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<br />'. ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOR READ THiS BEFORE SIGNING. 89.104847
<br />Truster understands thotthe document fhatTrustor is about to execute is a Deed of Trust and rota mortgage and thatthe power
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<br />of sale provided for in the Deed of Trust provides substantiallydifferent rights and obligations to Truster than a mortgage in the event
<br />of a default or breach of obligation under the Deed of Trust, including, butn t limited to, the Lender's right'to havethe Property sold
<br />by the Trust+se without any judicial proceeding. Truster represents a war is that this a en! was executed by
<br />Trustor bGWe the execution of the Deed of Trust PO OI C
<br />(Robert K. Poland rrustor President)
<br />Truster
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 5th day of September ,19_0— by and among
<br />the Truster, Poland ni ] . Inc. ,
<br />whose mailing address is __,]tbt3 snivXtb ems. Grand IgIanA NS (herein "Truster." whether one or more),
<br />the Trusin. Ufiiliats G Slactcbu=, a member of the NE State Bar Assn.
<br />v n sox 2260 Grand Tela�nd HE 68602 -2280 herein "Trustee' and
<br />whose mailing address is ( ').
<br />the Beneficiary, Elie Eoiats Hanle .
<br />whose mailing address is P.0, Box 1507 Grand Island, NE 68802 -1507 (herein "Lender').
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to P -01and Oil. Inc.
<br />(herein "Borrower•', whether one or more) and the trust herein created,
<br />the receipt of which 1s.hereby acknowledge. 1'ru-stor hereby irrevocably grants, transfers, convoys and assigns to Trustee, IN
<br />TRUST, WITH POWER. OF SALE, for the benefit. zttrf ;rtcurity of Lender, under and subject to the terms and conditions hereinafter set
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<br />forth, the real property, 0scribed as follows:
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<br />S9e Attached List
<br />Toge(tor with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in anywise pertaining thereto, and the rents, issues and profits. reversions and remainders thereof, and
<br />such personal property that is attached to the l.mprovements so as to constitute a fixture. including, but not limited to, heating and
<br />cooling equipment: and together with the homeetimcl or marital interests. if any, which interests are hereby released and waived; all
<br />of which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and intereritevidenced by a promissory note or credit
<br />agreement dated a /R/ Q havirg a maturity date of 9/5/97
<br />In the orip)nal principal amount of $ 740 non _ nn and any and alt modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and reedVances to Borrower (& an =j of them if more than one) hereunder
<br />pursuant Co one or more promissory notes or credit agreements (herein called "CdotY: ");.(b!: t ne payment of other sums advanced by
<br />Lender to protect the security of the Note; (c) the performance of all covenants avid agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obligatli-11% of Borrower (or any of thin is more than one) to Lender whether direct indirect,
<br />absolute or contingent and whelftgr arising by note, guaranty, overdraft or aherwise. Toe Note, this Deed of Trust and any and all
<br />other docuentsthat secure the Note = otherwise executed in connection therewith, including without limitation guarantees, security
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<br />agreements and assignments of leases and rents, shall be referred to herein as lbe "Nuin Instruments'.
<br />Truster covenants and agrees with Lender as follows:
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<br />1. Payment of Indsbtsdnasa. All indebtedness secured hereby shall ile paid w;;en due.
<br />2. TNk. Truster is the owner of the Property, has the right and aulltoricy to atn°rey the Properly, and warrants that the lion
<br />created hereby is a first and prior lien oa the Property. except for liens and encunttuances set forth by Truster in writing and
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivary of this Deed of Trustdoes not violate any
<br />contract or other obligation to which Truster is subject
<br />3. Tarns, Assesmmis. To pay before detlrquency all tares. special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />4. Inawsime. To keep the Property insured against damage by fire. hazards included within the term "extended coverage'. and
<br />such other hazards as Lender may require, in amounts and with companies acceptable to Lender naming Lender as an additional
<br />named insured, with toss payable to the Lender. In case of loss under such policies. the Lender is authorized to adjust collect and
<br />compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br />secured heratby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property
<br />or (iii) for any other purpose or abject satisfactory to lender without affecting the lien of this Deed of Trust for the full amountsecured
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<br />hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due
<br />Me o0 . any payments under the Mote, or cure any default thereunder or hereunder.
<br />S. Escrow. Upon written demand by lender, Truster shall pay to Lender, in such manner as Lender maydes:gnate. sufficient
<br />sums to enable Lender to pay as they become due one or more of the following (i) all taxes, assessments and other charges against
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<br />the.Property. firl the prertuums an the property insurance required hereunder. and tint the premiums an any mortgage insurance
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<br />rer, Jirad by Leader
<br />. YatrtYrtanee, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair, shall
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<br />promptly repair, or replace any improvement which may be damaged or des!roygd; shat► not comma or permit any waste or
<br />delenrorabon of tree Property. shalt not remove. demolish. or substant,aily allot any of the improvements on the Property. shall not
<br />comma suffer or permit any act to be done in or upon. me Property in v,olation of am ia*. ordinance. or regu'auon. and shall pay and
<br />piompfli discharge at Trus•for'3 cnt and expense ail lie!;%, ercurr.btances ar,d charges or assessed og3rn31 Ilse
<br />Property or any part thereo!
<br />7 E A tWH ( 60min. Lender is rereby assigned ail comparibano t. a*afas. Camay; ^EIS atnd other payments or tw,ef (nereinuftet
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<br />..Proceeds 1 in cGnnKY on Wall C4ryd 'eTns!rgn of other taking of taro Property ar pantnomo*l c? for con.iayanze,n Deli/ of conde•nra•
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<br />t,n Larger ghee` be en!Xe'd a! rts opf:on to corrimer!;e, appear in ?rrd p•osecute n r5 o;%r7 r+arr•e ary ac!'arr, o• rtacce-dings arfd
<br />8ha ; g S? be of t ±:ea Gj make any con ttforri,se cr sett :emE ^) -n SJ t t7k.ng c, darna3^ In tt a Event any pnrt,cm of
<br />C , r4.]1% rlarJa:ta
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