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<br />20030108E
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<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />24�_dav
<br />THIS DEED OF TRUST, is made as of the_ of January
<br />, x82003, by and among
<br />the Truster, Kenneth W. Shultz and Nancy L. Shultz, Husband and Wife,
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<br />whose mailing address is 55 Sonia Drive, Doniphan, NE 68832 (herein "Trustor,"
<br />whether one or more),
<br />the Trustee, Bank of Doniphan, a Nebraska Curpuratiun,
<br />whose mailing address Is
<br />(herein
<br />"Trustee"), and
<br />the Beneficiary, Bank of Doniphan
<br />whose mailing address is P 0 Box 270, Doniphan, NE 68832
<br />(herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit Identified herein to
<br />Kenneth W. Shultz and Nancy L. Shultz, Husband and Wife,
<br />(herein "Borrower ", whether one or morel and the trust herein created, the
<br />receipt of which is hereby acknowledged, Truster hereby irrevocably grant., furnace, conveys and assigns to Trustee. IN TRUST. WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth. the real
<br />property, described as follows: Lot For (4), (Except tlesl portion thereof eenveyed to the Stale ref
<br />Natruka by Deed recorded in Hook 144, Page 15 of DcoLs in the OtEce of the Register of Deeds of Hall County, Nebraska) and the
<br />East Half of the Smtlltweat Quarter (EMSf11 /4) (Except the South 442 feet Ihweof) all in Scaim Tu ty-hvo (22), Township Tm (10)
<br />North, Range Nitre (9), West of the 6u P.M, Hall County, Nebraska, together with en easement for ingress and egress ova the Easterly
<br />One Hundrad (100) feet of the Southerly 442 fcet of the aforesaid East Half of the Southwest Quarter (EI/2SW 1/4) of Section Twenty-
<br />two (22), Township Ten (10) North, Range Nine (9), West of the 60 P.M., Hall County, Nebraska And The West Halfof
<br />the Southeast Quart" (WI /2SE1 /4) of Section Elevo4lLL ,lagot<ship Nina, (9) North, Range Nice (9) West of the a P.M in Had
<br />Casualty Nebraska - - -- C. bcolt J'z 1oeu, wuipnan, nn
<br />Together with all buildings, Improvements, fixtures, streets, allays, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such personal
<br />property that is attached to the improvements so as to constitute a fixture, Including, but not limited to, heating and cooling equipment
<br />and together with the homestead or marital Interests, if any, which Interests are hereby released and waived; all of which, Including
<br />replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of
<br />the foregoing being referred to herein as the "Property ".
<br />This Dead of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreement dated January 24, 2003 _, having a maturity date of January 31, 2018
<br />in the original principal amount of B 190,000.00 , and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvancea to Borrower for any of them If more than one) hereunder pursuant to
<br />one or more promissory notes or credit agreements (herein called "Note"); Ib) the payment of ether sums advanced by Lender to protect
<br />the security of the Note; (c) the performance of all covenants end agreements of Truster set forth herein; and let all present and future
<br />indebtedness and obligations of Borrower for any of them If more than one) to Lender whether direct, indirect, absolute or contingent
<br />and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure
<br />the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments
<br />of leases and rents, shell be referred to herein es the "Loan Instruments ".
<br />Truster 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 created
<br />hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Truster In writing and delivered to Lender
<br />beta,. execution of this Deed of Trust, and the execution and delivery of this Dead of trust does not violate any contract or other
<br />obligation to which Truster is subject.
<br />3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now or
<br />hereafter levied.
<br />4. Insurance. To keep the Property Insured against damage by fire, hazards, Included within the term - extended coverage ", and
<br />such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additional named
<br />Insured, with loss payable to the Lander. In case of toes under such policies, the Lender is authorized to adjust, collect and compromise,
<br />all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby
<br />and in such order as Lender may determine, gas to the Truster to be used for the repair or restoration of the Property or (in) for any ether
<br />purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such
<br />payment ever took place. Any application of proceeds to Indebtedness shall not extend or postpone the due date of any payments under
<br />the Note, or cure any default thereunder or hereunder.
<br />B. Escrow. Upon written demand by Lender, Truster shall pay to Lender, In such manner as Lender may designate, sufficient sums
<br />to enable Lender to pay as they become due one or more of the fallowing: fi) all taxes, assessments and other charges against the
<br />Property, III) the premiums on the property Insurance required hereunder, and hill the premiums on any mortgage Insurance required by
<br />Lender.
<br />6. Maintenance. Repairs and Compliance with Laws. Truster shall keep the Property in good condition and repair; shall promptly
<br />repair, or replace any Improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the
<br />Property; .hall not remove, demolish or substantially altar any of the Improvements on the Property; shall not commit, Buffer or permit
<br />any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at
<br />Trustor's coat and expense all Ilene, encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br />NBC3467A (Nona9ticullwsl need) R -1219]
<br />Q 1900 Nsllanel Bank of Commerce Tw, end. -I,e, P— snecn. Lincoln. eft-1a
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