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�9_ 1(�503f�
<br /> rights and remedies.
<br /> 5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to
<br /> enforce this Trust Deed or any suit in which Beneficiary is named a defendant (including condemnation and bankruptcy proceedings) Beneficiary
<br /> may incur expenses and advance payments for abstract fees, attorneys fees Ito the extent allowed by Iaw1, costs, expenses, appraisal fees, and
<br /> other charges and any amounts so advanced will become part of the pnncipal indebtedness secured hereby, be immediately due and payable and
<br /> bear interest at the default rate provided in the notels) from the date of advance until paid.
<br /> 6. Any awards made to Trustor(s) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is
<br /> hereby authorized to collect and apply the same in payment of any indebtedness, mature or unmatured, secured by this Trust Deed.
<br /> 7. In the event of default in the payment when due of any sums secured hereby Iprincipal,interest,advancements,or protective advancesl,or failure
<br /> to perform or observe any covenants and conditions contained herein,in the note(s►,loan a�reementls►,or any other instruments,or any proceedings
<br /> is brought under any Bankruptcy laws, Beneficiary, at its option, may declare the entire mdebtedness secured hereby to be immediately due and
<br /> payable and the whole will bear interest at the default rate as provided in the notels)and Beneficiary may immediately authorize Trustee to exercise
<br /> the Power of Sale granted herein in the manner provided in the Nebraska Trust Deeds Act, or, at the option of the Beneficiary, may foreclose the
<br /> Trust Deed in the manner provided by law for the foreclosure of mortgages on real property, including the appointment of a Receiver upon ex parte
<br /> application, notice being hereby expressly waived, without regard to the value of the property or the sufficiently thereof to discharge the
<br /> indebtedness secured hereby or in the loan agreementlsl. Delay by Beneficiary in exercising its rights upon default will not be construed as a w�iver
<br /> thereof and any act of Beneficiary waiving any specified default will not be construed as a waiver of any future default. If the proceeds under such
<br /> sale or foreclosure are insufficient to pay the total indebtedness secured hereby,Trustor�s)do hereby agree to be personally bound to pay the unpaid
<br /> balance, and Beneficiary will be entitled to a deficiency judgment.
<br /> 8. Should Beneficiary elect to exercise the Power of Sale granted herein, Beneficiary will notify Trustee who will record, publish, and deliver to
<br /> Trustorls) such Notice of Default and Notice of Sale as then required by law and will in the manner provided by law, sell the property at the time
<br /> and place of sale fixed in the Notice of Sale,either as a whole or in separate lots, parcels,or items and in such order as Trustee will deem expedient.
<br /> Any person may bid at the sale including Trustor�sl, Trustee, or Beneficiary.
<br /> 9. Trustor(s) hereby requests a copy of any Notice of Default or Notice of Sale hereunder to be mailed by certified mail to Trustor(s) at the
<br /> addressles) set forth herein.
<br /> 10. Upon default,Beneficiary,either in person or by agent,with or without bringing any action or proceeding and with or without regard tc the value
<br /> of the property or the sufficiency thereof to discharge the indebtedness secured hereby,is authorized and entitled to enter upon and take possession
<br /> of the property in its own name or in the name of the Trustee and do any acts or expend any sums it deems necessary or desirable to protect or
<br /> preserve the value of the property or any interest therein,or increase the income therefrom; and with or without taking possession of the property
<br /> is authorized to sue for or otherwise collect the rents, issues, crops, profits, and income thereof, including those past due and unpaid, and apply
<br /> the same upon any indebtedness secured hereby or in the loan agreement(s).
<br /> No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided
<br /> or permitted, but each will be cumulative, will be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity
<br /> or by statute, and may be exercised concurrently, independently or successively.
<br /> 11. Trustor�s) acknowledges that the duties and obligations of Trustee will be determined solely by the express Provisions of this Trust Deed or
<br /> the Nebraska Trust Deeds Act and Trustee will not be liable except for the performance of such duties and obligations as are specifically set forth
<br /> therein, and no implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action by it in good faith and
<br /> reasonably believed by it to be authorized or within the discretion or nghts of powers conferred upon it by this Trust Deed or state law.
