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DEED OF TRUST 6 % 4 0 n o.- rTHIS TRUST DEED made this day of 2. , 19� , between ROBERT D. GROTZKY an VIRGINI M. Y, husband and wife, as TRUSTORS, whose address is Rural Route 1, Alda, Nebraska; WILLIAM A. FRANCIS, attorney and member of the Nebraska State Bar Association, of Grand Island, Nebraska, as TRUSTEE; and LAMBERT J. POELS and GERALDINE A. POELS, husband and wife, whose address is Rural Route 1, Alda, Nebraska, as BENEFICIARY. L WITNESSETH: That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE IN TRUST, his successors or assigns, with power of sale, the following - described real property: Lot One (1), Poels Subdivision, Hall County, Nebraska, together with all buildings, improvements and appurtenances thereon. The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARY 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 Fifty Thousand Two Hundred Dollars ($50,200.00), the TRUSTORS have executed a Promissory Note bearing even date, at the rate of interest and on the terms and conditions as set forth in such Note until paid. The principal sum and interest shall be payable in accordance with and upon the terms and conditions of said Note of even date, and in any event the entire principal balance due hereunder and any accrued interest shall be paid on January 15, 1996. All installment payments hereunder shall be applied first to the payment of interest computed monthly on the unpaid principal balance, pursuant to an amortization schedule, a copy of which has been provided to each of the parties hereto, and remainder of each installment to be applied to principal. If the TRUSTORS have complied with all of the terms and conditions of this Trust Deed and the Trust Note, they shall have the right to make additional. payments of principal on any installment date, which amount shall be applied to the direct reduction of principal. TRUSTORS shall further be entitled to pay the entire principal balance at any time - 1 - IR L J