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<br />200803068
<br />COMMERCIAL REAL ESTATE DEED OF TRUST
<br />
<br />This COMMERCIAL REAL ESTATE DEED OF TRUST ("Security Instrument") is made on April 4, 2008 by
<br />the grantor(s) Stephen H. Happold, Husband, whose address is 1570 East Giltner Road, Doniphan, Nebraska
<br />68832 ; and Judith A. Happold, Wife, whose address is 1570 East Giltner Road, Doniphan, Nebraska 68832
<br />("Grantor"). The trustee is Union Bank and Trust Company whose address is 3646 So 48th St, PO Box 82535,
<br />Lincoln, Nebraska 68501-2535 ("Trustee"). The beneficiary is Union Bank & Trust Company whose address is
<br />3643 South 48th Street, PO Box 82535, Lincoln, Nebraska 68501-2535 ("Lender"), which is organized and
<br />existing under the laws of the state of Nebraska. Grantor in consideration of loans extended by Lender up to a
<br />maximum principal amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00) ("Maximum Principal
<br />Indebtedness"), and for other valuable consideration, the receipt of which is acknowledged, irrevocably grants,
<br />conveys and assigns to Trustee, in trust, with power of sale, the land and property described below:
<br />
<br />Legal Description: Tract 1: The Southeast Quarter (SEl/4) of Section Thirteen (13), Township Nine (9)
<br />North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska.
<br />
<br />Tract 2: The West Half of the Southwest Quarter (Wl/2SWl/4) of Section Fifteen (15), Township Nine (9)
<br />North, Range Ten (10) West of the 6th P.M., Hall County, Nebraska.
<br />Property Size: 233 acres.
<br />
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in
<br />connection with the above-described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />
<br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents are hereby made a part of this Security Instrument by reference thereto, with the same
<br />force and effect as if fully set forth herein.
<br />
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or sl!bseque!!t d:Jte hereto, including futu.re advances and ev:;,; ctr.er
<br />indebtedness of any and every kind now or hereafter owing from Grantor to Lender, howsoever created or arising,
<br />whether primary, secondary or contingent, together with any interest or charges provided in or arising out of such
<br />indebtedness, as well as the agreements and covenants of this Security Instrument and all Related Documents
<br />(hereinafter all referred to as the "Indebtedness"). INCREASED MAXIMUM PRINCIPAL
<br />INDEBTEDNESS: Grantor hereby acknowledges that the principal amount shown above will
<br />automatically be increased by any future advances or other indebtedness of the Grantor to the Lender.
<br />Notwithstanding the foregoing, the parties agree that_ fhe total amount which is secured by this Security
<br />Instrument shall not exceed $800,000.00 2..JI.... ~ rl.!i- ~ (initials)
<br />
<br />FUTURE ADVANCES. To the extent permitted by law, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />may be no balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />
<br />Performance of Obligations. Grantor promises to perform all tenus, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the tenus contained therein.
<br />
<br />Defense and Title to Property. At the time of execution and delivery of this instrument, Grantor is lawfully
<br />seised of the estate herebyconvcyed 'MId 11M lhecJKifttsi\ II l'l~i" ..I.<'lo..teaeel~veyand assign the
<br />Property. Grantor covenants that the Property is unencumbered and free of all liens, except for encumbrances
<br />of record acceptable to Lender. Further, Grantor covenants that Grantor will warrant and defend generally
<br />the title to the Property against any and all claims and demands whatsoever, subject to the easements,
<br />restrictions, or other encumbrances of record acceptable to Lender, as may be listed in the schedule of
<br />exceptions to coverage in any abstract of title or title insurance policy insuring Lender's interest in the
<br />Property.
<br />
<br />Condition of Property. Grantor promises at all times to preserve and to maintain the Property and every
<br />part thereof in good repair, working order, and condition and will from time to time, make all needful and
<br />proper repairs so that the value of the Property shall not in any way be impaired.
<br />
<br />co 2004,2007 Copyright Compliance Systems, Inc. 68E7, I A55 - 2008.02.240
<br />COlllIl1ercial Real Estate Security Instrument - DlA007
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