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<br /> ~.....i DEED OF TRUST U)
<br /> 0
<br /> ~S.".JO
<br />
<br />THIS TRUST DEED made this a.L day of June, 2007, between THOMAS A.
<br />LABENZ, a single person, as TRUSTOR, whose address is 1112 W. 12th Street, Grand
<br />Island, Nebraska 68801; JOHN M. CUNNINGHAM, a member of the Nebraska State Bar
<br />Association, as TRUSTEE, whose address is P. O. Box 2280, 222 N. Cedar St.,
<br />Grand Island, Nebraska 68802 and COMPETITIVE MORTGAGE, INC. whose address is
<br />3421 W. State Street #4, Grand Island, Nebraska 68803, as BENEFICIARY.
<br />
<br />WITNESSETH:
<br />
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors
<br />and assigns, with power of sale, the following-described real property:
<br />
<br />LOT EIGHT (8), FRACTIONAL BLOCK TWO (2), GILBERTS ADDITION TO THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />
<br />together with all improvements and appurtenances thereon.
<br />
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY
<br />that he is lawfully seized and the owner of the above-described property; that
<br />he has good right and lawful authority to sell and convey said premises and
<br />that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTOR will warrant and defend the title to said premises
<br />forever against the claims of all persons whomsoever.
<br />
<br />For the purpose of securing performance of each agreement of TRUSTOR
<br />herein contained and the payment of FIFTY SIX THOUSAND SEVEN HUNDRED DOLLARS
<br />($56,700.00), the TRUSTOR has executed a Trust Deed Note bearing even date, at
<br />the rate of interest and on the terms and conditions as set forth in such Trust
<br />Deed Note until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Trust Deed Note of
<br />even date, and in any event the entire principal balance due hereunder and ar.y
<br />accrued interest shall be paid in Thirty (30) years on June 21, 2037" All
<br />payments due hereunder shall be paid at the address of the BENEFICIARY as above
<br />described, or at such other place as such BENEFICIARY or the holders of said
<br />security shall designate in writing. All installment payments hereunder shall
<br />be applied first to the payment of interest on the unpaid balance, pursuant to
<br />the Amortization Schedule, a copy of which has been provided to each of the
<br />parties hereto, and the remainder of each payment of such installment to be
<br />applied on principal.
<br />
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTOR shall:
<br />
<br />A. Retain possession of the property at all times, except as may be
<br />otherwise agreed by the parties in writing.
<br />
<br />B. Maintain the residence and any other improvements located on the
<br />real property in good condition and repair.
<br />
<br />C.
<br />
<br />Pay all general and special taxes and all
<br />every kind levied or assessed against or
<br />before delinquency, and to deliver to
<br />receipts showing payment of such taxes each
<br />
<br />special assessments of
<br />due upon said property
<br />BENEFICIARY copies of
<br />
<br />year.
<br />
<br />D. Procure and maintain policies of all-risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable to
<br />the BENEFICIARY, in an amount at least equal to the property's full
<br />insurable value, which policies shall na;ne the BENEFICIARY as
<br />
<br />-1-
<br />
<br />TL
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