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<br />PREFACE TO AGRICULTURAL DEED OF TRUST
<br />a
<br />COMPLETE this portion ONLY if the real property described
<br />consists of INDIVIDUALLY OWNED AGRICULTURAL LAND
<br />If applicable, complete ONLY ONE either A, B, or C:
<br />A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />Trustor acknowledges that Trustor is about to execute the following Deed of Trust upon the Property. Trustor, and each of
<br />them if more than one, hereby disclaims Trustor's right to designate a homestead on said real estate. No part of Trustor's homestead
<br />is presently or will in the future be situated upon said real estate. Trustor understands that if Trustor establishes a homestead on any
<br />part of said real estate during the time the Deed of Trust remains unsatisfied and a lien upon said real estate, there shall be no right to
<br />make a designation of homestead in the event of a foreclosure or trustee's sale with respect to said Deed of Trust.
<br />0 B. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />Trustor acknowledges that Trustor is about to execute the following Deed of Trust upon the Property. Trustor, and each of
<br />them if more than one, hereby waives Trustor's right to designate a homestead on said real estate. Trustor understands that Trustor
<br />has right to make a designation of homestead and that by executing this waiver, Trustor is waiving rights otherwise available for the
<br />purpose of affording them the opportunity to retain Trustor's homestead in the event of a default upon the Deed of Trust.
<br />❑ C. DESIGNATION OF HOMESTEAD:
<br />Pursuant to the Farm Homestead Protection Act (Section 76 -1901 et seq. Revised Statutes of the State of Nebraska), Trustor
<br />hereby designates the real estate described in the "Designation of Homestead" attached hereto and incorporated herein by this refer-
<br />ence.
<br />% a.
<br />Trustor Trustor
<br />— Martin L.- Pierson Trustee for the Martin L. Pierson Trust
<br />Trustor Trustor
<br />AGRICULTURAL DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 25th day of April XIN 2000 , by and among
<br />the Trustor, Martin L. Pierson,,Trustee for the Martin L. Pierson Trust
<br />whose mailing address is 44365 100th Road, Gibbon, NE 68840 (herein " Trustor", whether one or more),
<br />the Trustee First State Bank
<br />whose mailing address is 119 C Street, P 0 Box 639, Shelton, NE 68876 (herein "Trustee "), and
<br />the Beneficiary, First State Bank
<br />whose mailing address is 119 C Street, P O Box 639, Shelton, NE 68876 (herein "Lender").
<br />FOIE VAL,U�4B4E.CQNSIDERAI ON, jncludiPa Ler►�ier'smexternsion of cr dit identified herein to
<br />i"iarLi.n L rierson Trustee L r the ar in L. �ierson Trust
<br />(herein "Borrower," whether one or more) and the trust herein created, the receipt
<br />of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real
<br />property described as follows:
<br />South Half of the Southeast Quarter (S z SE 4) of Section Five (5), Township Ten (10)
<br />North, Range Twelve (12) West ofthe 6th P.M., Hall County, Nebraska, excepting a
<br />certain tract more particularly described in Joint Tenancy Warranty Deed recorded as
<br />Dog gy A*alllb i s,lAprovements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such per-
<br />sonal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equip-
<br />ment; and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of which, includ-
<br />ing replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and
<br />all of the foregoing being referred to herein as the "Property ".
<br />NBC 3457F (Agricultural Deed) Rev. 5/96
<br />®1968 National Bank of Commerce Trust and Savings Association, Lincoln, Nebraska
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