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200806035 2175 feet to the Center of said Section 7; thence East along the South line of said NE1/4 on a bearing of S 89043'02" E a distance of 1325.31 feet to the South 1/16 Corner of the NE1/4; thence North on a Bearing of N 0018'33" E a distance of 2654.65 feet to the North 1/16 Corner of said NE1/4; thence West along the North line of said Section 7 on a Bearing of N 89053' W a distance of 152.2 feet, to a point on the South R.O.W. line of the Farwell South Lateral; thence Southwest on a bearing of S 58001'58" W a distance of 365.93 feet; thence Southwest on a bearing of S 75026'12" W a distance of 906.6 feet to the POINT OF BEGINNING. Parcel C: (Sherman County) SW1/4 of Section 1, Township 13 North, Range 13 West of the 6th P.M., Sherman County, Nebraska together with all Trustor's right, title, and interest in the property, now or hereafter acquired, including: all buildings, fixtures, timber, timber to be cut, crops, and improvements now on or hereafter placed upon the property; all appurtenances, water, irrigation, and drainage rights; all rents, issues, uses, income, profits, and rights to possession; all oil, gas, gravel, rock, or other minerals of whatever nature, including geothermal resources; all personal property that may integrally belong to or hereafter become an integral part of the real estate whether attached or detached, including any appurtenances and accoutrements of any structure or residence secured hereby; easements and other rights and interests now or at any time hereafter belonging to or in any way pertaining to the property, whether or not specifically described herein; all above and below ground irrigation equipment and accessories; and all leases, permits, licenses, or privileges, appurtenant or nonappurtenant to the property, now or hereafter issued, extended or renewed by Trustor(s), any State, the United States, or any department, bureau, instrumentality, or agency thereof. The foregoing is collectively referred to in this document as the "property. " It is understood and agreed between Trustor(s) and Beneficiary that this Trust Deed is given to secure the repayments in full of the following described obligations, regardless of whether Mortgagor(s) is(are) liable thereon, and all future and additional loans or advances, protective or otherwise, which may be made by Beneficiary, at its option, at the request of, and to or for the account of Trustor(s), the parties liable under the note(s) or credit agreement(s), or any of them, for any purpose, plus interest thereon, all payable according to the terms of the note(s), credit agreement(s), or other instrument(s) modifying the same. Date of Note's) or Credit Aqreement(s) 07/10/2008 04/07/2008 Principal Amount $66,000.00 600,000.00 Provided, however, that the total principal indebtedness outstanding and secured hereby at anyone - -ume'w-m --",10lexteeCl-lt\e- "Somot"StI\H U N DRED -StXTY-SIXTt=fOOSAND ,1$666: o-OO-:-OO}; exclusiveor-------- ---- --- interest and protective advances authorized herein or in the loan agreement(s); provided further, that THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED. This Trust Deed will be due March 1. 2028. Trustor(s) hereby warrants that Trustor(s) holds fee simple title to the above described property, that Trustor(s) has good and lawful authority to deed and encumber the same, that the property is free and clear of all liens and encumbrances, except encumbrances of record, and that Trustor(s) will warrant and defend the property, at Trustor(s) expense, against all claimants whomsoever. Trustor(s) also hereby waives and relinquishes all rights of dower, homestead, distributive share, and exemption in and to the above described property. This document is executed in 3 counterparts to facilitate recording in multiple counties but shall be deemed to be one document. Trustor(s) and each of them further covenants and agrees with Beneficiary as follows: 1. To pay all liens, judgments, or other assessments against the property, and to pay when due all assessments, taxes, rents, fees, or charges upon the property or under any lease, permit, license, or privilege assigned to Beneficiary as additional security to this Trust Deed, including those in or on public domain. 2. To insure and keep insured buildings and other improvements including fixtures and attachments now on or hereafter placed on the property to the satisfaction of Beneficiary. Such insurance will be approved by and deposited with Beneficiary, and endorsed with loss payable clause to Beneficiary. Any sums so received by Beneficiary may be used to pay for reconstruction of the destroyed improvements or if not so applied may be applied, at the option of Beneficiary, in payment of any indebtedness matured or unmatured secured by this Trust Deed. Such insurance will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the collateral, or the replacement cost of the property, and will at a minimum, cover losses caused by fire, lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail. Trustor(s) will obtain and keep flood insurance in force to cover losses by flood as required by Beneficiary and by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same. Trustor(s) further agree that Beneficiary is not and will not be liable for any failure by Trustor(s) or by any insurer, for whatever reason, to obtain and keep this insurance in force. 3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on the property occupied and in good repair, maintenance, and condition and to neither commit nor permit App #: 370667; elF #: 105448; Note #: 203 FORM 5011, Trust Deed and Assignment of Rents 220LS Legal Doc. Date: July 10, 2008 Page 2