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20020724.5
<br />Lot Two (2), Richmond Second Subdivision, In the City of Grand Island, Hell County, Nebraska
<br />The property is located in Lincoln County at 605 East Frances, North Platte, Nebraska 69101.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or ednnf party payments made 10 crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />sal estate described tall referred to as Property), This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been torminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $2,600,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />cnvenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, nmdifications and
<br />replacements. A promissory note, No. 12, dated June 11, 2002, from Grantor to Lander, with a loan
<br />alTIOPIFIL of $2,500,000,00 with an interest rate of 6 5 Percent per year. One or more of the debts secured
<br />by this Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing In this Security Instrument constitutes a
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In
<br />the event that Lender fails to provide any required notice of the right of rescission, Lender waives any
<br />subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument.
<br />This Security Instrument will not secure any debt for which a non possessory, non purchase money security
<br />interest is created in "household goods" In connection with a "conswmer loan," as those terms are defined by
<br />federal law governing unfair and deceptive credit practices. This Security Instrument will not secure any
<br />debt for which a security interest is created in "margin stock" and Lender does not obtain a "statement of
<br />purpose," as defined and required by federal law governing securities
<br />C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br />with power of sale Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br />record.
<br />6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prier security Interest or encumbrance on the Property, Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any note or
<br />agreement secured by the lion document without Lender's print written consent.
<br />7, CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, ranotiffabourcit lease payments,
<br />ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to
<br />provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's
<br />payment. Grantor will defend title to the Property against any claims that would impair The lien of this Security
<br />Instrument. Grantor agrees to assign to Lender, as requested by I ender, any rights, claims or defenses Grantor
<br />may have against parties who supply labor or materials to maintain or improve the Property.
<br />8. DUE ON SALE. Lender may, at Its option, declare the entire balance of the Secured Debts to be immediately
<br />duo and payable upon the creation of, or contract for the creation oi, a transfer or sale of The Property. This
<br />right Is subject to the restrictions imposed by federal law governing the. preemption of state due-on -sale laws,
<br />as applicable.
<br />9. TRANSFER OF AN INTEREST IN THE GRANTOR. If Grantor is an entity other than a natural person (such as
<br />a corporation or other organizati gur Lender may demand immediate payment if
<br />A. A beneficial Interest in Grantor is sold or transferred.
<br />B. There is a change in either the identity or number of members of a partnership or similar entity.
<br />C. There Is a change in ownership of more than 25 percent of the voting stock of a corporation or similar
<br />entity.
<br />However, Lender may not demand payment in thin above situations if It is prohibited by law as of the date of
<br />this Security Instrument
<br />10. WARRANTIES AND REPRESENTATIONS. Grantor makes to Lender the following warranties and
<br />representations which will continue as long as this Security Instrument is in effect
<br />"v Properties, LL.c.
<br />Initials
<br />NE4Xxx10000600W
<br />000]fi5a06]0et 102Y '1996 Danko's protons, no at Cloud Me ratio 2
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