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Al i THIS TRUST DEED is made and entered into this 4th day of December, 2001 by and between REIS CONSTRUCTION, INC., TRUSTOR, whether one or more; and FIDELITY NATIONAL TITLE INSURANCE COMPANY, TRUSTEE; and Jeffrey Oaks, Inc., BENEFICIARY, whether one or more. WITNESSETH: That the Trustor does by these presents grant, bargain, sell, convey and confirm unto the Trustee, with Power of Sale, the following- described real estate including all buildings, improvements, and fixtures of every kind now or hereafter erected or placed on the real estate situated in Hall County, Nebraska, described as: Lot Twenty-Eight (28), Jeffrey Oaks Eighth Subdivision, in the City of Grand Island, Hall County, Nebraska. In the event of the sale, transfer or conveyance of the above - described property to any third party, all sums secured hereby shall be at once due and payable. TO HAVE AND HOLD the same, with all rights, privileges, and appurtenances thereunto belonging, unto the Trustee, his executors, administrators, heirs and assigns forever. And the Trustor hereby expressly waives, releases, and relinquishes unto the Trustee all right, title, claim, interest, benefit and estate whatever, in and to the above described premises and each and every part thereof, which is given by or results from all laws of the State of Nebraska pertaining to the exemption of homestead. And the Trustor covenants with the Trustee that he will forever warrant and defend the title to the same against the lawful claims of all persons whomsoever. IN TRUST, HOWEVER, for the following described purposes: WHEREAS, the Trustor did on this date execute a Promissory Note evidencing a loan for the principal sum of $22,000.00 and interest thereon according to the terms of said Promissory Note, being payable in monthly installments at such place as the Beneficiary may designate in writing from time to time. Notwithstanding any provision contained herein or in said Promissory Note to the contrary, if not sooner paid, all sums due and owing under the terms of said Note shall be paid on the 4th day of December, 2002. In the event of default, Beneficiary's remedies shall not be limited to those provided for herein. This Trust Deed may be foreclosed in the manner perscribed by law for foreclosure of mortgages. IT IS AGREED by and between the parties hereto that the Trustor shall: (1) pay all present and future taxes and assessments, general and special, against said property before the same become ehnquent or actionable; (2) keep all improvements erected on the land insured as may be required from time to time by Beneficiary against loss by fire and other hazards, casualties and contingencies, in such amounts and for such periods as are reasonable and may be required by the Beneficiary, and to keep all policies of such insurance in force and effect and delivered to the Beneficiary, and naming Trustor and Beneficiary as loss payees, as their interests may appear; (3) pay and comply with all of the terms and conditions of any lien, claim or indebtedness that may be senior to and take precedence over this Trust Deed as soon as such payment on or of such lien, claim or indebtedness shall become due; and upon failure of the Trustor to keep any of said agreements, the said Beneficiary may pay such tax, pay for such insurance, or pay off any and all such liens, or indebtedness as the case may be, and money expended, with interest as provided by the terms of the aforementioned Promissory Note, shall be secured by this Trust Deed, and the Trustor agrees to pay the same upon demand, and upon failure to do so, the balance of said Promissory note shall become immediately due and payable at the option of the Beneficiary; (4) specifically confer upon the Trustee the Power of Sale as provided in Nebraska law; (5) retain possession of the premises and collect the rents and revenues therefrom; (6) maintain the Property in a condition of maintenance and repair such that the interest of Trustee and Beneficiary are not reduced in value through waste. Failure to comply with any of the foregoing provisions shall constitute an event of default under the terms of this Trust Deed. ABANDONMENT OF THE PROPERTY BY TRUSTOR. In the event that Trustor abandons the property, or if circumstances reasonably indicate that Trustor has abandoned the Property whether or not in connection with any other event of default, Beneficiary shall have the right, following filing of Notice of Default, to enter upon the premises for the purpose of securing the same and for carrying out any other measures necessary to protect and preserve the interests of the Beneficiary in and to the Property. Trustor specifically agrees to hold Trustee and Beneficiary and their employees, servants and agents harmless for any damages unavoidably inflicted upon the Property in connection with the exercise of rights arising under this Paragraph, and hereby waives any cause of action arising therefrom. Upon payment of all sums secured by this Trust Deed, the Beneficiary shall request the Trustee, in writing to reconvey the property and shall surrender this Trust Deed and all notes evidencing indebtedness secured by this Trust Deed to the Trustee. Trustee shall reconvey the property without warranty to the person or persons legally entitled thereto; but if default be made in the payment of said Note or any part thereof or any of the interest thereon when due or in the faithful performance of any or either of said agreements as aforesaid, then the whole of said Note shall become due and be paid as hereinafter provided, and this deed shall remain in force. The Trustee or his attorney may then proceed to sell the property in its entirety or in parcels at the option of the Trustee, hereinbefore described at public auction, to the highest bidder for cash. T P t R CD C3 --I CD 4 N cm� n o O Y O `*t O CA Q CD M " D M D