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<br />This Deed of Trust is made this 17th day of January, 2003, between ANN E. FOSTER
<br />tv and LONNY R. FOSTER, wife and husband, TRUSTOR, whose address is 320 South Monroe,
<br />Grand Island, NE, 68801; MICHAEL E. SULLIVAN, TRUSTEE, whose address is 747 North
<br />Burlington Avenue, Suite 305, P.O. Box 43, Hastings, Nebraska 68902; and HASTINGS
<br />GRAIN INSPECTION, INC., A Nebraska Corporation, BENEFICIARY, whose address is 306
<br />East Park Street, Hastings, Nebraska 68901.
<br />WITNESSETH:
<br />1. Conveyance. The Trustor hereby conveys, sells and warrants to the Trustee, in
<br />trust, with power of sale, the following described real estate:
<br />Lots Nine (9) and Ten (10) in Block Twenty -one (2 1) in Charles
<br />Wasmer's Addition to the City of Grand Island, Hall County,
<br />Nebraska
<br />the intention being to convey hereby an absolute title in fee simple, together with all buildings,
<br />fixtures, improvements and appurtenances thereunto belonging.
<br />The Trustor covenants and agrees with the said Trustee and Beneficiary that it is
<br />lawfully seized of said premises; that Truster has good, right and lawful authority to sell and
<br />convey said premises; that said premises are free and clear of all liens and encumbrances; and
<br />that Trustor will warrant and defend title to said premises unto the Trustee and its successors and
<br />assigns forever against the claims of all persons.
<br />2. Trustor's Primary Obligation: For the purpose of securing performance of each
<br />agreement of Truster herein contained and the payment of One Hundred and Twenty Thousand
<br />Dollars ($120,000.00) upon the terms set forth in a written Promissory Note in the above
<br />amount, as well as future advances.
<br />3. Trustor's Secondary Riehts and Duties: While title is vested in Trustee and
<br />until filing of Notice of Default, the Trustor shall:
<br />A. Retain possession of the premises and collect the rents and revenues
<br />therefrom.
<br />B. Maintain the buildings and improvements located thereon in good
<br />condition and repair and shall not remove or sell the same without the
<br />written consent of the beneficiary which shall not be unreasonably
<br />withheld.
<br />C. Procure and maintain policies of insurance against the usual hazards of
<br />fire, hail, windstorm and other similar risks, in sums and underwritten by
<br />companies acceptable to the Beneficiary, with loss payable to the parties as
<br />their interests may appear, and deliver copies of such policies to said
<br />Beneficiary. Said insurance policies shall be in an amount of not less than
<br />the balance due on any promissory note or notes secured hereby, and shall
<br />name the Beneficiary as an additional insured thereunder.
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<br />ro DEED OF TRUST
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<br />This Deed of Trust is made this 17th day of January, 2003, between ANN E. FOSTER
<br />tv and LONNY R. FOSTER, wife and husband, TRUSTOR, whose address is 320 South Monroe,
<br />Grand Island, NE, 68801; MICHAEL E. SULLIVAN, TRUSTEE, whose address is 747 North
<br />Burlington Avenue, Suite 305, P.O. Box 43, Hastings, Nebraska 68902; and HASTINGS
<br />GRAIN INSPECTION, INC., A Nebraska Corporation, BENEFICIARY, whose address is 306
<br />East Park Street, Hastings, Nebraska 68901.
<br />WITNESSETH:
<br />1. Conveyance. The Trustor hereby conveys, sells and warrants to the Trustee, in
<br />trust, with power of sale, the following described real estate:
<br />Lots Nine (9) and Ten (10) in Block Twenty -one (2 1) in Charles
<br />Wasmer's Addition to the City of Grand Island, Hall County,
<br />Nebraska
<br />the intention being to convey hereby an absolute title in fee simple, together with all buildings,
<br />fixtures, improvements and appurtenances thereunto belonging.
<br />The Trustor covenants and agrees with the said Trustee and Beneficiary that it is
<br />lawfully seized of said premises; that Truster has good, right and lawful authority to sell and
<br />convey said premises; that said premises are free and clear of all liens and encumbrances; and
<br />that Trustor will warrant and defend title to said premises unto the Trustee and its successors and
<br />assigns forever against the claims of all persons.
<br />2. Trustor's Primary Obligation: For the purpose of securing performance of each
<br />agreement of Truster herein contained and the payment of One Hundred and Twenty Thousand
<br />Dollars ($120,000.00) upon the terms set forth in a written Promissory Note in the above
<br />amount, as well as future advances.
<br />3. Trustor's Secondary Riehts and Duties: While title is vested in Trustee and
<br />until filing of Notice of Default, the Trustor shall:
<br />A. Retain possession of the premises and collect the rents and revenues
<br />therefrom.
<br />B. Maintain the buildings and improvements located thereon in good
<br />condition and repair and shall not remove or sell the same without the
<br />written consent of the beneficiary which shall not be unreasonably
<br />withheld.
<br />C. Procure and maintain policies of insurance against the usual hazards of
<br />fire, hail, windstorm and other similar risks, in sums and underwritten by
<br />companies acceptable to the Beneficiary, with loss payable to the parties as
<br />their interests may appear, and deliver copies of such policies to said
<br />Beneficiary. Said insurance policies shall be in an amount of not less than
<br />the balance due on any promissory note or notes secured hereby, and shall
<br />name the Beneficiary as an additional insured thereunder.
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