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07/28/2010 15:41 308-773-2224 FARMEP.S STATE BANK PAGE 03/07
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<br />Lenderfw such purposes wlllthan pear interest at the rata Charged undarthe Nate from the date intlutfed yr paid by Lendarto the data of
<br />rapayrnant 6y Trustor. All such expenses will become a part of the Indebtedness end, at Lender's option, will IAI be pavabla on demand;
<br />IBI be added to the balance of the Nava and be epportiened among and ba pavable with any inatallm¢nt payments to become due during
<br />either Ill the term of any applicable insurance policy; or 12) the remaining term of the Nnie; or ICI be treated as a balloon payment
<br />which will be due and payable at the Note's maturity, Tha Dead of Trust also win eaeure payment of these amounts. Tha rights provided
<br />for in this paragraph ahall.be In eddkian to any other rights or any remedies in which Lander may be antltled do account of any default,
<br />Any such action by Lender shall not ba construed es curing the defeuh ae es to bar Lender from any remedy that It otherwise would have
<br />had.
<br />WARpANTY; DEPBNSE pF 7tTLE. The following provisions relating to ownership of the Property afe a pert bf this Deed pf Trust:
<br />Title. Truatvr warrants that: {al Trustor holds good and marketable Litle of record to the Property in fee simple, free and clear of all
<br />liens and encumbranaas other than those set forth in the Reel Prppany dascriptidn or In any tkla insurance policy, title report, ar 11na1
<br />title epinlon issued in favor pf, end accepted by, Lvndar In connection with this Deed of Trust, and (bl Trustor has The full right,
<br />power, end authority to execute end deliver this Deed of Trust to Lender,
<br />Dafenae of Title. Subject to the exception In the paragraph adeva, Trustor warrants and will forever defend the title to the Property
<br />against the lawful claims of all persons. In the svarn any action or proceeding is commenced that quesiiona:Trustor's title or the
<br />interest at Trustee or L®nder under this Dead pf Trust, Truster shall daland the aetlon et Truetar's expense. Trustor may be the
<br />nominal party In such procaedinp. but Lvndar shall be antltled tD partlclpatc in the proceeding and tp b¢ represented in the prnceeding
<br />6y counsel of Lender's own Choice, and Trustor will deliver, pr cause [0 4e delivered, tp Lender aueh Instruments es Lender may
<br />rvquesi from time tv time to permit such participation.
<br />Cempllence With Laws, Trusipr warrants that the Preparty and Trustor's use of the Property pompliea with all existing applicable
<br />laws, ordinances, end regulations of governmental eutharities.
<br />Survrvel pf Premlaes. All promises, agreemarrta, and statements Trustor has made M this Deed of Trust shall Survive the execution
<br />and delivery of this Dead of 7ruat, shall be continuing in nature and shell remain in full force and gttect until such time as borrower's
<br />Indebtedness is paid in Full,
<br />GONDEMNATION. The following pravislpna relatlnp to candemnetien proceedings era a part of this peed of Trust:
<br />Prdeaadlnps. If any prece¢dlnp in cvndamnation IS filed, Trustor shell promp[ly notify Lcntler in writing, and Trusmr shall promptly
<br />take such slaps as may be necessary tv defend [he action and ob[ain the award, Trustor mpg be the nominal party in such
<br />preceding, put Lander shall be entltlad re participate in the proceeding and to 4e representod In the proceadinp by counsel of hs own
<br />choice, and Trustor will deliver or cause to ba delivered to Lvndar such instruments and documentatlvn as may be requested 6y
<br />Lender From time tp time to permit such participation.
<br />Appiieation of Net Prooeeda. iF all or any part of the Property is condemned by eminent domain praceadings or by any proceeding pr
<br />pwohase in Ilsu of nondemnetitln, Lpndsr may at Ra alaetion require that all or any portion of the net proceeds of the award pa applied
<br />to the Indab[odness or the repair or rastorasion pf the Property. The net proeeads of tho award shall mean the award char payment of
<br />aU raeaonable Cosa, expenses, and attorneys' teas incurred by Trustee or Lender in oennectlon with the oondemnatlpn.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTNORITIBS. The following prpvlslons relating to governmental
<br />texas, fees and charges are a part of this Deed of Trust:
<br />Gurcant Taxes. Peen and Charges. Upon request by Landor, Trustor shall execute such dacumeMe In addhinn to this Daed pf Trust
<br />and take whatever other action Is requested by Lender to perfect and continua Lender's lien on the Raal Property, Trusmr shell
<br />reimburse Lander for ell texas, as d¢scrlbed below, together wleh all axppnsea incurred in racardlnp, perfecting or oontlnuing this peed
<br />of Trust, Including wlihvut limhation all texas, fees, documentary stamps, and other charges far recording or ragiatarinp this Daed of
<br />Trust,
<br />Taxes. Tha following shall constitute Taxes to which this section applies; (t) a specific tax upon this type of Daed of Trus[ or upon
<br />all or any part of the Indebtedness secured by this Daad of Trust; (Z1 a speoifie tax en Borrower which Borrower is authorized or
<br />required to deduct from payments on the Indebtedness secured by this [ype of peed of Truce; 19) a tax on this type of Daad of Trust
<br />Chargeable against the Lvndar or the holder of the Nate; and 141 a specific tax pn ail nr any portion of the Indebtedness or tln
<br />payments of prinvipel and interest made by borrower.
