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<br />
<br />DEED OF TRUST
<br />With Power of Sale
<br />
<br />Trustors:
<br />Marital Status:
<br />Beneficiary:
<br />
<br />
<br />
<br />Vi.;:
<br />Raymond C. Engel as Trustee8f!h~l~:lYmond C. E~~el Trust dated April 26, -.';;
<br />1999 and Raymond C. Engel lru1iUt'li of the Mildred I. Engel Trust dated
<br />April 26, 1999. L.
<br />5731 S. 60th Road
<br />Aida, NE 68810
<br />
<br />Trustee: Michael J. Tye, Esq.
<br />1419 Central Avenue, P.O. Box 636
<br />Kearne NE 68848-0636
<br />Princi al Sum of Promisso Note: $317,500.00
<br />Promissor Note Date of Execution:
<br />Last Installment Due Date: Balloon a ment due Januar 15, 2007
<br />
<br />Trustors, in consideration of the Principal Sum, as stated above,
<br />conveys to the Trustee, in trust, with the Power of Sale, the following
<br />described real estate (as defined in Neb. Rev. Stat. ~ 76-201):
<br />
<br />The Northeast Quarter (NE ~) of Section Ten (10), Township Nine
<br />(9) North, Range Nine (9) West of the 6th P.M. Hall County, Nebraska,
<br />excepting a certainTract more particular described as Lot One (1), M L.
<br />Harris Subdivision, Hall County, Nebraska recorded as Document No.
<br />200602208.
<br />
<br />hereinafter referred to as "Property".
<br />
<br />This is a Purchase Money Deed of Trust.
<br />
<br />Trustors covenant that Trustors are lawfully seised of such Property
<br />and that it is free from encumbrances; that the Trustors have legal power
<br />and lawful authority to execute this Deed of Trust; and that the Trustors
<br />warrant and will defend title to the Property against the lawful claims of all
<br />persons.
<br />
<br />The Trustors and Beneficiary covenant and agree as follows:
<br />
<br />1. Payment of Promissory Note. Trustors shall promptly pay when due
<br />the principal of and interest on the debt evidenced by this Deed of
<br />Trust and Promissory Note of even date herewith, the last installment
<br />of which is due as described above, together with all sums advanced
<br />by the Beneficiary to protect the Propertyll' with interest thgrQQn ::It the T
<br />def~ult I ate as provided in the PromiBlwry Note. ~r
<br />2. Taxes & Assessments. The Trustors shall pay all real estate taxes
<br />levied on the Property when they become due and before they
<br />become delinquent.
<br />3. Insurance. Trustors shall maintain adequate property hazard
<br />insurance fro the replacement value of the Property, and any
<br />improvements thereon, or its equivalent, with a mortgage clause
<br />providing a loss payable to the parties as their respective interests
<br />may appear until such time as the entire purchase price as set forth
<br />in this Deed of Trust and the Promissory Note are paid in full. In case
<br />of loss under such policy, Beneficiary is authorized to adjust, collect
<br />and compromise all claims thereunder and shall have the option of
<br />applying all or a part of the insurance proceeds: (i) to any
<br />
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