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2025 071 54
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights,
<br />all water and riparian rights, wells, ditches and water stock, crops, timber including timber to be
<br />cut now or at any time in the future, all diversion payments or third party payments made to
<br />crop producers and all existing and future improvements, structures, fixtures, and replacements
<br />that may now, or at any time in the future, be part of the real estate described (all referred to
<br />as Property). This Security Instrument will remain in effect until the Secured Debts and all
<br />underlying agreements have been terminated in writing by Lender.
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security
<br />Instrument at any one time and from time to time will not exceed $7,750,000.00. Any
<br />limitation of amount does not include interest and other fees and charges validly made pursuant
<br />to this Security Instrument. Also, this limitation does not apply to advances made under the
<br />terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />4. SECURED DEBTS AND FUTURE ADVANCES. The term "Secured Debts" includes and this
<br />Security Instrument will secure each of the following:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings,
<br />modifications and replacements. A promissory note or other agreement, dated December
<br />17, 2025, from QUANDT FARMS, INC., KARL M QUANDT and KIM M QUANDT
<br />(Borrower) to Lender, with a loan amount of $2,325,000.00 and maturing on December 1,
<br />2055.
<br />B. Future Advances. All future advances from Lender to QUANDT FARMS, INC., KARL M
<br />QUANDT and KIM M QUANDT under the Specific Debts executed by QUANDT FARMS,
<br />INC., KARL M QUANDT and KIM M QUANDT in favor of Lender after this Security
<br />Instrument. If more than one person signs this Security Instrument, each agrees that this
<br />Security Instrument will secure all future advances that are given to QUANDT FARMS, INC.,
<br />KARL M QUANDT and KIM M QUANDT either individually or with others who may not sign
<br />this Security Instrument. All future advances are secured by this Security Instrument even
<br />though all or part may not yet be advanced. All future advances are secured as if made on
<br />the date of this Security Instrument. Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or future advances in any amount. Any such commitment
<br />must be agreed to in a separate writing.
<br />C. All Debts. All present and future debts from QUANDT FARMS, INC., KARL M QUANDT
<br />and KIM M QUANDT to Lender, even if this Security Instrument is not specifically
<br />referenced, or if the future debt is unrelated to or of a different type than this debt. If more
<br />than one person signs this Security Instrument, each agrees that it will secure debts incurred
<br />either individually or with others who may not sign this Security Instrument. Nothing in this
<br />Security Instrument constitutes a commitment to make additional or future loans or
<br />advances. Any such commitment must be in writing. This Security Instrument will not
<br />secure any debt for which a non -possessory, non -purchase money security interest is
<br />created in "household goods" in connection with a "consumer loan," as those terms are
<br />defined by federal law governing unfair and deceptive credit practices. This Security
<br />Instrument will not secure any debt for which a security interest is created in "margin stock"
<br />and Lender does not obtain a "statement of purpose," as defined and required by federal law
<br />governing securities. This Security Instrument will not secure any other debt if Lender, with
<br />respect to that other debt, fails to fulfill any necessary requirements or fails to conform to
<br />any limitations of the Truth in Lending Act (Regulation Z) or the Real Estate Settlement
<br />Procedures Act (Regulation X) that are required for loans secured by the Property.
<br />D. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of
<br />this Security Instrument.
<br />5. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when
<br />due and in accordance with the terms of the Secured Debts and this Security Instrument.
<br />6. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the
<br />estate conveyed by this Security Instrument and has the right to irrevocably grant, convey and
<br />sell the Property to Trustee, in trust, with power of sale. Grantor also warrants that the
<br />Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security
<br />agreement or other Tien document that created a prior security interest or encumbrance on the
<br />Property, Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under
<br />any note or agreement secured by the Tien document without Lender's prior written consent.
<br />QUANDT FARMS, INC.
<br />Nebraska Deed Of Trust
<br />NE/4JBARENBE00000000003701043N Wolters Kluwer Financial Services, Inc.®1996, 2025 Page 2
<br />Bankers SystemsT"
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