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<br />200709786
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<br />DEED OF TRUST
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<br />THIS TRUST DEED made this 15- day of November, 2007, between Larry G. Gibreal, A
<br />Single Person, of 2124 Lawrence Lane, #108, Grand Island, NE 68803, Hall County, Nebraska, as
<br />TRUSTOR, and Willianl A. Francis, A Member of the Nebraska State Bar Association, as
<br />TRUSTEE, and Thomas J. Dolton and Kristie A. Dolton, Husband and Wife, as Joint Tenants,
<br />hereinafter collectively referred to as BENEFICIARIES.
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<br />WITNESSETH:
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<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following-described real property:
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<br />The South Twenty-one and Four Tenths feet (21.4') of Lot Eight (8) and the
<br />North Twenty-eight and Six Tenths feet (28.6') of Lot Seven (7), Block Two (2),
<br />Better Homes Subdivision in the City of Grand Island, Hall County, Nebraska.
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<br />together with all buildings, improvements and appurtenffilces thereon.
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<br />The TRUSTOR hereby covenants and agrees with the TRUSIEE that TRUSTOR is
<br />lawfully seized and the owner of the above-described property; that he has good right and lawful
<br />right an authority to sell. TRUSTOR will warrffilt ffild defend the title to said premises forever
<br />against the claims of all persons whomsoever.
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<br />For the purpose of securing perfonnance of each agreement of TRUSTOR herein contained
<br />and the payment of FORTY-TWO THOUSAND DOLLARS ($42,000.00), the TRUSTOR has
<br />executed a Promissory Note bearing even date, at the rate of interest and on the terms and
<br />conditions as set forth in such Note until paid. The principal sum and interest shall bc payable in
<br />accordance with and upon the terms and conditions of said Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest shall be paid on January 1, 2013.
<br />All installment payments hereunder shall be applied first to the payment of interest computed
<br />monthly on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has been
<br />provided to each of the parties hereto, and remainder of each payment of each installment to be
<br />applied to principal. All payments due hereunder shall be paid at the residence of the
<br />BENEFICIARIES or as the holder of said security shall designate in writing.
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<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE ffild
<br />until filing of Notice of Default, the TRUSTOR shall:
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<br />A. Retain possession of the property at all times, except as may be otherwise agreed by the
<br />parties in writing.
<br />B. Maintain the building and its improvements and all personal property sold under the
<br />parties' Contract for Sale of Real Estate, in good condition and repair.
<br />C. Pay all general and special taxes ffild all special assessments of every kind levied or
<br />assessed against or due upon said property before delinquency, ffild to deliver to
<br />BENEFICIARIES copies of receipts showing payment of such taxes.
<br />D. Procure and maintain policies of all-risk insurffilce on said improvements, in sums ffild
<br />underwritten by companies acceptable to the BENEFICIARIES, in ffil amOlmt of at least
<br />FORTY-SEVEN THOUSAND Dollars ($47,000.00), which policies shall name the
<br />BENEFICIARIES as additional insured(s), with the loss proceeds payable to the patiies as
<br />their interests may appear hereunder. TRUSTOR agree to provide BENEFICIARIES with
<br />copies of such policies or certificates of insurance during the term of this indebtedness,
<br />which policies of insurance may not be cancelled by said caJTier without fifteen (15) days
<br />written notice to BENEFICIARIES.
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<br />TRUSTOR covenants and agrees that a failure to make any payment, either principal or
<br />interest, on the Note secured hereby when due and payable, or a failure to comply with ffilY of the
<br />covenants and agreements herein made shall cause the whole SLUll of money hereby secured to
<br />become immediately due and collectible at the option of the BENEFICIARIES, and
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