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<br /> TRUST DEED
<br /> THIS DEED OF TRUST is made on ./Cole ~ , 2010. The Trustor is Lyman C. ZD ~o
<br /> Pedersen, as Trustee of the Marian L. Bowers Revocable Living Trust, ("Borrower"). The Trustee
<br /> is Denise D. Myers, of Myers & Daugherty, 611 N. Diers Ave. Ste. 1, Grand Island, Nebraska
<br /> 68803, ("Trustee"). The beneficiaries are Lyman C. Pedersen and Carol Pedersen, husband and
<br /> wife, 6633 Mount Whitney Drive, Buena Park, CA 9.0620, (collectively, ".Lender"). Borrower owes
<br /> Lender the principal sum of Twenty Thousand and 00/100 Dollars ($20,000.00). This debt is
<br /> evidenced by Borrowers' note dated the same date as this Security Instrument ("Note"), which
<br /> provides far payment of principal, with interest from and after April 1, 2010, at the rate of three and
<br /> three tenths percent (3.30%) per annum, on demand. The Deed of Trust (sometimes referred to
<br /> herein as "security instrument") secures to Lender: (a) the repayment of the debt evidenced by the
<br /> Note, and all renewals, extensions and modifications; (b) the payment of all other sums advanced
<br /> under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of
<br /> Borrowers' covenants and agreements. For this purpose, Borrowers irrevocably grant and convey
<br /> to Trustee, in trust, with power of sale, the following described property located in Hall County,
<br /> Nebraska:
<br />Lot One (1), Harrison's Second Subdivision to the City of Grand Island, Hall County,
<br />Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, 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 property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property".
<br />BORROW ER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
<br />and has the right to grant and convey the Property and that the Property is unencumbered.
<br />Borrower warrants and will defend generally the title to the Property against all claims and
<br />demands, subject to any encumbrances of record.
<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal; Prepayment and Late Charges. Borrower shall promptly pay when
<br />due the principal and accrued interest on the debt evidenced by the Note and any prepayment and
<br />late charges due under the Note. Prepayment of principal or any part thereof, shall be allowed
<br />without the prior written consent of Lender.
<br />2. Charges; Liens. Borrower shall pay all real estate taxes and assessments attributable
<br />to the Property which may attain priority over this Security Instrument, and leasehold payments or
<br />ground rents, if any.
<br />Borrower 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 goad 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 forfeiture of any part of the Property; or (c) secure from the holder of the
<br />lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If
<br />Lender determines that any part 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, Borrower 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 for which
<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 Borrower
<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, Borrower shall promptly give to Lender all receipts
<br />of paid premiums. In the event of loss, Borrower shall give prompt notice to the insurance carrier
<br />and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />4. Protection of Lenders' Rights in the Property; Mortgage Insurance. If Borrower fails to
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