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<br />DEED OF TRUST
<br />
<br />.88- 106274
<br />
<br />THIS DEED OF TRUST, madB this ~ day 01 November
<br />NEBRASKA MACHINERY COMfANY, a Nebraska Corporation
<br />FII1IllBr Bank, Nalional Assoclalion, OmBha. NBbraska
<br />Rl1IllBr Bank, National ABBoclBtion, Omaha, NBbrBska
<br />
<br />, 19 ..!!.!L- , bBlwBBn
<br />as Trustor,
<br />as TrustBB,
<br />as BaneflclBry:
<br />
<br />WITNESSETH:
<br />
<br />That Truslor.lrrBVocably grants, tranS'BI1I Bnd assIgns to Trustee In trus~ with power 01 sBle, thB following dBSCribed
<br />prope~ A TRACT OF LAND COMPRISING A PART OF THE WEST HALF OF THE SOUTHWEST QUARTER (W 1/2
<br />SW 1/4) OF SECTION 5, TOWNSHIP 9 NORTH, RANGE 9 WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA,
<br />AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON THE NORTH LINE OF SAID WEST
<br />HALF OF THE SOUTHWEST QUARTER, SAID POINT BEING 150.0 FEET EAST OF THE NORTHWEST CORNER OF
<br />SAID WEST HALF OF SOUTHWEST QUARTER, SAID POINT ALSO BEING ON THE EAST RIGHT OF WAY LINE OF
<br />U.S. HIGHWAY #281; THENCE RUNNING SOUTHERLY ALONG SAID RIGHT OF WAY LINE A DISTANCE OF 596.00
<br />FEET;' THENCE RUNNING EASTERLY ALONG A LINE PARALLEL TO THE NORTH LINE OF SAID WEST HALF OF
<br />THE SOUTHWEST QUARTER A DISTANCE OF 677.10 FEET TO A POINT ON THE WEST LINE OF BISON MEADOWS,
<br />A SUBDIVISION LOCATED IN A PART OF THE SAID WEST HALF OF THE SOUTHWEST QUARTER; THENCE RUNNING
<br />NORTHEASTERLY ALONG THE WEST LINE OF SAID BISON MEADOWS SUBDIVISION A DISTANCE OF 606.49 FEET TO
<br />THE NORTH LINE OF SAID WEST HALF OF THE SOUTHWEST QUARTER; THENCE RUNNING WEST ALONG THE NORTH
<br />LINE OF SAID WEST HALF OF THE SOUTHWEST QUARTER A DISTANCE OF 785.92 FEET TO THE POINT OF
<br />BEGINNING.
<br />
<br />togethBr with all intersst which Trustor now has or may hereafter acquire In and to said property and In and to: (a) BII
<br />easemBnts and rights 0' way apPurlenBntthBreto; (b) alltenemBnts, heredltements, buildings, structurBs, ImprovBmBnm,
<br />flxtul'Bll, equipmBn~ furnishings and appurlBnances now or hereBfter plBCed thBreon; (c) all leasehold estate, right tiUB,
<br />and intBrest ot Trustor in and to alii_ or subleases thereo' or any portion thereo' now or hBrealler Bxlsting or entered
<br />into, and all right, tide. and Interest o'TrustorthBrBundBr,lncludlng, wllhoutlimllallon, BII cash or security deposits, advance
<br />rantals, and dsposlts or payments of simllBr nBture, and (d) all minerai, oil, gas rights and profits, water, water rights, and
<br />wBter stock. Trustor ag.-to execute and dBlivBr, from time to lime, s~ch furthBr instruments as may be requasted by
<br />Banellclary in IDrm and substance BBlisfaClDry to Beneficiary to confirm the IIBn 01 this Dead Df Trust Dn any of the
<br />aforsmentioned property. The proPBrty so convByed to TrustBB hereunder Is herelnefter refarred to es "such property".
