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201401460
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Last modified
8/19/2014 2:25:38 PM
Creation date
3/18/2014 8:13:45 AM
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DEEDS
Inst Number
201401460
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WHEREAS, FDNB has endorsed its interest in the New Note to US Bank National <br />Association, as Custodian/Trustee for Federal Agricultural Mortgage Corporation Programs and <br />FDNB assigned its interest in the Deed of Trust to US Bank National Association, as <br />Custodian/Trustee for Federal Agricultural Mortgage Corporation Programs, by an Assignment of <br />Real Estate Deed of Trust dated 1 , 2014, and recorded in the Offic of Re ister of <br />Deeds of Hall County, Nebraska, on I e f U , 2014, in Instrument No a 1 bi) ?gid <br />201 401 460 <br />WHEREAS, Trustor has requested, and US Bank National Association, as <br />Custodian/Trustee has agreed to modify the Old Notes and Old Deed of Trust as hereinafter set <br />forth to allow for the cross - default of the Old Notes and Old Deed of Trust in the event of a default <br />under the New Note and New Deed of Trust. <br />NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein <br />contained, and upon the express conditions that the lien of the Old Deed of Trust held by US Bank <br />National Association, as Custodian/Trustee, is a valid, first and subsisting lien on the property <br />described in Exhibit "A" and that the execution of this Agreement will not impair the lien of the Old <br />Deed of Trust and that there is no existing second mortgage or other lien subsequent to the lien of <br />the Old Deed of Trust held by US Bank National Association, as Custodian/Trustee, nor any <br />outstanding contract to purchase, (for breach of which conditions, or either of them, this Agreement <br />shall not take effect and shall be void), it is hereby agreed as follows: <br />1. CROSS COLLATERALIZATION. Trustor, for itself and for all persons or entities <br />claiming by, through or under Trustor, does hereby waive any and all rights, in the event <br />of default, to require a marshaling of assets or to require the Premises which are <br />encumbered by this Mortgage to be foreclosed and sold as separate units and tracts from <br />the Premises which are encumbered by the Old Deed of Trust and New Deed of Trust. It <br />is the Trustor's intent that all of the property described in and encumbered by the Old <br />Deed of Trust and New Deed of Trust are cross - collateralized and may be combined and <br />sold with all, or such part of, the property described in and encumbered by the Old Deed <br />of Trust and New Deed of Trust as US Bank National Association, as Custodian/Trustee <br />of the instruments may elect to foreclose and sell, US Bank National Association, as <br />Custodian/Trustee's sole discretion, in the event of a default by Trustor. <br />2. CROSS DEFAULT. Any default by Trustor or Trustor's successors and assigns in <br />payment or in the performance of Trustor's duties and obligations under the New Note <br />and/or the New Deed of Trust or any loan agreement, security agreement, or any other <br />documents securing performance thereof shall also constitute and be a default under the <br />Old Notes and the Old Deed of Trust and the holder thereof shall thereupon have all <br />legal and equitable rights and remedies together with all of the rights and remedies <br />described and afforded in the New Note, the Old Notes, the New Deed of Trust, the Old <br />Deed of Trust, and in all other documents securing the loans in the case of default. <br />3. Except as specifically provided herein, the Old Notes and the Old Deed of Trust shall <br />otherwise remain unchanged and in full force and effect. <br />IN WITNESS WHEREOF, the parties have executed this Agreement to be effective as of the I g <br />day of February, 2014. <br />
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