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Deed of Trust Secu %� 10348 t Ying Guaranty THiS DEED OF TRUST, made this 11th_ day of _ __June_._____ 1987—, by and between _. —_Paul Lies inger and oemau Liu1_nRer ___ _W31__ _______._._whether one or more, hereinafter called the "Trustor ", Whose mailing address is _Box .�7LDon1�6an� NE ____ - -_ ___— NORWEgTgJVK Nebrask_a1Nationsl Association _ hereinafter called the "Trustee", whose mailing address is Bax 1048 Hastings, NE 68901 _ and NORWEST BANK Nebraska, National Association hereinafter called the "Beneficiary", whose mailing address is - __Agli_.1Q & Hastings, NE 68901 _ -- WITNESSETH: WHEREAS, _- Liesin $ er Farms, Inc. (hereinafter called the "Borrower ") _.__- - - -- has applied to Beneficiary for one or more loans, tefters of credit, or other financial accommodations and may hereafter from time to time apply to Beneficiary for additional loans, letters of credit and other financial accommodations; and WHEREAS, to induce Beneficiary to provide financial accommodations to Borrower, Trustor has guaranteed payment of any and all present and future debts, liabilities and oblisations of every type and description now or hereafter owed by Borrower to Beneficiary, up to an aggregate principal amount of S-3 00.000.00 — , at any one time outstanding, plus accrued interest thereon and related costs of enforcement and collection expenses, pursuant to a Guaranty (hereinafter called "Guaranty ") of even date herewith; and WHEREAS, Beneficiary has required, as a condition precedent to the extention of any financial accommodation to Borrower, that Trustor execute this Deed of Trust for the purpose of securing payment of the Guaranty. NOW THEREFORE, in consideration of the premises and for the purpose of securing (a) payment, when and as due and payable, of the obligations of Trustor under the Guaranty, (b) the payment of all other sums, with interest thereon, which may be advanced by Beneficiary or Trustee in accordance with or which may be secured by this Deed of Trust (the obligations under the Guaranty and all such other sums are hereinafter collectively referred to as the "Indebtedness "), and (r) the performance of all of the covenants, conditions and agreements herein contained, Trustor *irrevocably grants and transfers to Trustee, in trust, with POWER OF SALE, all of the following described real estate situated in _. County, Nebraska: The South Half (S}) of the South Half (S}) of Section Twenty (20),Township One (1) North, Range Sixteen (16), West of the 6th P.M., Franklin County, Nebraska. Lot Three (3) in gg]ock One (1) in Y s Subdivision of pa of Lot Eleven (11)) County gubdivision, in Section Five (5), Township Nine � ;I North, Range Nine ) West of the 6th P.M., Hall County, Nebraska. together with all buildings, fixhsas and improvements upon the above described property, whether now or hereafter existing, all rights -of- way, easements, rents, Issues, profits, income, tenements. hereditaments, privileges and appurtenances belonging, used or enjoyed in connection with the described premises. or any part thereof (subject, however, to the right, power and authority of Trustor to collect and apply such rents, issues, profits and income as they become due and payable, so long as no default exists hereunder) and all proceeds of conversion, voluntary or involuntary, of any of the foregoing Into cash or liquidated claims, including, without limitation, proceeds of Insurance and condemnation awards, all of which collectively is hereinafter referred to as the "Trust Property ". IT IS AGREED, without affe,tting the generality of any of the foregoing provisions, that all heating, cooing, air conditioning and plumbing appliances and equipment now or hereafter attached to or built in any budding or Improvement, now or hereafter erected upon the described premises, shall be deemed fixtures and a part of the realty, and are a portion of the Trust Property. TO HAVE AND TO HOLD the Trust Property upon and subject to the trusts and agreements hereinafter set forth: 1. Trustor agrees to pay promptly when due all Indebtedness arising under the Guaranty or otherwise owed to the Beneficiary. 2. Trustor, at its expense, will maintain and preserve the lien of this Deed of Trust as a first and paramount lien upon the Trust Property, will cause this Deed of Trust and each amendment or supplement thereto to be filed and recorded as a mortgage of the Trust Property in such manner and in such place, and will take such other action as in the opinion of Trustee may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may be from time to time amended or supplemented, 3. if title to any part of the Trust Property shall be taken in condemnation proceedings, by right of eminent domain or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to the Trustee who shall apply such amount to the payment of the Indebtedness or such other sums as may be hereinafter provided. Trustor will promptly, and with due diligence. repair, alter and restore the remaining par, of the Trust Property to its former condition substantially to the extent that the same may be feasible and so as to constitute a complete and usable unit. 4. Trustor, at its expense, will maintain with Insurers approved by Beneficiary Insurance with respect to the improvements and personal property constituting the Trust Property against loss by fire, lightning and other perils covered by standard extended coverage endorsement, in an amount equal to at least one hundred percent of the full replacement value thereof; and insurance against such other hazards and in such amount as Is customarily carried by owners and operators of similar properties and as Beneficiary may require for its protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the orotection by Insurance of the interest of the respective parties. All insurance policies maintained pursuant to this Deed of Trust shall name Trustor. Trustee and Beneficiary as insureds, as their respective interests may appear, and shall provide that there be no cancellation or modification without fifteen days prior written notification to Trustee and Beneficiary. In the event any policy hereunder is not renewed on or before fifteen days prior to its expiration date, Trustee or Beneficiary may procure such insurance, pay the premiums therefor. and such sums shall immediately become due and payable with interest at the rate of *----per annum until paid and shall be secured by this Deed of Trust All policies of insurance required by this Deed of Trust shall be delivered to and retained by Trustee. Failure of Trustor to furnish such insurance or renewals as are required hereunder or failure to pay any sums advanced hereunder shalt, at the option of Beneficiary, constitute a default. All unearned premiums are hereby assigned to Trustee as additional security and a sale and conveyance of the Trust Property by the Trustee shall operate to convey to the purchaser the Trustor 's interest in and to all policies of insurance upon the Trust Property *Franklin and Hall County Ne�raska * *Regional N MoneyNMarket Rate p us 1 3/47 IS 82r LJ 0