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<br />DEED OF TRUST
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<br />THIS TRUST DEED made this ~ day of May, 2008, between RICHARD MACKU,
<br />a single person, as TRUSTOR, whose address is 2318 W. 3rd Street, Grand Island,
<br />Nebraska 68803; JOHN M. CUNNINGHAM, a member of the Nebraska State Bar
<br />Association, as TRUSTEE, whose address is 222 N. Cedar Street, Grand Island,
<br />Nebraska 68801; and WILLIAM H. BAASCH, a single person, whose address is 3180
<br />S. Blaine, Grand Island, Nebraska 68801, 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 FOUR (4) AND LOT FIVE (5?/~ BLOCK THREE (3), BAKER'S
<br />ADDITION TO CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA,
<br />known as 2318 W. 3cl Street, Grand Island, 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 THOUSAND DOLLARS ($50,000.00), the
<br />TRUSTOR has executed a Trust Deed Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Trust Deed Note of even date, and in
<br />any event the entire principal balance due hereunder and any accrued interest
<br />shall be paid on November 1, 2010. All payments due hereunder shall be paid at
<br />the address of the BENEFICIARY as above described, or at such other place as
<br />such BENEFICIARY or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy
<br />of which has been provided to each of the parties hereto, and the remainder of
<br />each payment of such installment to be 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 />year.
<br />
<br />D.
<br />
<br />Procure and maintain
<br />improvements, in sums
<br />the BENEFICIARY, in an
<br />
<br />policies of all-risk insurance on said
<br />and underwritten by companies acceptable to
<br />amount at least equal to the property's full
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