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<br />[Spa"" Above This Ucc For Recording Dalll]
<br />
<br />TRUST DEED
<br />
<br />THIS TRUST DEED is made and entered into this . C; day of g.fiit '
<br />2006 by and between Donald C. Diers, President of rlfen- Motor o. 0 rand Island.
<br />Nebraska a Nebraska corporation, whose address is 2423 W. Anna, Grand Island, NE 68803,
<br />TRUSTOR whether one or more; and Dean Hoag, Jr., Attorney at Law, whose address is
<br />3800 Normal Blvd., Suite 100, Lmcoln, NE 68506, TRUSTEE; and FEW Inc. a Nebraska
<br />Corporation, whose address is P.O. Box 6815, Lincoln, NE 68506, BENEFICiARy, whether
<br />one or more.
<br />
<br />WIlNESSETH: That the Trustor does by these ~ents ~, bargain, sell, con~y and
<br />confirm unto the Trustee, with Power of Sale, the followmg-descnbed real estate mcludmg all
<br />buildings, improvements... and fixtures of every kind now or hereafter erected or placed on the
<br />real estate situated in Hall County, Nebraska, described as:
<br />
<br />Lot 1, Commonwealth Business Park Second Subdivision, Grand Island, Hall County,
<br />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 asSlgIll! forever. And the
<br />Trustor nereby expressly WlIlves, releases, and relinquishes unto the Trustee all right, title, claim,
<br />interest, benefit and estate whatever, in and to the above described ~ises and each and every
<br />part thereof, which is given by or results from all laws of the State of Ne~j)f!:rtaining to the
<br />exemJltion of homestead. And the T rostor covenants with the Trustee that he will 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 p~ses: WHEREAS} the Trustor
<br />did on this date execute a Promissory Note evidencing a loan for the prinCIpal sum of
<br />$235,000.00 with interest thereon according to the terms ot said Promissory Note, being payable
<br />in mon~ installments at such place as tlie Beneficiary may designate in writing from time to
<br />time. Notwithstanding any ~vislOn contained herein or in said Promissory N"ote to the contnlry,
<br />if not sooner paid, all sums due and owing under the terms of said Note shall be paid according
<br />to the Note.
<br />
<br />In the event of default, Beneficiary's remedies shall not be limited to those provided for
<br />herein. This Trust Deed may be foreclosed in 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: (I) pay all
<br />present and future taxes and assessments general and special, against said pro~rty 'befure the
<br />same become delinguent or actionable; (2) keep all improvements erected on the land insured as
<br />may be required :lfum time to time by Benefici;uy 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 />req)lired 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 willi all of the terms and conditions of any lien, claim or
<br />indebtedness that may be senior to and take precedence over this Trost Deed as soon as such
<br />Ilayment on or of such lien, claim or indebtedness shall become due; and upon failure of the
<br />Trustor to keep any of said agreements the said Beneficiary may pay such tax, pay for such
<br />insurance, or payoff any and all such liens, or indebtedness as the case may be and mon~
<br />expended, with interest as provided by the terms of the aforementioned Promissory Note, shall be
<br />seCured by this Trust Deed, and the Trustor agrees to pay the same uI!On deniand, and U:R<1n
<br />failure to do so the balance of said Promissory note shall become immeaiately due and {!ayable
<br />at the option of the Benefic~ (4) specifically confer upon the Trustee the Power of S81e as
<br />provided in Nebraska law; ()) retain possesslOn of the ~ses and collect the rents and
<br />revenues therefrom; (6) mamtaJ.n the Property in a condition of maintenance and repair such that
<br />the interest of Trustee and Beneficiary are not reduced in value throu~ 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 property, or if circumstances reasonably indicate that Trustor bas abandoned the Property
<br />whether or not in connection with any other event of default, Beneficiary shall have the nght,
<br />following filing of Notice of Default, to enter upon the premises for the purpose of securing the
<br />
<br />Page 1 (10
<br />Fonn software by: AulOmab:d Rea' Estate Senti.... Ino. - 800.330.1295 File: ...113
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