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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST is made this day of August, 2003, by and among J.O.
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<br />Enterprises, Inc., A Nebraska Corporation, ( "TRUSTOR" or "TRUSTORS
<br />"), whose mailing
<br />address is 120 West 4th Street, Grand Island, Nebraska;
<br />and DUANE A. BURNS, a member of the Nebraska State Bar Association ( "TRUSTEE "),
<br />whose mailing address is P.O. Box 2300, Grand Island, Nebraska 68802;
<br />and DORIS L. WINKLER, Trustee, ( "BENEFICIARY "), whose mailing address is Rural Route
<br />1, Box 16, Oak, Nebraska 68964.
<br />FOR VALUABLE CONSIDERATION, Trustors irrevocably transfer, convey, and
<br />assign to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of
<br />Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the real
<br />property located in the County of Hall, State of Nebraska, and legally described as follows:
<br />(the "Property "):
<br />The South Half (S1/2) of Lot Five (5), Block Sixty Five (65),
<br />Original Town, now City of Grand Island, Hall County,
<br />Nebraska.
<br />TOGETHER WITH all rents, easements, appurtenances, hereditaments, interest in
<br />adjoining roads, improvements and buildings of any kind situated thereon and all personal
<br />property that may be or hereafter become an integral part of such property.
<br />The property and the entire estate and interest conveyed to the Trustee are referred to
<br />collectively as the "Trust Estate ".
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness in the total principal amount of $82,900.00, with interest
<br />thereon, as evidenced by that certain Promissory Note of even date ( "The Note ") with a
<br />maturity date of August 1, 2008 executed by Trustors, which has been delivered and is
<br />payable to the order of Beneficiary, and which by this reference is made a part hereof, and
<br />any and all modifications, extensions and renewals thereof;
<br />b. Payment of all loan charges, fees, legal fees, escrow agent's set -up fees and escrow
<br />agent's annual service fee; and
<br />c. Payment of all sums which may have been advanced by Beneficiary to protect the
<br />Trust Estate which shall be secured by this Deed of Trust, with interest thereon at the rate of
<br />sixteen (16 %) percent per annum
<br />This Deed of Trust, the Note, and any other instrument given to evidence or further
<br />secure the payment and performance of any obligation secured hereby
<br />are referred to collectively as the "Loan Instruments ".
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST:
<br />1, PAYMEN T OF INDEBTEDNESS Trustors shall pay when due the principal of,
<br />and the interest on, the indebtedness evidenced by the Note, charges, fees and all other sums
<br />as provided in the Loan Instruments.
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