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<br />~ 200605215 TRUSTDEED
<br />
<br />THIS TRUST DEED is made and entered into this d: C,:t!J. day of May, 2006 by and
<br />betweenDonald C. Dlen President of Diers Motor . 01 Grand Island, Nebraska, a
<br />Nebraska corporationJRUSTOR, whether one or more; and Dean I!o~}r., Attorney at
<br />Law, TRUSTEE; and I'EW Inc., a Nebraska corporation, BENEFICIARY, whether one or
<br />more,
<br />
<br />UNJON TITLE
<br />
<br />Fax; 402-488-2834
<br />
<br />Jun 12 2006 1UOam P002l004
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<br />WIlNESSETH: That the Trustor does by these presents grant, bargain, sell, convey and
<br />confirm unto the Trustee, with Power of Sale, the following-described real estate mcluding all
<br />buildings, improvements; and fixtures of every kind now or hereafter erected or placed on the
<br />real estate situated in lid County, Nebraska, described as:
<br />
<br />Lot 1, Commonwealth Business Park Second Subdivision, Grand Island, Hall
<br />County, Nebraska
<br />
<br />In the event of the sale, transfer or conveyance of the above-described property to any
<br />third party, all sums secured hereby shall be at once due and payable.
<br />
<br />TO HAVE AND HOLD the same, with all rights, privileges, and appurtenances thereunto
<br />belonging, unto the Trustee, his executors, administrators, heirs and assigns. forever, And the
<br />Trustor herebJ' expressly wa\ves, releases, and relinquishes unto the Trustee all right, title, claim,
<br />interest, benefit ,and est!lte whatever, in and to the above described Premises and each and every
<br />part thereof, which 1S gtven by or results from all laws of the State of Nebraska pertaming to the
<br />exemption of homestead. And the Trustor covenants with the Trustee that he wilI forever warrant
<br />and defend the title to the same against the lawful claims of all persons whomsoever.
<br />
<br />IN TRUST, HOWEVER, for the following described purposes: WHEREAS, the Trustor
<br />did on this date execute a Promissory Note evidencin,g a loan for the principal sum of $25,000.00
<br />with interest thereon according to the terms of said Promissory Note, being payable in monthly
<br />installments at such place as the Beneficiary may designate in writing from time to time.
<br />Notwithstandi!l,g ;my provision contained herein or in said Promissory Note to the contrary, ifnot
<br />sooner paid, all sums due and owing under the terms of said Note shall be paid on the 26th day
<br />of September, 2006.
<br />
<br />. In the event of default, Beneficiary's remedies shall not be limited to those provided for
<br />herem. Th\S Trust Deed may be foreclosed 10 the manner prescribed by law for foreclosure of
<br />mortgages.
<br />
<br />IT IS AGREED by and between the parties hereto that the Trustor shall: (1) pay all
<br />present and future taxes and assessments general and special, against said property before the
<br />same become delinguent or actionable; (2) keep all improvements erected on the land insured as
<br />may be required from time to time by Beneficiary against loss by fire and other hazards,
<br />casualties and contingencies, in such amounts and for such periods as are reasonable and may be
<br />required by the Beneficiary, and to keep all policies of such insurance in force and effect and
<br />delivered to the Beneficiary, and naming Trustor and Beneficiary as loss payees, as their interests
<br />may appear; (3) pay and comply with all of the tenns and conditions of any lien, claim or
<br />indebtedness that may be senior to and take precedence over this Trust Deed as soon as such
<br />payment on or of such lien; claim or indebtedness shall become due; and upon failure of the
<br />Trustor to keep any of saia agreements! the said Beneficiary may pay such tax, pay for such
<br />insurance, or payoff any and all such iens, or indebtedness as the case may be, and money
<br />expended, with interest as provided by the tenns of the aforementioned Promissory Note, shall be
<br />secured by this Trust Deed, and the Trustor agrees to pay the same up'on demand, and upon
<br />failure to do so:. the balance of said Promissory note shall become inuneiiiately due and payable
<br />at the option 01 the Benefici~; (4) specifically confer upon the Trustee the Power of Sale as
<br />provided in Nebraska lawi (~) (efain possessIOn of the premises and collect the rents and
<br />revenues therefrom; (6) mamtain the Property in a condition of maintenance and r~air such that
<br />the interest of Trustee and Beneficiary are not reduced in value through waste. Failure to comply
<br />with any of the foregoing provisions shall constitute an event of default under the terms of this
<br />Trust Deed.
<br />
<br />ABANDONMENT OF THE PROPERTY BY TRUSTOR In the event that Trustor abandons
<br />the l'roperty, or if circwnstances reasonably indicate that Trustor has abandoned the Property
<br />wheth,:r or not in connection with any other event of default, Beneficiary shall have the right,
<br />followmg filmg of ;Nohce of Default, to enter upon the premIses for the purpose of s~ring the
<br />same and for carrymg out any other measures necessary to protect and preserve the mterests of
<br />the Beneficiary in and to the Property. Trustor specificany agrees to holdTrustee and Beneficiary
<br />
<br />Page 1 of3
<br />Fonn software by: Automated Reol Estate Sm'ioes.lnc. " 800.330.1295 File: IestB
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