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200306787 Beginning at the Northwest comer of said N/2 N W /4; thence Easterly along and upon the North line of said N/2 N W/4 a distance of 1,783.0 feet; thence South 10 09'W a distance of 372 feet; thence N 880 57E a distance of 678.2 feet; thence S 38° 31' F, a distance of 665.7 feel; thence S 820 23' E a distance of 387.6 feet; thence S 64° 52' E a distance of 89.4 feet; thence S 890 OF E a distance of 428.42 feet to a point on the East Line of said NW /4 NE /4; thence S 0° 29'F, along and upon the East line of said N W/4 NE/4 a distance of 338 feet to the Southeast Corner of said NW /4 NF, /4; thence S 89° 40'W along and upon the South Line of said NW /4 NE /4 a distance of 156.75 feet; thence N 430 24'W a distance of 258.33 feet; thence N 720 43' W a distance of 735.32 feet; thence N 35'40'W a distance of 542.98 feet; thence S 89° 52'W a distance of 152.25 feet; thence S 520 4T W a distance of 875.5 feet; thence S 890 32' W a distance of 189.5 feet; thence N 69° 37' W a distance of 602.64 feet; thence S 69° 34' W a distance of 865.7 feet, to a point on the Westerly Line of said N/2 NW /4; thence Northerly along and upon the Westerly Line of said N/2 NW /4 a distance of 1,069.45 feet to the point of beginning. You are in breach of the following obligations for which the Trust Property was conveyed as security: 1. You have failed to make the full May 1, 2001 payment to United Nebraska Bank in the amount of $15,000.00 under your First Amended Plan of Reorganization (United States Bankruptcy Court for the District of Nebraska, Case NO. BK 99 -41 121)(the "Plan "), which effective May 1, 2002, amounted to a short fall of approximately $11,000.00. 2. You have failed to make the January 10, 2003 unsecured claim payment to Ag Services of America, Inc. in the amount of $2,078.15 as required by the Plan. 3. You have failed to make the May 1, 2002 and 2003 secured machinery payments to State Bank of Cairo in the approximate amount of $20,100.00 per year as required by the Plan, for an approximate total owing of $40,200.00. Since Ag Services of America, Inc. has a security interest in the machinery securing such missed payment, the security interest of Ag Services of America, Inc. is impaired by your failure to make the Plan payment. 4. You have failed to make the May 1, 2003 real estate secured claim payment to Ag Services of America, Inc. in the amount of $42,050.15 as required by the Plan. Page 2 of 3