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<br /> DEED OF TRUST
<br />
<br /> THIS TRUST DEED made this day of , 2010, between MICHAEL
<br /> PATRICK HANNON and KIMBERLY S. HANNON, 11sband and Wife, of Hall County,
<br /> Nebraska, as TRUSTOR, and WILLIAM A. FRANCIS, #11366, A Member of the Nebraska Bar
<br /> Association, 222 N. Cedar Street, Grand Island, Nebraska 68801, as TRUSTEE, and J. WALTER
<br /> HANNON and MARGARET HANNON, Husband and Wife, as Joint Owners with rights of
<br /> survivorship of 308 Perdew Avenue, Ridge Crest, California, 93555, hereinafter collectively
<br /> referred to as BENEFICIARIES.
<br />
<br /> WITNESSETH:
<br />
<br /> That TRUSTOR hereby grants, bargains, sells, conveys and warrants to TRUSTEE, IN
<br /> TRUST, his successors and assigns, with power of sale, the following-described real property:
<br /> THE SOUTH HALF OF THE NORTHWEST QUARTER (S1/2 NW1/4)
<br /> OF SECTION TWENTY ONE (21), TOWNSHIP TEN (10) NORTH,
<br /> RANGE TWELVE (12) WEST OF THE 6' P.M., HALL COUNTY,
<br /> NEBRASKA
<br />
<br /> together with any improvements, fixtures or appurtenances thereon.
<br />
<br /> The TRUSTOR hereby covenants and agrees with the TRUSTEE that TRUSTOR is
<br /> lawfully seized and the owner of the above-described property; that he has good right and lawful
<br /> right and authority to sell. TRUSTOR will warrant and defend the title to said premises forever
<br /> against the claims of all persons whomsoever.
<br />
<br /> For the purpose of securing performance of each agreement of TRUSTOR herein contained
<br /> and the payment of TWO HUNDRED SEVENTY THOUSAND DOLLARS ($270,000.00), the
<br /> TRUSTOR has executed a Promissory Note bearing even date, at the rate of interest and on the
<br /> terms and conditions as set forth in such Note until paid. The principal sum and interest shall be
<br /> payable in accordance with and upon the terms and conditions of said Note of even date, and in any
<br /> event the entire principal balance due hereunder and any accrued interest shall be paid on March 1,
<br /> 2017. All installment payments hereunder shall be applied first to the payment of interest
<br /> computed monthly on the unpaid balance, pursuant to the Amortization Schedule, a copy of which
<br /> has been provided to each of the parties hereto, and remainder of each payment of each installment
<br /> to be applied to principal. All payments due hereunder shall be paid at the residence of the
<br /> BENEFICIARIES or as the holder of said security shall designate in writing.
<br />
<br /> It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br /> until filing of Notice of Default, the TRUSTOR shall:
<br />
<br /> A. Retain possession of the property at all times, except as may be otherwise agreed by
<br /> the parties in writing.
<br /> B. Maintain the real property sold under the parties' Contract for Sale of Real Estate in
<br /> good condition.
<br /> C. Pay all general and special taxes and all special assessments of every kind levied or
<br /> assessed against or due upon said property before delinquency, and to deliver to
<br /> BENEFICIARIES copies of receipts showing payment of such taxes.
<br />
<br /> TRUSTOR covenants and agrees that a failure to make any payment, either principal or
<br /> interest, on the Note secured hereby when due and payable, or a failure to comply with any of the
<br /> covenants and agreements herein made shall cause the whole sum of money hereby secured to
<br /> become immediately due and collectible at the option of the BENEFICIARIES, and
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