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<br /> DEED OF TRUST
<br />
<br />
<br />
<br />THIS DEED OF TRUST is made on October ,1. ,2008. ~O
<br />The Trustor/Borrower is Dwayne D. Larson, President of Larson Brick and Masonary, Inc. .. 00
<br />The Trustee is Clifford F. Mesner, Attorney at Law and a member of the Nebraska State Bar Association whose address
<br />is POBox 335. Central City, NE 68826.
<br />The Beneficiary/Lender is Housing Plus, LLC
<br />Beneficiary's address is POBox 335, Central City, NE 68826.
<br />
<br />Borrower irrevocably conveys to Trustee, in Trust, with power of sale, the following:
<br />
<br />Lots 14, 15, 16, 17, 18, 19, 20, 21, 22, and 23 of Larue Subdivision to the City of Grand Island, Hall
<br />County, Nebraska
<br />
<br />Together with all the rents and profits therefrom and subject to easements and restrictions of record, if any.
<br />
<br />Borrower owes Lender $190,000.00, evidenced by Borrower's note of even date, payable according to the terms
<br />thereof.
<br />This Security Instrument secures to Lender the Debt evidenced by said note, the payment of all other sums, with
<br />interest, advanced under the provisions hereafter to protect the security and the performance of Borrower's covenants and
<br />agreements.
<br />
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal power and lawful
<br />authority to convey the same and warrants and will defend title to the real estate against the lawful claims of all persons.
<br />
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />
<br />1. Borrower shall pay when due, the principal and interest as provided in said note.
<br />
<br />2. All payments received by Lender shall be first applied to advances which may have been made by Lender and
<br />then to interest due and last to principal due.
<br />
<br />3. Borrower shall pay all general real estate taxes and special assessments against the property before the same
<br />become delinquent.
<br />
<br />4. If Lender determines that any part of the property is subject to a lien, except for Borrower's Construction
<br />Financing, which is or may attain priority over this security instrument, Lender may give Borrower a notice identifying the
<br />lien and Borrower shall satisfy the lien within 10 days.
<br />
<br />5. Borrower shall keep the improvements on said premises insured against loss by fire and hazards included
<br />within the term "extended coverage" for their insurable value and policies for the same shall include a standard mortgage
<br />clause showing Lender herein. In event of loss, Lender may make proof of loss if not promptly made by Borrower.
<br />Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree,
<br />except if restoration or repair is not economically feasible or Lender's security is not lessened, otherwise said proceeds
<br />shall be paid on the debt herein, whether or not then due.
<br />
<br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from insurance shall
<br />not extend or postpone the due date of the monthly payments provided in said note, or change the amount of the
<br />payments.
<br />
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