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<br /> DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is made this 9th day of August, 2007, by and among NATHAN
<br />W. PFENNING and CINDY L. PFENNING, husband and wife, herein referred to as "Trustor",
<br />whose mailing address is 1117 W. 8th Street, Grand Island, Nebraska 68801; BRANDON S.
<br />CONNICK, hereinafter referred to as "Trustee", whose mailing address is P.O. Box 790, Grand
<br />Island, Nebraska 68802; and COMPETITIVE MORTGAGE, INC., a Nebraska Corporation,
<br />hereinafter referred to as "Beneficiary", whose mailing address is 3421 W. State Street, Plaza 4,
<br />Grand Island, NE 68803.
<br />
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<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to
<br />Trustee, in trust, with power of sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of l' rust, the Trustor's interest in the following-
<br />described property located in the County of Hall, Nebraska, to-wit:
<br />
<br />Lot Four (4), Block Eight (8), in Wallichs Addition to the City of Grand Island,
<br />Hall County, Nebraska,
<br />
<br />together with all improvements, fixtures and appurtenances located thereon or in any way
<br />pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof, including
<br />all such personal property that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the real
<br />estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property".
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith in
<br />the principal sum of SIXTY-FIVE THOUSAND AND NO/IOO DOLLARS ($65,000.00),
<br />together with interest at the rate provided therein, or the principal and interest on any future
<br />advance not to exceed the total principal sum initially secured hereby as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renewals, modifications and
<br />extensions of such notes, both principal and interest on the notes being payable in accordance
<br />with the terms set forth therein, which by this reference is hereby made a part hereof;
<br />
<br />(b) the performance of each agreement and covenant of Trustor herein contained; and
<br />
<br />(c) the payment of any sum or sums of money which may be hereafter paid or
<br />advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at
<br />the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as
<br />follows:
<br />
<br />I. Payment of Indebtedness. To pay when due, the principal of, and the interest on,
<br />the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />
<br />2. Title. Trustor is the owner of the Property and has the right and authority to
<br />convey the Property and warrants that the lien created hereby is a first and prior lien on the
<br />Property and the execution and delivery of the Deed of Trust does not violate any contract or
<br />other obligation to which Trustor is subject.
<br />
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