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DEED OF TRUST
<br />200316584
<br />THIS DEED OF TRUST is made on this day of , 2003. The Trustor
<br />(whether one or more) is Timothy Denman and Wendy Denman, Husband and Wife, whose
<br />address for purposes of notices in respect to this Deed of Trust is 7773 West Alda Road, Alda,
<br />NE 68810 and is sometimes herein identified as Borrower. The Trustee is Arend R. Baack,
<br />Attorney at Law and member of the Nebraska State Bar Association, whose address is 104 N.
<br />Wheeler, P.O. Box 790, Grand Island, NE 68802 -0790. The Beneficiary is AGRICULTURAL
<br />SERVICES, INC., a Nebraska corporation, whose address for purposes of notification under this
<br />Deed of Trust is 2777 N. Broadwell, P.O. Box 1428, Grand Island, NE 68802 -1428 and is
<br />sometimes herein identified as Lender.
<br />BORROWER IRREVOCABLY CONVEYS TO TRUSTEE, IN TRUST, WITH
<br />POWER OF SALE, THE FOLLOWING:
<br />The North Half of the Northwest Quarter (N1 /2NW1 /4) of Section Thirty (30),
<br />Township Ten (10) North, Range Ten (10) West of the 6th P.M., Hall County,
<br />Nebraska, Except that tract conveyed to the County of Hall, State of Nebraska, by
<br />Deed recorded in Book 125, Page 551 and Excepting therefrom tracts of land
<br />more particularly described in Plat recorded as Document No. 92- 107345 and
<br />Return of Appraisers recorded as Document No. 92- 109950,
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements,
<br />rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the
<br />rents, issues and profits, reversions and remainders thereof, and such personal property that is
<br />attached to the improvements so as to constitute a fixture, including, but not limited to, heating
<br />and cooling equipment and together with the homestead or marital interests, if any, which
<br />interests are hereby released and waived, all of which, including replacements and additions
<br />thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust
<br />and all of the foregoing being referred to herein as the "Property ".
<br />This Deed of Trust secures the total sum of Fifty -Six Thousand and No /100 Dollars
<br />($56,000.00) as evidenced by Borrower's Deed of Trust Note of even date herewith (hereinafter
<br />referred to as "Debt ") which has a stated maturity date of June 1, 2008. This Debt shall include
<br />any and all modifications, extensions and renewals thereof or thereto and any and all future
<br />advances and re- advances to Borrower (or any of them if more than one) hereunder pursuant to
<br />one or more promissory notes or credit agreements (herein called "Note ").
<br />This Deed of Trust secures to Lender the Debt evidenced by said Note, the payment of all
<br />other sums, with interest, advanced under the provisions hereafter to protect the security and the
<br />performance of Borrower's covenants and agreements.
<br />Borrower covenants that Borrower is lawfully seised of such real estate and has the legal
<br />power and lawful authority to convey the same and warrants and will defend title to the real
<br />estate against the lawful claims of all persons.
<br />BORROWER AND LENDER AGREE AS FOLLOWS:
<br />1. Borrower shall pay when due, the principal and interest as provided in said Note.
<br />2. All payments received by Lender shall be first applied to advances that may have been
<br />made by Lender and then to interest due and last to principal due.
<br />3. Borrower shall pay all general real estate taxes and special assessments against the
<br />Property before the same become delinquent.
<br />4. Borrower shall keep the improvements on said Property insured against loss by fire
<br />and hazards included with the term "extended coverage" for their insurable value and policies for
<br />the same shall include a standard mortgage clause showing Lender herein. In event of loss,
<br />Lender may snake proof of loss if not promptly made by Borrower. Insurance proceeds shall be
<br />applied to restoration or repair of the Property damaged, unless both parties otherwise agree,
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