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M m r) D 2 M n c n CA Z iV D o C> v� c n �..,L c= M. p -n Cn -n C) T M N r o r n N ca a C7) Cn DEED OF TRUST This is a Construction Security Agreement and it secures an obligation which the borrower has and will incur for tl purpose of making an improvement or improvements of the real estate in which the security interest is given. THIS DEED OF TRUST is made this 5"' day of August 1 2004 , by and between Jonathan R. Hodson and Holli J. Hodson. Husband and Wife whether one or more, (hereinafter called the " Trustor"), whose mailing address is 2612 N. Carlton Ave.. Apt. 6. Grand Island, NE 68803 and Homestead Capital Company, Inc. (hereinafter called the "Trustee "), whose mailing address is 104 W. 1s' Street, Wayne, NE 68787 and Homestead Capital Company. Inc. , (hereinafter called the "Beneficiary"), whose mailing address is 104 W. 1$ Street WITNESSETH: IF THIS BOX IS CHECKED N THIS DEED OF TRUST CONSTITUTES A CONSTRUCTION SECURITY AGREEMENT UNDER THE NEBRASKA CONSTRUCTION LIEN ACT AND CREATES, GRANTS AND CONSTTTUIE.S A CONSTRUCTION SECURITY INTEREST IN THE PROPERTY DESCRIBED HEREINBELON. WHEREAS, Trustor is indebted to Beneficiary in the principal sum of One Hundred Ninety Thousand Dollars ( $ 190.000.00 ) which indebtedness is evidenced by Trustor's promissory noted dated August 5. 2004 (hereinafter called the "Note "), payable to the order of Beneficiary and having a maturity of August 5. 2005 ie NOW, THEREFORE, for the purpose of securing: (a) payment of the Note, together with interest thereon, late charges, prepayment penalties, any future advances, and all extensions, modifications, substitutions and renewals thereof, (b) payment of all other sums, fees or charges, together with interest thereon, advanced to protect the security of this Deed of Trust and the performance of the covenants and agreements of Trustor, whether or not set forth herein, (c) performance, discharge of and compliance with every term, covenant, obligation and agreement of Trustor contained herein or incorporated by reference or any other security instrument at any time given to secure the Note, and (d) the repayment of all other sums or future advances, with interest thereon, which may heretofore have been or hereafter be advanced by beneficiary to Trustor or Trustor's successor in interest or title, all of which is hereinafter collectively called the "Indebtedness ", Trustor Irrevocably grants and transfers to Trustee, in trust, WITH POWER OF SALE, the following described property: Lot Seventeen (17), Indianhead Seventh Subdivision in the City of Grand Island, Hall County, Nebraska. together with (i) all buildings, structures, additions, enlargements, modifications, repairs, replacements, and improvements now or hereafter located thereon, (ii) all equipment machinery and fixtures (including without limitation, all lighting, heating, ventilating, cooling, air conditioning, sprinkling and plumbing fixtures, water and power systems, engines, boilers, ranges, ovens, dishwashers, mirrors and mantels, carpeting, furnaces, oil burners, elevators and motors, refrigeration plants or units, communication systems, dynamos, transformers, electrical equipment, storm and screen windows, doors, awnings and shades) now or hereafter attached to, or built in, any building or improvement now or hereafter located thereon, (iii) all easements, rights of way appurtenant thereto, (iv) all leasehold estate, right and title and interest of Trustor in and to all leases, whether now or hereafter existing or entered into (including, without limitation, all cash and security deposits, advance rentals and deposits or payments of a similar nature), pertaining thereto, (v) all rents, issues, profits and income therefrom (subject to the right of Trustor to collect and apply such rents, issues, profits and income as they become due and payable so long as no event of default exists hereunder), (vi) all royalties, mineral, oil and gas rights and profits, water, water rights, and water stock, (vii) all tenements, hereditaments, privileges and appurtenances belonging, used or enjoyed in connection therewith, and (viii) all proceeds of conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims (including, without limitation, proceeds of insurance and condemnation awards, all of which is hereinafter collectively called the "Trust Property ". TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. Title. Trustor covenants, warrants and agrees with Beneficiary, its successors and assigns, that Trustor owns the Trust Property free from any prior lien or encumbrance, that this Deed of Trust is and will remain a valid and enforceable first lien on the Trust Property, that Trustor, at its expense, will preserve such title and will maintain this Deed of Trust as a first and paramount lien upon the Trust Property and will forever warrant and defend the validity and priority of the lien hereof against the claims of all persons and parties whomsoever. Trustor, at its expense, will cause this Deed of Trust, and each amendment or supplement hereto, to be filed and recorded as a mortgage of the Trust Property in such manner and in such place and will take such action as in the opinion of Trustee may be required by any present or future law in order to perfect, maintain and protect the lien of this Deed of Trust, as the same may be amended or supplemented from time to time. Trustor will make such further assurance or assurances to perfect its title to the Trust Property as may be required by Beneficiary. Trustor hereby relinquishes all right of dower and homestead in and to the Trust Property. Page 1 of 5 O N O O S N O J Cn CD CO =3 rt z O