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<br />TRUST DEED - THIRD PARTY
<br />$4 ---Ci G t? 723
<br />THIS TRUST DEED is made this _~ day of February, 1984, among thb
<br />Trustor, ARLENE METTENBRINK, a widow (herein Trustor"), NORWEST BANK- OMANA SOITfH
<br />N.A. (herein "Trustee"), a national banking association of 24th and "L" Sfseets,
<br />Omaha, Nebraska 68107 and the Beneficiary, NORWEST BANK SOUTH, N.A., a national
<br />banking association of 24th & "L" Streets, Omaha, Nebraska 68107 (herein "Lender").
<br />WHEREAS, Trustor, being interested in the financial success of METTENBRINR
<br />FARMS, INC., a Nebraska corporation of Grand Tsland, Nebraska and 4-M AGRICULTURAL
<br />ASSOCIATES, INC., a Nebraska corporation of Grand Island, Nebraska (herein, ualeas
<br />otherwise individually referred to, "Borrower"), has executed aad delivered to Lender
<br />their unconditional personal guaranties of payment of the indebtedness of Borrower to
<br />Leader and have otherwise agreed to convey the real estate described below to Lender,
<br />in trust, as security for repayment of the indebtedness of Borrower to Lender; aad
<br />WHEREAS, Borrower has applied to Lender for one or more loans, letters of
<br />credit or other financial accommodations and may hereafter from time to time apply to
<br />Lender for additional loans, letters of credit or other financial accommodations is
<br />any amount; and
<br />WHEREAS, Borrower is, in addition to such other indebtedness from Borrower
<br />to Lender as may exist, indebted to Lender as follows:
<br />(i} February i3, 1984 Promissory Note of Mettenbrink Farms, Inc. in
<br />the original principal sum of Four Hundred Twenty-Five Thousand
<br />Dollars ($425,000.00}, payable on demand, bearing interest at
<br />two (2x) percent over Lender's agricultural prime rate and
<br />interest payable quarterly;
<br />(ii) February ~, 1984 Promissory Note of Mettenbrink Farms, Inc. in
<br />the original principal sum of Three Hundred Sixty-Five Thousand
<br />Dollars ($3b5,000.00), payable on demand, bearing interest at
<br />two (2$) percent over Lender's agricultural prime rate and
<br />interest payable quarterly;
<br />fill} February ~~, 1484 Promissory Note of Mettenbrink Farms, Inc. in
<br />the original principal sum of One Hundred Fifteen Thousand
<br />Dollars f$115,000.00), payable on July 31, 1984, in full,
<br />bearing interest at two (2~) percent over Lender's agricultural
<br />prime; and
<br />(iv} February ~~, 1984 Promissory Note of 4-M Agricultural
<br />Associates, Inc. in the original principal sum of Three Hundred
<br />Thousand Dollars ($300,000.00), payable on demand, bearing
<br />interest at two (2L'} gercent over leader's agricultural prime
<br />rate and interest payable quarterly;
<br />all of which indebtedness is hereinafter referred to as the "Note"; and
<br />WHEREAS, Lender has required as a condition precedent to the continuation
<br />and/or extension of any finaucial accommodations to Borrower that Trustor execute
<br />this Trust Deed for the purpose of securing payment of all indebtedness owing by Bor-
<br />rower and such further indebtedness of Borrower as may hereafter, from time to time,
<br />be owing by Borrower to Lender:
<br />NOW, THEREFORE, in the context of the foregoing preamble paragraphs, which
<br />paragraphs are by this reference specifically made a contractual part of this Trus[
<br />Deed, and for the purpose of securing, in such order of priority as Lender may elect:
<br />(a) the repayment of the indebtedness evidenced by the Note, and
<br />any and all extensions, modifications, substitutions aad renew-
<br />als thereof, whether or not the instruments evidencing such
<br />indebtedness make reference to this Trust Deed;
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