|
20031000?
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />This DEED OF TRUST is made this 4th day of May, 2002, by and among EDWARD R. BECKLER
<br />and DORATHEA MAXINE BECKLER, husband and wife, hereinafter referred to as " Trustors," whether
<br />one or more, whose mailing address is 11331 West Airport Road, Cairo, Nebraska 68824; THE STATE
<br />BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Trustee," whose mailing
<br />address is 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 />The South Half of the Southeast Quarter (S 1/2 SE 1/4) of Section Thirteen (13), Township
<br />Twelve (12) North, Range Twelve (12), West of the 6th P.M., except the right -of -way of the
<br />Chicago, Burlington and Quincy Railroad Company and except all that part of the said south half
<br />of the southeast quarter lying south and west of said railroad right -of -way containing 1.8 acres
<br />conveyed by Travelers Insurance Company to Opal Piersol by Warranty Deed dated January 24,
<br />1939, and except a certain tract described in deed recorded in Book 147 at page 15 of the official
<br />Hall County deed records, and except a tract of land described in deed recorded in Book 125 at
<br />page 257 of said deed records, and except a tract containing one acre, more or less, described in
<br />deed recorded as Document No. 76- 001425 and Document No. 76- 001426 of said official deed
<br />records; together with all that part of the south half of the southwest quarter that lies north and
<br />east of the right -of -way of the Chicago, Burlington and Quincy Railroad Company; both of said
<br />tracts being subject to existing roads, easements, rights -of -way and restrictions of record; and
<br />said two tracts containing a total of 92 acres more or less, and subject to one -half of the existing
<br />indebtedness against said premises in favor of the Federal Land Bank, except a tract of land
<br />described in Warranty Deed recorded as Document No. 77 -7008 of the official Hall County Deed
<br />records and except a tract of land described in Warranty Deed recorded as Document No.
<br />98- 105826 of the official Hall County Deed records,
<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 />FOR THE PURPOSE OF SECURING:
<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />$102,000.00, 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 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 />
|