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RECORDATION REQUESTED BY:
<br />NAFCO NE FEDERAL CREDIT UNION
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<br />2115 W. STATE, P.O. BOX 1508
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<br />GRAND ISLAND, NE 68802 -1508 i1
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<br />NAFCO NE FEDERAL CREDIT UNION
<br />2115 W. STATE, P.O. BOX 1508
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<br />GRAND ISLAND, NE 68802 -1508
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<br />SPACE ABOVE THIS LINE IS FOR RECORDERS USE ONLY
<br />REVOLVING
<br />CREDIT
<br />DEED
<br />OF
<br />TRUST
<br />(21-
<br />AMOUNT OF PRINCIPAL INDEBTEDNESS: s 85,000.00
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<br />THIS DEED OF TRUST IS DATED JUNE 15, 2004 , among
<br />KEVIN J. SCHULTE AND HEATHER E. SCHULTE, HUSBAND & WIFE
<br />whose address Is 3850 S. ALDA ROAD, ALDA, NE 68810
<br />(referred to below as "Grantor "); NAFCO NE Federal Credit Union, whose address is 2115 W. STATE, P.O. BOX 1508 , Grand
<br />Island, NE 6a=- 150�referred to below sometimes as "Lender" and sometimes as "Beneficiary"), a corporation organized and existing
<br />under the laws of NEBRASKA ;and
<br />RONALD DEPUE, ATTORNEY , whose address is
<br />NORWEST BANK BLDG, 202 W. 3RD, GRAND ISLAND, NE 68801 (referred to below as "Trustee ").
<br />1. CONVEYANCE AND GRANT. For valuable consideration, Grantor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />Lender as Beneficiary, all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently
<br />erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights
<br />(including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation
<br />any rights Grantor later ac tyres in the fee simple title to the land, subject to a Lease, if any, and all minerals, oil, gas, geothermal and similar matters,
<br />located in MALL , State of Nebraska (the "Real Property"):
<br />LOT TWO (2), DENMAN FARMS SUBDIVISION, CENTER TOWNSHIP,
<br />HALL COUNTY, NEBRASKA
<br />The Real Property or its address is commonly known as
<br />3850 S. ALDA ROAD, ALDA, NE 68810 ,NE,
<br />Grantor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and interest in and to all present and
<br />future leases of the Property.
<br />2. DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust. Terms not otherwise defined in this Deed
<br />of Trust shall have the meanings attributed to such terms in the Nebraska Uniform Commercial Code.
<br />Beneficiary. The word "Beneficiary" means NAFCO NE Federal Credit Union, its successors and assigns. NAFCO NE Federal Credit Union also
<br />is referred to as "Lender" in this Deed of Trust.
<br />Borrower. The word "Borrower" means each and every person who signs the LOANLINERO Home Equity Plan Credit Agreement secured by this
<br />Deed of Trust.
<br />Credit Agreement. The words "Credit Agreement" mean the revolving credit agreement dated 6 -15 -04 , with a credit limit
<br />in the amount of $ 85, 000.00 , between Grantor and Lender, together with all renewals, extensions,
<br />modifications, refinancings, and substitutions for the Credit Agreement. The maturity date of this Deed of Trust, which is the date by which all
<br />Indebtedness under the Credit Agreement and this Deed of Trust is due is 6 -15 -14 NOTICE TO GRANTOR: THE CREDIT
<br />AGREEMENT CONTAINS A VARIABLE INTEREST RATE.
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