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20031498'7
<br />By execution of this instrument, Borrower acknowledges receipt of all of the proceeds of the loan or loans evidenced by the above note.
<br />This instrument secures to the Government: (1) payment of the note and all extensions, renewals, and modifications thereof,
<br />(2) recapture of any amount due under any Shared Appreciation Agreement entered into pursuant to 7 U.S.C. § 2001; (3) payment of
<br />all advances and expenditures, with interest, made by the Government; and (4) the obligations and covenants of Borrower set forth in
<br />this instrument, the note, and any other loan agreements.
<br />In consideration of any loan made by the Government under the Consolidated Farm and Rural Development Act, 7 U.S.C. § 1921
<br />et seg. as evidenced by the note, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following
<br />described property situated in the State of Nebraska, County or Counties of HALL
<br />The Southwest Quarter (SW1 /4) of Section Four (4), Township Ten (10)
<br />North, Range Nine (9) West of the 6th P.r% , Ball County, Nebraska,
<br />EXCEPTING a certain tract therefrom as recorded in Warranty Deed in
<br />Book D, Page 433, also EXCEPTING a certain tract therefrom as
<br />recorded in Warranty Deed in Book D, Page 434
<br />together with all rights (including the rights to mining products, gravel, oil, gas, coal or other minerals), interests, easements, fixtures,
<br />hereditaments, appurtenances, and improvements now or later attached thereto, the rents, issues and profits thereof, revenues and
<br />income therefrom, all water, water rights, and water stock pertaining thereto, and all payments at any time owing to Borrower by
<br />virtue of any sale, lease, transfer, or condemnation of any part thereof or interest therein (collectively called "the property "). This
<br />instrument constitutes a security agreement and financing statement under the Uniform Commercial Code and creates a security
<br />interest in all items which may be deemed to be personal property, including but not limited to proceeds and accessions, that are now
<br />or hereafter included in, affixed, or attached to "the property."
<br />Borrower COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the
<br />property and that the property is unencumbered, except for encumbrances of record. Borrower warrants specifically and will defend
<br />the title to the property against all claims and demands, subject to any encumbrances of record.
<br />This instrument combines uniform covenants for national use and non - uniform covents with limited variations by jurisdiction to
<br />constitute a uniform trust deed covering real property.
<br />UNIFORM COVENANTS. Borrower COVENANTS AND AGREES as follows:
<br />I. Payment. Borrower shall pay promptly when due any indebtedness to the Government secured by this instrument.
<br />2• Fees. Borrower shall pay to the Government such fees and other charges that may now or later be required by Government
<br />regulations.
<br />3. Application of payments. Unless applicable law or Government's regulations provide otherwise all payments received by
<br />the Government shall be applied in the following order of priority: (a) to advances made under this instrument; (b) to accrued
<br />interest due under the note; (c) to principal due under the note; (d) to late charges and other fees and charges.
<br />Initial date \ l
<br />-� J
<br />FSA 1927 -1 NE (05- 21 -03) Page 2 of 7
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