<br />
<br />The TrustorabsolutBlyand irrevocably grants, transfers end assigns to BeneflclarythB rents, income, Issues, and profits
<br />of BII property covered by this Dead of Trusl
<br />
<br />FOR THE PURPOSE OF SECURING:
<br />1." Payment of the principal sum of Four hundred fifty thousand and no/1oo ($450,000.00)---------
<br />
<br />evldBnced by the cerlaln promlBBory notB dBled of even date hBrewllh (herelnaftBr refBrrBd 10 as the "Promissory NOtB'1
<br />executed by Nebraska Mach inet'v ComDanv. a Nebraska Corporation
<br />
<br />In said amount and payabie to the order of Beneficiary maturing on December 1, 1993 ,
<br />together with Interest thereon, late chargBs, and prepaym!lnt bonuses according tD the terms Df thB Promissory Note
<br />and all ranowals, extanslons, Bnd modifications thereof.
<br />
<br />2. Performance, discharge of and compliancB with BVBry obligation, covenant and agrBement of Trustor incorporated by
<br />refBrence or contained hersln or In any other security agrsemBnt or dead of trust at any limB glvBn to secure any
<br />indebtedness hersby secured, Dr any parlthereof.
<br />
<br />3. PBymBnt of all fBBS and ChBrges of Beneficiary or Trustee, whether or not set forth hBrBin.
<br />
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS:
<br />
<br />TITLE: That it Is lawfully seized and possessed of B good and indBfeaslt.le liUB and Blllate to BII of such property in 'BB
<br />slmplefrB8 from any prior lien or BncumbrancB, has good right Bnd lawful authority'to convey the samB, and will forever
<br />warrant and defend the titie thereto against the claims and demands of all parsons whosoever; that it will. at its expenSB.
<br />mBintain and preserve the lien oJI this DBBd of Trusl as e first and paramount lien upon such property.
<br />
<br />MAINTENANCE: To ksep such property in good condition and rspair;to completB or restors promptiy and in good and
<br />workmanllkB manner any building which may be constructed, damaged Dr destroyed thereon Bnd to pay, when due, all
<br />claims lor labor performed and materials furnished therefore and for any Bllerations IhBrBot, to comply with thB provisions
<br />of all insurance policies covering said premises, to comply with all laws, ordinBnces, regulalions, covenBnts, conditions
<br />Bnd restrictions affecting such proparly, notto rsmovB, demolish or materiBlly ailBr any building, or the character or use
<br />thereof al any limB thBreon; not to drill Dr extract nor to permit thB drilling for or extraction of oil, gas or other hydrocarbon
<br />substances. water orany mineral of Bny kind unless tha wrlllBn consent of Benellclary is had and obtained; notto commltor
<br />permltany waalethsreof Dr anYBctupon such property In violBtion oflaw; 10 do all othBr BclS In a timely and proper mBnnBr
<br />which from tha chareCler or UBB of such property may be reasonBbly nBcessary to protect and prBserve BBld security, Ihe
<br />specllic Bnumerations hBreln not excluding the ganBral.
<br />
<br />CONSTRUCTION OF IMPROVEMENTS:To complelB in good Bnd workmanlike manner any building or Improvement or
<br />r&plIir l1IIa1Ing !henIIDwhlch may be begun on such proparty or contemplated by the IOBn secured hereby, to pay when dua
<br />all c;OlIlI and liBbiIitlas incurred lhereforB,and nollo permit Bny mBchanlc's IiBn BgBlnst such proparty. Trustor also Bgrees,
<br />anylhlng in this Deed of Trust to thB contrary notwithstanding; (B) to prompUy commence work Bnd to COmplBtB the
<br />IlfOII(IlMId ImprOVBlOBlllB promptly, (b) to complBlB 88mB In BccordancB with plans Bnd specifications as approved by
<br />8enallCiBry, (c lto complywlth all of lhB t8l1llll of any building IOBn BgrBBment belwBBn Trustor Bnd Beneficiary, the terms 01
<br />which are Incorporated herein by retBrBncB to thB samB extent BB il 'ully set forth herein and made a part 01 this Deed or
<br />Trust (d) to allow Benallclsry to inspect such proparty Bt BUtimes during construction, Bnd Ie) to replace any work or
<br />malerisls unsatistBclory to 8enaIIclsry. within fifteen ( 15) days slier wrinBn nolice from Beneficiary 01 such fact, which
<br />nolice....y be given 10 Tru.tor by regiBlered or certiflBd mBiI. 58nl10 his last known address. or by personai service 01 the
<br />SlIme,
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