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RE- RECORDED
<br />200400708 200400148
<br />AGRICULTURAL DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 5th day of January. 2004, by and among the
<br />Trustor, Roland R Engel and Sandra E. Engel, Husband and Wife, whose mailing address is
<br />8887 W. Guenther Rd. (herein, Trustor", whether one or more), the Trustee, Earl D. Ahlschwede,
<br />Attorney -In -Law, whose mailing address is PO Box 2300, Grand Island NE 68802, (herein
<br />"Trustee "), and the Beneficiary, Equitable Federal Savings Bank of Grand Island, whose mailing
<br />address is PO Box 160 113 -115 N. Locust St. Grand Island NE 68802, (herein "Lender")
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein
<br />to Roland R Engel and Sandra E. Engel, Husband and Wife (herein "Borrower", whether one or
<br />more) and the trust herein created, the receipt of which is hereby acknowledged. Trustor hereby
<br />irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE,
<br />for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set
<br />forth, the real property, described as follows:
<br />The Southwest Quarter (SW1 /4) of Section Six (6), Township Ten (10) North, Range Ten (10)
<br />West of the 6th P.M., Hall County, Nebraska
<br />MORE PARTICULARLY DESCRIBED ON EXHIBIT "A" HERETO ATTACHED
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways,
<br />easements, rights, privileges and appurtenances located thereon or in anywise pertaining thereto,
<br />and the rents, issues and profits, reversions and remainders thereof, and such personal property
<br />that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and cooling equipment; and together with the homestead or marital interests, if any, which interests
<br />are hereby released and waived; all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the "Property'.
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced
<br />by a promissory note or credit agreement dated 01 -05 -2004, having a maturity date of 04 -01 -2014,
<br />in the original principal amount of $97.500.00, and any and all modifications, extensions and
<br />renewals thereof or thereto and any and all future advances and readvances to Borrower (or any of
<br />them if more than one) hereunder pursuant to one or more promissory notes or credit agreements
<br />(herein called "Note "); (b) the payment of other sums advanced by Lender to protect the security of
<br />the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to
<br />Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the
<br />Note or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan
<br />Instruments."
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the
<br />Property, and warrants that the lien created hereby is a first and prior lien on the Property, except for
<br />liens and encumbrances set forth by Trustor in writing and delivered to Lender before execution of
<br />this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract
<br />or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all
<br />other charges against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included
<br />within the term "extended coverage ", and such other hazards as Lenders may require, in amounts
<br />and with companies acceptable to Lender, naming Lender as an additional named insured, with loss
<br />payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect
<br />and compromised, all claims thereunder and shall have the option of applying all or part of the
<br />insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender may
<br />determine, (ii) to the Trustor to be used for the repair or restoration of the Property or (iii) for any
<br />other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the
<br />full amount secured hereby before such payment ever took place. Any application of proceeds to
<br />indebtedness shall not extend or postpone the due date of any payments under the Note, or cure
<br />any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner
<br />as Lender may designate, sufficient sums to enable Lender to pay as they become due one or more
<br />of the following; (i) all taxes, assessments and other charges against the Property, (ii) the premiums
<br />on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
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