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<br />DEED OF TRUST
<br />THIS TRUST DEED made this f0/ day of January, 2005, between
<br />RICHARD S. RASMUSSEN, JR., A Single Person, as TRUSTOR, whose
<br />address is 2840 S. Locust Street, Grand Island, Nebraska 68801;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association,
<br />as TRUSTEE, whose address is 222 N. Cedar Street, P. 0. Box 2280,
<br />Grand Island, Nebraska 68802; and RICHARD S. RASMUSSEN, SR., A
<br />Single Person, hereinafter referred to as BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, all of the Grantor's undivided one -third (1/3)
<br />interest in the following- described real property:
<br />Tract 1. The Westerly One Hundred Forty Feet (1401) of
<br />Lots Six (6) and Eight (8), in Woodland First
<br />Subdivision, An Addition to the City of Grand Island,
<br />Hall County, Nebraska;
<br />Tract 2. The Westerly One Hundred Forty Feet (140') of Lot
<br />One (1) , in Woodland Third Subdivision, An Addition to the
<br />City of Grand Island, Hall County, Nebraska;
<br />Tract 3. The Southerly Seventy -Five Feet (75') of the
<br />Easterly Two Hundred Sixty Feet (260') of Lot One (1) , in
<br />Woodland Third Subdivision, An Addition to the City of Grand
<br />Island, Hall County, Nebraska; and
<br />Tract 4. The Northerly Fifty Feet (501) of the Easterly Two
<br />Hundred Sixty Feet (2601) of Lot Six (6), in Woodland First
<br />Subdivision, An Addition to the City of Grand Island, Hall
<br />County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants with the TRUSTEE and BENEFICIARY
<br />that TRUSTOR is lawfully seized and the owner of an undivided one -
<br />third (1/3) interest in the above - described property; that he has
<br />good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and
<br />encumbrances, and further, that TRUSTOR will warrant and defend the
<br />title to his undivided one -third (1/3) interest to said premises
<br />forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of a Promissory Note of
<br />ONE HUNDRED THOUSAND DOLLARS ($100,000.00), the TRUSTOR has
<br />executed a Promissory Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Note
<br />until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Note of
<br />even date, and in any event the entire principal balance due
<br />hereunder and any accrued interest shall be paid on December 10,
<br />2014. All installment payments hereunder shall be applied first to
<br />the payment of interest computed annually on the unpaid balance,
<br />pursuant to an Amortization Schedule, a copy of which has been
<br />provided to each of the parties hereto, and remainder of each
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<br />THIS TRUST DEED made this f0/ day of January, 2005, between
<br />RICHARD S. RASMUSSEN, JR., A Single Person, as TRUSTOR, whose
<br />address is 2840 S. Locust Street, Grand Island, Nebraska 68801;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State Bar Association,
<br />as TRUSTEE, whose address is 222 N. Cedar Street, P. 0. Box 2280,
<br />Grand Island, Nebraska 68802; and RICHARD S. RASMUSSEN, SR., A
<br />Single Person, hereinafter referred to as BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, all of the Grantor's undivided one -third (1/3)
<br />interest in the following- described real property:
<br />Tract 1. The Westerly One Hundred Forty Feet (1401) of
<br />Lots Six (6) and Eight (8), in Woodland First
<br />Subdivision, An Addition to the City of Grand Island,
<br />Hall County, Nebraska;
<br />Tract 2. The Westerly One Hundred Forty Feet (140') of Lot
<br />One (1) , in Woodland Third Subdivision, An Addition to the
<br />City of Grand Island, Hall County, Nebraska;
<br />Tract 3. The Southerly Seventy -Five Feet (75') of the
<br />Easterly Two Hundred Sixty Feet (260') of Lot One (1) , in
<br />Woodland Third Subdivision, An Addition to the City of Grand
<br />Island, Hall County, Nebraska; and
<br />Tract 4. The Northerly Fifty Feet (501) of the Easterly Two
<br />Hundred Sixty Feet (2601) of Lot Six (6), in Woodland First
<br />Subdivision, An Addition to the City of Grand Island, Hall
<br />County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants with the TRUSTEE and BENEFICIARY
<br />that TRUSTOR is lawfully seized and the owner of an undivided one -
<br />third (1/3) interest in the above - described property; that he has
<br />good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and
<br />encumbrances, and further, that TRUSTOR will warrant and defend the
<br />title to his undivided one -third (1/3) interest to said premises
<br />forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of a Promissory Note of
<br />ONE HUNDRED THOUSAND DOLLARS ($100,000.00), the TRUSTOR has
<br />executed a Promissory Note bearing even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Note
<br />until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Note of
<br />even date, and in any event the entire principal balance due
<br />hereunder and any accrued interest shall be paid on December 10,
<br />2014. All installment payments hereunder shall be applied first to
<br />the payment of interest computed annually on the unpaid balance,
<br />pursuant to an Amortization Schedule, a copy of which has been
<br />provided to each of the parties hereto, and remainder of each
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