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201207360
<br />DEED OF TRUST
<br />THIS DEED OF TRUST is made this '�t� da.y of August, 2012by and among LESLIE
<br />D. DRUMMOND AND SUSAN K. DRUMMOND, husband and wife, herein collectively
<br />referred to as "Trustor", whose mailing address is, 905 25�' Street SW, Spencer, Iowa 51301;
<br />BRANDON S. CONNICK, a member of the Nebraska State Bar Association, hereinafter
<br />referred to as "Trustee", whose mailing address is P.O. Box 790, Grand Island, Nebraska 68802;
<br />and FARMERS TRUST & SAVINGS BANK, an Iowa Banking Corporation, hereinafter
<br />referred to as "Beneficiary", whose mailing address is 125 West Fourth Street, Box 7980,
<br />Spencer, IA 51301-7980.
<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to
<br />Trustee, in trust, with power of sale, for the benefit and security of Beneficiary under and subject
<br />to the terms and conditions of this Deed of Trust, the Trustor's interest in the following described
<br />property located in the County of Hall, Nebraska, to-wit:
<br />T'he Southeast Quarter (SE '/4) of Section Twenty Four (24), Township Eleven
<br />(11) North, Range Twelve (12) West of the 6`" P.M., Hall County, Nebraska
<br />EXCEPT a certain tract more particulazly described in Deed recorded in Book 78,
<br />Page 268 and EXCEPT a certain tract more particulazly described in Warranty
<br />Deed recorded in Book 119, Page 145.
<br />together with all improvements, fixtures and appurtenances located thereon or in any way
<br />pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof, including
<br />all such personal property that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the real
<br />estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property".
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith in
<br />the principal sum of ONE HIJNDRED EIGHTY THOUSAND SEVEN HLTNDRED TEN
<br />NO/100 DOLLARS ($180,710.00), together with interest at the rate provided therein, or the
<br />principal and interest on any future advance not to exceed the total principal sum initially
<br />secured hereby as evidenced by promissory notes stating they are secured hereby, and any and all
<br />renewals, modifications and
<br />extensions of such notes, both principal and interest on the notes being payable in accordance
<br />with the terms set forth therein, which by this reference is hereby made a part hereof;
<br />(b) the performance of each agreement and covenant of Trustor herein contained; and
<br />(c) the payment of any sum or sums of money which may be hereafter paid or
<br />advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at
<br />the rate provided in the note.
<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as
<br />follows:
<br />1. Payment of Indebtedness. To pay when due, the principal of and the interest on,
<br />the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
<br />2. Title. Trustor is the owner of the Property and has the right and authority to
<br />convey the Property and warrants that the lien created hereby is a first and prior lien on the
<br />Property and the execution and delivery of the Deed of Trust does not violate any contract or
<br />other obligation to which Trustor is subject.
<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all
<br />other charges against the Properly, before the same become delinquent, and, in the event
<br />Beneficiary shall so require, to add to the payments required under the note secured hereby, such
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