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<br /> NOTICE OF DEFAULT
<br /> TO: JOEL B. SHAFER
<br /> #66 Ponderosa Drive,
<br /> Grand Island, Nebraska 68803
<br />
<br />
<br />
<br />You are hereby given Notice of Default under a Deed of Trust
<br />dated October 17, 2006, and recorded October 19, 2006, as Document
<br />No. 0200609333 in the Office of the Register of Deeds of Hall
<br />County, Nebraska; said Deed of Trust securing the following
<br />property:
<br />
<br />{ 4. DC>
<br />
<br />LOTS ONE (1), TWO (2), THREE (3), BLOCK ONE (1) AND
<br />LOTS ONE (1), TWO (2), THREE (3), BLOCK TWO (2),
<br />SANTA ANITA ESTATES SECOND SUBDIVISION, CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA
<br />
<br />LOTS FIVE (5) AND SIX (6), SANTA ANITA ESTATES
<br />SUBDIVISION, CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />
<br />said Deed of Trust being in favor of The State Bank of Lebo, P. O.
<br />Box 46, Lebo, Kansas 66856, Trustee and Beneficiary under said
<br />Deed of Trust.
<br />
<br />Said default under the terms of said Deed of Trust has
<br />occurred by virtue of nonpayment of the payments as they became
<br />due and payable under a Promissory Note dated October 17, 2006,
<br />and designated as Loan No. 87355, in the principal sum of One
<br />Million Three Hundred Forty Three Thousand Eight Hundred Sixty
<br />Five Dollars and Sixty Cents ($1,343,865.60), with a total
<br />principal balance due and owing as of May 19, 2008, of One Million
<br />Three Hundred Forty One Thousand, Four Hundred Eighty Four Dollars
<br />and Fifty Eight Cents ($1,341,484.58) accrued interest of Sixteen
<br />Thousand Nine Hundred Sixteen Dollars and Ninety One Cents
<br />($16,916.91), and late fees and charges Two Hundred Fifty Dollars
<br />($250.00), for a total of ONE MILLION THREE HUNDRED FIFTY EIGHT
<br />THOUSAND SIX HUNDRED FIFTY ONE DOLLARS and FORTY NINE CENTS
<br />($1,358,651.49), and per diem interest accruing at the rate of
<br />$307.42 from and after May 19, 2008.
<br />
<br />In addition, Trustor is hereby liable to Trustee, The State
<br />Bank of Lebo, for all fees and costs associated with this default
<br />and recovery pursuant to Nebraska Statute ~76-1012.
<br />
<br />By virtue of said default, Trustee, The State Bank of Lebo,
<br />has determined to sell or cause to be sold the trust property to
<br />satisfy the obligations referred to above.
<br />
<br />The default may be cured within Sixty (60) days of the filing
<br />of this Notice, and the obligations of the Deed of Trust may be
<br />thereby reinstated as provided in Nebraska Statute ~76-1012.
<br />
<br />7...-., 2008.
<br />
<br />DATED: June
<br />
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