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<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made as of the l lt" day of December, 2009. The Trustor
<br />(whether one or more) is THEODORE D. COST III, a single person, whose address far purposes
<br />of notices in respect to this Deed of Trust is 616 West Koenig Street, Grand Island, NE 68801,
<br />and is sometimes herein identified as Borrower. The Trustee is AREND R. BAACK, Attorney at
<br />Law and member of the Nebraska State Bar Association, whose address is 104 N. Wheeler, PO
<br />Box 790, Grand Island, NE 68802-0790. The Beneficiary is LANCE H. HERMANSEN and
<br />SCHERRY G. HERMANSEN, Husband and Wife, jointly and severally, whose address for
<br />purposes of notification under this Deed of Trust is 2626 West Old Fair Road, Grand Island, NE
<br />68803, and is sometimes herein identified as Lender.
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITI~
<br />FOWER OF SALE, THE FOLLOWING:
<br />Fractional Lot Six (6), Block One Hundred One (101), Koenig and Wiebe's
<br />Addition to the City of Grand Island, Hall County, Nebraska and its complement
<br />Fractional Lot Six (6), in Fractional Block One Hundred One (101), of Railroad
<br />Addition to the City of Grand Island, Hall County, Nebraska;
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges, and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof, and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including but not limrted to heating
<br />and cooling equipment, and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived; all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property".
<br />This Deed of Trust secures the total sum of Twenty-Four Thousand Seven Hundred Fifty
<br />and No/100 Dollars ($24,750.00) as evidenced by Borrower's Deed of Trust Note of even date
<br />herewith (hereinafter referred to as "Debt"), which has a stated maturity date of January 1, 2015.
<br />This Debt shall include any and all modifications, extensions, and renewals thereof or thereto,
<br />and any and all future advances and re-advances to Borrower hereunder pursuant to one or more
<br />promissory notes or credit agreements (herein called "Note").
<br />This Deed of Trust secures to Lender: (i) the Debt evidenced by said Note; (ii) the
<br />payment of all other sums, with interest, advanced under the provisions hereafter to protect the
<br />security; and (iii) the performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal
<br />power and lawful authority to convey the same, and warrants and will defend title to the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />1. Borrower shall pay when due the principal and interest as provided in said Note.
<br />2. All payments received by Lender shall be first applied to advances that may have been
<br />made by Lender, and then to interest due, and last to principal due.
<br />3. Borrower shall pay all general real estate taxes and special assessments against the
<br />Property before the same become delinquent.
<br />4. Borrower shall keep the improvements on said Property insured for their insurable
<br />value against loss by fire and hazards included with the term "extended coverage", and policies
<br />for the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
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