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<br />This DEED OF TRUST is made as of the 9h day of September, 2004 by and among the Trustor, Raymond
<br />J. O'Connor and Jennifer S. O'Connor, husband and wife, whose mailing address for purposes of this Deed of Trust
<br />is PO Box 139, Grand Island, Nebraska 68802 -0139 (herein, "Trustor ", whether one or more), the Trustee,
<br />AREND R. BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is
<br />P. O. Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "), and the Beneficiary, HOME FEDERAL
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand
<br />Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />Raymond J. O'Connor and Jennifer S. O'Connor (herein "Borrower ", whether one or more), and the trust herein
<br />created, the receipt of which is hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and
<br />assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of the Lender, under and sub-
<br />ject to the terms and conditions hereinafter set forth, legally described as follows:
<br />THE WEST FORTY -FOUR FEET (44') OF LOT FOUR (4), BLOCK SIXTY -THREE (63),
<br />ORIGINAL TOWN, NOW CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a Deed of
<br />Trust Note dated September 9, 2004, having a maturity date of October 1, 2014, in the original principal amount of
<br />Ninety Thousand and 00 /100 Dollars ($90,000.00), and any and all modifications, extensions and renewals thereof
<br />or thereto and any and all future advances and re- advances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums
<br />advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements of
<br />Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if
<br />more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or
<br />otherwise executed in connection therewith, including without limitation guarantees, security agreements and assign-
<br />ments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquent all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to
<br />Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
<br />may determine, (ii) to the Trustor to be used for the repair or restoration of the Property , or (iii) for any other
<br />purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
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