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Hundred Fifty-Seven and Fifty-Three Hundredths (757.53) feet to the center of said Section Seven (7);
<br />thence continuing S 89° 37' 59" E along and upon the north line of said West Half of the Southeast
<br />Quarter (W1/2 SE1 /4) a distance of One Thousand Three Hundred Seventeen and Seventy-Nine
<br />Hundredths (1,317.79) feet to the point of beginning
<br />Parcel 5: A tract of land comprising a part of the Southwest Quarter (SW1 /4) of Section Seven (7),
<br />Township Ten (10) North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska, and more
<br />particularly described as follows: Beginning at a point on the north line of said Southwest Quarter
<br />(SW1 /4) said point being Seven Hundred Fifty Seven and Fifty- Three. Hundredths (757.53) feet west of
<br />C the center of said Section Seven (7); thence N 89° 311 59" W along and upon the north line 'of said
<br />G14 Southwest Quarter (SW1 /4) a distance of Four Hundred Five and Forty -Four Hundredths (405.44) feet;
<br />thence S 399 29' 14" E a distance of Three Hundred Sixty -Nine and Fifty-Eight Hundredths `(369.58) feet;
<br />thence S 51° 04' 14" a distance of Two Hundred Twenty-Five and Forty -Nine Hundredths (225.49) feet;
<br />thence N 00° 40' 29" W a distance of Four Hundred Twenty-Four and Thirty -Five Hundredths (42435)
<br />feet to the point of beginning
<br />together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, crops, and
<br />improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income,
<br />profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property
<br />that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and
<br />accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to
<br />or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and
<br />accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or
<br />renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively
<br />referred to in this document as the "property."
<br />It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayment in full of the following described
<br />obligations, regardless of whether Mortgagor(s) is(are) liable thereon, and all future and additional loans or advances, protective or otherwise, which
<br />may be made by Beneficiary, at its option, at the request of, and to or for the account of Trustor(s), the parties liable under the note(s) or credit
<br />agreement(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s), credit agreement(s) or other
<br />instrument(s) modifying the same.
<br />Date of Note(s) or Credit Agreement(s) Principal Amo u� nt(s)
<br />07/2/04 720 0
<br />Provided, however, that the total principal indebtedness outstanding and secured hereby at any one time will not exceed the sum of SEVEN
<br />HUNDRED TWENTY THOUSAND DOLLARS IS 720 000.00), exclusive of interest and protective advances authorized herein or in theme
<br />agreement(s); prove e urt er, that THIS PARAGRA H SH LL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL
<br />ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
<br />This Trust Deed will be due July 01, 2024.
<br />Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to
<br />deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s)
<br />will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all
<br />rights of dower, homestead, distributive share, and exemption in and to the above described property.
<br />Trustor(s) and each of them further covenants and agrees with Beneficiary as follows:
<br />1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon
<br />the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or
<br />on public domain.
<br />2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to
<br />the satisfaction of Beneficiary, Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to
<br />Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may
<br />be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be
<br />in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and
<br />will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act
<br />of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure
<br />by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair,
<br />maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may
<br />enter upon the property to inspect the same or to perform any acts authorized herein or in the credit agreement(s).
<br />4. In the event Trustor(s) fails to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any insurance on the property,
<br />buildings, fixtures, attachments, or improvements as provided herein or in the loan agreement(s), Beneficiary, at its option, may make such payments
<br />or provide insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be
<br />immediately due and payable and bear interest at the default rate provided in the note(s) or credit agreement(s) from the date of payment until paid.
<br />The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustor(s) in default or exercise any
<br />of Beneficiary's other rights and remedies.
<br />5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to
<br />enforce this Trust Deed or any suit in which Beneficiary is named a defendant (including condemnation and bankruptcy proceedings) Beneficiary
<br />may incur expenses and advance payments for abstract fees, attorneys fees (to the extent allowed by law), costs, expenses, appraisal fees, and
<br />other charges and any amounts so advanced will become part of the principal indebtedness secured hereby, be immediately due and payable and
<br />bear interest at the default rate provided in the note(s) or credit agreement(s) from the date of advance until paid.
