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<br /> DEED OF TRUST N (f'J
<br /> (J)
<br />
<br />THIS DEED OF TRUST is made on this ~ day of February, 2007. The Trustor
<br />(whether one or more) is JOHN 1. GILLESPIE, a single person, whose address for purposes of
<br />notices in respect to this Deed of Trust is 120 Redwood Rd., Grand Island, NE 68803 and is
<br />sometimes herein identified as Borrower. The Trustee is PLATTE VALLEY STATE BANK &
<br />TRUST COMPANY, a Nebraska banking corporation, whose address is 810 Allen Drive, P.O.
<br />Hox 5168, Grand Island, NE 68802-5168. The Beneficiary is PLATTE V ALLEY STATE
<br />BANK & TRUST COMPANY, a Nebraska banking corporation, whose address is 810 Allen
<br />Drive, P.O. Box 5168, Grand Island, NE 68802-5168, and is sometimes herein identified as
<br />Lender.
<br />
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH
<br />POWER OF SALE, THE FOLLOWING:
<br />
<br />Lot Twenty-Four (24), Country Meadows Subdivision, to the City of Grand
<br />Island, Hall County, Nebraska;
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereot; and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and cooling equipment and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived, all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property".
<br />
<br />This Deed of Trust secures the total sum of fifty Thousand and No/ I 00 Dollars
<br />($50,000.00) as evidenced by Borrower's Promissory Note of even date herewith (hereinafter
<br />reterred to as "Debt") which has a stated maturity date of Three Hundred Sixty (360) months
<br />after the earlier of that date on which the criminal charge dcscribed in Hall County Court Case
<br />No. CR06-4560: (a) is dismissed; (b) is reduced to a misdemeanor and sentencing is pronounced
<br />with no imprisonment; or (c) is reduced to a misdemeanor and the undersigned is released aftcr
<br />serving any sentence of imprisonment. This Debt shall include any and all modifications,
<br />extensions and rcnewals thereof or thereto and any and all fulure advances and re-advances lo
<br />Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes
<br />or credit agreements (herein called "Note").
<br />
<br />This Deed of '1' rust secures to Lender the Debt evidenced by said Note, the payment of all
<br />other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performance of Borrower's covenants and agreements.
<br />
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has thc lcgal
<br />power and lawful authority to convey the same and warrants and will dcfend title to the real
<br />estatc against thc lawful claims of all persons.
<br />
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />
<br />I. Borrower shall pay when due, the principal and interest as provided in said Note.
<br />
<br />2. All payments received by Lender shall be first applied to advances that may have been
<br />made by Lender and then to interest due and last to principal due.
<br />
<br />3. Borrower shall pay all general real estate taxes and special assessments against the
<br />Property before the same become delinquent.
<br />
<br />4. Borrower shall keep the improvements on said Property insured against loss by fire
<br />and hazards included with the term "extended coverage" for their insurable value and policies for
<br />the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance procccds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
<br />
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