<br />Subssquani Taxes. If any tax to which this section applies is enacted aubssquant in ins date of this peed of Trust, this avers[ shall
<br />hove the same effect as en Event of Dafauh, and Lvndar may exercise any or all of its avallabla remedies for an Event of Default as
<br />provided below unless Trustor either It I pays the tax before It becomes delinquent, or 121 contests the tax as provided above in the
<br />Taxaa and Liens saetlan and deposits whh Lender ceah er a sufficient corporate surety bend yr other security sailsfactnry to Lvndar.
<br />5fSGURITY A©REEMENT; PINANCiNG STATEMENTS. The following provisions relating to this peed of Trust es s eecurity agreement are a
<br />part at ihis Dead of Trust;
<br />9eratrhv Apreemem. This instrumem shall canstliute a Security Agreement to the extant any of th¢ Property constitutes fixtures, and
<br />Lander shall have all of the rights at a secured party under the Uniform Commercial Gode es amended from time io lime,
<br />Security Interest. Upon request by Lander, Truster shall take whatever action is requested by Landor to perfect and continue Lender's
<br />sepuriry interest in the Personal Prvprarty. In addition to raeprdlnp this peed of Trust in the reel property records, Lander may, ai enV
<br />time and withptlt further authorization from Trustor, file axecu[ad countptparcs, copies or reproductions of this Daed of Trust as a
<br />flnanCing SiatemenS. Trustor shell reimburse Lender far all expenses Incurred In partepiing or opntinuing this sacurRy imarest. Upon
<br />d¢tault, Trustor shall not remove, saver or detach the Personal Property from the Property. Upon default, Truatar shall assemble any
<br />Personal Property not affixed to the Property in a manner end at a place reasonably convenient to Trustor and Lender and make it
<br />avallabla to Lvndar within throe f31 days after receipt of written demand from Lender to the extant permitted by applicable law,
<br />Addreaaea. The mailing addresses of Trustor Idebtarl and Lender (secured party) from which informatlan concerning the security
<br />interest granted by this Deed of Trust may ba obninsd (aaeh as required by the Uniform Gpmmerclal Cadel era as stated on the flrat
<br />page of this Deed pf Trust.
<br />FLIRTNlR ASSURANGEB; AT7ORNEY•IN-FACT, The following provisions relating to further asaurancps and attorney-in-tact are a part of
<br />this Dead of TtUSt1
<br />Further Asauraneu. At any time, and from time to time, upon request of Lender, Trustor will make, execute and daGvar, ar will cause
<br />to be made, exaputed or d¢Ilvared, to Lvndar or to Lender's designee, and when requested by Lender, cause to be filed, reeordad,
<br />reTlled, or reraeordad, as the Casa may 6e, et such times and in such offices and places as Lender may deem appropriate, any end ell
<br />such mortgages, deeds of [rue[, security deeds, security epreements, finpnaing statements, cominuativn statements, instruments of
<br />further assurance, certlflcates, and other documems as may, in the sole opinion of Lander, pa necessary or desirable in order iv
<br />affeetuata, Complete, perfect, eentinua, er praaerva 11 I Bprrpwer'a and Trustor's obligations under the Note, this Deed of Trust, and
<br />the Roletad Documents, and (2) the liana end security interc is created by thu Deed of Trust ea first end prior Iiena on the Property,
<br />whether now owned or hereafter acquired by Trustor, Unless prohibited by law or Lander agrees to the contrary in writing, Truatar
<br />shall reimburse Lander for all costs and expenses Incurred in connsetion wlih the matters referred to In this paragraph.
<br />Attornayin•Faat. If Trustor fails to do any of the thinpa referred to in the preceding paragraph, Landor may do ao for and In the rema
<br />of Truster and et Trustor'a expanse. For ouch purposes, Trustor hereby Irrevocably eppalnte Lander ae Truetar'a attomay-in-fact for
<br />the purpeae of making, exsauting, dalivsring, filing, recording, and doing ell b[har things as may be necessary or desirable, in Lender's
<br />Sole Oplnian, t0 accomplish the matt0ra referred to in the preceding paragraph.
<br />FULL PlRFORMANCE, If Borrower and Truatpr pay all the Indebtedness, includlnp without Ilmhetlan all future advanaas, When due, and
<br />Trustor otherwise performs all She obllgatlons imposed upon Truetar under this Deed of Trust, Lender shall execute and deliver to Trustaa a
<br />request for full rfacpnveyance and shall execvto and deliver to Trustor suitable atetemems of termination of any flnaneing statement on file
<br />evidencing Lender's security interest in the Rartts and [ha Personal Property. Any reconveyanpe tae fequired by law shall be paid 6y
<br />Trustor, If permitted by epplieeble law.
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