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<br />200202002
<br />DEED OF TRUST
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<br />THIS DEED OF TRUST is made as of the s -( day of February, 2002, by and among
<br />WILLIAM MORGAN and VERA MORGAN, husband and wife, ( "TRUSTORS "), whose
<br />mailing address is: 1324 N. Broadwell Avenue, Grand Island, NE 68803;
<br />and TICOR TITLE INSURANCE COMPANY ( "TRUSTEE "), whose mailing address is:
<br />C/O Grand Island Abstract Co., 113 W. Second Street, Grand Island, NE 68801;
<br />and LARRY G. WELLS and KAREN E. WELLS, Trustees of the Wells Family Trust,
<br />( "BENEFICIARY ") whether one or more, whose mailing address is: 307 West 18th Street,
<br />Grand Island, NE 68801.
<br />FOR VALUABLE CONSIDERATION, Trustors irrevocably transfer, convey, and
<br />assign to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the real
<br />property located in the City of Grand Island, County of Hall, State of Nebraska, and legally
<br />described as follows: (the "Property "):
<br />A tract of land described as follows: Commencing at the southeast corner of
<br />a tract commonly know as "Huston's Reserve" and more particularly described in
<br />deed recorded in Book 86, Page 237 of the official deed records of Hall County,
<br />Nebraska, the same being a part of the Southeast Quarter of the Southeast Quarter
<br />(SE 1/4 SE '/4) of Section Eight (8), Township Eleven (11) North, Range Nine (9)
<br />West of the 6th P.M., in Hall County, Nebraska; and running thence west on the
<br />south line of said "Huston's Reserve" tract a distance of 138 1/2 feet; running thence
<br />north at right angles and parallel to the east side of said "Huston's Reserve" tract a
<br />distance of 44 feet; running thence east and parallel with the south line of "Huston's
<br />Reserve" tract a distance of 138 '/2 feet to the east side of said "Huston's Reserve"
<br />tract; and then running south and along and upon the east line of said tract a
<br />distance of 44 feet to the point of beginning.
<br />TOGETHER WITH all rents, easements, appurtenances, hereditaments, interests in
<br />adjoining roads, streets and alleys, improvements and buildings of any kind situated thereon
<br />and all personal property that may be or hereafter become an integral part of such buildings
<br />and improvements.
<br />The property and the entire estate and interest conveyed to the Trustee are referred to
<br />collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $36,066.09, with interest
<br />thereon, as evidenced by that certain Promissory Note of even date (the "Note ") with a
<br />maturity date of February 1, 2016, executed by Trustors, which has been delivered and is
<br />payable to the order of Beneficiary, and which by this reference is hereby made a part hereof,
<br />and any and all modifications, extensions and renewals thereof, and,
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with
<br />interest thereon at the rate of sixteen (16 %) percent per annum (default rate).
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