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<br />m TRUST DEED ~`' `'~`~
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<br />""`~ THIS DEED OF TRUST is made on May ~~,' 2009. The Trustor is Sharon K. Bonsack,
<br />a single person, (hereinafter "Borrower"). The Trustee is Denise D. Myers, of Myers & Daugherty
<br />taw Office, 611 N. Diers Ave., Suite 1, Grand Island, Nebraska 68803, ('Trustee"). The
<br />beneficiaries are Phillip Dibbem and Lori L. Dibbern, husband and wife, 1787 S. Nebraska Hwy 11,
<br />Wood River, NE 68883, (Collectively "Lender"). Borrower owes Lender the principal sum of
<br />Twenty~faur Thousand and 00/100 Dollars ($24,000.00). This debt is evidenced by Borrower's note
<br />dated the same date as this Security Instrument ("Note'. The Deed of Trust (sometimes referred
<br />to herein as "security instrument") secures to Lender. (a) the repayment of the debt, evidenced by
<br />the Note, and all renewals, extensions and mad~catians; (b) the payment of all other sums
<br />advanced under paragraph 4 to protect the security of this Security Instrument; and (c) the
<br />performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably
<br />grants and conveys to Trustee, intrust, with power of sale, the following described property located
<br />in Hall County, Nebraska:
<br />Lot Eight (8), Block Fifty Three (53), Charles Wasmer's Second Addition, an
<br />Addition to the City of Grand Island, Hall County, Nebraska.
<br />TOGETHER WITH all the improvements now or hereafter erected an the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafter a part of the property- All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property".
<br />BORROWER COVENANTS that Bon'ower is lawfully seised of the estate hereby conveyed
<br />and have the right to grant and convey the Property and that the Property is unencumbered.
<br />Borrower warrants and will defend generally the title to the Property against all claims and
<br />demands, subject to any encumbrances of record.
<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payments. Borrower shall not be obligated to make any payments of principal or interest
<br />during Borrower's lifetime. Upon Borrower's death, the Note shall be due and payable out of the
<br />- -- proceeds of Borrower's estate. Prepayment of principal or any part thereof, shall be allowed
<br />without the prior written consent of Lender.
<br />2. Charges; Liens. Borrower shall pay all real estate taxes and assessments attributable
<br />to the Property which may attain priority over this Security Instrument, and leasehold payments or
<br />ground rents, if any. Borrower shall promptly discharge any lren which has priority over this
<br />Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured
<br />by the lien in a manner acceptable to Lenders; (b) contests in goad faith the lien by, or defend
<br />against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to
<br />prevent the enforcement of the lien or forfeiture of any part of the Property; ar (c) secures from the
<br />holder of the lien an agreement satisfactory to Lender subordinating the hen to this Security
<br />Instrument. If Lender determines that any part of the Property is subject to a lien which may attain
<br />priority over this Security Instrument, Lender may give Borrower a notice identifying the lien.
<br />Borrower shall satisfy the lien ar take one or more of the actions set forth above within 10 days of
<br />the giving of notice.
<br />3. Hazard Insurance. Borrower shall keep any improvements now existing or hereafter
<br />erected on the Property insured against lass by fire, wind, or other natural disasters, hazards
<br />included within the term "extended coverage".
<br />All insurance policies and renewals shall include a standard mortgage clause. If Lender
<br />requires, Borrower shall promptly give to Lender all receipts of paid premiums. In the event of loss,
<br />Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof
<br />of loss if not made promptly by Borrower.
<br />4. Protection of Lenders' Rights in the Property; Mortgage Insurance. If Borrower fails to
<br />perform the covenants and agreements contained in this Security Instrument, or there is a legal
<br />proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in
<br />bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and
<br />pay for whatever is necessary to protect the value of the Property and Lender's rights in the
<br />Property. Lender's actions may include paying any sums secured by a lien which has priority over
<br />this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the
<br />Property to make repairs. Although Lender may take action under this paragraph 4, Lender does
<br />not have to do so. Any amounts disbursed by Lender under this paragraph 4 shall become
<br />additional debt of Borrower secured by this Security Instrument.
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