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<br />
<br />DEED OF TRUST
<br />
<br />15.'50
<br />
<br />THIS DEED OF TRUST, is made as of the 30th day of May, 2007, by and among Virginia M. Arvizo and Alfonso
<br />Arvizo, Wife and Husband ("Trustor"), whosemailingaddressis1336ShermanPI..Grandlsland.NE 68803; Richard T.
<br />Seckman, Attorney at Law ("Trustee"), whose mailing address is 1109CStreet, P.O. Box466,Schuyler,NE 68661; and
<br />Eugene J. Jedlicka and Carol A. Jedlicka, Husband and Wife, as joint tenants, ("Beneficiary") whose mailing address is
<br />1617 Adam Street, Schuyler, NE 68661.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN TRUST,
<br />WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this
<br />Deed of Trust, the real property located in the County of Hall, State of Nebraska, and legally described as follows (the
<br />"Property"):
<br />
<br />Part of the Northwest Quarter of the Northwest Quarter (NW1/4NW1/4) of Section Twenty-Two (22),
<br />Township Eleven (11) North, Range Nine (9) West of the 6th P.M., in Hall County, Nebraska, more
<br />particularly described as follows:
<br />
<br />Beginning at a point Forty Feet (40') East and Five Hundred Eighty-Two Feet (582') South of the
<br />Northwest Corner of said Section 22, Township 11 North, Range 9 West, thence due East One Hundred
<br />Thirty-Two Feet (132') parallel with the North line of said Section; thence due South parallel with the
<br />West line of said Section 22, Sixty-Six Feet (66'); thence due West parallel with the North line of said
<br />Section 22, One Hundred Thirty-Two Feet (132'); thence North and parallel with the West line of said
<br />Section 22, Sixty-Six Feet (66') to the point of beginning (Said Tract formerly being described as Lot
<br />Five (5) in Block Six (6), South Grand Island.) Excepting therefrom the Warranty Deed recorded at Book
<br />164, Page 29, in the office of the Register of Deeds, Hall County, Nebraska,
<br />
<br />TOGETHER WITH, all rents, easements appurtenances, hereditaments, interests in adjoining roads, streets and
<br />alleys, improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become
<br />an integral part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust
<br />
<br />Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $113,000.00, with interest thereon, as evidenced by
<br />that certain promissory note of even date (the "Note") with a maturity date of May 20,2012 executed by Trustor, which has
<br />been delivered and is payable to the order of Beneficiary, and which by this reference is hereby made a part hereof, and
<br />any and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at the rate of
<br />twelve percent (12.0%) per annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the
<br />indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every kind, now or
<br />hereafter levied against the trust estate or any part thereof as follows:
<br />(initial one)
<br />x Trustor shall directly pay such taxes, without notice or demand as each installment comes due and shall provide
<br />the beneficiary with evidence of the payment of the same.
<br />Trustor shall pay to beneficiary one-twelfth of the real estate taxes each month and such other assessments as
<br />they become due. The one-twelfth payment shall be adjusted annually as the taxes change and trustor agrees
<br />that after payment of the taxes each year that any deficiency will be promptly paid to Beneficiary. Beneficiary
<br />agrees to provide trustor with receipts showing that the real estate taxes have been paid in full and when due.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fjre and extended coverage insurance insuring the
<br />improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid
<br />principal balance of the Note (co-insurance not exceeding 80% permitted). Such insurance policy shall contain a standard
<br />mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable without ten (10) days prior
<br />written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so
<br />that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste
<br />on or to the Trust Estate.
<br />4. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding
<br />purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and
<br />expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or
<br />Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in any of
<br />the Loan Instruments, Beneficiary and/or Trustee, each in its own discretion, without obligation so to do and without notice
<br />to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the same in such manner
<br />and to such extent as either may deem necessary to protect the security hereof. Trustor shall, immediately upon demand
<br />
<br />Work-DeedS 2007
<br />Jedlicka-Arvizo-Deed of Trust-dd
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