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9A 0406180
<br />The property is located in HALL at 2 316 NORTH SYCAMORE STREET
<br />(County)
<br />GRAND ISLAND Nebraska 68801
<br />(Address) (City) (ZIP Code)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, 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 above (all referred to
<br />as "Property. ")
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time shall not exceed $ 83, 000.00 . This limitation of amount does not include interest and other
<br />fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to
<br />advances made under the terms of this Security Instrument to protect Beneficiary's security and to perform any
<br />of the covenants contained in this Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of the promissory note, revolving line of credit agreement, contract,
<br />guaranty or other evidence of debt dated 05 / 2 -7 / 2004 together with all amendments, extensions,
<br />modifications or renewals. The maturity date of the Secured Debt is 05 / 2 -7 / 2044
<br />B. All future advances from Beneficiary to Trustor under evidence of debt, whether obligatory or
<br />discretionary. All future advances are as if made on the date of this Security Instrument. Nothing in
<br />this Security Instrument shall constitute a commitment to make additional or future loans or advances
<br />which exceed the amount shown in Section 3. Any such commitment must be agreed to in a separate
<br />writing.
<br />C. All sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by
<br />Beneficiary under the terms of this Security Instrument.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance
<br />with the terms of the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey, and sell the Property to Trustee, in trust,
<br />with power of sale. Trustor also warrants that the Property is unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prior security interest or encumbrance on the Property, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of, nor to request any future advances under any note or
<br />agreement secured by the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments,
<br />ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to
<br />provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor's
<br />payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses
<br />Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the
<br />Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien,
<br />encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12
<br />C.F.R. 591), as applicable. This covenant shall run with the Property and shall remain in effect until the Secured
<br />Debt is paid in full and this Security Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property in good
<br />condition and make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste,
<br />impairment, or deterioration of the Property. Trustor will keep the Property free of noxious weeds and grasses.
<br />Trustor agrees that the nature of the occupancy and use will not substantially change without Beneficiary's prior
<br />NEBRASKA -DEED OF TRUST
<br />EQ127B (03/2004)
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