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<br />HOMESTEAD DESIGNATION WAIVER
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<br />In accordance with the provisions of the Nebraska Farm Homestead Protection Act, Neb. Rev.
<br />Sections 76 -1901, et. seq., as a preface to the execution, and as a part of the following Trust Deed,
<br />undersigned Trustor(s) being first duly sworn, elects to Waive the Right to Designate a Homestead.
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<br />I/We understand that Uwe have the right to make a designation of homestead in the following Trust
<br />Deed. The execution of this Waiver constitutes a waiver of rights otherwise available to me /us for the purpose
<br />of affording me /us the opportunity to retai m homestead in the event of a default upon the Trust Deed.
<br />�J2 , �. I A - 0 w" `�o I D � 3 & -
<br />MITCHE L L. SPIEHS ARILYN SPIEHS
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 30th day of April, 2004, by and among MITCHELL L. SPIEHS
<br />and JARILYN SPIEHS, husband and wife, hereinafter referred to as " Trustors," whether one or more,
<br />whose mailing address is 5525 North 90th Road, Cairo, Nebraska 68824; THE STATE BANK OF CAIRO,
<br />a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing address is Box 428,
<br />Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking Corporation,
<br />hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo, Nebraska 68824.
<br />For valuable consideration, Trustors irrevocably grant, transfer, convey and assign to Trustee, in trust,
<br />with pcwer of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br />this Deed of Trust, the following described real property located in HALL County, Nebraska:
<br />A tract of land comprising a part of the Southwest Quarter of the Northwest Quarter (SW 1/4
<br />NW 1/4) of Section Twenty -Four (24), Township Twelve (12) North, Range Eleven (11) West of
<br />the 6th P.M., Hall County, Nebraska and more particularly described as follows:
<br />Beginning at the southwest corner of said Northwest Quarter (NW 1/4); thence northerly along
<br />and upon the west line of said Northwest Quarter (NW 1/4), a distance of Four Hundred
<br />Eighty -Seven (487.0) feet; thence deflecting right 89° 28' 14" and running easterly a distance of
<br />Nine Hundred Sixty -Six and Five Hundredths (966.05) feet; thence deflecting right 900 31' 46"
<br />and; running southerly, parallel with the west line of said Northwest Quarter (NW 1/4), a
<br />distance of Five Hundred Thirteen and Eighty -Nine Hundredths (513.89) feet to a point on the
<br />south line of said Northwest Quarter (NW 1/4); thence deflecting right 91° 03' 55" and running
<br />westerly along and upon the south line of said Northwest Quarter (NW 1/4), a distance of Nine
<br />Hundred Sixty -Six and Eighteen Hundredths (966.18) feet to the point of beginning and
<br />containing 11.098 acres, of which 0.369 acres is presently occupied by public road right of way.,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon, and all personal property that may be or hereafter become an integral part of
<br />such buildings and improvements, all crops raised thereon, and all water rights, all of which, including
<br />replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it
<br />being agreed that all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />513,000.00, together with interest at the rate or rates provided therein, and any and all renewals, modifications
<br />and extensions of such note, both principal and interest on the note being payable in accordance with the terms
<br />set forth therein, which by this reference is hereby made a part hereof, and any and all future advances and
<br />readvances to Trustors hereunder pursuant to one ore more promissory notes or credit agreements (herein called
<br />"Note ");
<br />b. the payment of other sums advanced by Beneficiary to protect the security of the Note;
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