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<br />200608167
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<br />TRUST DEED
<br />
<br />This Trust Deed made this It day of September, 2006 between NATHAN
<br />DETROIT'S INC. and ROBERT MAHOOD, an individual, as TRUSTOR and
<br />L. WILLIAM KELLY as TRUSTEE and LARRY COFFIN as BENEFICIARY.
<br />
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified
<br />herein and trust herein created, the receipt of which is hereby acknowledged, Trustor
<br />hereby irrevocably grant, transfer, convey and assign to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the
<br />terms and conditions hereinafter set forth, all of Trustor's interest in and to the real
<br />property, described as follows:
<br />
<br />North one-half (1/2) of Lot 1, Block 55, Original
<br />Town of Grand Island, Hall County, Nebraska
<br />
<br />Together with all his interest in and to all buildings, improvements, fixtures, streets,
<br />alleys, passageways, easements, rights, privileges and appurtenances located thereon or in
<br />anyway pertaining thereto, and the rents, issues and profits, reversions and remainders
<br />thereof; including, but not limited to, heating and cooling equipment and such personal
<br />property that is attached to the improvements so as to constitute a fixture; and together
<br />with the homestead or marital interests, if any, which interests are hereby released and
<br />waived; all of which, including replacements and additions thereto, is hereby declared to
<br />be a part of the real estate secured by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the "property". The intention being to convey
<br />hereby an absolute title in fee simple.
<br />
<br />The Trustor covenants and agrees with the said Trustee and Beneficiary that he is
<br />lawfully seized of said premises; that he has good right and lawful authority to sell and
<br />convey his interest in and to said premises, that said premises are free and clear of all
<br />liens and encumbrances. Trustor will warrant and defend the title to said premises unto
<br />the Trustee and his successor and assigns forever against the claims of all persons.
<br />
<br />This Trust Deed is executed to secure the payment of a Promissory Note and for
<br />the purpose of securing performance of each agreement of Trustor herein contained and
<br />the principal payment of $25,000.00 evidenced by a Promissory Note, bearing a date of
<br />September 'l , 2006, principal sum and interest thereon shall be payable, in
<br />installments, as follows:
<br />
<br />The principal sum together with accrued interest shall be due and payable in
<br />installments of $331.59 per month the first installment payment of $331.59
<br />is due on the 15th day of December, 2006, and all subsequent installments of
<br />$331.59 per month is due and payable on the 15th day of each month thereafter
<br />until the unpaid principal together with all accrued interest is paid in full. The
<br />final payment shall be due and payable November, 2014.
<br />
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