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<br /> DEED OF TRUST WITH FUTURE ADV ANCES (j') :2
<br /> ~
<br />
<br />This DEED OF TRUST is made this 17th day of February, 2006, by and among Carson~Sullivan
<br />Partnership, William C. Carson and R. Matt Sullivan, Partners, hereinafter referred to as "Trustors,"
<br />whether one or more, whose mailing address is 4783 S Aida Road, Aida, Nebraska 68810; 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 />
<br />A TRACT OF LAND COMPRISING A PART OF THE WEST HALF OF THE SOUTHWEST
<br />QUARTER (Wl/2SWl/4) OF SECTION FIVE (5), TOWNSHIP TEN (10) NORTH, RANGE
<br />TEN (10) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, AND MORE
<br />PARTICULARLY DESCRIBED AS FOLLOWS: FIRST, TO ASCERTAIN THE POINT
<br />OF BEGINNING, START AT THE SOUTHWEST CORNER OF SAID SECTION FIVE (5);
<br />THENCE N 00'00'00" (ASSUMED BEARING) ALONG AND UPON THE WEST LINE OF
<br />SAID WEST HALF OF THE SOUTHWEST QUARTER (Wl/2SW1I4) A DISTANCE
<br />OF ONE THOUSAND THREE HUNDRED FORTY (1340.0) FEET; THENCE 90'00'00"
<br />E A DISTANCE OF SEVENTY (70.0) FEET TO A POINT ON THE EASTERLY RIGHT
<br />OF WAY OF ALDA ROAD AND BEING THE ACTUAL POINT OF BEGINNING;
<br />THENCE CONTINUING 90.00'00" E A DISTANCE OF FIVE HUNDRED SEVENTY
<br />ONE AND SIXTY FOUR HUNDRETHS (571.64) FEET TO A POINT ON THE
<br />PROLONG A TION OF THE WEST LINE OF ARGO FOURTH SUBDIVISION IN
<br />THE CITY OF ALDA, NEBRASKA, THENCE S 00'05'00" W ALONGAND UPON SAID
<br />PROLONGA TION AND THE WEST LINE OF SAID ARGO FOURTH SUBDIVISION A
<br />DISTANCE OF THREE HUNDRED (300.0) FEET; THENCE S 90'00'00" W A DISTANCE
<br />OF FIVE HUNDRED SEVENTY ONE AND TWO TENTHS (571.2) FEET TO A POINT
<br />ON SAID EASTERLY RIGHT OF WAY LINE OF ALDA ROAD; THENCEN 00'00'00" E,
<br />ALONG AND UPON SAID RIGHT OF WAY LINE PARALLEL WITH THE WEST LINE OF
<br />SAID WEST HALF OF THE SOUTHWEST QUARTER (Wl/2SWl/4) A DISTANCE OF
<br />THREE HUNDRED (300.0) FEET TO THE ACTUAL POINT OF BEGINNING AND
<br />CONTAINING 3.945 ACRES MORE OF LESS ALSO KNOWN AS LOT 1, P.V. VET
<br />SUBDIVISION, AN ADDITION TO THE VILLAGE OF ALDA, HALL COUNTY, NEBRASKA.
<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 ofthe real estate conveyed in trust hereby, it
<br />being agreed that all ofthe 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 />240,000 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 and all future
<br />advances and readvances to Trustors hereunder pursuant to one ore more promissory notes or 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 />I. 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 />
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