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<br /> � 99 110865 � ��
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<br /> � DEED OF TRUST WITH FUTURE ADVANCES
<br /> �s.
<br /> This DEED OF TRUST is made this 9th day of November, 1999, by and among FOURTH STREET �so
<br /> LAW CENTER, INC., A Nebraska Corporation, hereinafter refened to as "Trustors," whether one or more,
<br /> whose mailing address is Post Office Box 308, Grand Island, Nebraska 68802; THE STATE BANK OF
<br /> CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing address is
<br /> Box 428, Cairq 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 power 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 /> East Forty-four (44) feet of Lot Six (6), Block Thirty-one (31), in the Original Town of Grand Island,
<br /> Hall County, Nebraska,;
<br /> together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br /> appurtenances located thereon, and all personal property that may be or hereafter become an integral part of such
<br /> buildings and improvements, all crops raised thereon, and all water rights, all of which, including replacements
<br /> and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it being agreed
<br /> 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 /> $180,000.00, 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;
<br /> c. the performance of all covenants and agreements of Trustor set forth herein; and
<br /> d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indirect,
<br /> absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST,TRUSTORS HEREBY COVENANT AND AGREE:
<br /> 1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other
<br /> sums as provided in the loan instruments.
<br /> 2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the
<br /> property.
<br /> 3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become
<br /> delinquent. Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of
<br /> Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof
<br /> upon the Beneficiary.
<br /> 4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other hazards as
<br /> the Beneficiary may require, in amounts and companies acceptable to the Beneficiary, Such insurance policy shall contain a standard
<br /> mortgage clause in favor of Beneficiary. Trustor shall promptly repair, maintain and replace the property or any part thereof, so
<br /> that, except for ordinary wear and tear, the property shall not deteriorate.
<br /> 5. In the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and
<br /> receive all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall
<br /> apply such compensation, at its option, either to a reduction of the indebtedness secured hereby, or to repair and restore the property
<br /> so taken.
<br /> 6. The Beneficiary may, but shall have no obligation to, do any act which Trustors have agreed but failed to do, and the
<br /> Beneficiary may also do any act it deems necessary to protect the lien hereof. Trustors agree to repay, upon demand, any sums so
<br /> expended by the Beneficiary for the above purposes,and any sum so expended shall be added to the indebtedness secured hereby and
<br /> become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do
<br /> hereunder.
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