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<br />TRUST DEED
<br />� THIS DEED OF TRUST is made on �, 2d10. The Trustor is Ryan J.
<br />Gannon, a singl� person, (hereinafter'"Borrower"). The Tru tee is Denise D. Myers, attorney at �
<br />law, of Myers 8� �augherty Law Office, fi11 N. Diers Ave., Suite 1, Grand Island, Nebraska 68$03, o
<br />("Trustee"'�. The beneficiaries are Merlin Rathman and Maxine Rathman as Trustees of the
<br />Rathman Family Trust, 11555 W. Guenther Rd., Wood River, NE 68883, ("Lender"). Barrower
<br />owes Lender the principal sum of One Hundred Eighty Thausand and 00/1 QO Dollars
<br />($180,OOO.QQ). This debt is evidenced by Borrower's note dated the same date as this Security
<br />Instrument ("Nate"), which provid�s for annual payments of principal and accrued interest. The
<br />Deed of Trust (sometimes referred to h�rein as "security instrument") secures to Lender: (a) the
<br />r�payment af the debt evidenced by the Note, and all renewals, extensions and modifications; (b)
<br />the payment of all other sums advanced under paragraph 4 to protect the security of this Security
<br />Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose,
<br />Borrower irrevocably grants and conveys ta Trustee, in trust, with pawer of sale, the fallowing
<br />d�scribed praperty located in Hall County, Nebraska:
<br />Lot Twen#y Five (25), Thelen Subdivisian, First Addition to the City of Wood River,
<br />Hall County, Nebr�ska.
<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 fi�ctures now or hereafter a part ofi the property. All replacements and
<br />additions shall also be covered by this Security fnstrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property".
<br />B�RROWER 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 #o the Property against all claims and
<br />demands, subject to any encumbrances of record.
<br />xi
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<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal; Prepayment and Late Charges. B�rrower shall promptly pay when
<br />due the principal and accrued interest �n the debt evidenced by the Note and any late charges due
<br />under the Nate. Prepayment of principal or any part thereof, shall be allowed without the prior
<br />written consent ofi Lender, with no penalty.
<br />2. Charges; Liens. Borrower shalt pay all real estate taxes and assessments attributable
<br />to the Property which may attain priority over this Security Instrument, and leasehold payments ar
<br />ground rents, if any.
<br />Borrower shall promptly discharge any lien which has priority over this Security
<br />Instrument unless Borrower: (a) agrees in writing ta the payment of the obligation secured by the
<br />lien in a manner acceptable to Lenders; (b) contests in good faith the lien by, or defends ag�inst
<br />enforcement of the lien in legal proceedings which in the Lender's opinion operate to prevent the
<br />enforcement of the lien ar forfeiture of any part of the Property; or (c) secures from the holder of
<br />the lien an agreem�nt satisfactory ta Lender subordinating the lien to this Security Instrument. If
<br />Lender determines that any part af the Property is subject to a lien which may attain priority over
<br />this Security Instrument, Lender may give Barrower a notice identifying the lien. Borrower shall
<br />satisfy the lien or take one or more of the actions set forth abave 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 lass 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 maintain�d in the amounts and far the p�riods
<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 ta L.ender 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, Borrawer shall give prompt notice to the insurance carrier
<br />and Lend�r. Lender may make proof of loss if not made promptly by Borrawer.
<br />4. Protection of �,enders' Rights in the Property; Mortgage Insurance. If Borrower fails to
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