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<br />DEED OF TRUST
<br />(Short Form)
<br />
<br />200512107
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that GRAND ISLAND MUSIC,
<br />INC., A NEBRASKA CORPORATION, hereinafter referred to as the "Trustor", to
<br />secure a Note bearing even date herewith for the principal amount of FORTY TWO
<br />THOUSAND. EIGHT HUNDRED SIXTY and 83/1 00 Dollars ($42,860.83) payable to the
<br />order of AXIS CAPITAL, INC., hereinafter referred to as the "Beneficiary", providing for the
<br />payment of the entire principal balance, together with interest, in monthly installments of NINE
<br />HUNDRED SIXTY ONE ANS 94/100 Dollars ($961.94) each until DECEMBER. 2010, at
<br />which time all principal and interest provided for by this Note shall have been paid, do hereby
<br />grant and convey unto AREND R. BAACK, Attorney at Law, the "Trustee", the following-
<br />described property:
<br />
<br />DESERT ROSE SUB., PART LOT 1 XC CITY AS RECORDED IN DOCUMENT #200007698
<br />AT HALL COUNTY REGISTER OF DEEDS
<br />
<br />TO HAVE AND TO HOLD the same, together with all appurtenances, in trust
<br />nevertheless, and in case of default in the payment of said Note or any part thereof or interest
<br />thereon or in the performance of any covenant hereinafter set fourth, then the Trustee shall have
<br />the power to sell the above-described property, and upon request of the Beneficiary, the Trustee
<br />shall file for record in the Register of Deeds' Office of HALL County, Nebraska, a Notice of
<br />Default, setting forth that a breach of an obligation, for which the said property was conveyed as
<br />security, has occurred, and setting forth the nature of such breach and the Trustee's election to
<br />sell the property to satisfy the obligation; and after the lapse of not less than on (1) month, the
<br />Trustee shall give written notice of the time and place of sale which may be between 9:00 a.m.
<br />and 5:00 p.m. at the premises, or at the HALL County, Nebraska, once a week for five (5)
<br />consecutive weeks, the last publication to be at least ten (10) days but not more than thirty (30)
<br />days prior to the sale; and the Trustee shall then sell said property at the time and place
<br />designated in the Notice, in the manner provided by law in effect at the time of filing said Notice,
<br />and public auction to the highest bidder for cash and shall deliver to such purchaser a deed to the
<br />property sold, consistent with the law in effect at that time. Additionally, Trustee shall mail
<br />Trustor a copy of any Notice of Default and Notice of Sale hereunder upon default addressed to
<br />them at 3117 BRENTWOOD DRIVE. GRAND ISLAND. NE. Out of the proceeds of said sale,
<br />the Trustee shall retain and pay first all fees, charges and costs of sale and all monies advanced in
<br />the exercise of the power of sale, including the payment of the Trustee's fees actually incurred,
<br />and pay second the obligations secured by this Deed of Trust; and the balance, if any, shall be
<br />paid to the person or persons legally entitled thereto. Any person, including the Beneficiary, may
<br />purchase said property at such sale.
<br />
<br />The Trustor covenants that at the time of delivery of these presents, they are seized of said
<br />property in fee simple, and that said property is free of encumbrances, except encumbrances,
<br />easements, rights-of-way, restrictions and reservations of record, and they will properly maintain
<br />the property, keep all buildings insure for fire and extended coverage in an amount equal to the
<br />unpaid balance of the aforesaid Note, with loss payable to the Beneficiary, and will pay all taxes
<br />and assessments against said property and amounts due on prior encumbrances, and if they shall
<br />fail to pay insurance premiums or taxes on amounts due on prior encumbrances, the Beneficiary
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