<br /> 12. The integrity and responsibility of Trustorls) constitutes a part of the consideration for the obligations secured hereby. Should Trustorls) sell,
<br /> transfer, or convey the property described herein, without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire
<br /> indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default.
<br /> 13. Assignment of Rents including Proceeds of Mineral Leases. Trustorls)hereby assigns,transfers,and conveys to Beneficiary all rents,royalties,
<br /> bonuses,and delay moneys or other proceeds that may from time to time become due and payable under any real estate lease or under any oil,gas,
<br /> gravel, rock, or other mineral lease of any kmd including geothermal resources now existing or that may hereafter come into existence, covenng
<br /> the property or any part thereof. All such sums so received by Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at
<br /> its option, may turn over and deliver to Trustorls) or their successors in interest, any or all of such sums without prejudice to any of Beneficiary's
<br /> rights to take and retain future sums, and without prejudice to any of its other rights under this Trust Deed. This assignment will be construed to
<br /> be a provision for the payment or reduction of the debt,subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the
<br /> property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this assignment will become inoperative and of no
<br /> further force and effect.
<br /> 14. This Trust Deed constitutes a Security Agreement with respect to all the property described herein.
<br /> 15. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any portion of this Trust Deed is determined to
<br /> be void or unenforceable,that determination will not affect the validity of the remaining portions of the Trust Deed.
<br /> GLEASON FARMS INC, A Corporation
<br /> By //i ,. ..i � �_�C���i�?S�+'�� By� ,C.t h �Q► �./D!��11—��
<br /> 1�EN A resi ent B J L b , ecretary
<br /> CORPORATE BORROWER ACKNOWLEDGMENT(SEAL)
<br /> STATEOF NEBRASKA 1
<br /> ) ss
<br /> COUNTY OF HALL �
<br /> On this 13th day of Ma , 1999 , before me, a Notary Public, personally appeared
<br /> eason
<br /> to m� e t e person name in an w o execute t e�ging instrument, w o i say t at e s e is resi en�--�
<br /> the corporation; that the seal affixed to the instrument is the seal of the corporation;that the instrument was signe an sea e on e a o t e
<br /> corporation by authority of its board of directors; and acknowledged the execution of the instrument to be the veluntary act and deed of the
<br /> corporation by it and by him/her voluntarily executed. �Q ,
<br /> 1 S EA LI GE�AL NOTARY'8tri d N�buki ��G., ��/-C.�-�,
<br /> RONALU L RdBER � eiser
<br /> ��.����� (Type name under signature)
<br /> My commission expires Nov. � Notary Public in and for said County and State
<br /> CORPORATE BORROWER ACKNOWLEDGMENT(SEAL)
<br /> STATEOF NEBRASKA ►
<br /> HALL ) ss
<br /> COUNTY OF 1
<br /> On this 13th day of Ma , 19 99, before me, a Notary Public, personally appeared
<br /> —�everi�s��eas�ar�—
<br /> to me nown to e t e person name m an w o execute t e oregoing instrument, w o i say t at e s e is S o
<br /> the corporation; that the seal affixed to the instrument is the seal of the corporation; that the instrument was signe an sea e on e a o t e
<br /> corporation by authority of its board of directors; and acknowledged the execution of the instrument to be the voluntary act and deed of the
<br /> corporation by it and by him/her voluntarily executed.
<br /> (SEAL) 6�`""`� �" -�
<br /> Ron ld L. Reiser �
<br /> Nov. 11 2002 N tae name undersignaturel
<br /> My commission expires r y Public in and for said County and State
<br /> ��.�^���
<br /> iIONALO V lIEI�ER
<br /> My ConYn.ExP.NoAR 11.?AQ!
<br /> -& ,
<br /> i
<br /> Ap N:00167791; Primary Customer ID #: 00078606; CIF #: 83831 Legal Doc. Date: May 13, 1999^ ^
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