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THIS INSTRUMENT PREPARED BY:
<br />Pathway Bank
<br />P.O. Box 428
<br />306 S. High St
<br />Cairo, NE 68824
<br />2013000
<br />AFTER RECORDING RETURN TO:
<br />Pathway Bank
<br />P.O. Box 428
<br />306 S High Street
<br />Cairo, NE 68824
<br />COMMERCIAL REAL ESTATE DEED OF TRUST
<br />FUTURE ADVANCES AND FUTURE OBLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED
<br />OF TRUST
<br />This COMMERCIAL REAL ESTATE DEED OF TRUST ( "Security Instrument ") is made on day of
<br />December, 2012 by the grantor(s) Sally J. Dubbs, Co- Trustee of the Sally J. Dubbs Revocable Living Trust,
<br />dated June 20, 2012, and Wendell R. Dubbs, Co- Trustee of the Wendell R. Dubbs Revocable Living Trust,
<br />dated June 20, 2012. The trustee is Pathway Bank whose address is PO Box 428, Cairo, Nebraska 68824
<br />( "Trustee "). The beneficiary is Pathway Bank whose address is 306 S High St., PO Box 428, Cairo, Nebraska
<br />68824 ( "Lender "), which is organized and existing under the laws of the State of Nebraska. Grantor in
<br />consideration of loans extended by Lender up to a maximum principal amount of $150,000.00 ( "Maximum Principal
<br />Indebtedness "), and for other valuable consideration, the receipt of which is acknowledged, irrevocably grants,
<br />conveys and assigns to Trustee, in trust, with power of sale, the following described property located in the County
<br />of Hall, State of Nebraska.
<br />The Northeast Quarter of the Southeast Quarter (NE1 /4SE1 /4); and the West Half of the
<br />Southeast Quarter (W1 /2SE1 /4) of Section Three (3), Township Ten (10) North, Range
<br />Twelve (12), West of the 6 P.M., in Hall County, Nebraska, subject to easements,
<br />reservations and public roads either apparent or of record, and being 120 acres more or
<br />less.
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above -
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites, storage
<br />rights, dams and water stock that may now, or at any time in the future, be located on and/or used in connection with
<br />the above - described real property, payment awards, amounts received from eminent domain, amounts received from
<br />any and all insurance payments, and timber which may now or later be located, situated or affixed on and used in
<br />connection therewith (hereinafter called the "Property").
<br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents are hereby made a part of this Security Instrument by reference thereto, with the same force
<br />and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Borrower to Lender, howsoever created or arising,
<br />whether primary, secondary or contingent together with any interest or charges provided in or arising out of such
<br />indebtedness, as well as the agreements and covenants of this Security Instrument and all Related Documents
<br />(hereinafter all referred to as the "Indebtedness "). Secured debt includes, but is not limited to, the following:
<br />Promissory Note Dated December 21, 2012 in the amount of $150,000.00 and any renewals, extensions or
<br />modifications.
<br />FUTURE ADVANCES. To the extent permitted by law, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />may be no balance due under the note and regardless of whether Lender is obligated to make such future advances.
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