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<br />LAWRECE J. LEVERING and SARAH L. LEVERING, husband and wife, as TRUSTORS, whose
<br />address is 3551 North U.S. Highway 281, Grand Island, Nebraska 58801; John M.
<br />Cunningham, a member of the Nebraska State Sar Association, as TRUSTEE, whose
<br />address is 222 N. Cedar Street, Grand Island, Nebraska 68$01; and RANDALL J.
<br />LEVERING and REBECCA R. LEVERING, husband and wife, whose address is 800 Red
<br />Mills Road, Wallkill, New Xork 12589, as BENEFICIARIES.
<br />WITNESSETH:
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<br />THIS TRUST DEED made this vl day of /~'i~4 , 2010, between
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<br /> DEED QF TRUST
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<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, their heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following-described real property:
<br />PART OF LOT ONE (1) OF GARRETT'S SUBDIVISION OF PART
<br />OF THE EAST HALF (E1/2) OF SECTION NINE (9), IN
<br />TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9) WEST OF
<br />THE 6TH P.M., HALL COUNTY, NEBRASKA, more particularly
<br />described as follows: 122.55 feet North and 33 feet
<br />West of the Southeast Corner of the Northeast Quarter
<br />Of Section Nine (9), which point is 92 feet North of
<br />the Southeast Corner of said Lot One (1), running
<br />thence West at right angles 190.0 feet, thence
<br />running North parallel to the East line of said
<br />Lot One (1) 60 feet, thence running East to the
<br />East line of said Lot One (1), thence running South
<br />60 feet to the place of beginni~ig
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that they are lawfully seized and the owners of the above described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises
<br />forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of SIXTY THOUSAND DOLLARS ($60,000.00), the
<br />TRUSTORS have executed a Loan Agreement bearing even date, at the rate of E'ive
<br />and One-Half Percent (5.5$) per annum interest and on the terms and conditions
<br />as set forth in such Laan Agreement until paid. The interest shall be payable
<br />in accordance with and upon the terms and conditions of said Loan Agreement of
<br />even date. All payments due hereunder shall be paid at the address of the
<br />BENEFICIARIES as above described, or at such other place as such BENEFICIARIES
<br />or the holders of said security shall designate in writing. All installment
<br />payments hereunder shall be applied first to the payment of interest on the
<br />principal balance, pursuant to the Amortization Schedule, a copy of which has
<br />been provided to each of the parties hereto.
<br />It is ag.r.eed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be
<br />otherwise agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the
<br />real property in good condition and repair.
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