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<br />COMPLETE this portion only if the real property described
<br />consists of INDIVIDUALLY OWNED AGRICULTURAL LAND
<br />If applicable, complete ONLY ONE either A, B, or C
<br />[ ] A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />Trustor acknowledges that Trustor is about to execute the following Deed of Trust upon the Property.
<br />Trustor, and each of them if more than one, hereby disclaims Trustor's right to designate a homestead on said real estate.
<br />No part of Trustor's homestead is presently or will in the future be situated upon said real estate. Trustor understands that
<br />if Trustor establishes a homestead on any part of said real estate during the time the Deed of Trust remains unsatisfied
<br />and lien upon said real estate, there shall be no right to make a designation of homestead in the event of a foreclosure or
<br />trustee's sale with respect to said Deed of Trust.
<br />[XXj B. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />Trustor ackowledges that Trustor is about to execute the following Deed of Trust upon the Property.
<br />Trustor, and each of them if more than one, hereby waives Trustor's right to designate a homestead on said real estate.
<br />Trustor understands that Trustor has right to make a designation of homestead and that by executing this waiver. Trustor
<br />is waiving rights otherwise available for the purpose of affording them the opportunity to retain Trustor's homestead In the
<br />event of a default upon the Deed of Trust.
<br />[ ] C. DESIGNATION OF HOMESTEAD:
<br />Pursuant to the Fan Homestead Protection Act (Section 76 -1901 at seq. Revised Statutes of the State
<br />of Nebraska), Trustor hereby designates the real estate described in the "Designation of Homestead" attached hereto and
<br />incorporated herein by this reference.
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<br />MI HAEL A.PANO ICZ P TRTCIA M. PANOVVIUZ
<br />TRUSTOR
<br />THIS DEED OF TRUST, is made as of the 2 N day of APRIL , 2004, by and among the Trustor,
<br />MICHAEL A PANOWICZ AKA MIKE PANOWICZ AND PATRICIA M PANOWICZ AKA PATRICIA PANOWICZ
<br />whose mailing address is 10288 W WHITE CLOOD ROAD CAIRO NE 68824 (herein 'Trustor", whether
<br />one or more), the Trustee, FIRST STATE BANK, whose mailing address Is 119 C STREET, P O BOX 639, SHELTON,
<br />NE 68876 (herein "Trustee "), and the Beneficiary, FIRST STATE BANK, whose mailing address is 119 C STREET,
<br />P O BOX 639, SHELTON. NE 68876 (herein "Lender").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit idenfifed herein to
<br />(herein "Borrower," whether one or more) and the trust herein created, the receipt of which is hereby acknowledged,
<br />Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, forthe
<br />benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property
<br />described as follows:
<br />PARCEL
<br />OF SECTION ELEVEN (11) IN THE TOWNSHIP WTWE TWELVE (1n2) NORTH, RANGE ELEVEN (1R WEST OFOTHE 6- P.M., ALL COUNTY,
<br />(N 'h
<br />NEBRASKA
<br />PARCEL 2: THE SOUTHEAST QUARTER (BE' /.) OF SECTION TWENTY TWO (22), TOWNSHIP TWELVE (12) NORTH, RANGE ELEVEN (11),
<br />WEST OF THE 0T" P.M.. HALL COUNTY, NEBRASKA EXCEPTING A CERTAIN PARCEL OF LAND MORE PARTICULARLY DESCRIBED IN A
<br />CERTAIN PLAT AND SURVEY COMPLETED BY THOMAS L. JORDAN, REGISTERED LAND SURVEYOR ON JUNE 30,1908 AND FILED OF
<br />RECORD AS DOCUMENT NO. 86- 104972 ON SEPTEMBER 2, 1986.
<br />PARCEL 3: THE SOUTHWEST QUARTER (SW'' /.) OF SECTION TWENTY TWO (22), TOWNSHIP TWELVE (12) NORTH, RANGE ELEVEN (11),
<br />WEST OF THE 6T" P.M., HALL COUNTY, NEBRASKA EXCEPT A TACT MORE PARTICULARY DESCRIBED IN BOOK 4. PAGE 188;
<br />EXCEPTING A CERTAIN TACT DEEDED TO STATE OF NEBRASKA MORE PARTICULARLY DESCRIBED IN BOOK 86, PAGE 10; AND
<br />EXCEPTING A CERTAIN TRACT DEEDED TO THE BURLINGTON NORTHERN AND SANTE FE RAILWAY COMPANY MORE PARTICULARY
<br />DESCRIBED IN DOCUMENT NO. 98- 400374.
<br />"DEFAULT SHALL ALSO EXIST IF ANY LOAN PROCEEDS ARE USED FOR A PURPOSE THAT WILL CONTRIBUTE TO EXCESSIVE EROSION OF
<br />HIGHLY ERODIBLE LAND OR TO THE CONVERSION OF WETLAND TO PRODUCE OR TO MAKE POSSIBLE THE PRODUCTION OF AN
<br />AGRICULTURAL COMMODITY, FURTHER EXPLAINED IN 7 CFR PART 1940, SUBPART G. EXHIBIT M.-
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