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2oo403305) 26. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee by an instrument recorded in the county in which this Deed of Trust is recorded. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon the Trustee by this Deed of Trust and applicable law. 27. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Deed of Trust, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. 28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Trust: Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an improvement on the Property. 0 Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Trustor owns now or in the future and that are or will become fixtures related to the Property. 0 Crops; Timber; Minerals; Rents, Issues, and Profits. Trustor grants to Beneficiary a security interest in all crops, timber, and minerals located on the Property as well as all rents, issues, and profits of them including, but not limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term "Property "). 0 Personal Property. Trustor grants to Beneficiary a security interest in all personal property located on or connected with the Property. This security interest includes all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property Trustor owns now or in the future and that are used or useful in the construction, ownership, operation, management, or maintenance of the Property. The term "personal property" specifically excludes that property described as "household goods" secured in connection with a "consumer" loan as those terms are defined in applicable federal regulations governing unfair and deceptive credit practices. Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also suffices as a financing statement and as such, may be filed of record as a financing statement of purposes of Article 9 of the Uniform Commercial Code. A carbon, photographic image or other reproduction of this Deed of Trust is sufficient as a financing statement. 29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust: EJ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Deed of Trust will remain in effect until released. 0 Agricultural Property. Trustor covenants and warrants that the Property will be used principally for agricultural or farming purposes and that Trustor is an individual or entity allowed to own agricultural land as specified by law. 0 Additional Terms. - - -- - - - - -- - - - - -- ----------- - - - - -- - - -- -- - - -- -- -- -- - -- - -- ------------- - - - - -- ------ - -- - -- - - - - -- - DESIGNATION OF HOMESTEAD Pursuant to the Farm Homestead Protection Act, designation of homestead is attached to this Deed of Trust and made a part hereof E:l has been disclaimed; the disclaimer is attached to this Deed of Trust and made a part hereof. SIGNATURES: By signing below, Trustor agrees to the terms and covenants contained in this Deed of Trust and in any attachments. Trustor also acknowledges receipt of a copy of this Deed of Trust on the date stated above on Page 1. 0 Actual authority was granted to the parties signing below by resolution signed and dated -------------------------------- - - - - -- Entity Name: Entity Name: i L Simonds (date) (Signature) (Date) � —cc -- - ----- — --- -- -- --------- ------ - ------- - ------------ --- ---------------------------- ature) Juanita Simonds (Date) (Signature) (Date) 7 Refer to the Addendum which is attached and incorporated herein for additional Trustors, signatures and acknowledgments. ACKNOWLEDGMENT: (M - C164(NE) (0107).02 STATE OF Nebraska -- ---------- - - - - -- - - - -- --------- - - - - -- - , COUNTY OF - - -- Hall - - - - - -- - -- - - - -- - - - - -- } ss. (Individual) This instrument was acknowledged before me this 2nd _ day of April _ 2004 by Jerry L. Simonds and Juanita Simonds My commission expires: -ot 'l.0 Y- State d l AhM �-_ e (Seal) SUEMAYHEW 1jOMMUR - (Notary Publi My iiWA ft JNL 2, 200 STATE OF - - - - , COUNTY OF - - } ss. This instrument was acknowledged before me this ----- -- - - - -- day of - -- - - - -- by- - -- - - (Business (Title(s)) orEntity Acknowledgment) - - - - - -- -- - - -. - - --- --- - - - - -- --_ - - -- - - - - -- - of - - - - - -- — --- - .. (Name nary) - - - - _ o Business or a _ on behalf of the business or entity. My commission expires: (Seal) (Notary Public) 'o 1993 Bankers Systems, Inc., St. Cloud, MN Form AG /CO -DT -NE 3/8/2001 page 6 of 6 (M - C164(NE) (0107).02