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<br />200204104
<br />THIS TRUST DEED made this 15th day of April, 2002, between MIDLAND AG
<br />SERVICE, INC., a Nebraska corporation, as TRUSTOR, whose address is 1012 S. Shady
<br />Bend Rd., Grand Island, Nebraska 68801; JOHN M. CUNNINGHAM, a member of the
<br />Nebraska State Bar Association, as TRUSTEE, whose address is 222 N. Cedar St.,
<br />P.O. Box 2280, Grand Island, Nebraska 68802; and LUELLA E. SASS, a single
<br />person, whose address is 3821 E. Seedling Mile Rd., Grand Island, Nebraska
<br />68801, and JONATHAN SASS, a single person, whose address is 3813 E. Seedling Mile
<br />Rd., Grand Island, Nebraska 68801, as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following- described real property:
<br />Parcel 1: The East Half of the Northeast Quarter (E1 /2 NE1 /4) and
<br />Lot Two (2) Mainland of Section Fourteen (14), Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska,
<br />excepting certain tracts more particularly described in Report of
<br />Appraiser recorded in Book R, Page 29; Warranty Deed recorded in
<br />Book 87, Page 1; Warranty Deed recorded in Book 136, Page 341;
<br />Warranty Deed recorded in Book 153, Page 390; Warranty Deed recorded
<br />as Document No. 77- 001804; Warranty Deed recorded as Document No.
<br />84- 003849; all of Sass Subdivision, Hall County, Nebraska, and all
<br />of Sass Second Subdivision, Hall County, Nebraska; and
<br />Parcel 2: The Southeast Quarter of the Southwest Quarter (SE1 /4
<br />SW1 /4) of Section Twenty -Four (24), Township Eleven (11) North,
<br />Range Nine (9) West of the 6th P.M., Hall County, Nebraska;
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARIES
<br />that it is lawfully seized and the owner of the above - described property that
<br />it has good right and lawful authority to sell and convey said premises and that
<br />said premises are free and clear of all liens and encumbrances, and further, that
<br />TRUSTOR will warrant and defend the title to said premises forever against the
<br />claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTOR herein
<br />contained and the payment of ONE HUNDRED THIRTY -TWO THOUSAND DOLLARS ($132,000),
<br />the TRUSTOR has executed a Trust Deed Note bearing even date, on the terms and
<br />conditions as set forth in such Trust Deed Note until paid. The principal sum
<br />and interest shall be payable in accordance with and upon the terms and
<br />conditions of said Trust Deed Note of even date, and in any event the entire
<br />principal balance due hereunder and any accrued interest shall be paid on April
<br />1, 2006. All payments due hereunder shall be paid at the address of LUELLA E.
<br />SASS set forth above, one of the BENEFICIARIES as above described, or at such
<br />other place as such BENEFICIARIES or the holders of said security shall designate
<br />in writing. All installment payments hereunder shall be applied first to the
<br />payment of interest on the unpaid balance, and the remainder of each payment of
<br />such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
<br />C. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARIES, in
<br />an amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARIES as additional insureds, with the
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<br />DEED
<br />OF TRUST
<br />200204104
<br />THIS TRUST DEED made this 15th day of April, 2002, between MIDLAND AG
<br />SERVICE, INC., a Nebraska corporation, as TRUSTOR, whose address is 1012 S. Shady
<br />Bend Rd., Grand Island, Nebraska 68801; JOHN M. CUNNINGHAM, a member of the
<br />Nebraska State Bar Association, as TRUSTEE, whose address is 222 N. Cedar St.,
<br />P.O. Box 2280, Grand Island, Nebraska 68802; and LUELLA E. SASS, a single
<br />person, whose address is 3821 E. Seedling Mile Rd., Grand Island, Nebraska
<br />68801, and JONATHAN SASS, a single person, whose address is 3813 E. Seedling Mile
<br />Rd., Grand Island, Nebraska 68801, as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and warrants to
<br />TRUSTEE, IN TRUST, his heirs, devisees, personal representatives, successors and
<br />assigns, with power of sale, the following- described real property:
<br />Parcel 1: The East Half of the Northeast Quarter (E1 /2 NE1 /4) and
<br />Lot Two (2) Mainland of Section Fourteen (14), Township Eleven (11)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska,
<br />excepting certain tracts more particularly described in Report of
<br />Appraiser recorded in Book R, Page 29; Warranty Deed recorded in
<br />Book 87, Page 1; Warranty Deed recorded in Book 136, Page 341;
<br />Warranty Deed recorded in Book 153, Page 390; Warranty Deed recorded
<br />as Document No. 77- 001804; Warranty Deed recorded as Document No.
<br />84- 003849; all of Sass Subdivision, Hall County, Nebraska, and all
<br />of Sass Second Subdivision, Hall County, Nebraska; and
<br />Parcel 2: The Southeast Quarter of the Southwest Quarter (SE1 /4
<br />SW1 /4) of Section Twenty -Four (24), Township Eleven (11) North,
<br />Range Nine (9) West of the 6th P.M., Hall County, Nebraska;
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and BENEFICIARIES
<br />that it is lawfully seized and the owner of the above - described property that
<br />it has good right and lawful authority to sell and convey said premises and that
<br />said premises are free and clear of all liens and encumbrances, and further, that
<br />TRUSTOR will warrant and defend the title to said premises forever against the
<br />claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTOR herein
<br />contained and the payment of ONE HUNDRED THIRTY -TWO THOUSAND DOLLARS ($132,000),
<br />the TRUSTOR has executed a Trust Deed Note bearing even date, on the terms and
<br />conditions as set forth in such Trust Deed Note until paid. The principal sum
<br />and interest shall be payable in accordance with and upon the terms and
<br />conditions of said Trust Deed Note of even date, and in any event the entire
<br />principal balance due hereunder and any accrued interest shall be paid on April
<br />1, 2006. All payments due hereunder shall be paid at the address of LUELLA E.
<br />SASS set forth above, one of the BENEFICIARIES as above described, or at such
<br />other place as such BENEFICIARIES or the holders of said security shall designate
<br />in writing. All installment payments hereunder shall be applied first to the
<br />payment of interest on the unpaid balance, and the remainder of each payment of
<br />such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
<br />C. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARIES, in
<br />an amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARIES as additional insureds, with the
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