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DEED OF TRUST MODIFICATION AGREEMENT
<br />(Future Advance Provision)
<br />THIS DEED OF TRUST MODIFICATION AGREEMENT made and executed this °
<br />day of February, 2001, by and between SHAY P. MCGOWAN AND JACEY L.
<br />MCGOWAN, HUSBAND AND WIFE, hereinafter referred to as `Borrower ", and HOME
<br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred
<br />to as "lender ",
<br />WITNESSETH:
<br />WHEREAS, Borrower did execute a certain Deed of Trust dated MAY 24, 2000, filed of
<br />record in the Office of the HALL COUNTY CLERK on MAY 25, 2000 INSTRUMENT
<br />NUMBER 0200004274 in respect to that real estate described as:
<br />LOT TWO (2) IN MEDICAL PARK SUBDIVISION, AN ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />WHEREAS, such Deed of Trust does not contain a provision regarding a right to future
<br />advances to be secured by such Deed of Trust;
<br />WHEREAS, Borrower has requested that Lender make an additional advance to be
<br />secured by such existing Deed of Trust;
<br />WHEREAS, Lender is willing to make an additional advance to be secured by such Deed
<br />of Trust provided there shall have been no filings of record subsequent to the date of the
<br />recording of that Deed of Trust hereinabove identified;
<br />WHEREAS, Borrower and Lender hereby desire to amend the existing Deed of Trust
<br />identified hereinabove to provide that it shall continue to secure the presently remaining
<br />indebtedness and the additional advance and future advances from and after the date hereinafter
<br />specified;
<br />NOW, THEREFORE, it is agreed:
<br />1. Incorporation of Future Advance Rights. From and after the date of the execution
<br />of this Deed of Trust Modification Agreement, the indebtedness secured by the Deed of Trust
<br />described hereinabove shall secure advances made concurrently herewith and future advances in
<br />accordance with the following provision which shall hereafter be deemed to be a part of such
<br />Deed of Trust:
<br />Future Advances. Upon request of Borrower, Lender may, at its option, make additional
<br />and future advances and readvances to Borrower. Such advances and readvances, with
<br />interest thereon, shall be secured by this Deed of Trust. At no time shall the principal
<br />amount of the indebtedness secured by this Deed of Trust, not including sums advanced
<br />to protect the security of this Deed of Trust, exceed the original principal amount stated
<br />herein, or $ 334,500.00 , whichever is greater. The Lender shall have the option to accelerate
<br />the maturity of the note for which this Deed of Trust is given as security, at any time after
<br />December 1, 2005 after first giving the undersigned or the then owner of the premises described
<br />herein a written notice three months in advance of its intent to do so.
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<br />DEED OF TRUST MODIFICATION AGREEMENT
<br />(Future Advance Provision)
<br />THIS DEED OF TRUST MODIFICATION AGREEMENT made and executed this °
<br />day of February, 2001, by and between SHAY P. MCGOWAN AND JACEY L.
<br />MCGOWAN, HUSBAND AND WIFE, hereinafter referred to as `Borrower ", and HOME
<br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred
<br />to as "lender ",
<br />WITNESSETH:
<br />WHEREAS, Borrower did execute a certain Deed of Trust dated MAY 24, 2000, filed of
<br />record in the Office of the HALL COUNTY CLERK on MAY 25, 2000 INSTRUMENT
<br />NUMBER 0200004274 in respect to that real estate described as:
<br />LOT TWO (2) IN MEDICAL PARK SUBDIVISION, AN ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />WHEREAS, such Deed of Trust does not contain a provision regarding a right to future
<br />advances to be secured by such Deed of Trust;
<br />WHEREAS, Borrower has requested that Lender make an additional advance to be
<br />secured by such existing Deed of Trust;
<br />WHEREAS, Lender is willing to make an additional advance to be secured by such Deed
<br />of Trust provided there shall have been no filings of record subsequent to the date of the
<br />recording of that Deed of Trust hereinabove identified;
<br />WHEREAS, Borrower and Lender hereby desire to amend the existing Deed of Trust
<br />identified hereinabove to provide that it shall continue to secure the presently remaining
<br />indebtedness and the additional advance and future advances from and after the date hereinafter
<br />specified;
<br />NOW, THEREFORE, it is agreed:
<br />1. Incorporation of Future Advance Rights. From and after the date of the execution
<br />of this Deed of Trust Modification Agreement, the indebtedness secured by the Deed of Trust
<br />described hereinabove shall secure advances made concurrently herewith and future advances in
<br />accordance with the following provision which shall hereafter be deemed to be a part of such
<br />Deed of Trust:
<br />Future Advances. Upon request of Borrower, Lender may, at its option, make additional
<br />and future advances and readvances to Borrower. Such advances and readvances, with
<br />interest thereon, shall be secured by this Deed of Trust. At no time shall the principal
<br />amount of the indebtedness secured by this Deed of Trust, not including sums advanced
<br />to protect the security of this Deed of Trust, exceed the original principal amount stated
<br />herein, or $ 334,500.00 , whichever is greater. The Lender shall have the option to accelerate
<br />the maturity of the note for which this Deed of Trust is given as security, at any time after
<br />December 1, 2005 after first giving the undersigned or the then owner of the premises described
<br />herein a written notice three months in advance of its intent to do so.
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