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THIS TRUST DEED made this 30th day of September, 2003, between BRYAN L. FRENCH and DANA M. FRENCH, husband and wife, as TRUSTORS, whose address is 409 East 5th Street, Axtell, Nebraska 68924; JOHN M. CUNNINGHAM, a member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 N. Cedar St., P.O. Box 2280, Grand Island, Nebraska 68802 -2280; and DOYLE L. WINFREY and r VIOLET B. WINFREY, husband and wife, as joint tenants with right of survivorship, not tenants in common, whose address is 822 West 5th Street, Grand Island, Nebraska 68801, 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: Lot Two (2), D & V Subdivision, in the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES that they 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 agreement of TRUSTORS herein contained and the payment of THIRTY -SEVEN THOUSAND THREE HUNDRED DOLLARS ($37,300.00), the TRUSTORS have 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 December 1, 2006. All payments due hereunder shall be paid at the address of the BENEFICIARIES as above described, or at such other place as such BENEFICIARIES 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 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 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 BENEFICIARIES 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 BENEFICIARIES, in an amount at least equal to the property's full insurable value, which policies shall name the BENEFICIARIES as additional insureds, with the proceeds payable to the parties as their interests may appear hereunder. TRUSTORS agree to provide BENEFICIARIES 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 BENEFICIARIES. In the event the TRUSTORS fail or neglect to pay taxes and procure casualty insurance, all as above set forth, then BENEFICIARIES may pay such taxes and procure such insurance, and all sums expended and advanced by BENEFICIARIES and TRUSTEE in accordance with the provisions contained herein are secured hereby and, without demand, shall be immediately due -1- M s D M CA GAS ^� c (A ri $� � � rn Q N F" o rrl N Q7 ro DEED OF TRUST 1 CO O THIS TRUST DEED made this 30th day of September, 2003, between BRYAN L. FRENCH and DANA M. FRENCH, husband and wife, as TRUSTORS, whose address is 409 East 5th Street, Axtell, Nebraska 68924; JOHN M. CUNNINGHAM, a member of the Nebraska State Bar Association, as TRUSTEE, whose address is 222 N. Cedar St., P.O. Box 2280, Grand Island, Nebraska 68802 -2280; and DOYLE L. WINFREY and r VIOLET B. WINFREY, husband and wife, as joint tenants with right of survivorship, not tenants in common, whose address is 822 West 5th Street, Grand Island, Nebraska 68801, 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: Lot Two (2), D & V Subdivision, in the City of Grand Island, Hall County, Nebraska, together with all improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES that they 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 agreement of TRUSTORS herein contained and the payment of THIRTY -SEVEN THOUSAND THREE HUNDRED DOLLARS ($37,300.00), the TRUSTORS have 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 December 1, 2006. All payments due hereunder shall be paid at the address of the BENEFICIARIES as above described, or at such other place as such BENEFICIARIES 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 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 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 BENEFICIARIES 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 BENEFICIARIES, in an amount at least equal to the property's full insurable value, which policies shall name the BENEFICIARIES as additional insureds, with the proceeds payable to the parties as their interests may appear hereunder. TRUSTORS agree to provide BENEFICIARIES 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 BENEFICIARIES. In the event the TRUSTORS fail or neglect to pay taxes and procure casualty insurance, all as above set forth, then BENEFICIARIES may pay such taxes and procure such insurance, and all sums expended and advanced by BENEFICIARIES and TRUSTEE in accordance with the provisions contained herein are secured hereby and, without demand, shall be immediately due -1-