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201100558
<br />the farm real estate in an efficient and husband-like manner, and will do tillage, seeding, cultivating, and harvest at the
<br />proper time and in the proper manner. Borrower shall also keep in good repair all grass, waterways, terraces, and open
<br />ditches.
<br />6. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give
<br />Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br />7. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, in connection
<br />with any condemnation or other taking of any part of the Property, or far conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender.
<br />8. BORROWER NOT RELEASED; FOREBEARANCE BY LENDER NOT A WAIVER. Extension of the time
<br />for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to
<br />Borrower or any successor in interest of Borrower shall not operate to release the liability of the original Borrower or
<br />Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest
<br />or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by
<br />reason of any demand made by the original Borrower or Borrower's successors in interest. Any forebearance by Lender
<br />in exercising any right or remedy, shall not be a waiver of or preclude the exercise of any right or remedy.
<br />9. DEFAULT. That, if the Borrower defaults in any of the covenants or agreements contained herein or in
<br />performance of the Promissory Note(s) secured hereby, then the Beneficiary may perform the same and that all
<br />expenditures made by Beneficiary in so doing shall draw interest at the rate provided in the Promissory Note(s) and shall
<br />be repayable by Borrower to Beneficiary and, together with interest and costs accruing thereon, shall be secured by this
<br />Deed of Trust.
<br />lO.ACCELERATION UPON DEFAULT. If the Borrower defaults in the payment of any installment of principal
<br />or interest due under said Promissory Note(s) or if the Borrower defaults in the performance of any other covenant or
<br />agreement to be performed under said Promissory Note(s) or this Deed of Trust, or if a trustee, receiver or liquidator of
<br />the Properly ar of Borrower shall be appointed, or any of the creditors of Borrower shall file a petition in bankruptcy
<br />against Borrower, or for the reorganization of Borrower pursuant to the Federal Bankruptcy Code or any similar law,
<br />whether federal or state, and if such order or petition shall not be discharged or dismissed within thirty (30) days after the
<br />date on which such order or petition was filed, or. Borrower shall file a petition pursuant to the Federal Bankruptcy Code
<br />or any similar law, federal or state, or if Borrower shall be ajudged a bankrupt, or be declared insolvent, or shall make an
<br />assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall
<br />consent to the appointment of a receiver of all or any part of the property, or if any representation or warrant made by
<br />Borrower on any financial statements or reports submitted to Lender by or on behalf of Borrower shall prove false or
<br />materially misleading, or if Borrower is a corporation or partnership and more than fifty percent (50%) of the shares or
<br />beneficial interests in such corporation or partnership, as the case may be, shall be transferred or conveyed, whether
<br />voluntarily or involuntarily, without the written consent of Lender being first had and obtained.
<br />Upon the occurrence of any of the above described defaults, or anytime thereafter, Beneficiary may, at its option,
<br />declare all the indebtedness secured hereby immediately due and payable and the same shall bear interest at the default
<br />rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law, and, irrespective of whether
<br />Beneficiary exercises said option, it may, at its option and in its sole discretion, without any further notice ar demand to or
<br />upon Trustor, do one ar more of the following: (a) Beneficiary may enter upon, take possession of, manage and operate
<br />the Property or any part thereof, make repairs and possession, in its own name, sue for or otherwise collect and receive
<br />rents, issues and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including reasonable attorney fees and Beneficiary's costs, upon the indebtedness secured hereby and in such
<br />order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of any rents,
<br />issues and profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter
<br />occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant to any such
<br />notice. Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of Trust ar enforce
<br />any of the covenants hereof and Beneficiary may elect to cause the Property or any part thereof to be sold under the power
<br />of sale, and in such event, Beneficiary may elect to cause the Property or any part thereof to be sold under the power of
<br />sale, and in such event, Beneficiary or Trustee shall give such notice of default and notice of sale as may be then required
<br />by law.
<br />11. POWER OF SALE. That the Borrower hereby confers upon the Trustee a power to sell the property which
<br />the Trustee may exercise and under which the property may be sold in the manner provided by law. At the option of the
<br />beneficiary, this Deed of Trust may be foreclosed in the manner provided by law for the foreclosure of mortgage on real
<br />property. That, if a sale of the property by the Trustee is exercised under this power of sale, the proceeds shall be applied
<br />first to the payment of the costs and expenses of exercising the power of sale, including the fee of the Trustee in an
<br />amount not to exceed two per cent (2%) of the sale price then to the payment of the obligation secured by the Deed of
<br />Trust and the balance, if any, to the person or persons legally entitled thereto.
