AGREEMENT


THIS  EMPLOYMENT  AGREEMENT  made and entered into as of the 4th day of December
2003, by and between SECURITYNATIONAL  MORTGAGE COMPANY, a Utah corporation (the
"Company"), having its principal place of business at 5300 South 360 West, First
Floor,  Salt Lake  City,  Utah  84123,  and J.  LYNN  BECKSTEAD  ("Beckstead  or
Employee").

                                   WITNESSETH:

In consideration of the mutual covenants herein contained,  the parties agree as
follows:

1.  EMPLOYMENT  IN  EXECUTIVE  CAPACITY  The  Company  hereby  agrees  to employ
Beckstead as President of Security National Mortgage Company for a five (5) year
term commencing on December 4, 2003, and  terminating no sooner,  other than for
cause,  than  December  4, 2008.  The  Company  agrees to renew this  Employment
Agreement on December 4th, 2008, and December 4th 2013 for additional  five-year
periods provided that Employee has performed his duties with usual and customary
care,  diligence,  and prudence  becoming the position and has not  performed or
failed to perform any act which would justify a termination for cause.

2. VESTING OF AGREEMENT  UPON THE  TERMINATION  OF  EMPLOYMENT OF SCOTT M. QUIST
Unless otherwise agreed to in writing,  the Retirement  Benefits of Paragraph 12
of this Agreement shall vest and shall not be subject to forfeiture for cause or
otherwise upon the  termination  of Scott M. Quist from  employment as President
within the Security National complex of companies.

3. EMPLOYEE  AGREES TO DEVOTE FULL TIME Beckstead  agrees to such employment and
agrees to devote his full time and  attention to the  performance  of his duties
hereunder which shall include such  additional  duties as may be assigned to him
from time to time by the Board of Directors  and/or the Chairman of the Company.
Employee  agrees to perform such duties in a reasonable  fashion using customary
standards of diligence, care, and prudence comensurate with his position.

4.   EMPLOYEE   AGREES  TO   RELINQUISH   ANY  CLAIM  TO  STOCK   OWNERSHIP   IN
SECURITYNATIONAL  MORTGAGE  COMPANY In partial  consideration  of this agreement
Employee agrees that he owns no stock in  SecurityNational  Mortgage Company and
that if he has ever owned any such ownership  interest it is hereby  transferred
to the Company and terminated in consideration of this agreement.

5.  EMPLOYEE TO BE OFFICER  During the term of this  Agreement  and each renewal
thereof,  it  is  agreed  that  Beckstead  shall  be  elected  as  President  of
SecurityNational Mortgage Company.

6.  COMPENSATION In consideration of the services to be rendered by Beckstead as
an officer of the Company,  the Company agrees to pay Beckstead and he agrees to
accept  compensation at no less than his current rate of compensation  including
benefits.  It is agreed that the term  "current rate of  compensation"  does not
include such items as stock option grants or incentive or similar bonuses as may
be granted by the Board of Directors  from time to time.  It is agreed that on a
yearly  anniversary date of this Employment  Agreement or such other time as the
Board of Directors may see fit, the  compensation  being paid to Beckstead shall
be reviewed by the Board of Directors  and adjusted by the Board of Directors as
they see fit, but in no event shall  compensation  be less than the current rate
of compensation.  Beckstead shall be entitled to  reimbursement  for any and all
reasonable   expenses  associated  with  his  duties  incurred  by  him  in  the
performance of his duties.


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7.  DISABILITY In the event  Beckstead is unable to perform the duties  provided
for hereunder  because of illness or accident,  then Beckstead shall be entitled
to one-half (1/2) of the current rate of compensation provided for hereunder for
a term of five (5) years from the date of the  commencement  of said  disability
pursuant to such  illness of accident.  In lieu of the benefit  provided in this
paragraph the Company may purchase a disability  policy.  To the extent that any
such policy  were to pay a benefit in excess of one-half of the current  rate of
compensation  provided for  hereunder,  then no additional  benefit shall be due
under this  paragraph.  To the extent any such benefit is less than  one-half of
the current rate of compensation then this paragraph shall be interpreted to pay
an amount  sufficient  to bring the benefit to  one-half of the current  rate of
compensation.

8.  PENSION  PLAN The  Company  agrees to  provide  an ESOP and or 401-K Plan or
similar  arrangement  for  Beckstead and to make a  contribution  to the Plan on
behalf of Beckstead  consistent  with the Company's  past and current  practices
regarding other  executive  employees of  SecurityNational  Mortgage or Security
National Financial Corporation.

