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<br />DEED OF TRUST �o
<br />(With Future Advance Clause) °NS�_
<br />O
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is September 4, 2001. The parties
<br />and their addresses are:
<br />TRUSTOR (Grantor):
<br />MICHAEL J. WESTERBY
<br />4258 Utah Avenue
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />FIRST NATIONAL BANK NORTH PLATTE
<br />Corporation
<br />PO Box 10
<br />201 N Dewey
<br />North Platte, Nebraska 69103
<br />470254665
<br />BENEFICIARY (Lender):
<br />FIRST NATIONAL BANK NORTH PLATTE
<br />Organized and existing under the laws of the United States of America
<br />P.O. Box 10
<br />201 North Dewey
<br />North Platte, Nebraska 69103
<br />47- 0254665
<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 />Lot Twenty -One (21) Capital Heights Eighth Subdivision in the City of Grand Island, Hall County, Nebraska.
<br />The property is located in Hall County at 4258 Utah Avenue, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements 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 $275,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained 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, No. 300, dated September 4, 2001, from M. Westerby, Inc. (Borrower)
<br />to Lender, with a maximum credit limit of $275,000.00 with an initial variable interest rate of 7.25 percent
<br />per year until September 5, 2001, after which time it may change as the promissory note prescribes and
<br />maturing on May 15, 2002. One or more of the debts secured by this Security Instrument contains a future
<br />advance provision.
<br />B. All Debts. All present and future debts from M. Westerby, Inc. to Lender, even if this Security Instrument
<br />is not specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If
<br />more than one person signs this Security Instrument, each agrees that it will secure debts incurred either
<br />M. Westerby, Inc.
<br />Nebraska Deed Of Trust Initials
<br />NE/ 4XXX2059000505900003326055090401Y 01996 Bankers Systems, Inc., St. Cloud, MN E, � Page 1
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