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<br />~ DEED OF TRUST
<br />
<br />Q nnSDEED OF TRUST is tnado this5day ofibL 2007, by and among FAMILY WORSHIP
<br />i5" CENTBR CHURCH, INC., a LouisiaM corporation, horeiDafter roferrod to as "Trustor", whoso mailing
<br />to address is 8919 WorldMlnistry Avenue, Bilton Rouge, LouisiaMj GALENB. STEHLIK, Attorney atLaw,
<br />b.ereinafterreferred to as ''Trustee,'' whose addre.sa is 724 WeSl Koenig Street, Orand Island, NE 68801 j and
<br />DONALD R. SPIERS. TRUSTEE OF THE DONAlD R. REVOCABLE LIVING TRUST, and BEULAH
<br />G. SPIBHS, TRUSTEE OF nIB BEULAH G. REVOCABLE LIVING TRUST, whose mailing address is
<br />P. O. Box 126, Doniphan, Nebraska 68832, Beneficiary. whether one or more.
<br />
<br />
<br />For valuable consideratino, T.rustor irrevocably grants. transfers, COllVeyS and assigns to Trustee, in
<br />trust, with power of sale. for the benefit and security of Benefi.cill1Y, under and subject to the terms and
<br />conditions of this Deed of Trust; the following-described property,located in Hall County, Nebraska:
<br />
<br />The Northwest Quarter of the Southeast Quarter of the Southwest Quartor
<br />(NW1I4SE/14SW1I4) of Section Thirty-four (34). Township Ten (lO)Nortb,RangeNine,
<br />West of the 61h P.M., Hall County. Nebraska,
<br />
<br />together with all buildings. improvements, easements. rights. privileges and appurtenances locamd thereon
<br />or in any way pertaining thereto. and the rents, issues, profits, reversioi1s and the remainders thereof,
<br />including all such pCf$ODal property that is attached to the improvements so as to oonstitute 8 fIXture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the re.al esWC
<br />conveyed in trust hereby. it being' agreed that all of the foregoing shall be hereinafter referred to as the
<br />"Property."
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />(8) the payment of indebtedness evidenced by Trustor's note of even date herewith
<br />in the principal slim of One Hundred Thousand Dollars ($-100,000.00), and any and all
<br />renewals. modifications and exteusions of such notes;
<br />
<br />(b) the pelformance of each agreement and covenant of Trustor herein contained;
<br />
<br />and
<br />
<br />(c) the payment of any sum or sums of money which may be hereafter paid or
<br />advanced by Bencficiuy under the terms of this Deed of Trust, together with interest
<br />thereon at the rate provided in the note.
<br />
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows:
<br />
<br />1. Pavment of Indllbtedness. To pay when due, the indebtedness evidenced by the note, charges.
<br />fCCIland all other sums as provided in the loau instruments.
<br />
<br />2. IitlQ. Trustor is the OWUllr of the property and has tho right and authority to execute this Deed
<br />of Trust in respect to the property.
<br />
<br />3. Taxes and AsseS8.lDent. To pay. when due, all taxes, special assessmonts and all other charges
<br />against the property, before the same become delinquent, and, in the event Beneficiary shall so require, to
<br />add to the payments required under the note secured hereby, such amount as may be sufficient to enable
<br />Beneficiary to pay such taxes, assessments or other charges as they become due.
<br />
<br />4. msurancc. To keep the impronments now or hereafter located on the real estate described herein
<br />insured against damage by:fire and such other hazards as Beneficlary may require, in amounts and companies
<br />acceptable to BeneficiaJy, and with loss payable to Beneficiary. In case of loss under such policies,
<br />Beneficiary is authorized to adjust, collect and compromise, in their discretion, all claims thereunder 1IDd,
<br />at their sole option. is authorized to either apply the proceeds to the restoration of the property or upon the
<br />
<br />Page 1 of 5
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