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<br />THIS INSTRUMENT PREPARED BY:
<br />Home Federal5avings & Loan Association of
<br />Grand Island
<br />221 South Locust Street
<br />GRAND I5LAND, NE 68801
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<br />AF'TER RECORDING RETURN TO:
<br />Home Federal Savings & Loan Association of
<br />Grand Island f ,
<br />221 South Locust Street ` j�0
<br />GRAND ISLAND, NE 68801 � �r �
<br />(Space Above This Line For Recording Data)
<br />CONSTRUCTION SECURITY AGREEMENT
<br />FiJTURE ADVANCES AND FUTURE OBLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED
<br />OF TRUST
<br />This COMMERCIAL CONSTRUCTION REAL ESTATE DEED OF TRUST ("Security Instrument") is made on
<br />April 6, 2012 by the grantor(s) John S. Schulte, and Dianne L. Schulte, Husband and Wife, and Dianne L.
<br />Schulte, whose address is 3422 South 110th Road, Wood River, Nebraska 68883 ("Grantor"). The trustee is
<br />Arend R Baack, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee"). The
<br />beneficiary is Home Federal Savings & Loan Association of Grand Island whose address is 221 Svuth
<br />Locust 5treet, Grand Island, Nebraska 68801 ("Lender"), which is organized and existing under the laws of the
<br />United States of America. Grantor in consideration of loans extended by Lender up to a maximum principal
<br />atnount of Two Hundred Sixty Thousand and 00/100 Dollars ($260,OOp.00) ("Maximum Principal
<br />Indebtedness"), and for other valuable consideration, the receipt of which is acknowledged, irrevocably grants,
<br />conveys and assigns to Trustee, in trust, with power of sale, the following described property located in the
<br />County of Hall, State of Nebraska:
<br />Address: 4121 Sandalwood, GRAND ISLAND, Nebraska 68803
<br />Legal Description: Lot Thirteen (13), Westwood Park Tenth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in
<br />connection with the above-described real properly, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />This is a PURCHASE MONEY DEED OF TRUST.
<br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construcrion loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this' Security Instrument whether now or hereafter existing.
<br />The Related Documents are hereby made a part of this Security Instrument by reference thereto, with the same
<br />force and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Grantor to Lender, howsoever created or arising,
<br />whether primary, secondary or contingent, together with any interest or chazges provided in or arising out of such
<br />indebtedness, as well as the ageements and covenants of this Security Instrument and all Related Documents
<br />(hereinafter all referred to as the "Indebtedness").
<br />FUTURE ADVANCES. To the extent permitted by law, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />may be no balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurted, except any obligation
<br />elcisting or arising against the principal dwelling of any Grantor.
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<br />Commerciel Construction Security Iretrument - DL4007 Page 1 of 5 www.complimcesyst�s.com
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