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1, ! r» Deed of Trust (Nebraska) 200102492 This Trust Deed, made this 20'' day of March, 2001, between Doyle L. Hulme and Kay V. Hulme, husband and wife, whose address is 2829 Brentwood Blvd., Grand Island, NE, 68801 Trustor, and Bruce I. Smith, Attorney at Law, whose address is P. O. Box 790, Grand Island, NE 68802, Trustee, Witnesseth: That Whereas, Trustor has executed one certain Deed of Trust Note bearing even date herewith and drawn to the order of Metropolitan Life Insurance Company, hereinafter called Beneficiary, for the principal sum of -- -THREE HUNDRED FIFTY THOUSAND - -- Dollars ($350,000), payable in lawful money of the United States which shall be legal tender in payment of all debts and dues, public and private, at the time of payment, payable in installments, the final installment due January 1, 2021, with interest thereon from the date of disbursement as therein provided. And Whereas, Trustor is desirous of securing the prompt payment of said Deed of Trust Note and all interest and charges thereon, in whose hands soever the same may be. Now, therefore, Trustor, in consideration of the premises, and for the purpose aforesaid, hath granted, bargained, sold, and conveyed, and hereby does grant, bargain, sell and convey unto the Trustee, in trust, with power of sale, pursuant to the Nebraska Trust Deeds Act (Section 76 -1001 et. seq.), all the following described real estate, premises and property, situate in the County of Hall and State of Nebraska, to wit: The South Half of the Northwest Quarter of Section Thirty -two, Township Twelve North, Range Twelve West of the Sixth Principal Meridian, together with all crops grown thereon. The Southwest Quarter of Section Thirty -two, Township Twelve North, Range Twelve West of the Sixth Principal Meridian, together with all crops grown thereon, EXCEPTING a certain tract more particularly described in Warranty Deed filed September 29, 1884 in Book 3, Page 258. The West Half of the Southeast Quarter and the South Half of the Southwest Quarter of Section Four, Township Eleven North, Range Twelve West of the Sixth Principal Meridian, together with all crops grown thereon. The East Half of the Northwest Quarter of Section Nine, Township Eleven North, Range Twelve West of the Sixth Principal Meridian, together with all crops grown thereon. The Note secured hereby expressly provides that the holder thereof may at its option change or adjust the interest rates set forth therein. It is agreed that all irrigation pumps, motors, engines pipes, sprinklers, control panels and accessories, and all other irrigation equipment together with all water and watering rights of every kind and description, and all improvements, fixtures and appurtenances connected therewith now or hereafter placed or installed on said premises shall be construed as affixed to and a part of the real estate hereinabove described and subject to all of the provisions of this Deed of Trust. The Note secured by this Deed of Trust is further secured by a Financing Statement and Security Agreement of even date herewith, covering all equipment, improvements, fixtures and appurtenances as described in said Financing Statement and Security Agreement. Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues and profits of the property and of any personal property located thereon with or without taking possession of the property affected hereby, and Trustor hereby absolutely and unconditionally assigns all such rents, issues and profits to Beneficiary. Beneficiary, however, hereby consents to Trustor's collection and retention of such rents, issues and profits as they accrue and become payable, so long as Trustor is not, at such time, in default with respect to payment of any indebtedness secured hereby, or in the performance of any agreement hereunder. If any event of default described hereafter in respect to this Deed of Trust shall have occurred and be continuing, Beneficiary, as a matter of right and without notice to Trustor or anyone claiming under Trustor, and without regard to the value of the trust estate or the interest of the Trustor therein, shall have the right. to apply to any court having jurisdiction to appoint a receiver of the property. It is further agreed that in case of default in the payment of the said principal Deed of Trust Note or interest, or any part thereof, as it shall mature, or in the case of failure to keep or perform any of the covenants or agreements contained in this Deed of Trust, then the Beneficiary, its successors or assigns, shall be and is hereby authorized and empowered to take immediate possession of the said premises hereby conveyed and all crops thereon, or to collect the rents therefrom, and to apply the proceeds thereof to the payments of the debt hereby secured.