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200207132
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 21Ih day of May, 2002, by and among DAVID SPIEHS and
<br />TAMELA SPIEHS, husband and wife, hereinafter referred to as "Trustors," whether one or more, whose
<br />mailing address is 13038 West 13th Street Wood }liver, Nebraska 68824; THE STATE BANK OF
<br />CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "'Trustee," whose mailing address is
<br />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, Tmstors irrevocably grant, transfer, convey and assign to I nistee, in post,
<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 comprising a part of the Southeast Quarter (SE 1/4) of Section Seven (7),
<br />Township Eleven (11) North, Range Eleven (t I) West of the bill P.M., Hall County, Nebraska,
<br />more particularly described as follows: Beginning at the southeast corer of said Southeast
<br />Quarter (SE 1/4); thence westerly along and upon the south line of said Southeast Quarter (SE
<br />1/4), a distance of Four Hundred (400.0) feet, thence northerly, parallel with the cast line of said
<br />Southeast Quarter (SE 114), a distance of One Thousand One Hundred (1,100.0) feet; thence
<br />easterly, parallel with the south line of said Southeast Quarter (SE 1/4), a distance of Four
<br />Hundred (400.0) feet to a point on the East line of said Southeast Quarter (SE 1/4); thence
<br />southerly, along and upon the east line of said Southeast Quarter (SE 1/4), a distance of One
<br />Thousand One Hundred (11100.0) feet to the point of beginning,
<br />together with all buildings, improvements, fixtures, sheets, alleys, passageways, easements, rights, privileges
<br />and appurtenances located thereon, and all personal property that may be or hereafter become or 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 Trusters' note of even date herewith in the principal sum of
<br />$215,000.00, 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 Truslors hereunder pursuant to one ore more promissory notes or credit agreements (herein called
<br />"Note ");
<br />Is. the payment of other sums advanced by Beneficiary to protect the security of the Note;
<br />C. the performance of all covenants and agreements ofTmstor set forth herein; and
<br />d. all present and future indebtedness and obligations Of'I'rstors to Beneficiary whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br />TO PROTECT THE SECURITY OF 'I HIS DEED OF TRUST, TRUSTORS HEREBY COVEssANT A \D AGREE:
<br />1. To pay when due, the principal of, and the concretion, the indebtedness evidenced by the note, charges, fees and all other sum
<br />as provided o the loan instruments.
<br />2. Tmstars arc the carets or the property and have die right and retoonry to cxecutethis Deed ofTmst in respect to the property_
<br />3. To pay, when dual all taxes, special assessments and all other charges atenc rt the pmpony, before the same become delinquent.
<br />Tmstors shall pay all taxes and assessments which my be levied neon Beneficiary's interest herein or upon this Deed of Trust or the
<br />debt secured hereby, without regard to any law that may be posted imposing payment of the whole or any pan thereof upon the
<br />Beneficiary_
<br />F 1 o keep the improvements nmv or hereafter located on Me property insured against damage by fire and such oMer hazards is
<br />the Beneficiary may require, in amounts and warnpanies acceptable to the Beneficiary, Such imorance policy shall contain a standard
<br />mortgage clause M favor of Beneficiary. Travel shall precocity repair, maimuin and replace the property or any part thereof, so that,
<br />except for ordinary wear and tear, the property shall not deteriorate.
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