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<br />DEED OF TRUST
<br />
<br />c2.S, So
<br />
<br />This DEED OF TRUST is made as of the 25TH day of October, 2006 by and among the Trustor, Kathleen
<br />Seitz and Anthony J. Seitz, husband and wife, whose mailing address for purposes of this Deed of Trust is 4155 East
<br />Highway 30 Grand Island, Nebraska 68801 (herein, "Trustor", whether one or more), the Trustee, AREND R.
<br />BAACK, Attorney at Law, a member of the Nebraska State Bar Association, whose mailing address is P. O.
<br />Box 790, Grand Island, NE 68802-0790 (herein "Trustee"), and the Beneficiary, HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NE
<br />68802-1009 (herein "Lender").
<br />
<br />FOR VALUABLE CONSlDERA TION, including Lender's extension of credit identified herein to
<br />Sundance Feed & Seed Company (herein "Borrower", whether one or more), and the trust herein created, the receipt
<br />of which is hereby acknowledged, Trustor hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and
<br />conditions hereinafter set forth, legally described as follows:
<br />
<br />ALL THAT PART OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER
<br />(NEl/4NWI/4) OF SECTION TWELVE (12), TOWNSHIP ELEVEN (11) NORTH, RANGE
<br />NINE (9) WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA, LYING SOUTH OF THE
<br />SOUTHERLY RIGHT OF WAY OF U.S. HIGHWAY NO. 30;
<br />
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a Universal
<br />Note dated October 25,2006, having a maturity date of February 25, 2012, in the original principal amount of Three
<br />Hundred Fifty Thousand and 00/100 Dollars ($350,000.00), and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and re-advances to Borrower (or any of them if more than one)
<br />hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of
<br />other sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and
<br />agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or
<br />any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note,
<br />guaranty, overdrafl or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note
<br />or otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br />assignments ofleases and rents, shall be referred to herein as the "Loan Instruments".
<br />
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />
<br />I. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />
<br />3. Taxes. Assessments. To pay before delinquent all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the tcrm
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to
<br />Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
<br />
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