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<br /> . 99- �04o2s
<br /> DEED OF TRUST
<br /> This DEED OF TRUST is made this 15th day of April, 1999, by and among RP & JP FARMS, INC.,
<br /> A Nebraska Corporation, hereinafter referred to as "Trustors," whether one or more, whose mailing address
<br /> is 8813 South Burwick Road, Wood River, Nebraska 68883; THE STATE BANK OF CAIRO, a
<br /> Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing address is Box 428,
<br /> Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking Corporation,
<br /> hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo, 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 of the Southeast Quarter(SE 1/4 SE 1/4)of Section Twelve(12),Township Nine (9)North,
<br /> Range Eleven(11)West of the 6th P.M.,all in Hall 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 SECURIN�:
<br /> a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br /> $282,000.00, 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;
<br /> b. The performance of each agreement and covenant of Trustors herein contained; and
<br /> c. The payment of all sums advanced by Beneficiary under the terms of this Deed of Trust, together with
<br /> interest thereon at the rate provided in the note.
<br /> d. The above amount is secured even though all or part of it may not yet be advance. Future advances under
<br /> the agreement are contemplated and will be secured to the same e�ent as if made on the date this deed of trust is
<br /> executed.
<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 taaes and assessmsnts 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.
<br /> 6. The Beneficiary may, but shall have no obligation to, do any act which Trustors have agreed but failed to do, and the
<br /> Beneficiary may also do any act it deems necessary to protect the lien hereo£ Trustors agree to repay, upon demand, any sums so
<br /> expended by the Beneficiary for the above purposes, and any sum so expended shall be added to the indebtedness secured hereby and
<br /> become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do
<br /> hereunder.
<br /> 7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents,
<br /> issues and profits of the property and of any personal properiy located thereon with or without taking possession of the property
<br /> affected herebv, and Trustors hereby absolutely and unconditionallv assign all such rents_ issues and nrofits tn rhe l,enefir.;a,� The
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