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200209136
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 22nd day of May, 2002, by and among THOMAS A. EMERTON
<br />and SEANNE L. EMERTON, husband and wife, hereinafter referred to as " Trustors," whether one or
<br />more, whose mailing address is Post Office Box 40, Cairo, 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, 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 located in the Southwest Quarter (SW 1/4) of Section Thirty (30), Township
<br />Twelve (12) North, Range Eleven (11) West of the 6th Principal Meridian, Hall County,
<br />Nebraska, more particularly described as follows: Beginning at the Southeast corner of the
<br />SWl /4 of said Section 30; thence Northerly along the East line of said SWl /4 on an assumed
<br />bearing of N 00 °00'00" E a distance of 1648.59 feet; thence Westerly bearing N 89'54'17" W a
<br />distance of 313.07 feet; thence Southerly bearing S 00 °06'06" W a distance of 1154.37 feet;
<br />thence Westerly bearing N 89 °24'57" W a distance of 404.04 feet; thence Southwesterly bearing
<br />S 30 031'53" W a distance of 262.30 feet; thence Southerly bearing S 2 006'14" W a distance of
<br />269.66 feet to a point on the South line of said SWI /4; thence Easterly along the South line of
<br />said SW1 /4 bearing S 89 °46'15" a distance of 862.30 feet to the point of beginning; said tract
<br />containing 17.69 acres more or less, the Southerly 33 of which being Hall County road
<br />right -of -way,
<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 />I Xill
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<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />$122,265.00, 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;
<br />c. the performance of all covenants and agreements of Trustor set forth herein; and
<br />d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise;
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE:
<br />1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other sums
<br />as provided in the loan instruments.
<br />2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the property.
<br />3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become delinquent.
<br />Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the
<br />debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the
<br />Beneficiary.
<br />4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other hazards as
<br />the Beneficiary may require, in amounts and companies acceptable to the Beneficiary, Such insurance policy shall contain a standard
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