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2012U0057
<br />by it in good faith and reasonably believed by it to be authorized or within the discretion or rights of
<br />powers conferred upon it by this Trust Deed or state law.
<br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the
<br />obligations secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein,
<br />without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire
<br />indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any
<br />other default.
<br />13. That Trustor(s) is, and shall continue to be, duly organized, validly existing and legally qualified to
<br />do business under the laws of the states in which Trustor(s) operates, in compliance with federal, state
<br />and local laws or regulations, and has legal authority in such states to conduct Trustor(s) business
<br />operations and to own agricultural real estate. No change has been made in the name, ownership,
<br />control, relationship, legal status or organizational and formation documents of any undersigned
<br />Trustor(s) since the time any such information was last provided to Beneficiary.
<br />14. That if Trustor(s), or anyone signing this Trust Deed, is a limited liability company, that those
<br />signing on behalf of said limited liability company constitute a majority of the managers or members
<br />thereof, and that the execution of this Trust Deed is in the ordinary course of the limited liability
<br />company's business and has been authorized by its members.
<br />15. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers,
<br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may
<br />from time to time become due and payable under any real estate lease or under any oil, gas, gravel,
<br />rock, or other mineral lease of any kind including geothermal resources now existing or that may
<br />hereafter come into existence, covering the property or any part thereof. All such sums so received by
<br />Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn
<br />over and deliver to Trustor(s) or their successors in interest, any or all of such sums without prejudice to
<br />any of Beneficiary's rights to take and retain future sums, and without prejudice to any of its other rights
<br />under this Trust Deed. This assignment will be construed to be a provision for the payment or reduction
<br />of the debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the
<br />property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this
<br />assignment will become inoperative and of no further force and effect.
<br />16. This Trust Deed constitutes a Security Agreement with respect to all the property described herein.
<br />17. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any
<br />portion of this Trust Deed is determined to be void or unenforceable, that determination will not affect
<br />the validity of the remaining portions of the Trust Deed.
<br />� � � /�� _����� �
<br />George Albin Jr Sherril A Albin
<br />INDIVIDUAL BORROWER ACKNOWLEDGMENT
<br />STATE OF NEBRASKA )
<br />)ss
<br />COUNTY OF ADAMS )
<br />lacf
<br />On this 3� day of January, 2012 before me, a Notary Public, personally appeared
<br />George M Albin Jr and Sherril A Albin, husband and wife
<br />to me known to be the person(s) named in and who executed the foregoing instrument, and
<br />acknowledged that they executed the same as their voluntary act and deed.
<br />��
<br />QENERAL NOTAR1f - S�te af Nebraska
<br />(SEAL RfTAAA.3ALUINGER
<br />My Camm. . IN 13, 2014
<br />h/
<br />ita M Sallmger
<br />(Type name under signat r )
<br />My commission expires May 13, 2014 Notary Public in and for said County and State
<br />App #: 5111935; CIF #: 1084; Note #: 204 220KS Legal Doc. Date: January 3, 2012
<br />FORM 5011, Trust Deed and Assignment of Rents Page 4
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