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<br />Return to: Duane A. Burns, P.O. Box 2300, Grand Island NE 68802-2300
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made as of the ��� day of October, 2011, by and among GRAND
<br />ISLAND CHRISTIAN SCHOOLS, Inc., a Nebraska Non-Profit Corporation, ("TRUSTOR"}, whose mailing
<br />address is: 1804 West State Street, Grand Isiand, Nebraska 68801 and DUANE A. BURNS, Attorney at
<br />Law, ("TRUSTEE"), whose mailing address is: P. O. Box 2300, Grand Island, Nebraska 68802 and the
<br />COMMUNiTY REDEVELOPMENT AUTHORITY OF THE CITY O� GRAND ISLAND NEBRASKA,
<br />{"BEMEFICIARY"}, whose mailing address is: P. O. Box 1968, Grand Island, Nebraska 68802.
<br />FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys, and assigns to
<br />Trustee, IN TRUST, WITH POVVER OF SALE, fo� the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the real property located in the County of Hall,
<br />State of Nebraska, and legally described as follows: (the "Property"):
<br />Lots One (1), Three (3), Five (5}, Seven (7), Eight (8), Nine (9), Ten (10), Eleven
<br />(11), Twelve (12), Thirteen (13) and Fourteen (14} of Block Twenty Nine (29) of Gilbert's
<br />Third Addition_ to the City of Grand Island, Hall County, Nebraska.
<br />TOGETHER W1TH all rents, easements, appurtenances, hereditaments, interests in adjoining
<br />roads, streets and alleys, improvements and buiidings of any kind situated thereon and all personal
<br />property that may be or hereafter become an integrai part of such buildings and improvements.
<br />The property and the entire estate and interest conveyed to the Trustee are referred to collectively
<br />as the "Trust Estate".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $129,000.00 with no interest thereon,
<br />as evidenced by that certain Promissory Note of even date (the "Note") with a maturity date of November
<br />1, 2021 executed by Trustor which has been delivered and is payable to the order of Beneficiary, and
<br />which by this reference is hereby made a part hereof, and any and all modifications, extensions and
<br />renewals thereof, and,
<br />thereon.
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with no interest
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the
<br />payment and performance of any obligation secured hereby are referred to collectively as the "Grant
<br />Instruments".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUS7:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the indebtedness evidenced by
<br />the Note, charges, fees and all other sums as provided in the Grant Instruments.
<br />2. TAXES. Trustor shall pay each installment of all taxes and special assessments of every kind,
<br />now or hereafter levied against the Trust Estate or any part hereof, before delinquency, without notice or
<br />demand, and shall provide Beneficiary with evidence of the payment of same. Trustor shall pay all taxes
<br />and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the
<br />debt secured hereby, without regard to any law that may be enacted imposing payment of the whofe or
<br />any part thereof upon the Beneficiary.
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