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200004615
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 5th day of June, 2000, by and among MICHAEL A.
<br />PANOWICZ and PATRICIA M. PANOWICZ, husband and wife, hereinafter referred to as " Trustors,"
<br />whether one or more, whose mailing address is 10288 West White Cloud Road, Cairo, Nebraska 68824; THE
<br />STATE BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose
<br />mailing address is Box 428, Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska
<br />Banking Corporation, hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo,
<br />Nebraska 68824.
<br />For valuable consideration, Trustors irrevocably grant, transfer, 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 property located in HALL County, Nebraska:
<br />The Southeast Quarter (SE 1/4) of Section 22, Township 12 North, Range 11, West of the 6th
<br />P.M., Hall County, Nebraska,
<br />and
<br />The North Half of the Southwest Quarter (N 1/2 SW 1/4) and the South Half of the Northwest
<br />Quarter (S 1/2 NW 1/4) of Section 11, Township 12 North, Range 11, West of the 6th P.M., Hall
<br />County Nebraska,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon, and all personal property that may be or hereafter become an integral part of such
<br />buildings and improvements, all crops raised thereon, and all water rights, all of which, including replacements
<br />and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed
<br />that all of the foregoing shall be hereinafter referred to as the "Property."
<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 />$200,000.00, together with interest at the rate or rates provided therein, and any and all renewals, modifications
<br />and extensions of such note, both principal and interest on the note being payable in accordance with the terms
<br />set forth therein, which by this reference is hereby made a part hereof; and any and all future advances and
<br />readvances to Trustors hereunder pursuant to one ore more promissory notes or credit agreements (herein called
<br />"Note
<br />b. the payment of other sums advanced by Beneficiary to protect the security of the Note;
<br />c. the performance of all covenants and agreements of Trustor set forth herein; and
<br />d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE:
<br />1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other
<br />sums as provided in the loan instruments.
<br />2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the
<br />property.
<br />3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become
<br />delinquent. Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of
<br />Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof
<br />upon the 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 acceptable 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 thereof, so
<br />that, except for ordinary wear and tear, the property shall not deteriorate.
<br />5. In the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and
<br />receive all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall
<br />apply such compensation, at its option, either to a reduction of the indebtedness secured hereby, or to repair and restore the property
<br />so taken.
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