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<br />HOMESTEAD DESIGNATION WAIVER
<br />In accordance with the provisions of the Nebraska Farm Homestead Protection Act, Neb. Rev. Stat. Sections 76-
<br />1901, et. seq., as a preface to the execution, and as a part of the following Trust Deed, the undersigned Trus-
<br />tor(s) being first duly sworn, elects to Waive the Right to Designate a Homestead.
<br />I/We understand that Uwe have the right to make a designation of homestead in the following Trust Deed. The
<br />execution of this Waiver constitutes a waiver of rights otherwise available to me /us for the purpose of affording
<br />me /us the opportunity to retain my/o homestead in the event of a default upon the Trust Deed.
<br />"L&- r S.,q-a 4 -�
<br />WILLIE E. G TT, JR. CATHERINE A. GARRETT
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 3rd day of February, 2004, by and among WILLIE E.
<br />GARRETT, JR and CATHERINE A. GARRETT, husband and wife, hereinafter referred to as " Trustors,"
<br />whether one or more, whose mailing address is P O Box 298, Cairo, Nebraska 68824; THE STATE BANK
<br />OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing address
<br />is Box 428, Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking Corpora-
<br />tion, 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 />A Tract of land comprising a part of the Northwest Quarter (NW1 /4) of Section Thirty -six (36),
<br />Township Twelve (12) North, Range Twelve (12) West of the 6`h P.M., Hall County Nebraska,
<br />More Particularly Described as follows:
<br />Beginning at the Northwest corner of said NW 1/4, Section Thirty-six (36) Thence Southerly
<br />along the Westerly line of said NW 1/4 Section Thirty -six (36), a distance of Three Hundred
<br />Eighty -seven (387) Feet; thence Easterly and parallel to the Northerly line of said NW 1/4 Section
<br />Thirty -six (36) a distance of One Hundred Forty-eight (148) Feet; thence Northerly and parallel
<br />to the Westerly line of said NW '/4 Section Thirty-six (36) a distance of Three Hundred Eighty -
<br />seven (387) Feet to a point on the Northerly line of said NW 1/4 Section Thirty-six (36); thence
<br />Westerly along the Northerly line of said NW 1/4 Section Thirty-six (36) a distance of One Hun-
<br />dred Forty-eight (148) Feet; to the place of beginning and containing 1.315 acres more or less,
<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 replace-
<br />ments and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being
<br />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 />$49,000.00, 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 read -
<br />vances 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
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