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200710226 By execution of this instrument, Borrower acknowledges receipt of all of the proceeds of the loan or loans evidenced by the above note. This instrument secures to the Government: (1) payment of the note and all extensions, renewals, and modifications thereof; (2) recapture ofany amount due under any Shared Appreciation Agreement entered into pursuant to 7 U.S.C. S 2001; (3) payment of all advances and expenditures, with interest, made by the Government; and (4) the obligations and covenants of Borrower set forth in this instrument, the note, and any other loan agreements. In consideration of any loan made by the Government under the Consolidated Farm and Rural Development Act, 7 U.S.C. S 1921 ~~. as evidenced by the note, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property situated in the State of Nebraska, County or Counties of Hall The Southeast Quarter (SE1/4) of Section Twenty One (21), in Township Nine (9) North, Range Twelve (12) West of the 6th P.M., Hall County, Nebraska Fxceptinq a certain tract more particularly described in Book 9, Paae 659 together with all rights (including the rights to mining products, gravel, oil, gas, coal or other minerals), interests, easements, fixtures, hereditaments, appurtenances, and improvements now or later attached thereto, the rents, issues and profits thereof, revenues and income therefrom, all water, water rights, and water stock pertaining thereto, and all payments at any time owing to Borrower by virtue of any sale, lease, transfer, or condemnation of any part thereof or interest therein (collectively called "the property"). This instrument constitutes a security agreement and financing statement under the Uniform Commercial Code and creates a security interest in all items which may be deemed to be personal property, including but not limited to proceeds and accessions, that are now or hereafter included in, affixed, or attached to "the property." Borrower COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the property and that the property is unencumbered, except for encumbrances of record. Borrower warrants specifically and will defend the title to the property against all claims and demands, subject to any encumbrances of record. This instrument combines uniform covenants for national use and non-uniform co vents with limited variations by jurisdiction to constitute a uniform trust deed covering real property. UNIFORM COVENANTS. Borrower COVENANTS AND AGREES as follows: 1. Payment. Borrower shall pay promptly when due any indebtedness to the Government secured by this instrument. 2. Fees. Borrower shall pay to the Government such fees and other charges that may now or later be required by Government regulations. 3. Application of payments. Unless applicable law or Government's regulations provide otherwise all payments received by the Government shall be applied in the following order of priority: (a) to advances made under this instrument; (b) to accrued interest due under the note; (c) to principal due under the note; (d) to late charges and other fees and charges. Ini~jal ~ date \) -5-01 FSA 1927-1 NE (01-28-05) Page 2 of7