co C0111 r— N � U) N U) 7C Cn C43 Ul D v `.. C.11 Cn ry (n O [Space Above This Line For Recording Data] TRUST DEED �D ' S,) THIS TRUST DEED is made and entered into this 4th day of December, 2001 by and between REIS CONSTRUCTION, INC., TRUSTOR, whether one or more; and FIDELITY NATIONAL TITLE INSURANCE COMPANY, TRUSTEE; and Jeffrey Oaks, Inc., BENEFICIARY, whether one or more. WITNESSETH: That the Trustor does by these presents grant, bargain, sell, convey and confirm unto the Trustee, with Power of Sale, the following- described real estate including all buildings, improvements, and fixtures of every kind now or hereafter erected or placed on the real estate situated in Hall County, Nebraska, described as: Lot Twenty-Eight (28), Jeffrey Oaks Eighth Subdivision, in the City of Grand Island, Hall County, Nebraska. In the event of the sale, transfer or conveyance of the above - described property to any third party, all sums secured hereby shall be at once due and payable. TO HAVE AND HOLD the same, with all rights, privileges, and appurtenances thereunto belonging, unto the Trustee, his executors, administrators, heirs and assigns forever. And the Trustor hereby expressly waives, releases, and relinquishes unto the Trustee all right, title, claim, interest, benefit and estate whatever, in and to the above described premises and each and every part thereof, which is given by or results from all laws of the State of Nebraska pertaining to the exemption of homestead. And the Trustor covenants with the Trustee that he will forever warrant and defend the title to the same against the lawful claims of all persons whomsoever. IN TRUST, HOWEVER, for the following described purposes: WHEREAS, the Trustor did on this date execute a Promissory Note evidencing a loan for the principal sum of $22,000.00 and interest thereon according to the terms of said Promissory Note, being payable in monthly installments at such place as the Beneficiary may designate in writing from time to time. Notwithstanding any provision contained herein or in said Promissory Note to the contrary, if not sooner paid, all sums due and owing under the terms of said Note shall be paid on the 4th day of December, 2002. In the event of default, Beneficiary's remedies shall not be limited to those provided for herein. This Trust Deed may be foreclosed in the manner perscribed by law for foreclosure of mortgages. IT IS AGREED by and between the parties hereto that the Trustor shall: (1) pay all present and future taxes and assessments, general and special, against said property before the same become ehnquent or actionable; (2) keep all improvements erected on the land insured as may be required from time to time by Beneficiary against loss by fire and other hazards, casualties and contingencies, in such amounts and for such periods as are reasonable and may be required by the Beneficiary, and to keep all policies of such insurance in force and effect and delivered to the Beneficiary, and naming Trustor and Beneficiary as loss payees, as their interests may appear; (3) pay and comply with all of the terms and conditions of any lien, claim or indebtedness that may be senior to and take precedence over this Trust Deed as soon as such payment on or of such lien, claim or indebtedness shall become due; and upon failure of the Trustor to keep any of said agreements, the said Beneficiary may pay such tax, pay for such insurance, or pay off any and all such liens, or indebtedness as the case may be, and money expended, with interest as provided by the terms of the aforementioned Promissory Note, shall be secured by this Trust Deed, and the Trustor agrees to pay the same upon demand, and upon failure to do so, the balance of said Promissory note shall become immediately due and payable at the option of the Beneficiary; (4) specifically confer upon the Trustee the Power of Sale as provided in Nebraska law; (5) retain possession of the premises and collect the rents and revenues therefrom; (6) maintain the Property in a condition of maintenance and repair such that the interest of Trustee and Beneficiary are not reduced in value through waste. Failure to comply with any of the foregoing provisions shall constitute an event of default under the terms of this Trust Deed. ABANDONMENT OF THE PROPERTY BY TRUSTOR. In the event that Trustor abandons the property, or if circumstances reasonably indicate that Trustor has abandoned the Property whether or not in connection with any other event of default, Beneficiary shall have the right, following filing of Notice of Default, to enter upon the premises for the purpose of securing the same and for carrying out any other measures necessary to protect and preserve the interests of the Beneficiary in and to the Property. Trustor specifically agrees to hold Trustee and Beneficiary and their employees, servants and agents harmless for any damages unavoidably inflicted upon the Property in connection with the exercise of rights arising under this Paragraph, and hereby waives any cause of action arising therefrom. Upon payment of all sums secured by this Trust Deed, the Beneficiary shall request the Trustee, in writing to reconvey the property and shall surrender this Trust Deed and all notes evidencing indebtedness secured by this Trust Deed to the Trustee. Trustee shall reconvey the property without warranty to the person or persons legally entitled thereto; but if default be made in the payment of said Note or any part thereof or any of the interest thereon when due or in the faithful performance of any or either of said agreements as aforesaid, then the whole of said Note shall become due and be paid as hereinafter provided, and this deed shall remain in force. The Trustee or his attorney may then proceed to sell the property in its entirety or in parcels at the option of the Trustee, hereinbefore described at public auction, to the highest bidder for cash.