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<br />200903244
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<br />secured hereby, and all above and below ground irrigation equipment and accessories, and all leases, permits,
<br />licenses or privileges, appurtenant or nonappurtenant to said premises, now or hereafter issued, extended or
<br />renewed by trustor, any State, the United States or any department, bureau, instrumentality or agency thereof.
<br />All of which is hereunder collectively referred to as the "Trust Estate."
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<br />IT IS UNDERSTOOD AND AGREED BETWEEN TRUSTOR AND BENEFICIARY THAT THIS
<br />TRUST DEED IS GIVEN TO SECURE:
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<br />(a) A Promissory Note, together with interest thereupon, executed by Trustor to
<br />Beneficiary, All advances made to protect the collateral, and all other debts from Siemers to Grand Island
<br />Pump Co of any kind, character, or nature, if any, and described as follows:
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<br />Date of Note: December 31. 2008
<br />Principal Amount: $194,128.38
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<br />payable according to the terms of said Note.
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<br />(b) And the repayment in full by Trustor of all other debts and liabilities, contingent or fixed,
<br />liquidated or unliquidated, from time to time owed by Trustor to Beneficiary, and of any and all future or
<br />additional advances which may be made by Beneficiary, at its option, whether or not at the request of, and
<br />to or for the account of Trustor, or any of them for any purpose, plus interest on all such advances, under any
<br />note or other instrument taken in refinancing, extending, renewing, re-amortizing or restructuring such
<br />indebtedness or any part thereof, all payable according to the tenns of said Note or other instrument; provided,
<br />however, that the total principal indebtedness outstanding and secured hereby at anyone time shall not exceed
<br />the sum of $250,000, exclusive of interest and of the protective advances authorized herein or in the loan
<br />agreement and exclusive of other debts from time to time owed by Trustor to Beneficiary; provided, further,
<br />that THIS PARAGRAPH SHALL NOT CONSTITUTE A COMMITMENT TO MAKE FURTHER OR
<br />ADDITIONAL ADVANCES IN ANY AMOUNT AT ANY TIME, WHETHER OR NOT THE TOTAL
<br />PRINCIPAL INDEBTEDNESS ABOVE HAS BEEN ADVANCED.
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<br />(c) The repayment in full by Trustor of all amounts advanced by Beneficiary, at its option,
<br />to or on behalf of the Trustor as protective advances authorized herein, in the loan agreement, or in other
<br />instruments which may be given to evidence such advances, plus interest on all such advances payable as
<br />provided in the note.
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<br />(d) The payment in full of any and all other past, present, or future, direct or contingent,
<br />debts and liabilities of Trustor to Beneficiary of any nature whatsoever.
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<br />This Trust Deed will be due December I, 20 II, when the notes or debts secured hereby are due, or
<br />upon the payment in full of all sums secured herein whichever occurs first.
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<br />Trustor hereby waives and relinquishes all right of dower, homestead, distributive share, and
<br />exemption in and to the above-described property.
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