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<br />This Deed of Trust, hereinafter referred to as Security Instrument, is made on this 7th day of December, 2006.
<br />The Trustor, hereinafter referred to as Borrower, is Curtis D. Zavodny and Susanne R. Zavodny, Husband and Wife,
<br />whose address is Grand Island, Nebraska.
<br />The Trustee, hereinafter referred to as Trustee is Adams County Bank. The Beneficiary, hereinafter referred to as
<br />Lender, is Adams County Bank, which is organized and existing under the laws of the State of Nebraska, and whose
<br />address is Kenesaw, County of Adams, State of Nebraska. Borrower owes Lender the principal sum of Eighty Thousand
<br />and No/IOO---------------------Dollars ($80,000.00). This debt is evidenced by Borrower's note dated the same date as this
<br />Security Instrument, hereinafter referred to as Note, with the full debt, if not paid earlier, due and payablc on December
<br />11,2011. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by Note(s), together with
<br />interest thereon, any further advances, and all extensions, modification, substitutions, and renewals thereof; (b) the
<br />payment of all other sums, with interest, advanced under Section Nine hereof to protect the security of this Security
<br />Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.
<br />For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with Power of Sale, the following
<br />described real estate:
<br />
<br />Lot Twenty-one (21), Westwood Park Subdivision to the City of Grand Island, Hall County, Nebraska, according
<br />to the recorded plat thereof.
<br />
<br />, which is located in Hall County, Nebraska, having the address of Grand Island, Nebraska,and is hereinafter referred
<br />to as "Property Address."
<br />Together with all the improvements now or hereafter erected on the property and all easements, rights,
<br />appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or
<br />hereafter a part of the said property. All replacements and additions shall also be covered by this Security Instrument. All
<br />of the foregoing is referred to in this Security Instrument as the "Property".
<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and
<br />convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and
<br />will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />I. TRUST DEEDS ACT. That this Trust Deed shall be governed by the terms of Section 76-100 I, and
<br />following, of the Revised Statutes ofthe State of Nebraska, also known as the Nebraska Trust Deeds Act.
<br />2. PAYMENT. That the Borrower shall pay to the Beneficiary the principal and interest under the terms of the
<br />Promissory Note(s).
<br />3 . TAXES. That the Borrower shall pay all general real estate taxes and special assessments levied hereinafter
<br />against the property when the same become due and before the same become delinquent.
<br />4. INSURANCE. That the Borrower shall insure the property against loss by fire, hazards, included within the
<br />term "Extended Coverage" and any other hazards for which the Lender requires insurance in an amount not less than
<br />Eighty Thousand and no/IOO--------------Dollars ($80,000.00) with a company qualified in the State of Nebraska by a
<br />policy containing a clause for loss payable to the Beneficiary and the Borrower as their respective interests exist at the
<br />time of the loss and to provide evidence of payment of the premium of said policy upon reasonable demand by the
<br />beneficiary.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened,
<br />or the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower.
<br />If Borrower abandons the Property, or does not answer within thirty (30) days a notice from Lender that the
<br />insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the
<br />proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due.
<br />The thirty (30) day period will begin when the notice is given.
<br />Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend
<br />or postpone the due date of the payments referred to in Section 2 hereof, or change the amount of the payments. If the
<br />property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the
<br />Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument
<br />immediately prior to the acquisition.
<br />5, WASTE. That the Borrower shall not commit or suffer any waste ofthe property.
<br />Removal of Impfdvements. Borrower shall not demolish or remove any improvements from the real property
<br />without Lendr's prior written consent. As a condition to the removal of any improvements, Lender may require Borrower
<br />to make arrangements satisfactory to Lender to replace such improvements with improvements of at least equal value.
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