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WITNESSETH: IF THIS BOX IS CHECKED ®THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINBELOW. WHEREAS, Trustor is indebted to Beneficiary in the principal sum of .......One.Hundred Thirty- One.Thousand Seven .................... ...... Hundred......... Dollars $.... 13!,7QO,Q,Q ................ ) which indebtedness is evidenced by ar Trustor's promissory noted dated ...........Mch 1 2001 „ (hereinafter called the "Note "), payable to the order of Beneficiary and having a maturity of ......... November 1 ..2001 ............. NOW, THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions, modifications, substitutions, and renewals thereof; (b) payment of all other sums, fees, or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor, whether or not set forth herein; (c) performance, discharge of, and compliance with every term, covenant, obligation, and agreement of Trustor contained herein or incorporated by reference or any other security instrument at any time given to secure the Note; and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by beneficiary to Trustor or Trustor's successor in interest or title, all of which is hereinafter collectively called the "Indebtedness ", Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property: Lot Fifteen (15), Jeffrey Oaks Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska. togetherwith (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located thereon, (ii) all equipment, machinery, and fixtures (including without limitation, all lighting, heating, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical equipment, storm and screen windows, doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now or hereafter located thereon, (iii) all easements, rights of way appurtenant thereto, (iv) all leasehold estate, right and title and interest of Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of default exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and condemnation awards all of which is hereinafter collectively called the "Trust Property'. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title: Trustor covenants, warrants, and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property fee from any prior liens or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee may be required by any present or future law in order to perfect, maintain, and protect the lien of this Deed of Trust, as the same may be amended or supplemented from time to time. Trustor will make further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property. 2. Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby. Page 1 of 5 !1 M T M D. ,� Z D p ° C) —(n 1 o T (A N Z _ > M 2 � N C73 jU P1 = t — rn p Cc 1 a. oa o o ' z CA O CID CD ., o r— n ►—►.. cn CAD cn a rn CO 100101641 DEED OF TRUST This is a Construction Security Agreement. It secures an obligation which the borrower has and will incur for the purpose of making an improvement or improvements of the real estate in which the security interest is given. THIS DEED OF TRUST is made this .... 1st....... day of .................March 20.0.1 by and between Steven Olson and Kimberly Olson, husband and wife .................................................................. ............................... ..... .................... ........................whether one or more, (hereinafter called the "Trustor "), whose mailing address is 2020 E. 7th, Grand Island, NE 68801 .............................................................................................................................................................. ............................... . and Homestead Capital Company,. Inc ............................................................................ ............................... (hereinafter called the "Trustee "), whose mailing address is ........106 Main Street, Wayne, Nebraska 68787 ................................................ I...... and ........ Homestead Capital CompanY.�.lnc.... .. ..... ....... ...... .... ..... .... ..........8..7 ....... (hereinafter called the "Beneficiary "), whose mailing address is y..... 106 Main Street , Wa ne, Nebraska 87........6 ................................................................................ ............................... WITNESSETH: IF THIS BOX IS CHECKED ®THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTITUTES A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINBELOW. WHEREAS, Trustor is indebted to Beneficiary in the principal sum of .......One.Hundred Thirty- One.Thousand Seven .................... ...... Hundred......... Dollars $.... 13!,7QO,Q,Q ................ ) which indebtedness is evidenced by ar Trustor's promissory noted dated ...........Mch 1 2001 „ (hereinafter called the "Note "), payable to the order of Beneficiary and having a maturity of ......... November 1 ..2001 ............. NOW, THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions, modifications, substitutions, and renewals thereof; (b) payment of all other sums, fees, or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor, whether or not set forth herein; (c) performance, discharge of, and compliance with every term, covenant, obligation, and agreement of Trustor contained herein or incorporated by reference or any other security instrument at any time given to secure the Note; and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by beneficiary to Trustor or Trustor's successor in interest or title, all of which is hereinafter collectively called the "Indebtedness ", Trustor irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property: Lot Fifteen (15), Jeffrey Oaks Sixth Subdivision, in the City of Grand Island, Hall County, Nebraska. togetherwith (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located thereon, (ii) all equipment, machinery, and fixtures (including without limitation, all lighting, heating, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical equipment, storm and screen windows, doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now or hereafter located thereon, (iii) all easements, rights of way appurtenant thereto, (iv) all leasehold estate, right and title and interest of Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of default exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and condemnation awards all of which is hereinafter collectively called the "Trust Property'. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title: Trustor covenants, warrants, and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property fee from any prior liens or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee may be required by any present or future law in order to perfect, maintain, and protect the lien of this Deed of Trust, as the same may be amended or supplemented from time to time. Trustor will make further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property. 2. Payment of indebtedness. Trustor shall punctually pay the principal of and interest on the indebtedness secured hereby. Page 1 of 5