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DEED OF TRUST THIS TRUST DEED made this 11th day of June 2004, between GERALD L. POSEY si gle a son, as TRUSTOR, whose address is 824 W. 9th Street, Grand Island, Ike ras�ca 6�8Or1 John M. Cunningham, Attorney at Law, a member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 North Cedar Street, P.O. Box 2280, Grand Island, Nebraska, 68802; and PROPERTY II, L.L.C., a Nebraska limited liability company, whose addressis P. 0. Box 1022, Grand Island, NE 68802 , as BENEFICIARY. WITNESSETH: That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and assigns, with power of sale, the following- described real property: Lot Six ( 6) , in Block Four ( 4) , of H. G. Clark's Addition to the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY that he is lawfully seized and the owner of the above - described property; that he has 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 TRUSTOR 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 TRUSTOR herein contained and the payment of TWO THOUSAND THREE HUNDRED SEVENTY -FIVE DOLLARS ($2,375.00), the TRUSTOR has 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 June 1, 2009. 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 TRUSTOR 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. TRUSTOR 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 TRUSTOR fails or neglects 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 -1- r � 70 C*l 9'c �� o� =� to a �= 2 __4 ni p N ii En Q '' i'r O *1 0 .+ �1 �t C.} O O° co CT) c C:) DEED OF TRUST THIS TRUST DEED made this 11th day of June 2004, between GERALD L. POSEY si gle a son, as TRUSTOR, whose address is 824 W. 9th Street, Grand Island, Ike ras�ca 6�8Or1 John M. Cunningham, Attorney at Law, a member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 North Cedar Street, P.O. Box 2280, Grand Island, Nebraska, 68802; and PROPERTY II, L.L.C., a Nebraska limited liability company, whose addressis P. 0. Box 1022, Grand Island, NE 68802 , as BENEFICIARY. WITNESSETH: That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and assigns, with power of sale, the following- described real property: Lot Six ( 6) , in Block Four ( 4) , of H. G. Clark's Addition to the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARY that he is lawfully seized and the owner of the above - described property; that he has 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 TRUSTOR 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 TRUSTOR herein contained and the payment of TWO THOUSAND THREE HUNDRED SEVENTY -FIVE DOLLARS ($2,375.00), the TRUSTOR has 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 June 1, 2009. 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 TRUSTOR 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. TRUSTOR 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 TRUSTOR fails or neglects 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 -1- r �