<br />6. Any awards made to Trustor(s) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is
<br />hereby authorized to collect and apply the same in payment of any indebtedness, mature or unmatured, secured by this Trust Deed.
<br />7. In the event of default in the payment when due of any sums secured hereby (principal, interest, advancements, or protective advances), or failure
<br />to perform or observe any covenants and conditions contained herein, in the note(s), credit agreement(s), or any other instruments, or any
<br />proceedings is brought under any Bankruptcy laws, Beneficiary, at its option, may declare the entire indebtedness secured hereby to be immediately
<br />due and payable and the whole will bear interest at the default rate as provided in the note(s) or credit agreement(s) and Beneficiary may immediately
<br />authorize Trustee to exercise the Power of Sale granted herein in the manner provided in the Nebraska Trust Deeds Act, or, at the option of the
<br />Beneficiary, may foreclose the Trust Deed in the manner provided by law for the foreclosure of mortgages on real property, including the appointment
<br />of a Receiver upon ex parte application, notice being hereby expressly waived, without regard to the value of the property or the sufficiently thereof
<br />to discharge the indebtedness secured hereby or in the loan agreement(s). Delay by Beneficiary in exercising its rights upon default will not be
<br />construed as a waiver thereof and any act of Beneficiary waiving any specified default will not be construed as a waiver of any future default. If
<br />the proceeds under such sale or foreclosure are insufficient to pay the total indebtedness secured hereby, Trustor(s) do hereby agree to be personally
<br />bound to pay the unpaid balance, and Beneficiary will be entitled to a deficiency judgment.
<br />8. Should Beneficiary elect to exercise the Power of Sale granted herein, Beneficiary will notify Trustee who will record, publish, and deliver to
<br />Trustor(s) such Notice of Default and Notice of Sale as then required by law and will in the manner provided by law, sell the property at the time
<br />and place of sale fixed in the Notice of Sale, either as a whole or in separate lots, parcels, or items and in such order as Trustee will deem expedient.
<br />Any person may bid at the sale including Trustor(s), Trustee, or Beneficiary.
<br />9. Trustor(s) hereby requests a copy of any Notice of Default or Notice of Sale hereunder to be mailed by certified mail to Trustor(s) at the
<br />address(es) set forth herein.
<br />10. Upon default, Beneficiary, either in person or by agent, with or without bringing any action or proceeding and with or without regard to the value
<br />of the property or the sufficiency thereof to discharge the indebtedness secured hereby, is authorized and entitled to enter upon and take possession
<br />of the property in its own name or in the name of the Trustee and do any acts or expend any sums it deems necessary or desirable to protect or
<br />preserve the value of the property or any interest therein, or increase the income therefrom; and with or without taking possession of the property
<br />is authorized to sue for or otherwise collect the rents, issues, crops, profits, and income thereof, including those past due and unpaid, and apply
<br />the same upon any indebtedness secured hereby or in the loan agreement(s).
<br />No remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided
<br />or permitted, but each will be cumulative, will be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity
<br />or by statute, and may be exercised concurrently, independently or successively.
<br />11. Trustor(s) acknowledges that the duties and obligations of Trustee will be determined solely by the express provisions of this Trust Deed or
<br />the Nebraska Trust Deeds Act and Trustee will not be liable except for the performance of such duties and obligations as are specifically set forth
<br />therein, and no implied covenants or obligations will be imposed upon Trustee; Trustee will not be liable for any action by it in good faith and
<br />reasonably believed by it to be authorized or within the discretion or rights of powers conferred upon it by this Trust Deed or state law.
<br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the obligations secured hereby. Should Trustor(s) sell,
<br />transfer, or convey the property described herein, without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire
<br />indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any other default.
<br />13. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers, and conveys to Beneficiary all rents, royalties,
<br />Ap #: 00346469; Primary Customer ID #: 00036994; CIF #: 38311 Legal Doc. Date: July 29, 2004
<br />FORM 5011, Trust Deed and Assignment of Rents Page 2
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