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<br />DEED OF TRUST
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<br />200810369
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<br />THIS DEED OF TRUST is made this ~ day of December, 2008, by and among,
<br />JIM C. RATHMAN and KATHY L. RATHMAN, husband and wife, herein referred to as
<br />"Trustor", whose mailing address is 5362 South U.S. Hwy 281, Grand Island, Nebraska, 68803;
<br />BRUCE I. SMITH, hereinafter referred to as "Trustee", whose mailing address is P.O. Box 790,
<br />Grand Island, Nebraska 68802, and LA WNEY L. RATHMAN and SHARLEEN M.
<br />RATHMAN, husband and wife as joint tenants with rights of survivorship, hereinafter referred
<br />to as "Beneficiary", whose mailing address is 4178 Springview Drive, Grand Island, Nebraska,
<br />68803.
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<br />For valuable consideration, Trustor irrevocably grants, transfers, conveys and assigns to
<br />Trustee, in trust, with power of sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the Trustor's interest in the following-
<br />described property located in the County of Hall, Nebraska, to-wit:
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<br />The Southeast Quarter of the Northwest Quarter (SEv..NWv..) and the Northeast
<br />Quarter of the Southwest Quarter (NEv..SWv..) all in Section Twelve (12),
<br />Township Ten (10) North, Range Ten (10) West of the 6th P.M., Hall County,
<br />Nebraska,
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<br />together with all improvements, fixtures and appurtenances located thereon or in any way
<br />pertaining thereto, and the rents, issues, profits, reversions and the remainders thereof, including
<br />all such personal property that is attached to the improvements so as to constitute a fixture, all of
<br />which, including replacements and additions thereto, are hereby declared to be a part of the real
<br />estate conveyed in trust hereby, it being agreed that all of the foregoing shall be hereinafter
<br />referred to as the "Property".
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<br />FOR THE PURPOSE OF SECURING:
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<br />(a) the payment of indebtedness evidenced by Trustor's note of even date herewith in
<br />the principal sum of TWO HUNDRED FIFTY THOUSAND AND NO/l 00 DOLLARS
<br />($250,000.00), together with interest at the rate provided therein, or the principal and interest on
<br />any future advance not to exceed the total principal sum initially secured hereby as evidenced by
<br />promissory notes stating they are secured hereby, and any and all renewals, modifications and
<br />extensions of such notes, both principal and interest on the notes being payable in accordance
<br />with the terms set forth therein, which by this reference is hereby made a part hereof;
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<br />(b) the performance of each agreement and covenant of Trustor herein contained; and
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<br />(c) the payment of any sum or sums of money which may be hereafter paid or
<br />advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at
<br />the rate provided in the note.
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<br />To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as
<br />follows:
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<br />1. Payment of Indebtedness. To pay when due, the principal of, and the interest on,
<br />the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan
<br />instruments.
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<br />2. Title. Trustor is the owner of the Property and has the right and authority to
<br />convey the Property and warrants that the lien created hereby is a first and prior lien on the
<br />Property and the execution and delivery of the Deed of Trust does not violate any contract or
<br />other obligation to which Trustor is subject.
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<br />3. Taxes and Assessments. To pay, when due, all taxes, special assessments and all
<br />other charges against the Property, before the same become delinquent, and, in the event
<br />Beneficiary shall so require, to add to the payments required under the note secured hereby, such
<br />amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other
<br />charges as they become due.
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