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20120055�
<br />The property is located in ... Hall .................................................. at .....................................
<br />(County)
<br />„1409„N,Howard,Pl,,,,,,,,,,,,,,,,,,,,,,,,� „Grand,Islan.d,NE„68,80,,,, Nebraska ..68803,,,,,,,,,,,
<br />(Address) (Ciry) (ZIP Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and
<br />replacements thaf may now, or at any time in the future, be part of the real estate described above (all referred
<br />to as "Property").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any
<br />one time shall not exceed $ 45,,000 ,�is limitation of amount does not
<br />include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this
<br />limitation does not apply to advances made under the terms of this Security Instrument to protect
<br />Beneficiary's security and to perform any of the covenants contained in this Security Instrument.
<br />4. 5ECURED DEBT AND FLJTURE A.DVANCES. The term "Secured Debt" is defined as follov�rs;
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(ies) or other evidence of
<br />debt described below and all their extensions, renewals, modifications or substitutions. (You inust
<br />specifically identify the debt(s) secured and you should include the final �reaturity date of such debt(s).)
<br />Note Dated December 22, 2011 In The Amount Of $45,000.00
<br />Accruing At A Variable Rate With A Maturity Date Of December 10, 2016
<br />Said Loan In The Name(s) Of Clark D Brown
<br />And Cheryl A Brown
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary
<br />under any promissoty note, contract, guaranty, or other evidence of debt executed by Trustor in favor
<br />of Beneficiary after this Security Instrument whether or not this Security Instrument is specifically
<br />referenced. If more than one person signs this Security Instrument, each Trustor agrees that this
<br />Security Instrument will secure all future advances and future obligations that are given to or incurred
<br />by any one or more Trustor, or any one or more Trustor and others. All future advances and other
<br />future obligations are secured by this Security Instrument even though all or part may not yet be
<br />advanced. All future advances and other future obligations. are secured as if made on the date of this
<br />Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make
<br />additional or future loans or advances in any amount. Any such commitment must be agreed to in a
<br />separate writing.
<br />C. All other obligations Trustor owes to Bene�ciary, which may later azise, to the extent not prohibited by
<br />law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement
<br />between Trustor and Bene�'iciary.
<br />D. All additional sums advanced and expenses incurred by Bene�ciary for insuring, preserving or
<br />otherwise protecting the Property and its value and any other sums advanced and expenses incurred by
<br />Bene�ciary under the terms of this Security Instrument.
<br />In the event that Beneficiary fails to provide any required notice of the right of rescission, Beneficiary waives
<br />any subsequent security interest in the Trustor's principal dwelling that is created by this Security Instrument.
<br />5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations
<br />under the Secured Debt and this 5ecurity Instrument. If Trustor breaches any covenant in this section,
<br />Beneficiary may refuse to make additional extensions of credit and reduce the credit limit. By not exercising
<br />either remedy on Trustor's breach, Beneficiary does not waive Beneficiary's right to later consider the event a
<br />breach if it happens again.
<br />Payments. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance
<br />with the terms of the Secured Debt and this Security Instrument.
<br />Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property, Trustor agrees to make all
<br />payments when due and to perform or comply with all covenants. Trustor also agrees not to allow any
<br />modi�cation or extension of, nor to request any future advances under any note or agreement secured by the
<br />lien document without Beneficiary's prior written approval.
<br />Ciairns t�gains4 'd'i�ile. Trustor will pay all taxes (including an3� tax assessed to this� Deed of Trust),
<br />assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the
<br />Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such
<br />amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the Property
<br />against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties who
<br />supply labor or materials to maintain or improve the Property.
<br />C�� ��3
<br />Security Instrument-Open-End-Consumer-NE OCP-REDT-NE 7!2/2011
<br />VMP� Bankers SystemsTM VMP-C485�NE) (11071.00
<br />Wolters Kluwer Financial Services 01994, 2011 Page 2 of B
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