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200406259
<br />Deed of Trust, Security Agreement and Fixture Filing
<br />(Nebraska)
<br />This Trust Deed, made this June 22, 2004, between Big B, Inc., a Nebraska corporation; Little B's Corp, a Nebraska
<br />corporation; T & E Cattle Company, a Nebraska corporation; and Thomas S. Baxter, also known as Tom Baxter and
<br />Thomas Baxter, and Elizabeth L, Baxter, also know as Elizabeth Lea Baxter, husband and wife, hereinafter,
<br />individually and collectively, called "Trustor ", whose address is 4444 West 13th Street, Grand Island, NE, 68803, and
<br />Bruce I. Smith, Attorney at Law, whose address is P. O. Box 790, Grand Island, NE 68802, hereinafter called
<br />"Trustee".
<br />Witnesseth: That Whereas, Trustor has executed one certain Revolver, Adjustable Rate and Convertible Deed of Trust
<br />Note bearing even date herewith and drawn to the order of Metropolitan Life Insurance Company, a New York
<br />corporation, whose address is shown hereafter, hereinafter called "Beneficiary", for the principal sum of -- -FIVE
<br />MILLION AND NO /100 - -- Dollars ($5,000,000.00), payable in lawful money of the United States which shall be legal
<br />tender in payment of all debts and dues, public and private, at the time of payment, payable in installments, the final
<br />installment due November 15, 2024, with interest thereon from the date of disbursement as therein provided.
<br />And Whereas, Trustor is desirous of securing the prompt payment of said Deed of Trust Note and all interest and charges
<br />thereon, in whose hands whosoever the same may be.
<br />Now, therefore, Trustor, in consideration of the premises, and for the purpose aforesaid, hath granted, bargained, sold,
<br />and conveyed, and hereby does grant, bargain, sell and convey unto the Trustee, in trust, with power of sale, pursuant to
<br />the Nebraska Trust Deeds Act (Section 76 -1001 et. seq.), all the following described real estate, premises and
<br />property, situate in the Counties of Garfield, Hall and Loup, and State of Nebraska, to wit:
<br />See attached Exhibit "A" consisting of Five (5) pages.
<br />Together with all and singular tenements, hereditaments, privileges and appurtenances, now or hereafter located upon or
<br />belonging to or in anywise appertaining to the above described property, or any part thereof, including any right of
<br />homestead and every contingent right or estate therein.
<br />The Note secured hereby expressly provides that the holder thereof may at its option change or adjust the interest rates
<br />set forth therein. The Note secured hereby further expressly provides for a revolving line of credit which is
<br />convertible to a term loan.
<br />It is agreed that all irrigation pumps, motors, engines pipes, sprinklers, control panels and accessories, and all other
<br />irrigation equipment together with all water and watering rights of every kind and description, grain and feed storage,
<br />milling, blending and handling systems, feedlot facilities, and all equipment, improvements, fixtures, appurtenances
<br />and personal property connected therewith now or hereafter placed or installed on said premises shall be construed as
<br />affixed to and a part of the real estate hereinabove described and subject to all of the provisions of this Deed of Trust.
<br />The Note secured by this Deed of Trust is further secured by Financing Statements and a separate Security
<br />Agreement, covering all equipment, improvements, fixtures, income, appurtenances and personal property as
<br />described herein and in said Financing Statements and Security Agreement.
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