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Farm Credit Services of America TRUST DEED AND ASSIGNMENT OF RENTS Trustorlsl: GLEASON FARMS INC, a Corporation Mailing Address: 724 S CAMERON RD WOOD RIVER NE 68883 -9645 This Trust Deed and Assignment of Rents is made September OS 2002, by and armngthe the receipt of whicw elstor(s) irrevocably transfers, conveys and assigns to Trusts for the benefit and security of Beneficiary, its successors and 'assigns, under and subject to the terms a property, located In Hall Countylles), State of Nebraska, and described as follows: NE 1/4 of Section 3, Township 11 N, Range 11 W 6th P.M., Hall County, Nebraska all Trusts now on or and profits, antl rights to possesYmn: all oil, gas, gravel, rock, or other minerals of whatever nature, inclutl1 2 geothermal resources: an personal property that may integrally belong to or hereafter become on Integral part of tM1a real estate whether attached or stashed, inclutling any appurtenances and accoutrements ll any structure or residence secured he ruby. easements and other rigMS and imerests now or at any time hereafter belonging to or In any waY Pertaining to the proper^y, whether or not sped"ally describetl herein; all above antl below ground irngand" equipment and cessdnes; antl all leases, perm tic es, or privileges, appurtenant or nonappurlenant to the property, now or hereafter issued, eMendetl or renewed by Trus to, of any State, the United States, or any department bureau, instrumentality, or agency Nercof. The foregoing is collectively referretl to in this appea nt as the "property ." his understood and agreed between Trustorlsl and Beneficiary that this Trust Deed is given to secure the repayment in full of the following described promissory noldlsl, and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its option, at the request of and to or for the account of Trustorlsl, or any of them, for any purpose, plus Interest thereun, all payable according to the terms of the notelsl or other instrumentla) modifying the same. Date Princi a. will not exceed the sum advances authorized be A VANCES IN ANV AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED This Trust Deed will be due February 01, 2007. Trustorls) hereby warrants that Trustorlsl holds fee simple title to the above described property, that Trustorls) has good and lawful authority to dead and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustorls) will warrant and defend the property, at Trustorlsl expense, against all claimants whomsoever. Trustacho also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Treaters) and each of them further covenants and agrees with Beneficlary as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, tees, or charges upon the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or n public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary. In payment of any indebtedness matured m unmatured secured by this Trust Deed. Such insurance will be in an amount at least Paul td the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Benenmary and by the national flood insurance net of 1968, as amended, and by regulations implementing the same. Trustorlsl further agree that Beneficiary is not and will not be liable for any failure by Trustorls) or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreementls6 4. In the event Trustorlsl fags to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any Insurance on the property, buildings, fixtures, attachments, or Improvements as provided herein or inme, loan agreements), Beneficiary, at its option, may make such payments or provide Insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be inediately due and payable and bear interest at the default rate provided in the totals) from the date of payment until paid. The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustorlsl in default or exercise any of Beneficiary's other rights and remedies. 5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to enforce this Trust Deed or any suit In which Beneficiary is named a defendant including condemnation and bankruptcy proceedings) Beneficiary may incur expenses and advance payments for abstract fees, attorneys fees ltd the extent allowed by law), costs, expenses, appraisal fees, and [her charges and any amounts so advanced will become part of the principal Indebtedness secured hereby, he immediately due and payable and bear interest at the default rate provided in the notes) from the date of advance until paid. 6. Any awards made to Trustorls) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is hereby authorized to collect and apply the same in payment of any indebtedness, mature or unmatured, secured by this Trust Deed. 7. In the event of default in the payment when due of any sums secured hereby (principal, Interest, advancements, or protective advanced. or failure to perform or observe any covenants and conditions contained herein, In the hated), loan agreementlel, or ady other Instruments, or any proceedings Ap N: 00271005; Primary Customer ID B: 00018606: CIF #: 83831 Legal Doc. Date: September 05, 2002 FORM 5011, Trust Deed and Assignment of Hunts Page 1 n n m on On n n z N n x m lm ➢ tJ 4 Pic c, m ca of N o n . ,� px r� n N � m c �o p G o p C17 � Nei 3 200209358 �v ..L vv r_fl p Q) y N , h Do not wme/type above this line. Sri filing Purposes only, Q-Be"r/ FOFM 5011 is -3pmI Farm Credit Services of America, P.O. Box 5080 Kathy Schulte Grand Island, NE 68802 -5080 18001503 -3276 C Farm Credit Services of America TRUST DEED AND ASSIGNMENT