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<br /> DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is made on this \ lP~ day of De:ThY)vI ,2006. The ;<tJ, So
<br />Trustor is KARL M. QUANDT and KIM QUANDT, husband and wife, whose address for purposes
<br />of notices in respect to this Deed of Trust is 2218 E. Prairie Road, Grand Island, Nebraska 68801,
<br />and is sometimes herein identified as Borrower. The Trustee is Galen E. Stehlik, attorney at law and
<br />member of the Nebraska State Bar Association, whose address is 724 W. Koenig Street, P.O. Box
<br />400, Grand Island, Nebraska 68802-0400. The Beneficiaries are Lavilla.t. Quandt, 7175 N. Quandt
<br />Road, Grand Island, Nebraska 68801, Kenneth A. Quandt, 2104 P Street, Aurora, Nebraska 68818,
<br />and Renae K. Kamler, 115 Road P, Shickley, Nebraska 68436- 3066, and sometimes herein identified
<br />collectively as Lender.
<br />
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH POWER
<br />OF SALE, THE FOLLOWING:
<br />
<br />The Northeast Quarter of the Northeast Quarter (NE1I4NE1I4) of Section Eleven
<br />(11), Township Twelve (12) North, Range Nine (9), West of the 6th p.M., Hall
<br />County, Nebraska,
<br />
<br />together with all buildings, improvements, fixtures, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to
<br />constitute a fixture, including, but not limited to, heating and cooling equipment and together with
<br />the homestead or marital interests, if any, which interests are hereby released and waived, all of
<br />which, including replacements and additions thereto, is hereby declared to be a part of the real estate
<br />secured by the lien of this Deed of Trust and all of the foregoing being referred to herein as the
<br />"Property, "
<br />
<br />Borrower owes Lender the total sum of Sixty-two Thousand Dollars & no/l 00-($ 62,000. 00)
<br />evidenced by Borrower's Note of even date herewith (hereinafter referred to as "Debt") which has
<br />a stated maturity date of I - f - ~~o7 . This Debt shall include any and all modifications,
<br />extensions and renewals thereof or thereto and any and all future advances and re-advances to
<br />Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes or
<br />credit agreements (herein called "Note").
<br />
<br />This Deed of Trust secures to Lender the Debt evidenced by said Note, the payment of all
<br />other sums, advanced under the provisions hereafter to protect the security and the performance of
<br />Borrower's covenants and agreements.
<br />
<br />Borrower covenants that Borrower is lawfully seized of such real estate and has the legal
<br />po\ver and la'llful authority tc convey the same <md v.,ra..'Tants a..'1d will defend title to the real estate
<br />against the lawful claims of all persons.
<br />
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />
<br />1. Borrower shall pay when due, the principal as provided in said Note.
<br />
<br />2. All payments received by Lender shall be first applied to advances which may have
<br />been made by Lender and then to principal due.
<br />
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