|
r
<br />85---i' 001699
<br />NEBRASKA
<br />DEED OF TRUST,
<br />SECURITY AGREEMENT,
<br />AND FINANCING STATEMENT
<br />THIS DEED OF TRUST, SECURITY AGREEMENT AND FINANCING
<br />STATEMENT (the "Deed of Trust "), dated as of March 29, 1985, is made
<br />by Garst Research Farms, Inc., a Nebraska corporation ( "Grantor ")
<br />whose address is Coon Rapids, Iowa 50058, to James R. McClymont,
<br />whose address is P. 0. Box 1669, North Platte, Nebraska 69103, as
<br />Trustee ( "Trustee ") for the benefit of American AgCredit Corporation,
<br />a Delaware corporation ( "American "), whose address is 3033 South
<br />Parker Road, Suite 720, Aurora, Colorado 80014.
<br />For valuable consideration, Grantor hereby sells and con-
<br />veys to Trustee, in trust, with power of sale, the following -
<br />described property situated in the County of Hall, State of Nebraska
<br />(the "State "):
<br />See Exhibit A attached to and by this reference made a part
<br />of this Deed of Trust
<br />Together with: (a) all improvements now or at any time hereafter
<br />thereon, and privileges, appurtenances, fixtures, rents, issues, and
<br />profits relating thereto; (b) water, ditch, and reservoir rights or
<br />stock, however evidenced, appertaining to or used in connection with
<br />the property; (c) any interest now owned or hereafter acquired by
<br />Grantor in any road, street, or avenue (opened or proposed), in front
<br />of or adjoining the property or in and to any sidewalks, alleys, and
<br />strips and gores of land adjacent to or used in connection with the
<br />property; and (d) all right, title, and interest of Grantor in and to
<br />all machinery, apparatus, equipment, irrigation equipment, pumps,
<br />sprinklers, pivot systems, fittings, crops, and fixtures of every
<br />kind and nature whatsoever, all furniture, furnishings, and other
<br />personal property now or at any time hereafter attached to or used in
<br />any way in connection with the use, operation, and occupation of any
<br />buildings or improvements located on the property. (The above -
<br />described property, appurtenances, and privileges are subsequently
<br />referred to as the "Property ".) Grantor warrants that all real prop-
<br />erty taxes and assessments which are due and payable have been paid
<br />in full and warrants the title to the Property except for those items
<br />listed as exceptions on Exhibit B attached to and by this reference
<br />made a part of this Deed of Trust. This grant is for the purpose of
<br />securing the payment and performance of the Loan Agreement (the "Loan
<br />Agreement ") dated March 29, 1985 entered into between Garst Seed
<br />Company, an Iowa corporation ( "Borrower "), and American and
<br />guaranteed by Grantor and the related promissory note (the "Note ")
<br />4
<br />W1
<br />7
<br />
|