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<br />~'""^ TRUST DEED ~y
<br />THIS DEED OF TRUST is made on January ~d , 2010. The Trustors are Chad
<br />Rathman and Lisa B. Rathman, husband and wife, (collectively "Borrower"). The Trustee is
<br />Denise D. Myers, of Myers & Daugherty Law Office, 611 N. Diers Ave., Ste. 1, Grand Island,
<br />Nebraska 68803, ("Trustee"). The beneficiary is Janice G. Powell, formerly Janice G. Rathman,
<br />as Trustee of the Jerome J. Rathman and Janice G. Rathman Trust, 5318 W. Schimmer Dr.,
<br />Grand Island, NE 68803, ("Lender"). Borrower owes Lender the principal sum of Six Hundred
<br />Thirty Eight Thousand and 00/100 Dollars ($638,000.00). This debt is evidenced by Bon-ower's
<br />note dated the same date as this Security Instrument ("Note"), which provides for payment of
<br />principal, plus accrued interest insemi-annual payments. The Deed of Trust (sometimes referred
<br />to herein as "security instrument") secures to Lender: (a) the repayment of the debt evidenced
<br />by the Note, and all renewals, extensions and modifications; (b) the payment of all other sums
<br />advanced under paragraph 4 to protect the security of this Security Instrument; and (c) the
<br />performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably
<br />grants and conveys to Trustee, in trust, with power of sale, the following described property
<br />located in Hall County, Nebraska:
<br />That portion of the South Half of the Northeast Quarter (S1/2NE1/4) of Section
<br />Twenty-Six (26) which lies to the south of the Union Pacific Railroad Company
<br />right-of-way, and all of the Narth Half of the Southeast Quarter (N 1 /2SE1 /4) of said
<br />Section Twenty-Six (26), all in Township Ten (10) North, Range Twelve (12), West
<br />of the 6t" P.M., Hall County, Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected on the praperty, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafter a part of the praperty. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in
<br />this Security Instrument as the "Property".
<br />BORROWERS COVENANT that Barrowers are lawfully seised of the estate hereby
<br />conveyed and have the right to grant and convey the Property and that the Property is
<br />unencumbered. Borrowers warrant and will defend generally the title to the Property against all
<br />claims and demands, subject to any encumbrances of record.
<br />COVENANTS. Borrowers and Lender covenant and agree as follows:
<br />1. Payment of Principal; Prepayment and Late Charges. Borrowers shall promptly pay
<br />when due the principal on the debt evidenced by the Note and any prepayment and late charges
<br />due under the Note. Prepayment of principal or any part thereof, shall be allowed without the prior
<br />written consent of Lender.
<br />2. Charges; Liens. Borrowers shall pay all real estate taxes and assessments attributable
<br />to the Property which may attain priority over this Security Instrument, and leasehold payments
<br />or ground rents, if any.
<br />Borrowers shall promptly discharge any lien which has priority over this Security
<br />Instrument unless Borrowers: (a) agree in writing to the payment of the obligation secured by the
<br />lien in a manner acceptable to Lenders; (b) contest in good faith the lien by, or defend against
<br />enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the
<br />enforcement of the lien or forteiture of any part of the Property; or (c) secure from the holder of
<br />the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If
<br />Lender determines that any park of the Property is subject to a lien which may attain priority over
<br />this Security Instrument, Lender may give Borrowers a notice identifying the lien. Borrowers shall
<br />satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of
<br />notice.
<br />3. Hazard Insurance. If required by Lender, Borrowers shall keep any improvements now
<br />existing or hereafter erected on the Property insured against loss by fire, wind, or other natural
<br />disasters, hazards included within the term "extended coverage" and any other hazards forwhich
<br />Lender requires insurance. This insurance shall be maintained in the amounts and for the periods
<br />that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrowers
<br />subject to Lender's approval which shall not be unreasonably withheld.
<br />All insurance policies and renewals shall be acceptable to Lenders and shall include
<br />a standard mortgage clause. If Lender requires, Borrowers shall promptly give to Lender all
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