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<br />This DEED OF TRUST is made this 19th day of April, 2006, by and among James R. Ford Living
<br />Revocable Trust, James R. Ford Trustee, and Louise M. Ford Living Revocable Trust, Louise M Ford
<br />Trustee, hereinafter referred to as "Trustors," whether one or more, whose mailing address is P.o. Box 453
<br />Cairo, Nebraska 68824; THE STATE BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter
<br />referred to as "Trustee," whose mailing address is Box 428, Cairo, Nebraska 68824; and THE STATE
<br />BANK OF CAIRO, a Nebraska Banking Corporation, hereinafter referred to as "Beneficiary," whose
<br />mailing address is Box 428, Cairo, Nebraska 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:
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<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."
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<br />a. Payment of indebtedness evidenced by Trustors' note of even date herewith in the principal sum of
<br />$1,723,000.00, 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;
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<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE:
<br />
<br />200604386
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />
<br />t. 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.
<br />5. In the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and receive
<br />all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall apply such
<br />compensation, at its option, either to a reduction ofthe indebtedness secured hereby, or to repair and restore the property so taken.
<br />
<br />The Northeast Quarter of Section 25, Township 12 North, Range 12 West of the 6th
<br />P.M., Hall County, Nebraska, less a tract therefrom described as beginning at the
<br />Northeast corner of said Northeast Quarter, thence south on the east line of said
<br />Northeast Quarter 327.60 feet; thence S89049'32" W a distance of 1,264.43 feet;
<br />Thence north a distance of 327.6 feet; thence N89049'32"E on the north line of
<br />Said Northeast Quarter a distance of 1,264.43 feet to the point of beginning; said
<br />Tract containing 9.5 acres more or less of which 0.5 acres is state road right-of-way
<br />And 0.9 acres is county road right-of-way.
<br />
<br />FOR THE PURPOSE OF SECURING:
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