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<br />THIS DEED OF TRUST, is made as of the 27TH day of DECEMBER , 2004, by and among the Trustor,
<br />RODNEY J. LILLEY AND PAMELA QUICK - LILLEY, HUSBAND AND WIFE______, whose mailing address is
<br />7566S84 TH STREET, LAVISTA, NE 68128 (herein " Trustor", whether one or more), the Trustee,
<br />FIRST STATE BANK, whose mailing address is 119 C STREET, P O BOX 639, SHELTON, NE 68876 (herein
<br />"Trustee "), and the Beneficiary, FIRST STATE BANK, whose mailing address is 119 C STREET, P O BOX 639,
<br />SHELTON, NE 68876 (herein "Lender").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to
<br />RODNEY J. LILLEY AND PAMELA QUICK - LILLEY, HUSBAND AND WIFE (herein "Borrower," whether one or
<br />more) and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocably grants,
<br />transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender,
<br />under and subject to the terms and conditions hereinafter set forth, the real property described as follows:
<br />LOT FOUR (4), IN THE NORTHWEST QUARTER (NW' /.) OF SECTION TWENTY (20), TOWNSHIP NINE (9), RANGE
<br />ELEVEN (11) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, EXCEPTING THEREFROM A TRACT OF LAND
<br />MORE PARTICULARY DESCRIBED IN QUIT CLAIM DEED RECORDED IN THE REGISTER OF DEEDS OFFICE IN
<br />BOOK 131, PAGE 539.
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof,
<br />and such personal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and
<br />cooling equipment; and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of
<br />which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed
<br />of Trust and all of the foregoing being referred to herein as the "Property".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory notes or credit
<br />agreements dated DECEMBER 27, 2004 , having a maturity date of DECEMBER 25, 2034 , in the original principal
<br />amount of $ 112,546.04. and any and all modifications, extensions, and renewals thereof or thereto and any and all future
<br />advances and readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes or credit
<br />agreements (herein called "Note "); (b) the payment of other sums advanced by Lender to protect the security of the Note; (c) the
<br />performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of
<br />Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note,
<br />guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or otherwise
<br />executed in connection therewith, including without limitation guarantees, security agreements and assignments of leases and rents,
<br />shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to
<br />Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or
<br />other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the
<br />Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage ",
<br />and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional
<br />named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />compromise, all claims thereunder and shall have the option of applying all or part of 'the Insurance proceeds (i) to any indebtedness
<br />secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property or
<br />(iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br />hereby before such payment ever took place. Any applications of proceeds to indebtedness shall not extend or postpone the due date
<br />of any payments under the Note, or cure any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against
<br />the Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br />promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br />deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not
<br />commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and
<br />promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or accessed against the
<br />Property or any part thereof.
<br />7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief
<br />(hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of
<br />condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings,
<br />and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of
<br />the Property is so taken or damaged, Lender shall have the option in its sole and absolute discretion, to apply all such proceeds, after
<br />deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby
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