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THIS INSTRUMENT PREPARED BY:
<br />Pathway Bank
<br />P 0 Box 428
<br />Cairo, NE 68824
<br />AFTER RECORDING RETURN TO:
<br />Pathway Bank
<br />P 0 Box 428
<br />Cairo, NE 68824
<br />201700817
<br />(Space Above This Line For Recording Data)
<br />COMMERCIAL REAL ESTATE DEED OF TRUST
<br />This COMMERCIAL REAL ESTATE DEED OF TRUST ( "Security Instrument ") is made on February 2, 2017
<br />by the grantor(s) Spencer - Will Inc., a Nebraska Corporation, whose address is 11511 W Loup River Road,
<br />Dannebrog, Nebraska 68831 ( "Grantor "). The trustee is Pathway Bank whose address is PO Box 428, Cairo,
<br />Nebraska 68824 ( "Trustee "). The beneficiary is Pathway Bank whose address is 306 S High St, P 0 Box 428,
<br />Cairo, Nebraska 68824 ( "Lender "), which is organized and existing under the laws of the State of Nebraska.
<br />Grantor in consideration of loans extended by Lender up to a maximum principal amount of Five Hundred Fifty
<br />Thousand and 00 /100 Dollars (U.S. $550,000.00) ( "Maximum Principal Indebtedness "), and for other valuable
<br />consideration, the receipt of which is acknowledged, irrevocably grants, conveys and assigns to Trustee, in trust,
<br />with power of sale, the following described property located in the County of Hall, State of Nebraska:
<br />Legal Description: A tract of land comprising a part of the NW1 /4 of Section 4, Township 12 North, Range
<br />11 West of the 6th P.M., Hall County, Nebraska, more particularly described as follows: Beginning at the
<br />Northeast Corner of said NW1 /4, thence Southerly along the East line of said NW1 /4 a distance of 2,505.65
<br />feet to the Southeast Corner of said NW1 /4; thence Westerly along the South line of said NW1 /4 a distance
<br />of 1,738.23 feet; thence deflecting right 90 °30'50" and running Northerly a distance of 2,525.8 feet to the
<br />North line of said NW1 /4; thence Easterly along said North line of the NW1 /4 a distance of 1,738.23 feet to
<br />the place of beginning
<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,
<br />storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in
<br />connection with the above - described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in 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, prior deeds to secure debt, business loan agreements, construction loan
<br />agreements, resolutions, guaranties, environmental agreements, subordination agreements, assignments of leases
<br />and rents and any other documents or agreements executed in connection with this Indebtedness and Security
<br />Instrument, whether now or hereafter existing, including any modifications, extensions, substitutions or renewals of
<br />any of the foregoing. The Related Documents are hereby made a part of this Security Instrument by reference
<br />thereto, with the same force 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 Spencer - Will Inc., Spencer Eilenstine, and
<br />Will Taukiuvea to Pathway Bank, howsoever created or arising, whether primary, secondary or contingent,
<br />together with any interest or charges provided in or arising out of such indebtedness, as well as the agreements and
<br />covenants of this Security Instrument and all Related Documents (hereinafter all referred to as the "Indebtedness ").
<br />Secured debt includes, but is not limited to, the following: promissory note dated February 2, 2017, in
<br />the amount of $550,000.00 and any renewals, extensions or modifications.
<br />® 2004-2015 Compliance Systems, Inc. 648E -8486 - 2015.12.3.1.1039
<br />Commercial Real Estate Security Instrument - DL4007 Page 1 of 5 www.compliancesystems.com
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