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<br /> DEED OF TRUST WITH FUTURE ADV ANCES
<br />
<br />
<br />
<br />This DEED OF TRUST is made this 19th day of December, 2005, by and among R. Mark Sullivan and
<br />Karen L. Sullivan, husband and wife, hereinafter referred to as "Trustors," whether one or more, whose
<br />mailing address is 905 Nebraska Hwy 2, Doniphan, NE 68832, and STATE BANK OF CAIRO, a Nebraska
<br />Banking Corporation, hereinafter referred to as "Trustee," whose mailing address is Box 428, Cairo,
<br />Nebraska 68824; and THE STATE BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter
<br />referred to as "Beneficiary," whose mailing address is Box 428, Cairo, Nebraska 68824.
<br />For valuable consideration, TrustQfS 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 />
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<br />
<br />A tract of land comprising a part of the East Half of the Northeast Quarter (E1/2NEl/4), of Section 2, Township
<br />Nine (9) North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska, more particularly described as
<br />Follows: Beginning at the northeast corner of said East Half of the Northeast Quarter (E l/2NE 1 /4); thence
<br />Running southerly along the east line of said East Half of the Northeast Quarter (El/2NEl/4), on an assumed
<br />Bearing of S 00'00' 18" E, a distance of Five Hundred Thirty-Nine and Twenty Hundreths (539.20) feet, to the
<br />Northeast corner of the Roger Sullivan Second Subdivision; thence running S 90'00'00" W, a distance of Two
<br />Hundred Fifty and Five Hundreths (250.05) feet, to the northwest corner of the Roger Sullivan Second Subdivision;
<br />Thence running S 00'00'00" E, a distance of Three Hundred Twenty Seven and Seventy Seven Hundreths (327.77)
<br />Feet, to the southwest corner of the Roger Sullivan Second Subdivision; thence running N 88'09' 12" W, a distance
<br />Of Five Hundred Seven and Five Hundreths (507.05) feet; thence running S 86'53 '51" W, a distance of Five
<br />Hundred Sixty Four and Eighty Two Hundreths (564.82) feet, to a point on the west line of said East Half of the
<br />Northeast Quarter (E l/2NE 1/4); thence running N 00'04'44" W, a distance of Nine Hundred Nine and Six Hundreths
<br />(909.06) feet, to the northwest corner of said East Half ofthe Northeast Quarter (E 1/2NE 1/4); thence running S 88'
<br />47'33", along the north line of said East Halfofthe Northeast Quarter (El/2NEl/4), a distance of One Thousand
<br />Three Hundred Twenty Two and Thirty two hundreths (1322.32) feet, to the point of beginning.
<br />
<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 />
<br />FOR THE PURPOSE OF SECURING:
<br />
<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />80,000.00 DOLLARS, together with interest at the rate or rates provided therein, and any and all renewals,
<br />modifications and extensions of such note, both principal and interest on the note being payable in accordance
<br />with the terms set forth therein, which by this reference is hereby made a part hereof; and anY;Ind all future
<br />advances and readvances to Trustors hereunder pursuant to one ore more promissory notes Of credit agreements
<br />(herein called "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 />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE:
<br />
<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
<br />mortgage clause in favor of Beneficiary. Trustor shall promptly repair, maintain and replace the property or any part thereof, so that,
<br />except for ordinary wear and tear, the property shall not deteriorate.
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