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<br />DEED OF TRUST
<br />
<br />--- THIS TRUST DEED made this IO~y of April , 2009, between PETER
<br />DON DffiBERN and VALERIE JANE DffiBERN, Husband and Wife, of Hall County, Nebraska,
<br />as TRUSTORS, whose address is 3038 North 150th Road, Cairo, Nebraska; and JOHN M.
<br />CUNNINGHAM, A Member of the Nebraska State Bar Association, as TRUSTEE, and CHRISTIE
<br />M. DffiBERN HYBL, Trustee of the PETER A. DffiBERN AND ANGELINE R. DffiBERN
<br />REVOCABLE TRUST, whose address is POBox 34, Cairo, Nebraska, hereinafter referred to as
<br />BENEFICIARY.
<br />
<br />WITNESSETH:
<br />
<br />That TRUSTORS hereby grant, bargain, sell convey and warrant to TRUSTEE, IN TRUST,
<br />his successors and assigns, with power of sale, the following-described real property:
<br />
<br />Lot One (1) Final Landing Subdivision, in Section Two (2), Township Eleven
<br />(11) North, Range Twelve (12), West ofthe 6th P.M., Hall County, Nebraska
<br />
<br />together with all buildings, improvements and appurtenances thereon.
<br />
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY that
<br />TRUSTORS are lawfully seized and the owners of the above-described property; that they have
<br />good right and lawful right an authority to sell. TRUSTORS 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 TRUSTORS herein
<br />contained and the payment of ONE HUNDRED TWENTY -SEVEN THOUSAND THREE
<br />HUNDRED DOLLARS ($127,300.00), the TRUSTORS have executed a Promissory Note bearing
<br />even date, at the rate of interest and on the terms and conditions as set forth in such Note until paid.
<br />The principal sum and interest shall be payable in accordance with and upon the terms and
<br />conditions of said Note, and amortization schedule of even date, and in any event the entire
<br />principal balance due hereunder and any accrued interest shall be paid within twelve months of the
<br />date of death of Angeline R. Dibbern or April 1, 2019, whichever event shall first occur. All
<br />installment payments hereunder shall be applied first to the payment of interest computed monthly
<br />on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has been provided
<br />to each of the parties hereto, and remainder of each payment of each installment to be applied to
<br />principal. All payments due hereunder shall be paid to the BENEFICIARY at such address as she
<br />may 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 of Default, the TRUSTORS 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 />BENEFICIARY 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 BENEFICIARY, in an amount of at least
<br />ONE HUNDRED TWENTY SEVEN THOUSAND THREE HUNDRED Dollars
<br />($127,300.00), which policies shall name the BENEFICIARY as additional insured(s),
<br />with the loss proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARY with copies of such policies or certificates
<br />
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