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TRUSTOR (Grantor):
<br />DUAINE L NELSON
<br />2708 PROSPECT ST
<br />GRAND ISLAND, Nebraska 68803
<br />CHERYL L NELSON
<br />2708 PROSPECT ST
<br />GRAND ISLAND, Nebraska 68803
<br />TRUSTEE:
<br />THE OVERLAND NATIONAL BANK OF GRAND ISLAND
<br />Financial Institution
<br />PO Box 1688
<br />Grand Island, Nebraska 68802 -1688
<br />470261795
<br />BENEFICIARY (Lender):
<br />OVERLAND NATIONAL BANK OF GRAND ISLAND
<br />Organized and existing under the laws of the United States of America
<br />304 West 3rd Street
<br />Grand Island, Nebraska 68802
<br />47- 0261795
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />LOTS ONE (1) AND TWO (2), IN BLOCK NINE (9 ), JOHN W. LAMBERT'S ADDITION TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />The Property is located in Hall County at 1 123 EAST SEVENTH , GRAND ISLAND, Nebraska 68801.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
<br />replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
<br />Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
<br />have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $20,273.42. This limitation of amount does not include interest and other fees and charges
<br />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 Lender's security and to perform any of the covenants contained
<br />in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, dated July 31, 2000, from Grantor to Lender, in the amount of
<br />$20,273.42 with interest at the rate of 9.25 percent per year maturing on August 11, 2005.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
<br />event that Lender fails to provide notice of the right of rescission, Lender waives any subsequent security
<br />interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security
<br />Instrument will not secure any debt for which a non - possessory, non - purchase money security interest is
<br />created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br />law governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for
<br />which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose,"
<br />as defined and required by federal law governing securities.
<br />DUAINE L NELSON
<br />Nebraska Dead Of Trust
<br />NE/ 2nadm10687000000000000004600000047nA 01996 Bankers Systems, Inc., St. Cloud, MN
<br />Initials
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<br />Space Above This Line For Recording Data
<br />DEED OF TRUST
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is July 31, 2000.
<br />The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />DUAINE L NELSON
<br />2708 PROSPECT ST
<br />GRAND ISLAND, Nebraska 68803
<br />CHERYL L NELSON
<br />2708 PROSPECT ST
<br />GRAND ISLAND, Nebraska 68803
<br />TRUSTEE:
<br />THE OVERLAND NATIONAL BANK OF GRAND ISLAND
<br />Financial Institution
<br />PO Box 1688
<br />Grand Island, Nebraska 68802 -1688
<br />470261795
<br />BENEFICIARY (Lender):
<br />OVERLAND NATIONAL BANK OF GRAND ISLAND
<br />Organized and existing under the laws of the United States of America
<br />304 West 3rd Street
<br />Grand Island, Nebraska 68802
<br />47- 0261795
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />LOTS ONE (1) AND TWO (2), IN BLOCK NINE (9 ), JOHN W. LAMBERT'S ADDITION TO THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />The Property is located in Hall County at 1 123 EAST SEVENTH , GRAND ISLAND, Nebraska 68801.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
<br />replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
<br />Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
<br />have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $20,273.42. This limitation of amount does not include interest and other fees and charges
<br />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 Lender's security and to perform any of the covenants contained
<br />in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, dated July 31, 2000, from Grantor to Lender, in the amount of
<br />$20,273.42 with interest at the rate of 9.25 percent per year maturing on August 11, 2005.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
<br />event that Lender fails to provide notice of the right of rescission, Lender waives any subsequent security
<br />interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security
<br />Instrument will not secure any debt for which a non - possessory, non - purchase money security interest is
<br />created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br />law governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for
<br />which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose,"
<br />as defined and required by federal law governing securities.
<br />DUAINE L NELSON
<br />Nebraska Dead Of Trust
<br />NE/ 2nadm10687000000000000004600000047nA 01996 Bankers Systems, Inc., St. Cloud, MN
<br />Initials
<br />Page 1
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