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<br />THIS DEED OF TRUST, is made as ofthe 2nd day of February, 2006, by and among, Todd Friesen ~..
<br />and Lori Friesen, husband and wife, ("Trustor"), whosemailingaddressis4134W. Faidley, GrandIsland,NE 68801;
<br />Gary D. Byrne, a member of the Nebraska State Bar Association ("Trustee"), whose mailing address is P.O. Box 929,
<br />North Platte, NE 69103-929 and Richard E. Rief, ("Beneficiary"), whose mailing address is 4300 E. Highway 30, Grand
<br />Island, NE 68003.
<br />
<br />FOR VALUABLE CONSIDERA nON, Trustor irrevocably transfers, conveys and assigns to Trustcc,
<br />IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions ofthis Deed of Trust, the real property located in the County of Hall, State of Nebraska, and legally described
<br />as follows (the "Property"):
<br />
<br />Lot Two (2), Rief Standeven Subdivision in Hall County, Nebraska, less and excepting
<br />therefrom a tract of land conveyed to the State of Nebraska, Department of Roads by deeds
<br />recorded in the Register of Deeds Office, Hall County, Nebraska as Document Numbers
<br />200308995 and 200313515
<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 all water rights.
<br />
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectivcly as
<br />the "Trust Estate".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness in the total principal amount of $51,468.63, with interest thereon, as
<br />evidenced by that certain promissory note of even date (the "Note") with a maturity date of March 1, 2011,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 all 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 of7% ill:I allium, 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 />1. PAYMENT OF INDEBTEDNESS. Trustor 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 Loan Instrumcnts.
<br />
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every
<br />kind, now or hereafter levied against the Tmst Estate or any part thereof directly without notice or demand as each
<br />installment comes duc and shall provide the Beneficiary with evidence of the payment of the same.
<br />
<br />3. INSURANCE AND REPAIRS. Trustor 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 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 />thereof. 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 />Tmst 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 ESTATE. 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 />costs and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which
<br />Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner
<br />provided in any of the Loan Instruments, Beneficiary and/or Trustee, in its own discretion, without obligation so to do
<br />and without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the
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