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M <br />7�C <br />�v <br />Qr <br />200106397 <br />M <br />T <br />n C <br />D Z <br />N � <br />= N <br />_ n <br />0 c7 to r 0. <br />Q Co <br />VV :2= rM O <br />n <br />-dr1 Q. co _n �1 Q <br />m D� t3a <br />r Q <br />C <br />w cc <br />C.3 v v co <br />CD __j o <br />[Space Above This Line For Recording Data] — <br />CONSTRUCTION SECURITY AGREEMENT <br />DEED OF TRUST <br />�, `��It is understood by the Borrower and Lender that this instrument, which is secured by the above referred property, is a <br />CONSTRUCTION SECURITY AGREEMENT; that it does or will secure an obligation which the Borrower has or will incur for <br />the purpose of making an improvement or improvements on property hereinbefore described; and that advances made hereunder <br />will be applied to the payment of the contract price of said improvements. <br />THIS DEED OF TRUST ( "Security Instrument ") is made on June 28th, 2001 The trustor is <br />Reis Construction Inc <br />( "Borrower "). The trustee is FIRST FEDERAL LINCOLN BANK <br />( "Trustee "). The beneficiary is FIRST FEDERAL LINCOLN BANK <br />which is organized and existing under the laws of UNITED STATES OF AMERICA , and whose <br />address is 1235 N STREET LINCOLN NE 68508- <br />( "Lender "). Borrower owes Lender the principal sum of <br />ONE HUNDRED SEVENTEEN THOUSAND AND 00 /100 <br />Dollars (U.S. $117, 000.00 ). <br />This debt is evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which provides for <br />monthly payments, with the full debt, if not paid earlier, due and payable on December 1, 2002 <br />This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, <br />extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to <br />protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this <br />purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property <br />located in HALL County, Nebraska: <br />Lot Thirty -Eight (38), Jeffrey Oaks Eighth Subdivision, in the City of Grand Island, <br />Hall County, Nebraska. <br />which has the address of 4104 Norseman Avenue <br />Grand Island [city], Nebraska 68803 [zip Code] ( "Property Address "); <br />NEBRASKA - Single Family- FNMA /FHLMC UNIFORM <br />INSTRUMENT Form 3028 9/90 <br />-6R(NE) (9212).04 <br />Amended 5/91 <br />® VMP MORTGAGE FORMS - (800)521 -7291 <br />Page 1 of 6 Initials: <br />[Street] <br />