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<br />
<br />DEED OF TRUST
<br />
<br />THIS TRUST DEED made this ~ day of , 2008, between the
<br />BUYERS, Jimmy Brian Hopkins, A Single Person, and Joh pencer and Sarah Ann Spencer,
<br />Husband and Wife, hereinafter collectively referred to as TR STORS, and William A. Francis, A
<br />Member of the Nebraska State Bar Association, as TRUSTEE, and Stephen E. Fitzgerald and
<br />Colleen G. Fitzgerald, Husband and Wife, as Joint Tenants, hereinafter referred to as
<br />BENEFICIARIES.
<br />
<br />~
<br />~
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<br />
<br />WITNESSETH:
<br />
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following-described real property:
<br />
<br />The West 36 feet and 8 inches of Lot 6, Block 34, Original Town, now City of
<br />Grand Island, Hall County, Nebraska
<br />
<br />together with all buildings, improvements and appurtenances thereon.
<br />
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE that Sarah Ann Spencer is
<br />lawfully seized and the owner of the above-described property; that she has good and lawful right
<br />and authority to sell the above described property; that John Spencer, as spouse of Sarah Ann
<br />Spencer joins in this Deed of Trust as Trustor and further Jimmy Brian Hopkins, a single person
<br />joints in this Deed of Trust to convey any right, title or ownership he may have in the property to
<br />Trustee in Trust. TRUSTOR, Sarah Ann Spencer will warrant and defend the title to said
<br />premises forever and against the claims of all persons whomsoever.
<br />
<br />For the purpose of securing performance of each covenant of this Agreement, together with
<br />the payment of Fifty Five Thousand DOLLARS ($55,000.00), the TRUSTORS have executed a
<br />Promissory Note bearing even date, at the rate of interest and on the terms and conditions as set
<br />forth in such Note until paid. The principal sum and interest shall be payable in accordance with
<br />and upon the terms and conditions of said Note of even date, and in any event .the entire principal
<br />balance due hereunder and any accrued interest shall be paid on September 1, 201 O. All installment
<br />payments hereunder shall be applied first to the payment of interest computed monthly on the
<br />unpaid balance, pursuant to the Amortization Schedule, a copy of which has been provided to each
<br />of the parties hereto, and remainder of each payment of each installment to be applied to principal.
<br />All payments due hereunder shall be paid at the residence of the BENEFICIARIES or as the holder
<br />of said security shall designate in writing.
<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 ofDefauIt, 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 />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 and all special assessments of every kind levied or
<br />assessed against or due upon said property before delinquency, and to deliver to
<br />BENEFICIARIES copies of receipts showing payment of such taxes.
<br />D. Procure and maintain policies of all-risk insurance on said improvements, in sums and
<br />underwritten by companies acceptable to the BENEFICIARIES, in an amount of at least
<br />One Hundred Thousand Dollars ($100,000.00), which policies shall name the
<br />BENEFICIARIES as additional insured(s), with the loss proceeds payable to the parties 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 />
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