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<br />Do not write /type above this line. For filing purposes only.
<br />FORM 5011 (9 -2000)
<br />RETURN TO Farm Credit Services of America, P.O. Box 250 Edith Wicht
<br />PREPARER: Kearney, NE 68848 -0250 (800)454 -2039
<br />Farm Credit Services of America
<br />TRUST DEED AND ASSIGNMENT OF RENTS
<br />Trustor(s):
<br />SHERRY L GANGWISH, Trustee for SHERRY L GANGWISH LIVING REVOCABLE TRUST DATED
<br />DECEMBER 9, 1996
<br />Mailing Address:
<br />PO BOX 530
<br />SHELTON NE 68876 -0530
<br />This Trust Deed and Assignment of Rents is made April 21, 2000, by and among the above named Trustor(s) and AgAmerica, FCB, "Trustee," whose
<br />mailing address is PO Box TAF -05, Spokane, Washington 99220 -4005, and Farm Credit Services of America, FLCA, "Beneficiary," whose mailing
<br />address is 206 S 19th Street, Omaha, NE 68102 -1745 in consideration of the advance by Beneficiary of the principal sum specified below, the
<br />receipt of which is hereby acknowledged, Trustor(s) irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for
<br />the benefit and security of Beneficiary, its successors and assigns, under and subject to the terms and conditions of this Trust Deed, the
<br />property, located in Hall County(ies), State of Nebraska, and described as follows
<br />The Northeast Quarter (NE1 /4) of Section Five (5), Township Nine (9) North, Range
<br />Twelve (12) West of the 6th P.M. and the Southeast Quarter (SE1 /4) of Section
<br />Thirty -Two (32), Township Ten (10) North, Range Twelve (12) West of the 6th P.M.,
<br />all in Hall County, Nebraska, excepting Railroad R.O.W. in SE1 /4 of Section 32,
<br />Township 10, Range 12, and excepting a 25 foot strip of land to the State of
<br />Nebraska per Easement filed January 3, 1958, in Book 5, at Page 321, of the records
<br />of Hall County, Nebraska
<br />together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and
<br />improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income,
<br />profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property
<br />that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and
<br />accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to
<br />or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and
<br />accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or
<br />renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively
<br />referred to in this document as the "property."
<br />It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayments in full of the following
<br />described promissory note(s), and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its
<br />option, at the request of, and to or for the account of Trustor(s), or any of them, for any purpose, plus interest thereon, all payable according to
<br />the terms of the note(s) or other instrument(s) modifying the same.
<br />Date of Note Principal Amount
<br />04/21/2000 240,000.00
<br />05/29/2001 60,000.00
<br />Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of THREE
<br />HUNDRED THOUSAND DOLLARS, ($ 300,000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s);
<br />provided further, that THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY
<br />AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
<br />This Trust Deed will be due January 01. 2021.
<br />Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to
<br />deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s)
<br />will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all
<br />rights of dower, homestead, distributive share, a1Kf exefnpticIa4n and to the above described propartY. -
<br />Trustor(s) and each of them further covenants and agrees with Beneficiary as follows:
<br />1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon
<br />the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or
<br />on public domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to
<br />the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to
<br />Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may
<br />be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be
<br />in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and
<br />will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act
<br />of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure
<br />by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
<br />maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may
<br />enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s).
<br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
<br />buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments
<br />Ap #: 00209803; Primary Customer ID #: 00082296; CIF #: 86811 Legal Doc. Date: May 29, 2001
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<br />Do not write /type above this line. For filing purposes only.
<br />FORM 5011 (9 -2000)
<br />RETURN TO Farm Credit Services of America, P.O. Box 250 Edith Wicht
<br />PREPARER: Kearney, NE 68848 -0250 (800)454 -2039
<br />Farm Credit Services of America
<br />TRUST DEED AND ASSIGNMENT OF RENTS
<br />Trustor(s):
<br />SHERRY L GANGWISH, Trustee for SHERRY L GANGWISH LIVING REVOCABLE TRUST DATED
<br />DECEMBER 9, 1996
<br />Mailing Address:
<br />PO BOX 530
<br />SHELTON NE 68876 -0530
<br />This Trust Deed and Assignment of Rents is made April 21, 2000, by and among the above named Trustor(s) and AgAmerica, FCB, "Trustee," whose
<br />mailing address is PO Box TAF -05, Spokane, Washington 99220 -4005, and Farm Credit Services of America, FLCA, "Beneficiary," whose mailing
<br />address is 206 S 19th Street, Omaha, NE 68102 -1745 in consideration of the advance by Beneficiary of the principal sum specified below, the
<br />receipt of which is hereby acknowledged, Trustor(s) irrevocably transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for
<br />the benefit and security of Beneficiary, its successors and assigns, under and subject to the terms and conditions of this Trust Deed, the
<br />property, located in Hall County(ies), State of Nebraska, and described as follows
<br />The Northeast Quarter (NE1 /4) of Section Five (5), Township Nine (9) North, Range
<br />Twelve (12) West of the 6th P.M. and the Southeast Quarter (SE1 /4) of Section
<br />Thirty -Two (32), Township Ten (10) North, Range Twelve (12) West of the 6th P.M.,
<br />all in Hall County, Nebraska, excepting Railroad R.O.W. in SE1 /4 of Section 32,
<br />Township 10, Range 12, and excepting a 25 foot strip of land to the State of
<br />Nebraska per Easement filed January 3, 1958, in Book 5, at Page 321, of the records
<br />of Hall County, Nebraska
<br />together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and
<br />improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income,
<br />profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property
<br />that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and
<br />accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to
<br />or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and
<br />accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or
<br />renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively
<br />referred to in this document as the "property."
<br />It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayments in full of the following
<br />described promissory note(s), and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its
<br />option, at the request of, and to or for the account of Trustor(s), or any of them, for any purpose, plus interest thereon, all payable according to
<br />the terms of the note(s) or other instrument(s) modifying the same.
<br />Date of Note Principal Amount
<br />04/21/2000 240,000.00
<br />05/29/2001 60,000.00
<br />Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of THREE
<br />HUNDRED THOUSAND DOLLARS, ($ 300,000.00), exclusive of interest and protective advances authorized herein or in the loan agreement(s);
<br />provided further, that THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY
<br />AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
<br />This Trust Deed will be due January 01. 2021.
<br />Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to
<br />deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s)
<br />will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all
<br />rights of dower, homestead, distributive share, a1Kf exefnpticIa4n and to the above described propartY. -
<br />Trustor(s) and each of them further covenants and agrees with Beneficiary as follows:
<br />1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon
<br />the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or
<br />on public domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to
<br />the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to
<br />Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may
<br />be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be
<br />in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and
<br />will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act
<br />of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure
<br />by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
<br />maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may
<br />enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreement(s).
<br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
<br />buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments
<br />Ap #: 00209803; Primary Customer ID #: 00082296; CIF #: 86811 Legal Doc. Date: May 29, 2001
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