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<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is made this ~ day of Od~..u.{.) ,2005, by and among
<br />DOUGLAS C. LUTH and SHERRI L. LUTH, husband and wife, hereinafter referred to as "Trustor",
<br />whether one or more, whose mailing address is 4312 N. 90th Road, Cairo, Nebraska 68824;
<br />VINCENT L. DOWDING, Attorney at Law, hereinafter referred to as "Trustee," whose address is
<br />2121 N. Webb Road, Suite 210, P.O. Box 5315, Grand Island, NE 68803; and RONALD L. SMITH
<br />and SHARON SMITH, Husband and wife, asjointtenants, whose mailing address is P.O. Box 1941,
<br />Grand Island, Nebraska 68802, Beneficiary.
<br />
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to
<br />Trustee, in trust, with power of sale, for the benefit and security of Beneficiary, under and subject
<br />to the terms and conditions of this Deed of Trust, the following~described property, located in Hall
<br />County, Nebraska:
<br />
<br />Lot One (1) Grand Island Mall, Thirteenth Subdivision, Grand Island, Hall County,
<br />Nebraska.
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights,
<br />privileges and appurtenances located thereon or in any way pertaining thereto, and the rents, issues,
<br />profits, reversions and the remainders thereof, including all such personal property that is attached
<br />to the improvements so as to constitute a fixture, all of which, including replacements and additions
<br />thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed
<br />that all of the foregoing shall be hereinafter referred to as the "Property."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(a) the payment of indebtedness evidenced by Trustors' note of even date
<br />herewith in the principal sum of Two Hundred Ninety~Five Thousand and no/IOO
<br />Dollars ($295,000.00),together with interest at the rate or rates provided therein, or
<br />the principal and interest on any future advance as evidenced by promissory notes
<br />stating they are secured hereby, and any and all renewals, modifications and
<br />extensions of such notes, both principal and interest on the notes being payable in
<br />accordance with the terms set forth therein and the amortization schedule attached
<br />thereto, which by this reference are hereby made a part hereof;
<br />
<br />(b) the performance of each agreement and covenant of Trustor herein
<br />contained; and
<br />
<br />(c) the payment of any sum or sums of money which may be hereafter paid
<br />or advanced by Beneficiary under the terms of this Deed of Trust, together with
<br />interest thereon at the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />
<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on, the
<br />indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />
<br />2. Title. Trustor is the owner of the property and has the right and authority to execute this
<br />Deed of Trust in respect to the property.
<br />
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