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200710573 Register of Deeds Office as Document No. 0200410737; thence running N 46047'24" W, a distance of Fifty-three and Thirty-nine Hundredths (53.39) feet, to a point on the original westerly high bank of the Wood River as Recorded in Deed Book 174, Page 399; thence running N 06035'43" E, along the original westerly high bank, a distance of One Hundred Fifty-five and Eighty-five Hundredths (155.85) feet; thence running N 03027'08" W, along the original westerly high bank, a distance of Two Hundred Ninety-six and Forty Hundredths (296.40) feet; thence running S 38042'27" W, a distance of Three Hundred Seventy-four and Fifty Hundredths (374.50) feet; thence running N 89042'08" W, a distance of One Thousand Seven Hundred Thirty-four and Ninety Hundredths (1734.90) feet, to the point of beginning. (EXCEPTING THEREFROM, that portion of a tract of land deeded to the City of Grand Island, Nebraska for drainage ditch right of way and Recorded in Deed Book 161, Page 128, consisting of 1,190 acres more or less), said tract containing 38.026 acres more or less, of which 0.723 acres more or less is presently occupied by public road right of way. Net 37.303 acres more or less. Along with the accretion rights to the land lying between that portion of the original westerly high bank of the Wood River as Recorded in Deed Book 174, page 399 and the thread of the stream of the Wood River. together with all the rents and properties therefrom and subject to easements and restrictions of record, if any. Borrower owes Lender $190,000, evidenced by Borrower's Note of even date, payable according to the terms thereof. This security instrument secures to Lender the debt evidenced by said Note, the payment of all other sums, with interest, advanced under the provisions hereafter to protect the security and the performance of Borrower covenants and agreements. Borrower covenants that Borrower is lawfully seised of such real estate and has the legal power and lawful authority to convey the same and warrant and will defend title to the real estate against the lawful claims of all persons. BORROWER AND LENDER AGREE AS FOLLOWS: 1. Borrower shall pay when due, the principal and interest as provided in said Note. 2. All payments received by Lender shall be first applied to advances which may have been made by Lender and then to interest due and last to principal due. 3. Borrower shall pay all general real estate taxes and special assessments against the property before the same become delinquent. 4. If Lender determines that any part of the property is subject to a lien, which is or may attain priority over this security instrument, Lender may give Borrower a notice identifying the lien and Borrower shall satisfy the lien within 10 days. 5. Borrower shall keep the improvements on said premises insured against loss by fire and hazards included within the term "extended coverage" for their full insurable value and policies for the same shall include a standard mortgage clause showing Lender herein. In event of loss, Lender may make proof of loss if not promptly made by Borrower. Insurance proceeds shall be applied to restoration or repair of the property damaged, unless both parties otherwise agree, except if restoration or repair is not economically feasible, or Lender's security is not lessened; otherwise said proceeds shall be paid on the debt herein, whether or not then due.