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200501122
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND
<br />AGREES AS FOLLOWS:
<br />1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that
<br />Trustor owns the Trust Property free from any prior lien or encumbrance, except the lien of Platte Valley State
<br />Bank in place as of the date hereof, that this Deed of Trust is and will remain a valid and enforceable lien on the
<br />Trust Property, that Trustor, at his expense, will preserve such title and will maintain this Deed of Trust as a
<br />paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of the lien
<br />hereof against the claims of all persons and parties whomsoever. Trustor, at his expense, will cause this Deed of
<br />Trust, and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property in
<br />such manner and in such place and will take such action as in the opinion of Trustee may be required by any
<br />present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may be
<br />amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect
<br />its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower
<br />and homestead in and to the Trust Property.
<br />2. Payment of Indebtedness. Trustor shall pay the principal of and interest on the Indebtedness
<br />secured hereby.
<br />3. Charges; Liens. Trustor will keep the Trust Property free from all liens and encumbrances
<br />which in any way may, in the judgment of Beneficiary, have priority over, or impair the security of, this Deed of
<br />Trust, including, but not limited to, liens for unpaid real estate taxes, but Trustor need not discharge any such
<br />lien so long as Trustor shall agree, in writing, to pay the obligation secured by such lien in a manner acceptable
<br />to Beneficiary and shall in good faith contest such lien by appropriate legal proceedings effective to prevent the
<br />enforcement of the lien and the loss of any interest in or part of the Trust Property.
<br />4. Notice. Except for any notice required under applicable law to be given in another manner,
<br />(a) any notice to Trustor provided for in this Deed of Trust shall be given by mailing such notice by certified
<br />mail, return receipt requested, addressed to Trustor at its mailing address set forth above or at such other address
<br />as Trustor may designate by notice to Beneficiary as provided herein, and (b) any notice to Beneficiary or
<br />Trustee shall be given by certified mail, return receipt requested, to Beneficiary's and Trustee's mailing addresses
<br />stated herein or to such other addresses as Beneficiary or Trustee may designate by notice to Trustor as provided
<br />herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Trustor,
<br />Beneficiary, or Trustee when given in the manner designated herein.
<br />5. Governing Law, Severability. This Deed of Trust shall be governed by the laws of the State of
<br />Nebraska. In the event any provision or clause of this Deed of Trust conflicts with applicable law, such conflict
<br />shall not affect other provisions of this Deed of Trust which can be given effect without the conflicting
<br />provisions and to this end the provisions of this Deed of Trust are declared to be severable.
<br />6. Events of Default. Each of the following occurrences shall constitute an event of default
<br />hereunder, (hereinafter called an "Event of Default "): (a) Trustor shall fail to pay after proper notice any
<br />principal, interest, or principal and interest on the Indebtedness; (b) any warranty of title made by Trustor herein
<br />shall be untrue; or (c) Trustor shall fail to observe or perform any of the covenants, agreements or conditions in
<br />this Deed of Trust.
<br />7. Acceleration of Debt; Foreclosure. Upon the occurrence of any Event of Default, or any time
<br />thereafter, Beneficiary may, at its option, after notice designated in the Guaranty, declare all the Indebtedness
<br />secured hereby immediately due and payable and the same shall bear interest at the default rate set forth in the
<br />Guaranty. In such event, Beneficiary may bring any action in any court of competent jurisdiction to foreclose
<br />this Deed of Trust or enforce any of the covenants hereof. Beneficiary may elect to cause the Trust Property or
<br />any part thereof to be sold under the power of sale, and in such event, Beneficiary or Trustee shall give such
<br />notice of default and notice of sale as may be then required by law. Thereafter, upon the expiration of such time
<br />and the giving of such notice of sale as may then be required by law, Trustee, at the time and place specified by
<br />the notice of sale, shall sell such Trust Property, or any part thereof specified by Beneficiary, at public auction to
<br />the highest bidder for cash in lawful money of the United States of America. Upon receipt of payment of the
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