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<br /> ~ DEED OF TRUST
<br /> 1->
<br />
<br />
<br />
<br />THIS TRUST DEED made this d day of December, 2007, between LARRY E.
<br />DAVIDSON and MARIA ELENA DAVIDSON, Husband and Wife, as TRUSTORS, whose
<br />address is 104 Front, Aida, Nebraska; WILLIAM A. FRANCIS, A Member of the Nebraska State
<br />Bar Association, as TRUSTEE, whose address is 222 North Cedar Street, P. O. Box 2280, Grand
<br />Island, Nebraska, 68802; and TERRY D. BUSHHOUSEN and CAROL R. BUSHHOUSEN,
<br />Husband and Wife, all hereinafter collectively referred to as BENEFICIARIES, whose address is
<br />1723 181h Avenue, Elba, Nebraska 68835.
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<br />
<br />WITNESSETH:
<br />
<br />That TRUSTORS hereby grant, bargain, sell, convey and walTant to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following-described real property:
<br />
<br />Lot Seven (7), Block Twenty (20), Aida Village in Hall County, Nebraska.
<br />
<br />together with all buildings, improvemcnts llld appurtenances thcreon.
<br />
<br />The TRUSTORS hercby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that TRUSTORS are lawfully seized and the owners of the above-described property; that they have
<br />good right and lawful authority to sell and convey said premises and that said premises are tiee and
<br />clear of all liens and encumbrlllces, and further, that TRUSTORS will warrant and defend the title
<br />to said premiscs forever against the claims of all persons whomsoever.
<br />
<br />F or the purpose of securing performance of each covenant of this agrecment together with a
<br />payment of the sum of Fifty Thousand Three Hundred Seventy-nine Dollars and One Cent
<br />($50,379.01), the TRUSTORS have executed a Promissory Note bearing even date, at the rate of
<br />interest and on the temlS and conditions as set forth in such Note until paid. The principal SUlU llld
<br />interest together with any future advances to be made at the option of the Pllties shall be payable in
<br />accordance with and upon thc tenus llld conditions of said Note of even date, or lllY extensions or
<br />modifications thereto, and in lllY event the entire principal ballllce due hereLmder and <illy accrued
<br />interest shall be paid on or before October 1, 20014. All installment payments hereunder shall be
<br />applied tirst to the payment of interest computed ll1l1ually on the unpaid balance, pursuant to III
<br />amortization schedule, a copy of which has been provided to each of the parties hereto, and
<br />remainder of each payment of each installment to be applied to principal. All payments due
<br />hereunder shall be paid by mailing them to Home Federal Savings & LOlll, P.O. Box 1009, Grand
<br />Island, Nebraska, 68802, to be deposited in account number 0100560865 owned by the
<br />BENEFICIARIES.
<br />
<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br />until tiling of Notice of Default, the TRUSTORS shall:
<br />
<br />A. Retain possession of the property at all times, except as may be otherwise agreed by the
<br />parties in writing.
<br />
<br />I3. Maintain the building and its improvements and all personal property sold under the parties'
<br />Contract for Sale of Real Estate, in good condition llld repair.
<br />
<br />C. Pay all general and special taxes and all special assessments of every kind levied or assessed
<br />against or due upon said property before delinquency, llld to deliver to BENEFICIARIES
<br />copies of receipts showing payment of such taxes.
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