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<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is made this .6/6tay of U U.:5t ,2006, by and among
<br />PATRICK D. LANGER and CAROLYN K. LANGER, husb d and wife, hereinafter
<br />collectively referred to as "Trustor", whose mailing address is 2208 Woodridge Ct., Grand
<br />Island, Nebraska 68803; BRANDON S. CONNICK, Attorney-at-Law, hereinafter referred to as
<br />"Trustee", whose mailing address is P.O. Box 790, Grand Island, Nebraska 68802; and
<br />MARCUS J. SNOW and PAMELA H. SNOW, husband and wife, hereinafter collectively
<br />referred to as "Beneficiary", whose mailing address is 1524 Fairway Circle, Ashland,NE 68003.
<br />
<br />For valuable consideration, Trustor irrevocably grants, 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 Trustor's interest in the property
<br />located at 2116 S. Webb Road, Grand Island, Hall County, Nebraska and legally described as
<br />follows:
<br />
<br />Lot Two (2), Home Federal Subdivision to the City of Grand Island, Hall County,
<br />Nebraska, formerly a part ofthe Hamilton Subdivision and the Mayer~Mehring
<br />Subdivision all in the City of Grand Island, Nebraska,
<br />
<br />together with all improvements, fixtures and appurtenances located thereon or in any way
<br />pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof: including
<br />all such personal property that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the real
<br />estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by Promissory
<br />Installment Note dated July 11, 2006 in the principal sum of TWO
<br />HUNDRED SEVENTY~EIGHT THOUSAND AND NOll 00 DOLLARS
<br />($278,000.00), together with interest at the rate provided therein, or the
<br />principal and interest on any future advance not to exceed the total
<br />principal sum initially secured hereby as evidenced by promissory notes
<br />stating they are secured hereby, and any and all renewals, modifications
<br />and extensions of such notes, both principal and interest on the notes being
<br />payable in accordance with the terms set forth therein, which by this
<br />reference is hereby made a part hereof;
<br />
<br />(b) the performance of each agreement and covenant of Trustor
<br />herein contained; and
<br />
<br />(c) the payment of any sum or sums of money which may be
<br />hereafter paid or advanced by Beneficiary under the terms of this Deed of
<br />Trust, together with interest thereon at the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as
<br />follows:
<br />
<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on,
<br />the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />
<br />2. Title. Trustor is the owner of the property and has the right and authority to
<br />execute this Deed of Trust in respect to the property.
<br />
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all
<br />other charges against the property, before the same become delinquent, and, in the event
<br />
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