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<br />DEED OF TRUST ~~
<br />THIS DEED OF TRUST, is made as of the ~a day of August ~ 2010, by The Church of God New
<br />Jerusalem, a Corporation ("Trustor") whose mailing address is 720 E. 6~h Street, Lexington NE 68850 and among James
<br />A. Wagoner ("Trustee") whose mailing address is 1819 West North Front Street, P.O. Box 1 SBS, Grand Island NE 68802-
<br />1585 and Sam Grimminger and Kay Grimminger, husband and wife, as joint tenants with right of survivorship and not as
<br />tenants in common ("Beneficiary") whose mailing address is 325 West Fourth Street, PO Box 574, Grand Island NE
<br />68802-0574.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the real property located in the City of Grand Island, County of Hall, State of Nebraska,
<br />and legally described as follows (the "Property"):
<br />Lat Two (2), Grimminger Subdivision, City of Grand Island, Hall County, Nebraska
<br />TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads, streets and
<br />alleys, improvements and buildings of any kind situated thereon and all personal property that may be or hereafter become
<br />an integral part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust
<br />Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />Payment of indebtedness in the total principal amount of $60,000.00, with interest thereon, as evidenced by that
<br />certain promissory note of even date (the "Note") executed by Trustor, which has been deNvered and is payable to the
<br />order of Beneficiary, and which by this reference is hereby made a part hereof, and any and all modifications, extensions
<br />and renewals thereof, and provides for payment of said secured amount of $60,000.00 as follows:
<br />1. $800.00 per month for a period of 48 months commencing August 1, 2010 together with interest thereon
<br />at the rate of four percent (4%) per annum with the first payment being due September 1, 2010;
<br />2. That the balance of said secured amount at the end of said 48 month period, to wit: the sum of $28,$24.25
<br />together with interest at the rate of $96.08 shall be due and payable on or before October 1; 2014.
<br />3. The performance of Trustor's covenants and agreements.
<br />(Said payment provisions set forth in paragraphs I and 2 above are based upon an amortization as
<br />per the following factors: principle amount of $60,000.00; an interest rate of 4% per annum; forty-
<br />eight (48) monthly payments and a final balloon payment aU according to the tenure and effect of a
<br />certain promissory note of even date with this dacumeut.)
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and
<br />performance of any obligation secured hereby are referred to collectively as the "Loan Instruments".
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