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<br />07729 d5l 005120
<br />(a) The payment of Trustor's just indebtedness to Beneficiary in the
<br />principal sum of Four Hundred Fifty Thousand and No /100 Dollars
<br />($450,000.00) for money borrowed, with interest thereon, all as evidenced
<br />by and in strict accordance with the terms of that certain promissory note,
<br />hereinafter called the "Note ", bearing even date herewith made payable to
<br />the order of Beneficiary, executed by Urwiller Farms, Ltd., a Nebraska
<br />Limited Partnership, and Urwiller Farms, a Nebraska Partnership, and
<br />providing for the payment of said indebtedness in installments, the last of
<br />which is due and payable July 1, 1995, subject to acceleration of maturity
<br />on default in the payment of any installment of principal or interest or in
<br />the performance of any covenant, agreement or warranty contained in this
<br />Deed of Trust;
<br />(b) The performance of each agreement, covenant and warranty of
<br />Trustor herein contained or set forth in the Note or any agreement or
<br />instrument executed by Trustor in connection with the indebtedness hereby
<br />secured; and
<br />(c) The payment of any sum or sums of money with interest thereon
<br />which may be hereafter paid or advanced under the terms of this Deed of
<br />Trust.
<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST, Trustor
<br />does for himself and for Trustor's heirs, representatives, vendees, succes-
<br />sors and assigns, the owners of said Property, hereby expressly covenant,
<br />agree and warrant to and with the Trustee and Beneficiary, and their
<br />successors, vendees and assigns:
<br />FIRST: That the Trustor hereby covenants and agrees, to the extent
<br />permitted by law, as follows: (a) to pay promptly when due the principal
<br />and interest and other sums of money provided for in the Note and in this
<br />Deed of Trust; (b) to promptly pay before delinquency all taxes, assess-
<br />ments and other charges imposed by law upon the Property, the Trustor's
<br />interest therein, or upon this Deed of Trust. or the Note; provided, how-
<br />ever, that in the event of any change of thc> law providing for the taxation
<br />of deeds of trust or debts thereby secured so as to affect this Deed of
<br />Trust, the entire indebtedness secured hereby shall at the option of the
<br />Beneficiary become due and payable; (c) to keep the above- described
<br />Property and the improvements thereon in good condition and repair and not
<br />to commit or suffer waste thereof, and except as authorized in any schedule
<br />annexed hereto and forming a part hereof, neither to remove nor permit the
<br />removal of any timber, buildings, oil, gas, minerals, stone, rock, clay,
<br />fertilizer., gravel or top soil without the prior written consent of Benefi-
<br />ciary; (d) to maintain and deliver to Beneficiary policies of insurance
<br />against such hazards on the buildings and improvements now or hereafter
<br />located on or constituting a part of the Property as the Beneficiary shall
<br />require, in such companies and amounts and with such loss payable clauses
<br />as shall be satisfactory to the Beneficiary; that in the eve7lt of loss,
<br />Beneficiary is expressly authorized to settle or compromise claims under
<br />said policies and the proceeds thereof shall be paid to the Beneficiary who
<br />may apply the same or any part thereof on the indebtedness secured hereby
<br />or toward the reconstruction or repair of said buildings and improvements
<br />or release same to the 'Trustor; (e) to pay any lien, claim or charge
<br />against the Property which might take precedence over the lien hereof; (f)
<br />to pay on demand all Legal expenses, title searches, appraisal or attor-
<br />neys' .fees reasor7ably incurred or paid by Beneficiary to collect the Note
<br />or foreclose or protect the lien of this Deed of Trust; (q) that in the
<br />ovent Trustor shall fail to comply with the provisions of (a) through (f)
<br />above, the Beneficiary may expend such funds and take such action a:; is
<br />necessary to remedy such failure and all sum:, paid by the Beneficiary
<br />pursuant hereto with interest at the r.atc, herr,i.nafter provider. shall
<br />constitute a lien upon the Property, shall be secured by this Dc,(cd of
<br />Trus*,, and shall be i,trnediataly clue and n:p vahle to th,,
<br />not to sel.1 the i rr petty nr -:.tny portion thereof; or, i f thr' Irusto? i,: r7
<br />r-orporatre,n, not mare, than -0 -a, ref, itr: ehtil l he :;"1(1,
<br />fraded, or, di ;hosed cst t.c; 1- _,::scinr uth:�r t han thf,
<br />atock prior try the ttuu t. >�,, in�teIt 1r e�,�utr�ri
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<br />.� in tlt rir:,i, .. ., _ ,r t� .r± I� 1 �!t I ., I +• i i ,�1 �.;t '�', i
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