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�— _ sue.. �i3i� ACIPOWLEDGEMENT OF DEED OF TRUST TRUSTOR READ THIS BEFORE SIGNING: Trustor undersUnds that the document that Truslor Is about to execute Is a Deed of Trust and not a mortgage and tUt the power of sale provided for In t1N Deed of Trust provides substanttaily different rights and obligations to Trustor than a mortgage in the event of a default or breach of obligation under the Dead of Trust, Including, but not Ilmitnd to, the Lender's right to have the Property &old by the Trustee without any judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by Trustor before the execution of the Deed of Trust. Hidden Farms Inc. stor Trustor DEED OF TRUST WATH FUTURE ADVANCES THIS DEED OF TRUST, Is made as of the 5th day of November tg 90 by and among the Trustor, Hidden Farms, Inc by Gary Leece President , whose mailing address is Rt. ! • Box 255. Grand 1gl nd, NE 68801 (herein "Trustor;' whether one or more), the Trustee, Leland B. Jones whose mailing address is 1218 f: t, , Aurora, NE 68818 (herein "Trustee'), and the Beneficiary, First National Bank of Marquette , whose mailing address is P.O. Box 39, Marquette, NE_ 6CI354 (herein "Lender). FOR VALUABLE CONSIDERATION, including Lender's erte ."n of credit identified herein to Hidden Farmu Inc - by Gary Leece, President (herein "Borrower ", whether one or more) and the trust herein created, the receipt of which is hereby acknowledged. Trustor hereby irrevocablg grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, fer the benefit and security of Sender, un&w and subject to the terms and conditions hereinafter set forth, the real property, describetws. follows: A tract of Land comprising the Westerly Six Hundred Sixty (660.0) Feet of the Northerly Ore 'ticusand Three Hundred Twenty (1,320.00) Feet of the Northeast Quarter (NE}) OF section Eight (8), Township Twelve (12) North, Range Nines '(3)r ;hest of the in I+a!ll County, Nebraska Together with all buildings, improvemeMs, lx%.res. passageways, easements, rights, privileges and appurte- nances located thereon or in anywise pertainir-g Irereto, a' "d: iJ-,i.= rents, issues and profits, reversions and remainders thereof, and such iwtavnai praiporiy rho is at'.achad to the;i:xp. �°..n^.ent°a so as to constitute a fixture. including. but not limited to. heating and cooling equipment; and together with the horrasi)aW or marital Interests, if any, which interests are hereby released and waived. all cf which, including replacements and additions r-zreto, is hereby declared to be a pan of the real estate secured by the lien of this Deed of Trust and all of the foregoing being referred to herein as the "Property ". This Deed of Trust shall secure 1,$) the payment of the principal sum and interest evidenced by a promissory note or credit agreement dated NIZyelrhrrt 5.9 ,1990 having a maturity date of November 5. 1995 in the original peo7opaJ amck rt c1J g 132,13C2.00- ard• any and all modifications, extensions and renewals thereof or thereto and any at--d: ail. future advances and rea(,.- ,,v.ces to Borrower (or any of them if more than one) hereunder pursuant to one or more promissoy motes or credit agreerna,- s (herein called "Note'): (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the performance cl i0 covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower ;cr any of them if more than one) to Lender whether direct, Indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other docuents that secure the Note or otherwise executed in connection therewith. Including without limitation guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments'. Trustor covenants and agrees with Lender as follows: Payment of Indebtedetasz.A1 indebtedness secured hereby shall be paid when cue. :�. Ti @. Truro( is the cmac-r al' the Property, has the right and authority to convey the Property. and warrants that the lien creatad.hereby is m firet artd g -rjgr. ;en on the Property. except for liens and encumbrances set forth by Trustor in writing and delmeradto of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any canf»LV di• e,tur obigaton to which Trustor is subject. :3: Taxes, Assessments. To pay before delinquency al! tares. ,sl.r- 4:C and all other charges against the Property now. or hereafter levied. 4. Insurance. To keep the Property insured against damage Icy Ii i a. la.zar(is included :vithin the term 'extended coverage ", and such other hazards as Lender may require. in amounts and with compames.occeptable to Lender, naming Lender as an additional named insured, with loss payable to the Lender. In case of loss under such policies. the Lender is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) toany indebtedness secured hereby and in such order as Lender may determine. (It) to the Trustor to be used for the repair or restoration of the Property or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to Indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder S. Escrow. Upon written demand by Lender. Trustor shall pay to Lender, In such manner as Lender may designate, sufficient sums to enable Lender to pay asthey became due one or more of the following: (i) all taxes. assessments and other charges against the Property. iii) the premiums on the property Incurance required hereunder. and po the premiums on any mortgage insurance required by Lender. 6. Maintenance. Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair, shall promptly repair, or replace any improvement which may be damaged or destroyed. shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property: shall not commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance. or regulation, and shall pay and promptly discharge at Trustor s cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any pan thereof. 7. Eminent Domain. Lender Is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemna- tion Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings. and shall also be entitled to make any compromise or settlement in connection with such taking or damage In the event any portion of NBC 3187 (Naiayaurtu,gl Dawi Rev 10 88 0 1-M Natwnal Bang of Commene T,ugl and Sev,np Asswat,on L -neoln NaODUs I��.'. r. J .I f