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<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST, is made as of the 1 ,( day of February, 2006, by and among, Nickie]. Kallos,
<br />Sf. and Rosie K. Kallos, husband and wife, and Nickie]. Kallos, Jr., a single person, ("Trustor"), whose mailing address
<br />is 101 Mercury Court, AIda, NE 68810; Gary D. Byrne, a member of the Nebraska State Bar Association ("Trustee"),
<br />whose mailing address is P.o. Box 929, North Platte, NE 69103-929 and Competitive Mortgage, Inc., ("Beneficiary"),
<br />whosemailingaddressis3333W.StateStreet.GrandIsland.NE 68003.
<br />
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of l' rust, the real property located in the County of Hall, State of Nebraska, and legally described
<br />as follows (the "Property"):
<br />
<br />Parcel A: Lot Twelve (12) of Frank P. Bark's Subdivision to the City of Grand Island, Hall County,
<br />Nebraska
<br />
<br />Parcel B: The West Twenty-two (22) feet ofthe South Sixty-six (66) feet of Lot Six (6), Block Fifty-
<br />four (54), Original Town, now City of Grand Island, Hall County, Nebraska AND the East Twenty-
<br />eight (28) feet of the South Sixty-six (66) feet and a strip of ground Six (6) feet in width by Thirty-
<br />eight (38) feet in length offthe Northerly and or the West Thirty-eight (38) feet ofthe South Sixty-six
<br />(66) feet in Lot Five (5), in Block Fifty-four (54), of the Original Town, now City of Grand Island,
<br />Hall County, Nebraska
<br />
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may be or
<br />hereafter become an integral part of such buildings and improvements, all crops raised thereon, and an water rights.
<br />
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as
<br />the "Trust Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness in the total principal amount of $32,500.00, with interest thereon, as
<br />evidenced by that certain promissory note of even date (the "Note") with a maturity date of March 1, 2007, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby made
<br />a part hereof, and any and an modifications, extensions and renewals thereof, and
<br />
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at
<br />the rate of 18.0% ~ annum, and
<br />
<br />c. The performance of Trustor's covenants and agreements.
<br />
<br />This Deed of l' rust, the Note, and any other instrument given to evidence or further secure the payment
<br />and performance of any obligation secured hereby are referred to collectively as the "Loan Instruments".
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />
<br />I. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal oi~ and the
<br />interest on, the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />
<br />2. TAXES AND ASSESSMENTS. Trustor shan pay all taxes and special assessments of every
<br />kind, now or hereafter levied against the Trust Estate or any part thereof directly without notice or demand as each
<br />installment comes due and shall provide the Beneficiary with evidence of the payment of the same.
<br />
<br />3. INSURANCE AND REPAIRS. Trustor shan maintain fire and extended coverage insurance
<br />insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of
<br />the unpaid principal balance of the Note (co~insurance not exceeding 80% permitted). Such insurance policy shall
<br />contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable without
<br />ten (10) days prior written notice to Beneficiary. Trustor shall furnish Beneficiary a certificate of insurance coverage
<br />at Beneficiary's request, with a provision in such certificate that the insurer shall provide Beneficiary ten (10) days
<br />advance notice of any cancellation of the policy at any time for any reason, or of expiration of policy without renewal
<br />tllereof. Trustor shall promptly repair, maintain, and replace the Trust Estate or any part thereof so that, except for
<br />ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the
<br />Trust Estate.
<br />
<br />4. ENVIRONMENTAL COMPLIANCE. Trustor shall comply with all federal, state, and local
<br />environmental laws, ordinances, rules, requirements, regulations, and publications as now existing or hereafter existing,
<br />amended, supplemented, or supplanted relating to the preservation of the environment or the regulation or control of
<br />toxic or hazardous substances or materials. Trustor hereby warrants and represents to Beneficiary that there are no toxic
<br />or hazardous substances or materials on or under the Property. Trustor does hereby indemnify and hold Beneficiary
<br />harmless and any successors to Beneficiary's interest from and against any and all claims, damages, losses, and liabilities
<br />arising in connection with the presence, use, disposal, or transport of any substance which is the subject of any
<br />environmental law, regulation, or control of toxic or hazardous substances or materials on, under, from, or about the
<br />Property. This indemnity shall survive reconveyance of the Property secured by this Trust Deed.
<br />
<br />5. ACTIONS AFFECTING TRUST EST ATE. Trustor shall appear in and contest any action
<br />or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all
<br />
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