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<br />TRiiCT T)F.FIl
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<br />This Trust Dccd is executed on the date shown on the last page, by and among Grand Island Area Flabitat I'or Humanity, 410 W. 2"`~
<br />Street, Grand Island, NG 68801, hereinafter called the "Developer" or the "Trustor" and Wcslcy D. Ncspor, Attorney ai Law, whose address is 100
<br />h:. First Street, Grand Island, Nebraska 68801, hereinafter called the ""Trustee", and The City of Grand Island, Nebraska., hereinafter called the
<br />"City" or the "Beneficiary".
<br />Uevelvper is obligated to City under the terms of a Development Agreement dated December 15, 2009 by and between the Developer
<br />and the Cily (the "Development Agreement"). This Trusi Deed secures the obligations of Dcvclopcr under the Develvpment Agreement (as it
<br />relates io Che Property only) and all extensions, modifications and renewals thereof_(as it relates to the Property only),
<br />"1•he City desires to secure timely and full performance of the covenants, conditions and terms contained in this instrument a~~d any other
<br />documents related thereto.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to Trustee, in trust, with power of
<br />sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Trust Deed, the Trustor's
<br />interest in the following-described property located in the County of Hall, Nebraska, to-wit:
<br />The Backer Subdivision, Lot F to the City of Grand Island, Hall County, Nebraska.
<br />(a/k/a 1128 N. Cherry St.) together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in any way pertaining thereto, and the rents, issues, profits, reversions and remainders thereof; including all such
<br />personal property that is attached to the improvements so as to constitute a fixture, all of which, including replacements and additions thereto, arc
<br />hereby declared to be a part of the real estate conveyed in trust hereby, ii being agreed that all of the foregoing shall be hereinafter referred to ors the
<br />"Property."
<br />1. Title. Ueveloper covenants that Dcvclopcr is lawfully seized of fee simple title to the Property, tree from encumhrances,
<br />2. Warranty. Developer will have the right and power to convey absolute title in tee simple and will warrant and defend the title to the
<br />Property against all claims whatsoever except as mentioned.
<br />3. Performance ofPerformance of Obligations. Upon the full payment of all indebtedness or full pertonnancc of all obligations secured by this 'Crust
<br />Ueed and the payment ol'all charges and expenses incurred by the Trustee, the "Trustee shall release and reconvcy the Property to the Ueveloper or
<br />to any party then claiming through the Ueveloper.
<br />4. Payment and Performance. All construction financing and other sums or obligations secured by this instrument will be paid or
<br />performed when due and the terms and conditions of this instrument and other instn~ments related to the indebtedness or obligation secured by this
<br />'Trust Decd will be performed in accordance with the terns of the instrument. This Trust Ueed has been granted I'or the purpose of securing the
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