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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST, is made as of the 31st day of May, 2005, by and among, Patrick J. Schiley,
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<br />a single person, ( "Trustor "), whose mailing address is 1611 West Charles Street, Grand Island, NE 68801; Gary D.
<br />Byrne, a member of the Nebraska State Bar Association ( "Trustee "), whose mailing address is P.O. Box 929, North j
<br />Platte, NE 69103 -929 and Teresa Spotanski and Mark A. Spotanski, wife and husband, ( "Beneficiary"), whose mailing
<br />H 0 address is RR 1, Box 64, Hazard, NE 68844.
<br />CM FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee,
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<br />IN TRUST, WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms and
<br />conditions of this Deed of Trust, the real property located in the County of Hall, State of Nebraska, and legally described
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<br />The North One Half (N1 /2) of Lot Six (6), Block Forty -two (42) in Russel Wheeler's Addition to the
<br />City of Grand Island, Hall County, Nebraska
<br />CA TOGETHER WITH, all rents, easements, appurtenances, hereditaments, interests in adjoining roads,
<br />streets and alleys, improvements and buildings of any kind situated thereon and all personal property that may be or
<br />hereafter become an integral part of such buildings and improvements, all crops raised thereon, and all water rights.
<br />The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as
<br />the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $15,000.00, with interest thereon, as
<br />evidenced by that certain promissory note of even date (the "Note ") with a maturity date of June 1, 2008, executed by
<br />Trustor, which has been delivered and is payable to the order of Beneficiary, and which by this reference is hereby made
<br />a part hereof, and any and all modifications, extensions and renewals thereof, and
<br />b. Payment of all sums advanced by Beneficiary to protect the Trust Estate, with interest thereon at
<br />the rate of 8% er annum, and
<br />c. The performance of Trustor's covenants and agreements.
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment
<br />and performance of any obligation secured hereby are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the
<br />interest on, the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Instruments.
<br />2. TAXES AND ASSESSMENTS. Trustor shall pay all taxes and special assessments of every
<br />kind, now or hereafter levied against the Trust Estate or any part thereof directly without notice or demand as each
<br />installment comes due and shall provide the Beneficiary with evidence of the payment of the same.
<br />3. INSURANCE AND REPAIRS. Trustor shall maintain fire and extended coverage insurance
<br />insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of
<br />the unpaid principal balance of the Note (co- insurance not exceeding 80% permitted). Such insurance policy shall
<br />contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable without
<br />ten (10) days prior written notice to Beneficiary. Trustor shall furnish Beneficiary a certificate of insurance coverage
<br />at Beneficiary's request, with a provision in such certificate that the insurer shall provide Beneficiary ten (10) days
<br />advance notice of any cancellation of the policy at any time for any reason, or of expiration of policy without renewal
<br />thereof. Trustor shall promptly repair, maintain, and replace the Trust Estate or any part thereof so that, except for
<br />ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the
<br />Trust Estate.
<br />4. ENVIRONMENTAL COMPLIANCE. Trustor shall comply with all federal, state, and local
<br />environmental laws, ordinances, rules, requirements, regulations, and publications as now existing or hereafter existing,
<br />amended, supplemented, or supplanted relating to the preservation of the environment or the regulation or control of
<br />toxic or hazardous substances or materials. Trustor hereby warrants and represents to Beneficiary that there are no toxic
<br />or hazardous substances or materials on or under the Property. Trustor does hereby indemnify and hold Beneficiary
<br />harmless and any successors to Beneficiary's interest from and against any and all claims, damages, losses, and liabilities
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