<br />12. ACCELERATION IN THE EVENT OF TRANSFER. In the event the title to the said real estate is
<br />transferred, or contracted to be transferred, from the undersigned for any reason or by any method whatsoever, the entire
<br />principal sum and the accrued interest shall at once become due and payable at the election of the Beneficiary. Failure to
<br />exercise this option because of transfer of title as above stated in one instance shall not constitute a waiver of the right to
<br />exercise the same in the event of any subsequent transfer.
<br />13. DUTIES OF TRUSTEE. Borrower agrees that: (a) Duties and obligations of Trustee shall be determined
<br />solely by the express provisions of this Deed of Trust and Trustee shall not be liable except for the performance of such
<br />duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon
<br />Trustee; (b) No provisions of this Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur
<br />any financial obligation in the performance of any of its duties hereunder, or in the exercise of any of its rights or power;
<br />(c) Trustee may consult with counsel of its own choosing and the advice of such counsel shall be full and complete
<br />., �► •
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<br />authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance
<br />thereon; and (d) Trustee shall not be liable for any action taken by it in good faith and reasonably believed by it to be
<br />authorized or within its discretion or rights or powers conferred upon it by this Deed of Trust.
<br />14. RECONVEYANCE. Upon payment of all sums secured by this Security Instrument, Lender shall request
<br />Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this
<br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or
<br />persons legally entitled to it. Such person or persons shall pay any recardation costs.
<br />15. HAZARDOUS MATERIALS. Borrower shall keep the Property in compliance with all applicable laws,
<br />ordinances and regulations relating to industrial hygiene or enviornmental protection (collectively referred to herein as
<br />`Bnviornmental Laws") Borrower shall keep the Property free from all substances deemed to be hazardous or toxic under
<br />any Enviornmental Laws (collectively reffered to herein as "Hazardous Materials"). Borrower hereby warrants and
<br />represents to Lender that there are no Hazardous Materials on or under the Property. Borrower hereby agrees to
<br />indemnify and hold harmless Lender, its directors, officers, employees and agents, and any successors to Lender's
<br />interest, from and against any and all claims, damages, losses and liabilities arising in connection with the claims,
<br />damages, losses and liabilities arising in connection with the presents, use, disposal or transport of any Hazardous
<br />Materials on, under, from or about the Property. The provisions of this section of the Deed of Trust, including the
<br />obligation to indemnify, shall survive the payment of the indebtedness and the satisfaction and reconveyance of the lien
<br />on this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the property, whether by
<br />foreclosure or otherwise.
<br />16. This Deed of Trust shall be binding upon the parties hereto and all their assigned and heirs.
<br />17. NOTICES. Any notices to Borrower provided for in this Security Instrument shall be given by delivering it or by
<br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the
<br />Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by
<br />first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any
<br />notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as
<br />provided in this paragraph.
<br />18. SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a successor
<br />trustee to any Trustee appointed hereunder by an instrument recorded in the County in which this Security Instrument is
<br />recorded. Without conveyance of the Properly, the successor trustee shall succeed to all the title, power, and duties
<br />conferred upon Trustee herein and by applicable law.
<br />DATED this 12th day of January, 2011.
<br />Bernard G. Katzberg BORROWER
<br />TRIJSTEE &
<br />I: �
<br />STATE OF NEBRASKA
<br />COUNTY OF ADAMS )
<br />)
<br />) ss.
<br />Y/LENDER
<br />Executive Vice President
<br />The foregoing instrument was acknowledged before me this 12 day of January, 2011 by Bernard G.
<br />Katzberg, A Single Person, in his own right, and he acknowledge the execution of the above Deed of Trust to be his
<br />voluntary act and deed.
<br />Notary
<br />STATE OF NEBRASKA
<br />COUNTY OF ADAMS )
<br />)
<br />)ss.
<br />GENERAL NOTARY - State of Nebraska
<br />PATSY A. JACOE3SEN
<br />'�+ My Comm. Exp. March 6, 2012
<br />The foregoing instrument was acknowledged before me this 12th day of January, 2011, by John Hohlen,
<br />Executive Vice President of Adams County Bank, a Nebraska Banking corporation, on behalf of the corporation.
<br />Notary
<br />GENtRAI NOTARY - State of Nebraska
<br />��� PATSY A. JACOBSEN
<br />_�.' __, � My Comm. Exp. March 6, 2012
<br />
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