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rn -^ m cDi► ` r'r'1 [l (� Z � = G�p O --1 � � � Q. n 2 'G�' 7p � -z-I rn '^ 1 � m -� � o �1./ � \ 1 � �� 4�-� � � � y 1 � -� "*� Z F-� "� � � ° � a � � � � / ,� r � r_. V� � � r D � � tn �' O � O � � � � D � N � � 99- 1��sa3� lo v not;wn ype a ove �S lwAe.'� ar iing purposes on y. � k �;.�' �: :� t �_:_�,�;:��, FOFM 5011 112-981 RETURN TO Farm Credit Services, P.O. Box 50� �'�" '��t` � Sandi Sweeney PREPARER: Grand Island, NE 68802-5080 °,"'" " (3081382-9025 Farm Credit Services of America TRUST DEED AND ASSIGNMENT OF RENTS Trustorls): GLEASON FARMS INC, a Corporation Mailing Address: 724 S CAMERON RD WOOD RIVER NE 68883-9645 This Trust Deed and Assignment of Rents is made Ma 13 1999,by and among the above named Trustorls)and AgAmerica,FCB, "Trustee,"whose mailing address is PO Box TAF-05, Spokane,Wa ,ington 0-4005,and Farm Credit Services of America FLCA, "Beneficiary," whose mailing address is 206 S 19th Street, Omaha NE 6810 -1745 in consideratiorl of t e advance by Beneficiary of the pnncipal sum specified below, the receipt of w ic is ere y ac now e ge , an any uture,additional, or protective advances made at Beneficiary's option, Trustorls) irrevocably transfers, conveys and aassigns to Trustee, IN`TRUST,WITH POWER OF SALE,for the benefit and security of Beneficiary, its successors and assigns, under and subject to the terms and conditions of this Trust Deed, the property, located in Hall Countyliesl, State of Nebraska, and described as follows: NE 1/4 of Section 3, Township 11N, Range 11W 6th P.M. � Hall County, Nepra�ica . together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and improvements now on or hereafter placed upon the property;all appurtenances,water,irrigation,and drainage nghts;all rents,issues,uses,income, profits,and rights to possession;all oil,gas,gravel,rock,or other minerals of whatever nature,including geothermal resources;all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached,including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or renewed by Trustorls►, any State,the United States, or any department, bureau, mstrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property." It is understood and agreed between Trustorls) and Beneficiary that this Trust Deed is given to secure: (a) Promissory note(s) described as follows: Date of Note Princi al Amount /1 /1 , . payable according to the terms of the note(s), and any addendum to, reamortization or restructuring of the notelsl. (b) The repayment in full by of any and all future and additional loans or advances which may be made by Beneficiary, at its option,at the request of, and to or for the account of Trustorlsl, or any of them, for any purpose, plus interest on all loans or advances, under any notels) or other instrumentls)modifying,refinancing,extending,renewing,reamortizing,or restructuring,new existing,or additional indebtedness or any part thereof, all payable according to the terms of the note(s) or other instrumentlsl; provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of NINETY-THREE THOUSAND DOLLARS(S 93 000.001, exclusive of interest and protective advances authorized herein or in the loan agreement(s); provide urt er, t at PAR�A�fI-ALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. (c) The repayment in full of all amounts advanced by Beneficiary at its option, as protective advances authorized herein, in the loan agreementls►, or in other instrument(s) which evidence such advances, plus interest on all such advances, payable as provided in the notelsl, loan agreementls), or other instrumentlsl. (d) The payment in full of any and all other past, present, or future, direct or contingent, debts and liabilities of Trustor(s) or other makers to Beneficiary of any nature whatsoever. This Trust Deed will be due February 01, 2009, or upon the payment in full of all sums secured hereby. Trustorls) hereby warrants that Trustor�s) holds fee simple title to the above described property, that Trustorls) has good and lawful authority to deed and encumber the same,that the property is free and clear of all liens and encumbrances,except encumbrances of record,and that Trustorls) will warrant and defend the property, at Trustorls) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Trustorls) and each of them further covenants and agrees with Beneficiary as follows: 1. To pay all liens,judgments,or other assessments ayainst the property,and to pay when due all assessments,taxes, rents,fees,or charges upon the property or under any lease, permit, license,or pnvilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreementls). 4. In the event Trustorls)fails to pay any liens,judgments, assessments,taxes, rents,fees,or charges or maintain any insurance on the property, buildings,fixtures,attachments,or improvements as provided herein or in the loan agreementlsl,Beneficiary,at its option,may make such payments or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the pnncipal indebtedness secured hereby, be immediately due and payable and bear interest at the default rate provided in the notels)from the date of payment until paid.The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustor�s) in default or exercise any of Beneficiary's other I Ap #: 00167791; Primary Customer ID #: 00078606; CIF #: 83831 Legal Doc. Date: May 13, 1999 �___ ,