OF RENTS Trustorlsl: GLEASON FARMS INC, a Corporation Mailing Address: 724 S CAMERON RD WOOD RIVER NE 68883 -9645 This Trust Deed and Assignment of Rents is made September OS 2002, by and armngthe the receipt of whicw elstor(s) irrevocably transfers, conveys and assigns to Trusts for the benefit and security of Beneficiary, its successors and 'assigns, under and subject to the terms a property, located In Hall Countylles), State of Nebraska, and described as follows: NE 1/4 of Section 3, Township 11 N, Range 11 W 6th P.M., Hall County, Nebraska all Trusts now on or and profits, antl rights to possesYmn: all oil, gas, gravel, rock, or other minerals of whatever nature, inclutl1 2 geothermal resources: an personal property that may integrally belong to or hereafter become on Integral part of tM1a real estate whether attached or stashed, inclutling any appurtenances and accoutrements ll any structure or residence secured he ruby. easements and other rigMS and imerests now or at any time hereafter belonging to or In any waY Pertaining to the proper^y, whether or not sped"ally describetl herein; all above antl below ground irngand" equipment and cessdnes; antl all leases, perm tic es, or privileges, appurtenant or nonappurlenant to the property, now or hereafter issued, eMendetl or renewed by Trus to, of any State, the United States, or any department bureau, instrumentality, or agency Nercof. The foregoing is collectively referretl to in this appea nt as the "property ." his understood and agreed between Trustorlsl and Beneficiary that this Trust Deed is given to secure the repayment in full of the following described promissory noldlsl, and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its option, at the request of and to or for the account of Trustorlsl, or any of them, for any purpose, plus Interest thereun, all payable according to the terms of the notelsl or other instrumentla) modifying the same. Date Princi a. will not exceed the sum advances authorized be A VANCES IN ANV AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED This Trust Deed will be due February 01, 2007. Trustorls) hereby warrants that Trustorlsl holds fee simple title to the above described property, that Trustorls) has good and lawful authority to dead and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustorls) will warrant and defend the property, at Trustorlsl expense, against all claimants whomsoever. Trustacho also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. Treaters) and each of them further covenants and agrees with Beneficlary as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, tees, or charges upon the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or n public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary. In payment of any indebtedness matured m unmatured secured by this Trust Deed. Such insurance will be in an amount at least Paul td the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Benenmary and by the national flood insurance net of 1968, as amended, and by regulations implementing the same. Trustorlsl further agree that Beneficiary is not and will not be liable for any failure by Trustorls) or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit any acts of waste or any impairment of the value of the property. Beneficiary may enter upon the property to inspect the same or to perform any acts authorized herein or in the loan agreementls6 4. In the event Trustorlsl fags to pay any liens, judgments, assessments, taxes, rents, fees, or charges or maintain any Insurance on the property, buildings, fixtures, attachments, or Improvements as provided herein or inme, loan agreements), Beneficiary, at its option, may make such payments or provide Insurance, maintenance, or repairs and any amounts paid therefor will become part of the principal indebtedness secured hereby, be inediately due and payable and bear interest at the default rate provided in the totals) from the date of payment until paid. The advancement by Beneficiary of any such amounts will in no manner limit the right of Beneficiary to declare Trustorlsl in default or exercise any of Beneficiary's other rights and remedies. 5. In the event Beneficiary is a party to any litigation affecting the property or the lien of this Trust Deed, including any action by Beneficiary to enforce this Trust Deed or any suit In which Beneficiary is named a defendant including condemnation and bankruptcy proceedings) Beneficiary may incur expenses and advance payments for abstract fees, attorneys fees ltd the extent allowed by law), costs, expenses, appraisal fees, and [her charges and any amounts so advanced will become part of the principal Indebtedness secured hereby, he immediately due and payable and bear interest at the default rate provided in the notes) from the date of advance until paid. 6. Any awards made to Trustorls) or their successors by the exercise of eminent domain are hereby assigned to Beneficiary; and Beneficiary is hereby authorized to collect and apply the same in payment of any indebtedness, mature or unmatured, secured by this Trust Deed. 7. In the event of default in the payment when due of any sums secured hereby (principal, Interest, advancements, or protective advanced. or failure to perform or observe any covenants and conditions contained herein, In the hated), loan agreementlel, or ady other Instruments, or any proceedings Ap N: 00271005; Primary Customer ID B: 00018606: CIF #: 83831 Legal Doc. Date: September 05, 2002 FORM 5011, Trust Deed and Assignment of Hunts Page 1