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. 86- 1036$5 TRUST DEED THIS TRUST DEED made this day of 1986, between Richard J. Smith d b a R.J. Smith Plumbing, as Trustor, whose address is 214 North Grace Avenue, Grand Island, Nebraska; and, John R. Hall as Trustee; and Russell W. O'Neill and Josephine L. O'Neill, husband and wife, as Beneficiary. WITNESSETH: That Trustor conveys, sells, and warrants to Trustee in trust, with power of sale, the following described real property: Lot Three (3) in Block Thirty Two (32) in Packer and Barr's Second Addition to the City of Grand Island, Nebraska. The intention being to convey hereby an absolute title in fee simple, together with all buildings, fixtures, improvements, and appurtenances thereto belonging. The Trustor covenants and agrees with the said Trustee and Beneficiary that he is lawfully seised of said premises; that he has good, right, and lawful authority to sell and convey said premises; that said premises are free and clear of all liens and encumbrances; and that Trustor will warrant and defend the title to said premises unto the Trustee and his successors and assigns forever against the claims of all persons, FOR THE PURPOSE OF SECURING performance on each agreement of Trustor herein contained and the payment of Twenty-eight Thousand Dollars ($28,000.001, as evidenced by a promissory note bearing even date at the rat-e of ten percent +10 %) per annum until paid; the principal sum and interest shall be payable on July 1, 2001.. All payments shall he made at the office of the Beneficiary, 1732 North Huston, or at such other place as the holder may designate in writing. It is agreed by and between the parties hereto that while title is vested in the Trustee and unti' Filing of Notice of Default, the Trustor shall: A. Retain possession of the premises and collect the rents and revenues therefrom. B. Maintain the buildings and improvements located thereon in good condition and repair.