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<br /> 1�FRD OF TI�UST
<br /> This DE�D OF TRUST is mada as of the 29th day of May. i 998 by and among the
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<br /> Trustar�THREE CIRCLB 1RRIGA'17UN�1[v�..alvsbrasica carporaiion,w,�u������lir.�a���.,�� -
<br /> far purposes of this Decd of Trust is R.R.#4,Box 100A�North Platte,N� 691 Ol(hcrem, � n
<br /> "Trustor",whciher one ar more),the Tn�stez,AREND R.SAACK,Attamey at Law,whose �\
<br /> mailing address is P.O.Box 790,Grand Island,N6 68$02�0790(herein"Trustce"),and the �
<br /> Heneficiary,'THE OVBRLANU NATIONAL FtA13K OF CiRAND ISLAAID,wl�osC mailing \
<br /> address is P.O.Bax 1686,Grnnd Island,NE 68802-1688(herein"Lendcr").
<br /> FQR VALUABLE CONSIDERATION,including I.ender's extension of credit identified
<br /> herein to THREE CIRCLE IRRIGATION,INC.(herein"Horrower",wheiher one or more),and
<br /> the trust herein eteated,the receipt of which is hereby acknowledged,Trustor hereby irrevacably
<br /> grsnts,transfers,conveys and assigns to Trustec,IN TRUST,WITH POWER OF SALE,for the
<br /> benefit and security of Lender,under and subject to the terms and conditions he�einafter set forth,
<br /> legally described as foll�ws:
<br /> , Lots One(1)and Three(3),Ponner Third Subdivision in the City of 0�and Island,
<br /> � Hatf C;ounty,Nebraska exccpting theroirom iracis oi fcuiu,nurG�,u�aicaaau�y
<br /> described in Warranty Dad recorded as Document No.82-003073 sud Warranty
<br /> , Decd recorded as Documcnt No.95-1O5S33;
<br /> . together with all buildings,improvements,tlxturns,streets,aiio�s,passageways,r,asemenis,
<br /> rights,privilages and appurtenances located thereon or in anywise pa�ta�ning thereto,and the
<br /> rants,issues and prafits�reversions and remainders thereof,and sachpersonel property that is
<br /> . attached to the improvements so as to constitute a fixtwe�including,but not lirnited to,heating
<br /> and cooling oquipment end tugeth�r with the homesteac!or marital intensts,if any,which inter-
<br /> osts are txreby relessed and waivod,all of which,xncluding replacomonta and additions th�reta,
<br /> is hereby dcclared to be a part of the rcal estate secured by the I�en of this Dxd of Trust and all
<br /> _ of the foragoing being referred to herein as the"Property".
<br /> :' This Dad of Trust shall secure(a)the payment of the principal sum and interest evi-
<br /> � denced by a Dad of Trust Note dated May 29, 1998,having a matur�ty date of Juna 1,2003,in
<br /> the original principa!amount of IVine Hundred Twenty-Eight Thou.gand and Nd100 Rollars
<br /> � (Sg2g,000.00),and any and all modifications,extensions and rendwals thereof or ther�eto and any
<br /> and all future advances and readvances to Borrower(or any of them if more than om) hereundcr
<br /> pursuant to one or more promissory notes or cc+adit agreements(herein calitd"Note"); (b)the
<br /> payment of oth�r sums advanced by Lender to protect the security of the Notc; (c) the perform-
<br /> ance of all covenants and agreements of Trustor set forth herein;and(ci)all present and future
<br /> �indebtodncss and obligations of Borrower(or any of them if more than one)to Lender whether
<br /> direct,indirect,absolute or contingent and whethcr arising by note,guaranty,overdraft or oth-
<br /> erwise. The Nate,this lleed of Trust and any and all other documents that secure the Note or
<br /> otherwise executed in connection thercwith,including without limitation guerantees,security
<br /> ? agre�ments and assigrunents of leases and rents,shall be refornd to hsrein as t1�e'=Loan Instru-
<br /> ments".
<br /> TRUSTOR COVENANTS AND AGREES WITH LENDER EiS FOLLOWS:
<br /> l, payment of ndebtedness. All indebtcdness secured hcreby shall be paid when due.
<br />= 2. �, Trustor is thc owner of th�Property,has thc right a�nd authocity to convey tlie
<br />� F.operty and wa.-rants th:.:the licr.creattd hereby is a first and prior lien on the Pro rty and the
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<br /> execution and deirvery oi cre i�eed oi Trusi does noi vio�nic any iNi.u��►�;�.��. arvaagaaavu av
<br />-- which Trustor is su�ject.
<br /> � 3, T��,Asg;cQmEnta. To pay,before delinqu�nt,all taxes,special assessments and all
<br /> = other charges ogainst the Property now or hercafter levicd.
<br /> - 4. Ii1��. To keep the Property insured against dumage by fire hazards included with
<br />-� the tcrtn"extendcd coveragc"and such other hazards as Lender may requiro in amounts and with
<br />-� companies acc�ptabto t�Lender,naming Lender us an addition�l na�necf insured witli los�pay-
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