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,200305073
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 24"i day of April, 2003, by and among Craig D. Boshart and
<br />Karla J. Boshart, husband and wife, hereinafter referred to as " Trustors," whether one or more, whose
<br />mailing address is 1220 South 150 "' Road, Wood River, Nebraska 68883; THE STA'L'E BANK OF CAIRO,
<br />a Nebraska Banking Corporation, hereinafter referred to as "'Trustee," whose mailing address is Box 428,
<br />Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking Corporation,
<br />hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo, Nebraska 68824.
<br />For valuable consideration, Trustors irrevocably grant, transfer, convey and assign to Trustee, in trust,
<br />with power of sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of
<br />this Deed of Trust, the following described real property located in Hall County, Nebraska:
<br />The East Half of the Northeast Quarter of the Southeast Quarter (EI /2 NF,I /4 SEl /4), Section Twenty -
<br />Three (23), Township Eleven (11) North, Range Twelve (12), West of the 6" P.M., Hall County, Nebraska,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />mid appurtenances located thereon, and all personal property that may be or hereafter become an integral part of
<br />such buildings and improvements, all crops raised thereon, and all water rights, all of which, including
<br />replacements and additions thereto, are hereby declared to be a part of the real estate conveyed in trust hereby, it
<br />being agreed that all of the foregoing shall be hereinafter referred to as the "Property."
<br />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness evidenced by Tmstors' note of even date herewith in the principal sum of
<br />$15,135.00, together with interest at the rate or rates provided therein, and any and all renewals, modifications
<br />and extensions of such note, both principal and interest on the note being payable in accordance with the terms
<br />set forth therein, which by this reference is hereby made a part hereof; and any and all future advances and
<br />readvances to Trustors hereunder pursuant to one ore more promissory notes or credit agreements (herein called
<br />"Note ");
<br />b. the payment of other sums advanced by Beneficiary to protect the security of the Note;
<br />c. the performance of all covenants and agreements of Tmstor act forth herein; and
<br />d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct,
<br />indirect, absolute or contingent and whether arising by note, guaranty, overdraft gr otherwise
<br />TO PROTECT THE SECURITY OF THIS DEED OF" 1' RUST',' I'RUSTORS HEREBY COVENANT AND AGREE:
<br />1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by tie note, charges, fees and all other sums
<br />as provided in the loan instruments.
<br />2. Tuitions are the owners of the property and have the right and authority to execute this Deed of rest in respect to the property.
<br />3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become delinquent.
<br />'1'rustors shall Fay all taxes and assassmo.as which may be levied upon Beneficiary's interest herein or upon this Deal of Trust or the
<br />debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any pan thereof upon the
<br />Beneficiary.
<br />4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other liazands as
<br />the Beneficiary may require, in amounts and companies acceptable to the Beneficiary, Such insurance policy shall contain a standard
<br />mortgage clause in favor of Beneficiary. Tmstor shall promptly repair, maintain and replace the property or any part thereof, so that,
<br />except for ordinary wear and tear, the property shall not deteriorate.
<br />5. ht the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and receive
<br />all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall apply such
<br />compensation, at its option, either to a reduction of the indebtedness secured hereby, or to repair and restore the property so taken.
<br />6. The Beneficiary may, but shall have no obligation to, do any act which Trustors have agreed but failed to do, and the
<br />Beneficiary may also do any act it deems necessary to protect the lien hereof Trustors agree to repay, upon demand, any suns so
<br />expended by the Beneficiary for the above purposes, and any sum so expended shall be added to the indebtedness secured hereby and
<br />become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do hereunder.
<br />7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues
<br />and profits of the property and of any personal property located thereon with or without taking possession of the property affected
<br />hereby, and Tmstors hereby absolutely and unconditionally assign all such rents, issues and profits to the beneficiary. The beneficiary,
<br />however, hereby consents to Trusters' collection and retention of such rents, issues and profits, so long as Trustors are not, at such
<br />time, in default with respect to payment of any indebtedness secured hereby, or in the performance of any agreement hereunder. if any
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