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<br />State of Nebraska Space Above This Line For Recording Data •
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />® Construction Security Agreement A�
<br />1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is Apr 2 0, 2 0 01 _
<br />and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />TRUSTOR:
<br />SHAFER DEVELOPMENT LLC
<br />30 PONDEROSA DRIVE
<br />GRAND ISLAND, NE 68803
<br />E] If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgments.
<br />TRUSTEE:
<br />Earl D Ahlschwede, Attorney
<br />BENEFICIARY:
<br />The Equitable Building & Loan Association, FSB
<br />113 -115 N. Locust Street
<br />Grand Island, NE 68801 -6003
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Trustor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />property:
<br />LOT ONE (1), RICHMOND SECOND SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA.
<br />The property is located in Hall at DIERS AVENUE
<br />(County)
<br />GRAND I S LAND Nebraska 68803
<br />(Address) (City) (ZIP Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian
<br />rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, be part of the real estate described above (all referred to as "Property ").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall
<br />not exceed $ $480, 000.00 . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this
<br />Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.)
<br />A Promissory Note dated 04/20/2001 Loan No: 0388050018
<br />NEBRASKA - DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE) (page 1 of 4)
<br />`0 1994 Bankers Systems, Inc., St. Cloud, MN (1 -800- 397 -2341) Form RE -DT -NE 10/27/97
<br />�m C165(NE) (9808) VMP MORTGAGE FORMS - (800)521 -7291
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