, both principal and interest
<br />on the notes being payable in accordance with the terms set forth therein,
<br />which by this reference is hereby made a part hereof;
<br />
<br />(b) the performance of each agreement and covenant of Trustor
<br />herein contained; and
<br />
<br />(c) the payment of any sum or sums of money which may be
<br />hereafter paid or advanced by Beneficiary under the terms of this Deed of
<br />Trust, together with interest thereon at the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as
<br />follows:
<br />
<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on,
<br />the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />
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