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<br />( "Borrower "). The trustee is
<br />FIRST FEDERAL LINCOLN BANK
<br />( "Trustee "). The beneficiary is
<br />FIRST FEDERAL LINCOLN BANK
<br />which is organized and existing under the laws of THE UNITED STATES OF AMERICA , and whose
<br />address is 1235 N STREET, LINCOLN, NEBRASKA 68508
<br />( "Lender "). Borrower owes Lender the principal sum of
<br />Two Hundred Four Thousand Eight Hundred and no /100
<br />Dollars (U.S. $ 204800.00 ).
<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 November 1 2030
<br />This Security Instrumentsecures 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 FOUR (4), RAINBOW LAKE THIRD SUBDIVISION, IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />which has the address of 1710 RAINBOW ROAD GRAND ISLAND [Street, City],
<br />Nebraska 68801 [zip Code] ( "Property Address ");
<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
<br />incur for the purpose of making an improvement or improvements on property hereinbefore described; and that advances
<br />made hereunder will be applied to the payment of the contract price of said improvements.
<br />NEBRASKA - Single Family- FNMA /FHLMC UNIFORM
<br />INSTRUMENT Form 3028 9/90
<br />4M - 6R(NE) (9212).01 Amended 5/91
<br />m
<br />VMP MORTGAGE FORMS - (900)521 -7291 /_ n
<br />Page 1 of 6 Initials:
<br />3028C.frm 3/99
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<br />[Space Above This Line For Recording Data]
<br />CONSTRUCTION SECURITY AGREEMENT
<br />0110155962
<br />DEED OF TRUST
<br />_
<br />200009446
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on October 31
<br />2000
<br />The trustor is
<br />KAY D. BECKING, a single person,
<br />( "Borrower "). The trustee is
<br />FIRST FEDERAL LINCOLN BANK
<br />( "Trustee "). The beneficiary is
<br />FIRST FEDERAL LINCOLN BANK
<br />which is organized and existing under the laws of THE UNITED STATES OF AMERICA , and whose
<br />address is 1235 N STREET, LINCOLN, NEBRASKA 68508
<br />( "Lender "). Borrower owes Lender the principal sum of
<br />Two Hundred Four Thousand Eight Hundred and no /100
<br />Dollars (U.S. $ 204800.00 ).
<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 November 1 2030
<br />This Security Instrumentsecures 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 FOUR (4), RAINBOW LAKE THIRD SUBDIVISION, IN THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />which has the address of 1710 RAINBOW ROAD GRAND ISLAND [Street, City],
<br />Nebraska 68801 [zip Code] ( "Property Address ");
<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
<br />incur for the purpose of making an improvement or improvements on property hereinbefore described; and that advances
<br />made hereunder will be applied to the payment of the contract price of said improvements.
<br />NEBRASKA - Single Family- FNMA /FHLMC UNIFORM
<br />INSTRUMENT Form 3028 9/90
<br />4M - 6R(NE) (9212).01 Amended 5/91
<br />m
<br />VMP MORTGAGE FORMS - (900)521 -7291 /_ n
<br />Page 1 of 6 Initials:
<br />3028C.frm 3/99
<br />
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