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<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is made as of the 1 st day of December, 2005, by and among EDDY E.
<br />OLIVARES and BLANCA L. MENDEZ, Husband and Wife, ("TRUSTORS"), whose mailing address is:
<br />625 East 12th Street, Grand Island, Nebraska 68801 and DUANE A. BURNS, Attorney at Law,
<br />("TRUSTEE"), whose mailing address is: P. O. Box 2300, Grand Island, Nebraska 68802 and GRAND
<br />ISLAND AREA HABITAT FOR HUMANITY, INC., a Nebraska Corporation, ("BENEFICIARY"), whose
<br />mailing address is: P. O. Box 1001, Grand Island, Nebraska 68802.
<br />
<br />FOR VALUABLE CONSIDERATION, Trustors irrevocably transfers, conveys, and assigns to
<br />Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the real property located in the County of Hall,
<br />State of Nebraska, and legally described as follows: (the "Property"):
<br />
<br />Lot Four (4), Backer Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />(625 East 12th Street, Grand Island, Nebraska).
<br />
<br />TOGETHER WITH all rents, easements, appurtenances, hereditaments, interests in adjoining
<br />roads, streets and alleys, improvements and buildings of any kind situated thereon and all personal
<br />property that may be or hereafter become an integral part of such buildings and improvements.
<br />
<br />The property and the entire estate and interest conveyed to the Trustee are referred to collectively
<br />as the "Trust Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness in the total principal amount of $12,555.00 with no interest thereon,
<br />as evidenced by the certain Promissory Note of even date (the "Note") with a maturity date on demand of
<br />the Beneficiary, executed by Trustors which has been delivered and is payable to the order of Beneficiary,
<br />and which by this reference is hereby made a part hereof, and any and all modifications, extensions and
<br />renewals thereof, and,
<br />
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with no interest
<br />thereon.
<br />
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the
<br />payment and performance of any obligation secured hereby are referred to collectively as the "Loan
<br />Instruments",
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />1. PAYMENT OF INIJFRTFIJNESS Trustors shall pay when due the principal of, and the
<br />interest on, the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the
<br />Loan Instruments,
<br />
<br />2. TAXES Trustors shall pay each installment of all taxes and special assessments of every
<br />kind, now or hereafter levied against the Trust Estate or any part hereof, before delinquency, without
<br />notice or demand, and shall provide Beneficiary with evidence of the payment of same. Trustors shall pay
<br />all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of
<br />Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the
<br />whole or any part thereof upon the Beneficiary.
<br />
<br />3. INSURANCE AND REPAIRS Trustors shall maintain fire and extended coverage insurance
<br />insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than
<br />the amount of the unpaid principal balance of the Note (co-insurance not exceeding 80% permitted).
<br />Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be
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