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<br />DEED OF TRUST
<br />, ii, o?u; S ()
<br />THIS TRUST DEED made this ~ day of March, 2008, between CAL V AR Y
<br />APOSTOLIC CHURCH OF GRAND ISLAND,' NEBRASKA, A Nebraska Corporation as
<br />TRUSTOR, whose address is 515 South Oak, Grand Island, Nebraska; WILLIAM A. FRANCIS, A
<br />Member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 North Cedar
<br />Street, P. O. Box 2280, Grand Island, Nebraska, 68802; and BILLY R. WOLF and ANITA R.
<br />WOLF, Husband and Wife, as joint owners with rights of survivorship, whose address is 1137
<br />Highway 100, Morrison, Missouri 65016, all hereinafter collectively referred to as
<br />BENEFICIARIES.
<br />
<br />WITNESSETH:
<br />
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN
<br />TRUST, their successors and assigns, with power of sale, the following-described real property:
<br />
<br />Lot Two (2) of Pier Park 2nd Subdivision, City of Grand Island, Hall County,
<br />Nebraska.
<br />
<br />together with all buildings, improvements and appurtenances thereon.
<br />
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARIES
<br />that TRUSTOR is lawfully seized and the owner of the above-described property; that is has good
<br />right and lawful authority to sell and convey said premises and that said premises are free and clear
<br />of all liens and encumbrances, and further, that TRUSTOR will warrant and defend the title to said
<br />premises forever against the claims of all persons whomsoever.
<br />
<br />F or the purpose of securing performance of each covenant of this agreement together with a
<br />payment of T\yenty-Seven Thousand Five Hundred Dollars ($27,500.00), 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 be 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 or before April 1,
<br />2010. All installment payments hereunder shall be applied fIrst to the payment of interest
<br />computed annually on the unpaid balance, pursuant to an amortization schedule, a copy of which
<br />has been provided to each of the parties hereto, and remainder of each payment of each installment
<br />to be applied to principal. All payments due hereunder shall be paid by mailing them to BILLY R.
<br />WOLF and ANITA R. WOLF, 1137 Highway 100, Morrison, Missouri 65016, BENEFICIARIES.
<br />
<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br />until filing of Notice of Default, the TRUSTOR 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 />B. Maintain the building and its improvements mId all personal property.
<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, and to deliver to BENEFICIARIES
<br />copies of receipts showing payment of such taxes.
<br />
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