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200106598
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 6th day of July, 2001, by and among MICHAEL A. PANOWICZ
<br />and PATRICIA M. PANOWICZ, husband and wife, hereinafter referred to as " Trustors," whether one or
<br />more, whose mailing address is 10288 West White Cloud Road, Cairo, Nebraska 68824; THE STATE
<br />BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing
<br />address is Box 428, Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking
<br />Corporation, hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo, Nebraska
<br />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 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 Eleven (11), Township Twelve (12) North, Range Eleven
<br />(11), West of the 6th P.M., Hall County Nebraska; and
<br />The Southeast Quarter (SE 1/4) of Section Twenty -two (22), Township Twelve (12) North,
<br />Range Eleven (11), West of the 6th P.M., Hall County, Nebraska, execpt the following tract of
<br />land: Beginning at a point on the south line of said Section Twenty -two (22), said point being
<br />One Thousand Two Hundred Sixty -three (1263.00) feet west of the Southeast corner of said
<br />Section Twenty -two (22); thence running westerly along and upon the south line of said Section
<br />Twenty -two (22), a distance of Nine Hundred Thirty -three and Twenty -four Hundredths (933.24)
<br />feet; thence deflecting right 90o00' and running northerly, a distance of Three Hundred Sixteen
<br />and Forty -four Hundredths (316.44) feet; thence deflecting right 29o4l'55' and running
<br />northeasterly, a distance of One Hundred Ninety -nine and Fifty -four Hundredths (199.54) feet;
<br />thence deflecting right 48o53'56" and running northeasterly, a distance of Six Hundred
<br />Seventy -eight and Sixteen Hundredths (678.16) feet; thence deflecting left 25o09'33" and
<br />running northeasterly, a s distance of One Hundred Seventy -seven and Sixty -eight Hundredths
<br />(177.68) feet; thence deflecting left 28o2l'14" and running northeasterly, a distance of
<br />Sixty -three and Forty -two hundredths (63.42) feet; thence deflecting right 154o54'56" and
<br />running southerly, a distance of Seven Hundred Eighty -seven and Five Hundredths (787.05) feet
<br />to the point of beginning,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon, and all personal property that may be or hereafter become an integral part of
<br />such buildings and improvements, all crops raised thereon, and all water rights, all of which, including
<br />replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it
<br />being agreed 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 />$367,000.00, 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;
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