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. �. � � � � � � � � .� � � _ `� `° c � �' i � � _.= z -, ;:� i � � � � � rn � � � � �, � � � � -� o �. . s • � � n'�`" rv ° � � � � � � .. - � � �., �.,V s rn rn � � D w F--► y � X \J � ��' � r J? Q = � � � l � � � � \`° D � � � 99 110603 � � ° � � � �� [Space above this line for recording data] � CONSTRUCTION SECURITY AGREEMENT � DEED OF TRUST �� � .� a � THIS DEED OF TRUST ("Security Instrument") is made on October 26, 1999. The trustor is Michael McGahan and Tracy McGahan, husband and wife ("Borrower"). The trustee is Martell State Bank, a branch of Security First Bank ("Trustee"). The beneficiary is ZiTech Inc., d/b/a HRI, which is organized and existing under the laws of the United States of America and whose address is 5601 S 27th Street Suite 101, Lincoln NE 68512 ("Lender"). Borrower owes Lender the principal sum of Four Hundred Fifty Thousand & NO/100 Dollars ($450,000.00). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides far monthly payments, with the full debt, if not paid earlier, due and payable on November 1, 2004. This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, e�rtensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in Hall County, Nebraska: LOT 11, BRENTWOOD THIRD SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA which has the address of 2717 Lakewood Drive,Grand Island,Nebraska 68801 ("Property Address"); TOGETHER WITH all improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument.All of the foregoing is referred to in this Security Instrument as the"Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. NEBRASKA--Single Fami[y--Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7' Form 3028 9/90 (page 1 of 5 pages� Page 1 Form Sottware by Automated Real Estate Services,Inc. 1-800330-1295 X-29549/