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<br />DBED OF TRUST
<br />
<br />THIS TRUST DEED made this --L day of ~M\~ 2009, between
<br />CARRIE I. BEACOM, a single person, as TRUSTOR, whose add:t)ss is 2907 W. 17th
<br />Street, Grand Island, Nebraska 68803; JOHN M. CUNNINGHAM, a member of the
<br />Nebraska State Bar Association, as TRUSTEE, whose address is 222 N. Cedar
<br />Street, Grand Island, Nebraska 68801; and MAYNARD A. LIF and MARILYN M. LIF,
<br />husband and wife, as joint tenants with right of survivorship, not tenants in
<br />common, whose address is 1214 N. Howard Avenue, Grand Island, Nebraska 68803,
<br />as BENEFICIARIES
<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), BLOCK FOUR (4) IN WESTERHOFF'S SECOND SUBDIVISION
<br />IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />
<br />together with all improvements and appurtenances thereon.
<br />
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARIES that she is lawfully seized and the owner of the above-described
<br />property; that she has good right and lawful authority to sell and convey said
<br />premises and that said premises are free and clear of all liens and
<br />encumbrances, and further, that TRUSTOR will warrant and defend the title to
<br />said premises 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 TWENTY FIVE THOUSAND DOLLARS ($25,000.00),
<br />the 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 June 1, 2024. All payments due hereunder shall be paid at the
<br />address of the BENEFICIARIES as above described, or at such other place as such
<br />BENEFICIARIES or the holders of said security shall designate in writing. All
<br />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. Pay all general and special taxes and all special assessments of
<br />every kind levied or assessed against or due upon said property
<br />before delinquency, and to deliver to BENEFICIARIES copies of
<br />receipts showing payment of such taxes each year.
<br />
<br />D.
<br />
<br />Procure and
<br />
<br />improvements,
<br />
<br />maintain policies of all-risk insurance on said
<br />in sums and underwritten by companies acceptable to
<br />
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