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<br />018 11
<br />Return To: Denise D. Myers
<br />611 N. Diers Ave., Ste 1
<br />Grand Island, NE 68803
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<br />TRUST DEED
<br />THIS DEED OF TRUST is made on February 2, 2017. The Trustor is Spencer -Will, Inc.,
<br />A Nebraska Corporation, (hereinafter "Borrower "). The Trustee is Denise D. Myers, of Myers &
<br />Goding, P.C., 611 N. Diers Ave., Ste. 1, Grand Island, Nebraska 68803, ( "Trustee "). The
<br />beneficiaries are Norman R. Hadenfeldt and Janice E. Hadenfeldt, husband and wife, 171 Naper
<br />Road, Dannebrog, NE 68831, (hereinafter collectively "Lender "). Borrower owes Lender the
<br />principal sum of Three Hundred Thousand and 00/100 Dollars ($300,000.00). This debt is
<br />evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which
<br />provides for payment of principal, plus accrued interest in monthly payments. The Deed of Trust
<br />(sometimes referred to herein as "security instrument ") secures to Lender: (a) the repayment of
<br />the debt evidenced by the Note, and all renewals, extensions and modifications; (b) the payment
<br />of all other sums advanced under paragraph 4 to protect the security of this Security Instrument;
<br />and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in Hall County, Nebraska:
<br />A tract of land comprising a part of the Northwest Quarter (NW1 /4) of Section Four
<br />(4), Township Twelve (12) North, Range Eleven (11), West of the 6th P.M., Hall
<br />County, Nebraska, more particularly described as follows: Beginning at the
<br />Northeast Corner of said Northwest Quarter, thence southerly along the east line
<br />of said Northwest Quarter a distance of 2,505.65 feet to the Southeast corner of
<br />said Northwest Quarter, thence westerly along the south line of said Northwest
<br />Quarter a distance of 1,738.23 feet, thence deflecting right 90 °30'50" and running
<br />northerly a distance of 2,525.8 feet to the north line of said Northwest Quarter,
<br />thence easterly along said north line of the Northwest Quarter a distance of
<br />1,738.23 feet to the place of beginning.
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all
<br />easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water
<br />rights and stock and all fixtures now or hereafter a part of the property. All replacements and
<br />additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
<br />Security Instrument as the "Property ".
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed
<br />and have the right to grant and convey the Property and that the Property is unencumbered, with
<br />the exception of a first deed of trust in the amount of $550,000.00 in favor of Pathway Bank.
<br />Borrower warrants and will defend generally the title to the Property against all claims and
<br />demands, subject to any encumbrances of record.
<br />COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal; Prepayment and Late Charges. Borrower shall promptly pay when
<br />due the principal on the debt evidenced by the Note and any prepayment and late charges due
<br />under the Note. Prepayment of principal or any part thereof, shall be allowed without the prior
<br />written consent of Lender.
<br />2. Charges; Liens. Borrower shall pay all real estate taxes and assessments attributable
<br />to the Property which may attain priority over this Security Instrument, and leasehold payments or
<br />ground rents, if any.
<br />Borrower shall promptly discharge any lien which has priority over this Security
<br />Instrument (with the exception of the deed of trust in favor of Pathway Bank) unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
<br />Lenders; (b) contests in good faith the lien by, or defend against enforcement of the lien in, legal
<br />proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or
<br />forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement
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