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20000119�
<br /> DEED OF TRUST WITH FUTURE ADVANCES
<br /> This DEED OF TRUST is made this lOth day of February, 2004, by and among DIJNALD C.
<br /> RASMLTSSEN, as an individual, hereinafter referred to as "Trustors," whether one or more, whose mailing
<br /> address is 3606 Ave "L", Kearney, Nebraska 68847, THE STATE BANK OF CAIRQ, a Nebtaska
<br /> Banl�ng Corporation, hereinafter referred to as "Trustee," whose maiting address is Box 428, Cairo,
<br /> Nebraska 68824; and THE STATE BANI� OF CAIRO, a Nebraska Bank�ng Corporation, hereinafter
<br /> referred to as "Beneficiary," whose mailing address is Bog 428, Cairo, Nebrast�a 68824.
<br /> For valuable consideration, Trustars irrevocably grant, tra,nsfer, convey and assign to Trustee, in trust,
<br /> with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br /> this Deed of Trust, the following described real properly located 'm COUNTYMAC Caunty, Nebraska:
<br /> T'he Southwest Quarter(SW 1/4) and T'he South One-Half(S 1/2) of the Norfhwest Quarter(NW 1/4) of
<br /> Section Five (5), Township Tweh,e (12)North, Range Eleven (11), West of the 6th P.M., in Hall County,
<br /> Nebraska.
<br /> together with alt buildings, improyements, fv�tures, streets, alleys, passageways, easements, rights, privileges and
<br /> appurtenances located therean, a,nd all persanal properry that may be or hereafter become an integral part of such
<br /> buildings and improvements, all crops raised thereon, a.nd all water ri ts all of whic
<br /> and additions thereto, are hereby declared to be a part of the real estatgconue ed in trust here� replacements
<br /> that a11 of the foregQing shall be hereinafter referred to as the "Property.'� y b3'� it being agreed
<br /> FOR THE PURPOSE OF SECURING:
<br /> a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br /> $60,000.00, together with interest at the rate or rates provided therein, and any and a11 renewals, modifications
<br /> and extensions of such note, both principal and interest on the note being payable in accordance with the terms set
<br /> forth therein, which by this reference is hereby made a part hereof; a,nd any a,nd a11 future advances and
<br /> readvances to Trustors hereunder pursuant to one ore more prornissary nates or credi# agreements (herein called
<br /> "Note");
<br /> b. the payment of other sums actvanced by Beneficiazy to protect the security of the Note;
<br /> c. the performance of a11 covenants and agreernents of Trustor set forth herein; and
<br /> d• all present and future indebtedness and abliga.tions of Trustors to Beneficiary whether direct, indirect,
<br /> absolute or contingent and whether arising by note, guaranty, overdraft ar atherwise;
<br /> TO PROTECT THE SECURITY OF THI3 DEED OF TRUST,TRUSTORS HEREBY COV�,'NANT AND AGREE:
<br /> 1. To pay when due,the principal o�and the interest on,the indebtedness evidenced by the note,charges,fees and all other sums
<br /> as provided in the loan instruments.
<br /> 2. Trustors are the owners af the property and have the right and authority to execute this Deed of Tnist in respect to the property.
<br /> 3. To pay,when due,all taxes,special assessments and all other charges against the property,before the same become delinquent.
<br /> Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the
<br /> debt secured hereby, without regard to any law that may be ertacted imposing payment of the whole or any part thereof upon the
<br /> Beneficiary.
<br /> 4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other hazards as
<br /> the Beneficiary may require,in amounts and companies accepta.ble to the Beneficiary, Such insurance policy shall contain a standard
<br /> mortgage clause in favor of Beneficiary. Trustor shall promptly repair, maintain and replace the property or any part thereo� so that,
<br /> except for ordinary wear and tear,the property shall not deteriorate.
<br /> 5. In the event the property,or any part thereo�shall be taken by eminent domain,the Beneficiary is entifled to collect and receive
<br /> all compensation which may be paid for any property taken or for damages to property not taken,and the Beneficiary sha11 apply such
<br /> compensation,at its option,either to a reduction of the indebtedness secured hereby,or to repair and restore the property so taken. '
<br /> 6. The Beneficiaty may, but shall have no obligation to, do any act which Tnastors have agreed but failed to do, and the
<br /> Beneficiazy may also do any act it deems necessary to protect the lien hereof. Trustors agree to repay, upon demand, any sums so
<br /> expended by the Beneficiary for the above purposes,and any sum so expended shall be added to the indebtedness secured hereby and
<br /> become secured by the lien hereof. The Beneficiary shall no incur any iiability because of anyttring it may do or omit to do hereunder.
<br /> 7. The Beneficiary shall have the right,power and authority during the continuance of this Deed of Trust to collect the rents,issues
<br /> and profits of the property and of any personal property located thereon with or wi#hout tatanQ t�ossession of the nrr,�m.affP�*P,�
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