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200202436
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 25th day of February, 2002, by and among ROBERT W.
<br />WAGONER and KAY E. TRACY, husband and wife, hereinafter referred to as " Trustors," whether one or
<br />more, whose mailing address is Post Office Box 308, Grand Island, Nebraska 68802; THE STATE BANK
<br />OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing address
<br />is Box 428, Cairo, Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking
<br />Corporation, hereinafter referred to as "Beneficiary," whose mailing address is Box 428, Cairo, Nebraska
<br />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 />A Tract of land in the Southwest Quarter of the Southwest Quarter (SW 1/4 SW 1/4) of Section
<br />Twenty -One (21), Township Eleven (11) North, Range Nine (9), West of the 6th P.M., more
<br />particularly described as follows:
<br />Beginning at a point on the West line of the county road as laid out by County Surveyor
<br />Baldwin in 1890, said road running along the East side of the SW 1/4 SW 1/4 of Section 21,
<br />said point being located 1920.9 feet South and 33.0 feet West of the Northeast comer (as
<br />used since 1890) of the NW 1/4 SW 1/4 of said Section 21, running thence West at right
<br />angles 300.00 feet, running thence South parallel with the West line of said county road a
<br />distance of 263.9 feet, running thence East a distance of 233.0 feet to the Southwest corner of
<br />a tract owned by the City of Grand Island, Nebraska running thence North along the West
<br />line of said tract a distance of 100 feet, running thence East along the North line of said tract
<br />a distance of 67 feet to a point on the West line of said county road, running thence North
<br />along the West line of said county road a distance of 163.9 feet to the point of beginning,
<br />containing 1.663 acres, more or less, and
<br />Part of the Southwest Quarter of the Southwest Quarter (SW 1/4 SW 1/4) of Section Twenty -One (21),
<br />Township Eleven (11) North, Range Nine (9), West of the 6th P. M., more particularly described as
<br />follows:
<br />Commencing at a point 458.6 feet north of the southeast corner of the Southwest Quarter of
<br />the Southwest Quarter (SW 1/4 SW 1/4) of Section 21, Township 11 North, Range 9, West
<br />of the 6th P.M., at an iron post; running thence north along the east side of said Southwest
<br />Quarter of the Southwest Quarter (SW 1/4 SW 1/4), one - hundred (100) feet to an iron post;
<br />running thence west at right angles, sixty -seven (67) feet; running thence south at right angles
<br />one - hundred (100) feet; and running thence east sixty-seven (67) feet to the point of
<br />beginning, all in the City of Grand Island, Hall County, Nebraska;,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges
<br />and 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 Trustors' note of even date herewith in the principal sum of
<br />$34,600.00, 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;
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