9. INSURANCE The Company  agrees to maintain a group term life insurance  policy
in the amount of not less than $350,000 on the life of Beckstead, who shall have
the right to designate the beneficiaries and the owner or owners of that policy.
Such policy shall terminate upon retirement but if possible will be converted to
an  individual  policy in favor of Employee.  It is agreed that premiums for his
policy shall be paid by the Company until retirement or other  termination.  The
Company  further agrees to maintain a Whole Life Insurance  Policy in the amount
of $150,000.00  on the life of Beckstead,  who shall have the right to designate
the  beneficiaries and the owner or owners of that policy. It is agreed that all
premiums for both  policies  shall be paid by the Company  until  retirement  or
other  termination.  Employee agrees that it is his responsibility to locate and
procure such coverage. Employee represents that he is capable of qualifiying for
such  coverages  under  standard rates and  conditions.  If for whatever  reason
Employee does not so qualify then the benefit to be paid under this paragraph is
the premium  amounts that would be paid assuming  standard rates and conditions.
The Company  agrees to  purchase a group  hospitalization  policy for  Beckstead
providing  family  coverage  for his spouse  and minor  children  with  benefits
consistent  with  the  Company's  past and  current  practices  regarding  other
executive employees of SecurityNational  Mortgage or Security National Financial
Corporation such coverage to be provided until retirement or other termination.

10.  AUTOMOBILE The Company  agrees to furnish  Beckstead,  until  retirement or
other termination,  with an automobile or truck, consistent with past practices,
with lease payments to be made by the Company.

11.  MERGER  OR SALE In the event  the  business  conducted  by the  Company  is
acquired by another entity through acquisition of assets,  merger, or otherwise,
this Agreement shall be binding upon any such successor organization and the any
such  agreements  having as their subject such  combination  shall  specifically
adopt this  Agreement.  However,  if as a consequence  of any such  combination,
Beckstead is unable to continue his  employment at the same salary,  terms,  and
conditions,  then and in that event,  and in addition to the Retirement  Benefit
contained in paragraph 12, the Company  agrees to pay Beckstead full salary plus
all benefits  including  bonuses,  options etc for a term of five (5) years from
the date of his  termination.  In the event  Beckstead  is able to  negotiate an
Employment  Agreement with a successor entity that is equal to or more favorable
than  this  Agreement,  then this  provision  shall be void.  In the event  that
Beckstead is able to negotiate an employment agreement with the successor entity
that is less  favorable  than the terms  contained  herein,  then this agreement
shall be  interpreted so as to make up the shortfall in  compensation  such that
Employee  shall  receive  the  amounts  that he would have  received  under this
agreement.


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12.  RETIREMENT  BENFITS  Beckstead  shall be  entitled  to  receive  an  annual
Retirement  Benefit  commencing  one month from the date of his  retirement  (to
commence  no sooner  than age 62 and one half),  five years  following  complete
disability or the  completion of paragraph 6, or  termination  of his employment
without cause  whenever  occurring,  in an amount equal to one-half (1/2) of his
then current rate of  compensation.  This Benefit shall be paid annually for ten
(10) years.  In the event that  Beckstead  dies prior to receiving  all benefits
outlined in this paragraph, payments shall be made to his Intervivos Trust dated
September 11, 1998.

13.  MODIFICATION  The terms of this Agreement shall not be altered,  amended or
modified  except in writing signed by a duly  authorized  officer of the Company
and Beckstead.

14. PAROL  AGREEMENTS This Agreement  contains the entire  contract  between the
parties,  and any  representations  that may have heretofore been made by either
party  to  the  other  are  void.   Neither  party  has  relied  on  such  prior
representations in entering into this Agreement.

15.  DECISIONS OF THE BOARD OF DIRECTORS AND BINDING  ARBITRATION  Decisions and
determinations  as  contemplated in this agreement  regarding  Employee shall be
made by majority vote of the Board of Directors of the Company.  If Beckstead is
a member of such Board,  he shall be recused from voting.  Any disputes  arising
under this agreement shall be subjected to binding arbitration. Each party shall
choose  one  arbitrator  who  shall  be  member  of  the  American   Arbitration
Association  and those two members shall choose a third member.  The Arbitrators
shall follow rules of the American Arbitration  Association regarding employment
matters.


<PAGE>


16.  NOTICES  Any  notices  required  to be  given  hereunder  shall  be  deemed
officially given if sent by certified mail to the  above-mentioned  addresses or
to such other addresses as either party may hereafter  designate by notice given
in the same manner.


     This Agreement  supersedes all prior  understandings and agreements between
the parties and may not be changed or terminated  orally,  but only by a writing
signed by the parties hereto.

     IN WITNESS WHEREOF,  the parties have executed this Employment Agreement as
of the day and year first above written.

ATTEST:                            SECURITYNATIONAL
                                   MORTGAGE COMPANY





                                   Scott M. Quist, Chairman




                                   J. Lynn Beckstead