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That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN TRUST, their heirs, devisees, personal representatives, successors and assigns, with power of sale, the following- described real property: The Westerly Twenty -Seven Feet (W27') of Lot Six (6), and the Easterly Forty -Eight Feet (E48') of Lot Seven (7) in Block Ten (10) in Parkhill Third Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY that they are lawfully seized and the owners of the above - described property; that they have good right and lawful authority to sell and convey said premises and that said premises are free and clear of all liens and encumbrances, and further, that TRUSTORS will warrant and defend the title to said premises forever against the claims of all persons whomsoever. For the purpose of securing performance of each agreement of TRUSTORS herein contained and the payment of SIXTY -TWO THOUSAND DOLLARS ($62,000), the TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of interest. and on the terms and conditions as set forth in such Trust Deed Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Trust Deed Note of even date, and in any event the entire principal balance due hereunder and any accrued interest shall be paid on November 1, 2004. All payments due hereunder shall be paid at the address of the BENEFICIARY as above described, or at such other place as such BENEFICIARY or the holders of said security shall designate in writing. All installment payments hereunder shall be applied first to the payment of interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has been provided to each of the parties hereto, and the remainder of each payment of such installment to be applied on principal. It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall: A. Retain possession of the property at all times, except as may be otherwise agreed by the parties in writing. B. Maintain the residence and any other improvements located on the real property in good condition and repair. C. Pay all general and special taxes and all special assessments of every kind levied or assessed against or due upon said property before delinquency, and to deliver to BENEFICIARY copies of receipts showing payment of such taxes each year. D. Procure and maintain policies of all -risk insurance on said improvements, in sums and underwritten by companies acceptable to the BENEFICIARY, in an amount at least equal to the property's full insurable value, which policies shall name the BENEFICIARY as additional insured, with the proceeds payable to the parties as their interests may appear hereunder. TRUSTORS agree to provide BENEFICIARY with copies of such policies or certificates of insurance during the term of this indebtedness, which policies of insurance may not be cancelled by said carrier without fifteen (15) days written notice to BENEFICIARY. E. In the event. the TRUSTORS fail or neglect to pay taxes and procure casualty insurance, all as above set forth, then BENEFICIARY may pay such taxes and procure such insurance, and all sums expended and advanced by BENEFICIARY and TRUSTEE in accordance with the provisions contained herein are secured hereby and, without demand, shall be immediately due and -1- M C M Vi Z _ o M Cn x < o n cn O Q m mom'{ -zi Q L7 CD o N O O C/J Z F�-+ W rn �.. A a) h-+ r-4- 1=7 O N �'. co DEED OF TRUST W v co < q N v� CD THIS TRUST DEED made this day of October, 2001, between ROBERT W. HARRIS and CATHY L. HARRIS, husband and wife, as TRUSTORS, whose address is 2501 W. Oklahoma, Grand Island, Nebraska 68803; OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, as TRUSTEE, whose address is 503 W. Koenig, Grand Island, Nebraska 68801; and TIM C. PLATE, a single person, whose address is 33 Kuester Lake, Grand C11 Island, Nebraska 68801, as BENEFICIARY. WITNESSETH: That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN TRUST, their heirs, devisees, personal representatives, successors and assigns, with power of sale, the following- described real property: The Westerly Twenty -Seven Feet (W27') of Lot Six (6), and the Easterly Forty -Eight Feet (E48') of Lot Seven (7) in Block Ten (10) in Parkhill Third Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY that they are lawfully seized and the owners of the above - described property; that they have good right and lawful authority to sell and convey said premises and that said premises are free and clear of all liens and encumbrances, and further, that TRUSTORS will warrant and defend the title to said premises forever against the claims of all persons whomsoever. For the purpose of securing performance of each agreement of TRUSTORS herein contained and the payment of SIXTY -TWO THOUSAND DOLLARS ($62,000), the TRUSTORS have executed a Trust Deed Note bearing even date, at the rate of interest. and on the terms and conditions as set forth in such Trust Deed Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Trust Deed Note of even date, and in any event the entire principal balance due hereunder and any accrued interest shall be paid on November 1, 2004. All payments due hereunder shall be paid at the address of the BENEFICIARY as above described, or at such other place as such BENEFICIARY or the holders of said security shall designate in writing. All installment payments hereunder shall be applied first to the payment of interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of which has been provided to each of the parties hereto, and the remainder of each payment of such installment to be applied on principal. It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall: A. Retain possession of the property at all times, except as may be otherwise agreed by the parties in writing. B. Maintain the residence and any other improvements located on the real property in good condition and repair. C. Pay all general and special taxes and all special assessments of every kind levied or assessed against or due upon said property before delinquency, and to deliver to BENEFICIARY copies of receipts showing payment of such taxes each year. D. Procure and maintain policies of all -risk insurance on said improvements, in sums and underwritten by companies acceptable to the BENEFICIARY, in an amount at least equal to the property's full insurable value, which policies shall name the BENEFICIARY as additional insured, with the proceeds payable to the parties as their interests may appear hereunder. TRUSTORS agree to provide BENEFICIARY with copies of such policies or certificates of insurance during the term of this indebtedness, which policies of insurance may not be cancelled by said carrier without fifteen (15) days written notice to BENEFICIARY. E. In the event. the TRUSTORS fail or neglect to pay taxes and procure casualty insurance, all as above set forth, then BENEFICIARY may pay such taxes and procure such insurance, and all sums expended and advanced by BENEFICIARY and TRUSTEE in accordance with the provisions contained herein are secured hereby and, without demand, shall be immediately due and -1-