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LOAN NUMet7t Federal Land Bank of Omaha TRUST DEED 87— 101290 Fla 2M (6-115) Page t of THIS TRUST DEED, made this / 4�' day of t 1997 . by and between Bruce W Reeder a sing1g pgrso*+ -- , whether one or mora, hereinafter called " Trustor" whose mailing address is RR 1 Box 160 Shelton, NE 65876 and The Federal land Bank of Omaha, as "Trustee" and "Beneficiary." whose mailing address is 206 South IM Street, Omaha, Nebraska 68102. WITNESSETH: That Trustor, in consideration, of One Dollar (51.00) and other valuable consideration, receipt whereof is hereby acknowledged, grants, conveys, sells and warrants to Trustee, in trust, with power of sale, the following - described property; situated in Hall County, Nebraska: The N1/2 SWI/4; the SE1 /4 SWI /4; S1 /2 Ski /4 S>I /4, all in Section 20, Township 9 "forth, Range 12, West of the 6th p.M. The intention being to convey hereby an absolute title in fes simple, including all the rights of homestead and dower, together with all the improvem>mts, now or hereafter erected on the property and all easements, rights, appurtenances, rents, issues, profits, crops, royalty, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by tttis Trust Deed. All of the foregoing is referred to in this Trust Deed as the "Property." FOR THE PURPOSE OF SECURING performance of each agreemertt and covenant of Trustor herein contained and the payment of the principal sum of SIXTY FIFE TliOUSMM -- ----------------------__--- _�_�_— �--- Dollars($S5,000,00 ;. as evidenced by a promissory note bearing even date at the is of interest thereon which may hereafter be paid or advanced under the terms of this Trust Deed; both principal sum and interest thereon being payable according to the terms set forth in said pro nissory note, reference to which is hereby made, at the office of the Beneficiary in Omaha. Nebraska, or at such other place as the holder may designate in writing, the final payment of principal and interest, if rKA sooner paid, shaft be due and payable on the 1 day of 3anuary . 191-4 Trustor and Berta#iciary ccrrenant and agree as follows: t, warranty at Title. Trustor is lawfully seized of the Property; Tnistor has {food right and lawful authority to self and convey the Propatty; the Property is free and clear of all liens and encumbrances except liens now of record, and Trustor will warrant and defend the title to the Property unto the Trustas and its successors and assigns forever. against the ciaima of ail ponKKM Trustor, at its expense, will maintain acid preserve the lien of this Trust Deed as a lion upon the Property sub)ect only to encumbrances existing as of the date hereof. will cause this Trust Dead. and sacra amendment or supplement thereto, torte Mod ono recorded as a lien or. the Property in such manner and in such place, and will take such other action as in the opinion of Trusise may be required by arty present or future law in order to perfect maintain and protect the lien of thin Trust Dead. as the same may be from time to time amended or supplemented. 2. Pgassrrt of Priam"M and Interest Trustor shall punctually pay the principal of. and interest on, said promissory note including any advances thereto as provided herein on the dates and at the pleas and in the manner provided therein and unit a--cg' 4 —ew conditions mid R o!Sn.,. wInstrument Con .c.ion with Mu - transaction. 3, Praorvadott and Maintenance of Property. Trustor will not commit any waste upon the Property and will, at all times, maintain the same in good order and condition and will make, from time to time, all repairs, renewals, replacements, additions and improvements which are reasonably required to prevent waste, impairmem.. or deterioration of said Property. No building or improvement now or hereafter erected upon the Property snail be altered, removed or demolished without the prior written consent of Beneficiary. 4. 0saaaps 1A Proper". In cane of any darr.a4v to, or destruction of, the buildings. improvements or personal property constituting part of the Property, whe:ner such loss is covered by insurance or otherwise, Trustor, at its sole cost and vxperl", wit) promptly restore, repair, replace and rebuild the sane as nearly as practicable to its condition immediately P6 r to such damage or destruction or with such changes and alterations as Trustor may deem appropriate, provided such chanpea and alterations jo not matanatlp :msen tare value and utility of such buildings, improvements and personalty from that existing immediately prior to such damage or destruction. Trustor shaft be entitled to reimbursement from the Trustee to the extent of the net insurance proceeds received by Trustee, but only to the extent of the actual sum expended under this provision. Kit I