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Ub 1b4 /'Lbb1 14:30 308- 234 -4218 1VRllIK LAW OFFICE PAGE 02 200105298 hereafter erected or placed thereon, including, but not limited to, the fixtures, attachments, appliances and other articles attached to such buildings and improvements, and (d) All sums of money payable on the purchase price of the above - described real estate secured by a lien thereon or payable under any agreement for the sale thereof. All of the foregoing is referred to in this Trust Deed as the "Property." FOR THE PURPOSE OF SECURING: (A) Payment of indebtedness in the total principal amount of Thirty Thousand Dollars ($30,000.00), with interest thereon, evidenced by that certain promissory note of even date herewith (the "Note ") with a maturity date of July 1, 2006, executed by Trustor, which has been delivered and is payable to the order of Beneficiary, and which, together with any and all modifications, extensions and renewals thereof, is hereby (made a part hereof by this reference; (133) Payment of all swans advanced by Beneficiary to protect the Property with interest thereon at the rate of fourteen percent (14 %) per annum; (C) Payment of any and all other amounts or sums required to be paid by or that are an obligation of Trustor under this Trust Deed or the Note; and (D) Performance by Trustor of each and every agreement and covenant requited to be performed by Thwor under this Trust Deed, the Note, or other agreement incorporated herein by reference. Trustor jointly and severally covenants that Trustor is lawfijlly seised of such Property and that it is free from encumbrance, subject, however, to patent reservations, to existing roads, and to existing easements of record; that Trustor has legal power and lawful authority to execute this Trust Deed; and Trustor warrants and will defend title to the property against the lawful claims of all persons. To Protect the Security of this Trust Deed, Trustor and Beneficiary convent and agree as follows: Payment of Note- Trustor shall prompily ray when due the principal of and interest on the debt evidenced by the Trust Deed and the Now of even date herewith, the last installment of which is due July 1, 2006, together with all sums advanced by Beneficiary to protect the Property, with interest thereon at the default rate provided in the Note, and all other charges, fees, and other sums as provided in this Trust Deed and the Note. 2_ Taxes & AssessMents. Trustor will pay all real estate taxes, personal property taxes, license fees, and assessments, general and special, which are levied, assessed or imposed on the Property, including any tax levied on the debt secured hereby, when they become due and before they become delinquent and to provide Beneficiary with paid receipts therefor. Insurance. Trustor shall maintain and keep in force fire insurance and extended ( "all risks ") insurance coverage on all real and personal property subject to this Trust Deed with insurance companies acceptable to Beneficiary and in amounts not less than the full replacement value of such property with a co-insurance feature not to exceed 80% of replacement cost. All insurance policies required under this paragraph shall provide that losses shall be payable under a standard mortgage clause to PAGE 2 OF 11 PAGES