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<br />THIS INSTRUMENT PREPARED BY:
<br />Home Federal Savings & Loan Association of
<br />Grand Island
<br />221 South Locust Street
<br />GRAND ISLAND, NE 68801
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<br />AFTER RECORDING RETURN TO:
<br />Home Federal Savings & Loan Association of
<br />Grand Island
<br />221 South Locust Street
<br />GRAND ISLAND, NE 68801
<br />(Space Above This Line For Recording Data)
<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Security Instrument") is made on January 25, 2012. The grantors are DOUGLAS E
<br />BOURNE, a married person, and also signed by Brenda Bourne, his wife, whose address is 2417 W
<br />OKLAHOMA, GRAND ISLAND, Nebraska 68803-6208 , and BRENDA BOURNE, whose address is 2417 W
<br />OKLAHOMA, GRAND ISLAND, Nebraska 68803-6208 ("Borrower"). Borrower is not necessarily the same as
<br />the Person or Persons who sign the Equity - Line of Credit ("Contract"). "The obligations of Borrowers who did
<br />not sign the Contract are explained further in the section titled Successors and Assigns Bound; Joint and
<br />Several Liability; AccommodaHon Signers. The trustee is Arend R. Baack, Attorney whose address is P.O.
<br />Boz 790, Grand Island, Nebraska 68802 ("Trustee"). The beneficiary is Home Federal Savings & Loan
<br />Association of Grand Island, which is organized and elcisting under the laws of the United States of America and
<br />whose address is 221 South Locust Street, Grand Island, Nebraska 68801 ("I.ender"). DOUGLAS E BOURNE
<br />has entered into a Contract with Lender as of January 25, 2012, under the terms of which Bonower may, from
<br />time to tune, obtain advances not to exceed, at any time, a***MAXIMUM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Fifty Thousand and 00/100 Dollars (U.S. $50,000.00)
<br />("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make advances to
<br />Borrower is advised to consult directly with Lender. If not paid earlier, the sums owing under Borrower's Contract
<br />with Lender will be due and payable on February 15, 2017. This Security Instrument secures to Lender: (a) the
<br />repayment of the debt under the Contract, with interest, including future advances, and all renewals, extensions and
<br />modifications of the Contract; (b) the payment of all other sums, with interest, advanced to protect the security of
<br />this Securiry Instrument under the provisions of the section titled Protection of Lender's Rights in the Property;
<br />and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Contract.
<br />For this purpose, Borrower in consideration of the debt and the trust herein created, irrevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in the COLJNTY of
<br />HALL, State of Nebraska:
<br />Address: 415 WALDO AVENUE, GRAND ISLAND, Nebraska 68803-4555
<br />Legal Description: THE SOiJTH EIGHTEEN (18) FEET OF LOT ONE HUNDRED FORTY-
<br />SEVEN (14'n AND THE NORTH THIRTY-FOUR (34) FEET OF LOT ONE HUNDRED FORTY-
<br />SIX (146), BELMONT ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafrer a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property."
<br />BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances of record.
<br />Bonower and Lender covenant and agree as follows:
<br />Payment of Principal and Interest; Other Charges. Borrower shall promptly pay when due the principal of and
<br />interest on the debt owed under the Contract and late charges or any other fees and charges due under the Coniract.
<br />Applicable Law. As used in this 5ecurity InsUument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />� 20042011 Compliance Systems, Inc. ADCD-BFF3 - 20I OLI.15.461
<br />Consumer Real Estate - Security Ivsuvm�t DL2036 Pege I of 5 www.complimcesystems.com
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