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DEED OF TRUST THIS TRUST DEED made this ! 7 day of 200 5 , between THIS J. LEVERING and SARAH LYNN LEVERIN , Husband and Wife, as TRUSTORS, whose address is Grand Island, Nebraska; WILLIAM A. FRANCIS, 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 RALPH B. PULTE and BONNI K. PULTE of Grand Island, Nebraska, all hereinafter collectively referred to as BENEFICIARIES. WITNESSETH: That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN TRUST, his successors and assigns, with power of sale, the following- described real property: Tract A: Lot Three (3), Pulte Second Subdivision, Grand Island, Hall County, Nebraska. Tract B: Lot Three (3) and the West 6.65 feet and the East 59.5 feet in Lot Four (4), Block One Hundred Nine (109), Railroad Addition to the City of Grand Island, Hall County, Nebraska (more commonly known as 316 North Cleburn and 321 North Eddy). together with all buildings, improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES that TRUSTORS 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 covenant of this agreement together with a payment of One Hundred Fifteen Thousand Dollars ($115,000.00), the TRUSTORS have executed a Promissory Note bearing even date, at the rate of interest and on the terms and conditions as set forth in such Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Note of even date, and in any event the entire principal balance due hereunder and any accrued interest shall be paid on or before June 1, 2007. All installment payments hereunder shall be applied first to the payment of interest computed annually on the unpaid balance, pursuant to an amortization schedule, a copy of which has been provided to each of the parties hereto, and remainder of each payment of each installment to be applied to principal. All payments due hereunder shall be paid at the residence of the BENEFICIARIES or the holder of said security shall designate in writing. 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 building and its improvements and all personal property sold under the parties' Contract for Sale of Real Estate, in good condition and repair. 1 Tn ;. c7 cn e� C_rl rr ■rte. �y n �: --, C N x• M A c Ij ); CD W 4 v cn cTa CID ■�� va rt 0 DEED OF TRUST THIS TRUST DEED made this ! 7 day of 200 5 , between THIS J. LEVERING and SARAH LYNN LEVERIN , Husband and Wife, as TRUSTORS, whose address is Grand Island, Nebraska; WILLIAM A. FRANCIS, 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 RALPH B. PULTE and BONNI K. PULTE of Grand Island, Nebraska, all hereinafter collectively referred to as BENEFICIARIES. WITNESSETH: That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN TRUST, his successors and assigns, with power of sale, the following- described real property: Tract A: Lot Three (3), Pulte Second Subdivision, Grand Island, Hall County, Nebraska. Tract B: Lot Three (3) and the West 6.65 feet and the East 59.5 feet in Lot Four (4), Block One Hundred Nine (109), Railroad Addition to the City of Grand Island, Hall County, Nebraska (more commonly known as 316 North Cleburn and 321 North Eddy). together with all buildings, improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES that TRUSTORS 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 covenant of this agreement together with a payment of One Hundred Fifteen Thousand Dollars ($115,000.00), the TRUSTORS have executed a Promissory Note bearing even date, at the rate of interest and on the terms and conditions as set forth in such Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Note of even date, and in any event the entire principal balance due hereunder and any accrued interest shall be paid on or before June 1, 2007. All installment payments hereunder shall be applied first to the payment of interest computed annually on the unpaid balance, pursuant to an amortization schedule, a copy of which has been provided to each of the parties hereto, and remainder of each payment of each installment to be applied to principal. All payments due hereunder shall be paid at the residence of the BENEFICIARIES or the holder of said security shall designate in writing. 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 building and its improvements and all personal property sold under the parties' Contract for Sale of Real Estate, in good condition and repair.