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<br />DEED OF TRUST
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<br />THIS DEED OF TRUST, is made as of the 17th day of June 2002 , by and among
<br />the Trustor, Matthew R. Jackman and LaDonna M. Jackman, husband and wife
<br />the Trustee,
<br />(herein "Borrower'),
<br />Bank
<br />and the Beneficiary, United Nebraska Bank
<br />(herein "Lender ").
<br />(herein "Trustee"),
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and the trust herein created, the receipt
<br />of which is hereby acknowledged, Borrower hereby irrevocably grants, transfers, 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:
<br />A TRACT OF LAND LOCATED IN THE SE 1/4 OF SECTION 24, TOWNSHIP 9 NORTH, RANGE 12 WEST OF THE
<br />6TH P.M., HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
<br />COMMENCING AT THE SW CORNER OF SAID SE 1/4 THENCE S 89 DEGREES, 59 MINUTES, 34 SECONDS E
<br />(ASSUMED BEARING) ALONG THE SOUTH LINE OF SAID SE 1/4 A DISTANCE OF 449.28 FEET TO THE EAST
<br />LINE OF DENMAN ROAD AND PLACE OF BEGINNING, THENCE CONTINUING S 89 DEGREES, 59 MINUTES, 34
<br />SECONDS E ALONG SAID SOUTH LINE A DISTANCE OF 864.91 FEET TO THE SE CORNER OF THE SW 1/4 SE 1/4
<br />OF SAID SECTION 24, THENCE N 00 DEGREES, 39 MINUTES, 27 SECONDS W A DISTANCE OF 1076.82 FEET TO
<br />THE EAST LINE OF DENMAN ROAD, THENCE S 38 DEGREES, 17 MINUTES, 26 SECONDS W ALONG SAID EAST
<br />LINE A DISTANCE OF 1304.88 FEET TO THE BEGINNING OF A CURVE CONCAVE TO THE NORTHWEST
<br />SUBTENDED BY A RADIUS OF 1164.82 FEET, THENCE ALONG SAID CURVE THE CHORD OF WHICH BEARS S
<br />39 DEGREES, 58 MINUTES, 22 SECONDS W AN ARC DISTANCE OF 68.48 FEET TO THE PLACE OF BEGINNING.
<br />IT IS UNDERSTOOD BY BORROWER AND LENDER THAT THIS INSTRUMENT, WHICH IS SECURED BY THE ABOVE
<br />REFERENCED PROPERTY, IS A CONSTRUCTION SECURITY AGREEMENT AND THAT IT DOES OR WILL SECURE AN
<br />OBLIGATION WHICH THE BORROWER HAS OR WILL INCUR FOR THE PURPOSE OF MAKING AN IMPROVEMENT OR
<br />IMPROVEMENTS ON PROPERTY HEREINBEFORE DESCRIBED.
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof; including, but
<br />not limited to, heating and cooling equipment and such personal property that is attached to the improvements so as to constitute a
<br />fixture; all of which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien
<br />of this Deed of Trust and all of the foregoing being referred to herein as the "Property
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interests evidenced by Borrower's note dated
<br />June 17, 2002 , having a maturity date of December 17, 2002 , in the original principal
<br />amount of $ 95,000.00 and any and all modifications, extensions and renewals thereof or thereto (herein called "Note); (b)
<br />the payment of other sums advanced by Lender to protect the security of this Deed of Trust, with interest thereon as provided in the
<br />Note; and (c) the performance of all covenants and agreement to Borrower set forth herein.
<br />Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows:
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on, and any fees
<br />or charges provided in, the Note or in this Deed of Trust.
<br />2. Title. Borrower is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except as may otherwise be set forth herein, and the execution and delivery of
<br />this Deed of Trust does not violate any contract or other obligation to which Borrower is subject.
<br />3. Taxes, Assessments. To pay when due all taxes, special assessments and all other charges against the Property and, upon
<br />written demand by Lender, to pay to Lender such amount as may be sufficient to enable the Lender to pay such taxes, assessments or
<br />other charges as they become due.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage ",
<br />and such other hazards as Lender may require, in amounts and with companies acceptable to the Lender, and with loss payable to the
<br />Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder and
<br />shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as
<br />Lender may determine, (ii) to the Borrower to be used for the repair of restoration of the Property or (iii) for any other purpose or
<br />object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment
<br />ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the
<br />Note, or cure any default thereunder or hereunder.
<br />11601.CV (4/01) G11569 Page 1 of4
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