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DEED OF TRUST THIS DEED OF TRUST, made as of the �_i� 1987 between Peace Lutheran Church ofda(!rand 1sT as Truster. Crand r�� °nd A ar t. E row 5 Tir1e Comoanv asTrust".and i.u[heran Chur h tension F nd M�a ouri S as Beneficiary: 87- 102944 WITNESSETH: That Truster irrevocably grants, transfers and assigns to Trustee in trust, with power of sale, the following described Property: Lot Thirty Nine (39), in R 6 B Subdivision, Hall County, Nebraska together with all interest which Truster now has or may hereafter acquire in and to said property and in and to: (a) all easements and rights of way appurtenant thereto; and (b) all buildings, structures, improvements, fixtures, equipment, furnishings and Appurtenances now or hereafter placed thereon, it being intended and agreed that all classes of property attached or unattached, other than cottsumablegoods, used or to be used in connection with said property, areconelusively deemed to be affixed to and to be Part of the real Property that is conveyed hereby. Truster agrees to execute and deliver, from time to time, such further instru- ments as may be requested by Beneficiary to confirm the lien of this Deed of Trust on any of the aforementioned property. The Property so conveyed to Trustee hereunder is hereinafter referred to as "such property ". The Truster absolutely and irrevocably grants, transfers and assigns to Beneficiary the rents, income, issues, and profitsof all property covered by this Deed of Trust. FOR THE PURPOSE OF SECURING: I. Payment of the principal sum of 5 4 5 7 6 18 - 7 4 evidenc by thatcertain promissory notedated of even date herewith (hereinafter referred toss the "Promissory Note ") in theoriginal prim ciPal amount of i 4.5 7 , 6 18 . 7 4 issued by Truster and payable to the order of Beneficiary, neon, late charges, and prepayment bonuses according to the terms of tfA Prom!a ory Note and all reewals, extensions, and modifications thereof. *See Exhibits A and B attached here t o . Z Performance, discharge of and compliance with every obligation, covenant, and agreement of Truster incorporated by reference or contained herein or in any other security agreemen t or deed of trust at any time given te secure any indebtedness her- eby secured, or any part thereof. 8. Payment of all fees and charges of Beneficiary, whether or not sot forth herein. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS: Thler That it is lawfully seised and Possessed of a good and indefeasible title and estate to such Property will forever warrant and defend the title thereto against the claims and demands of all p perty h feesimple and expense, maintain d Preserve the lien of this Dead of Trust as t first and persons whosoever; that it will, at its U411"enanee: To keep such property in good condition and repair; to complete or restore promptly and in g00d and manlike manner any building which may be constructed damaged or destroyed thereon and to fo work - Performed and materials furnished therefor and for any alterations thereof, to comply with the provis onsofall insurance policies r labor covering said premises; to comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting such Property: not to remove, demolish or materially alter any building, or the character or sea thereof at any time thereon; not to drill or extract nor to permit the drilling for or extraction of oil, gas or other hydrocarbon substancesor any miners; of any kind unless the written consent of Beneficiary is first had and obtained; not to commit or permit any waste thereof or any act upon such prop- "m violation of law' to do all other sets in a timely and proper manner which from the character or use ofsuch property maybe naswrably wry to Protect and Preserve said security, the specific enumerations herein not excluding the general. C"Alrntien of Improvements: To complete in good and workmanlike manner any building or improvement or repair relating thereto which may be begun on such property or contemplated by the loan secured hereby, to Pay when due all costs and liabilities incurred therefor, and not to permit any mechanic's lien against such property. Truster also agrees, anything in this Deed of Trust to the contrary notwithstanding (a) to promptly commence work and to complete the proposed improvements Promptly. (b) to CnPlete same in accordance with plans and specifications as approved by Beneficiary, (c) to comply with all of the teem• of May building loan agreement between Truster and Beneficiary, (d) to allow Beneficiary to inspect such property at all times during construction. and (e) to replace any work or materials unsatisfactory to Beneficiary, within fifteen (i6) days other written notice from Beneficiary of such fact, which notice may be given to Truster by registered or certified malt, sent a his Isar known address, or by Personal service of the same Fire and Caaaahy Insurance: To keep such property insured against loss or damage by fire and other risk or risks which, to the Opinion of Beneficiary should be insured against, under policies of insurance with loss payable to Beneficiary In form, Amount, and security for he acceptable to r Beneficiary . Said Policies shall be delivered to and remain in Possession of Beneficiary as Bsewficiwy to all farther s rity fac the faithful performance of those obligations, which delivery shall constitute an assignment by Truster to is W"Rf say expiring insurance with l all return premiums a deliver to Beneficiary a policy or policies renewing or f baodeliver any renewal policies. Beneficiary m Paid at least thirty elect days motors expiration. If Truster seeps , which Psy�ni is re a1' procure rush insurance is (t may elect and may make payment of main - payable on demand. Neither Trustee nor Beneficiary shall be responsible for obtaining or mad n- �rdag Much Insurance, 13onoficiary, from time to time. may furnish to any insurance agency or company, or any other person. any contained in Of extracted from any insurance policy theretofore delivered to Beneficiary pursuant hereto, and any information ning the loan secured hereby, In toevent and whetheror not default hereunder has occurredshall Beneficiary, by W factee approving. su once accepting acts. solver such Insurance, incur any liability fur the amount of such insurance, the form or � Mum- � insurance contracts, solvency of tneurere, or sairafflea futl ability therefor and liability, if any, thereunder n the event ofb in, Truster shall giveoimmed iteewritten to Beneficiary. and Beneficiary may, but is tot obligated to, make Proof of lose if not made promptly by Truster. In case of SAY loss the amount collected under any policy of insurance on such property may, at the Option of the Beneficiary, be applied by —i