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200302243
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is
<br />acknowledged, and to secure the Secured Debt (defined below) and Tmstor's performance under this
<br />Security Instrument, Toaster irrevocably grants, conveys and sells to Trustee, in trust for the benefit of
<br />Beneficiary, with power of sale, the following described property:
<br />LOT 10, ISLAND ACRES NO. 7, A SUBDIVISION OF PART OF FRACTIONAL SECTION 7;
<br />PART OF THE W1 /2 OF THE W1 /2 OF SECTION 8; AND PART OF LOT 24, ISLAND
<br />ACRES, ALL IN TOWNSHIP 11 NORTH, RANGE 9 WEST OF THE 6TH P.M. IN THE
<br />CITY OF GRAND ISLAND -, HALL COUNTY, NEBRASKA.
<br />The property is located in Hal 1 _... _.. at
<br />(County)
<br />31.0.7 W STATE ST .,... .... ........._...._..._.I , I. (naarc�s)
<br />GRAND ISLAND Nebraska 68803..,,,
<br />(City) (Z1P C�c)
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all
<br />water and riparian rights, ditches, and water stock and all existing and future improvements,
<br />macmres, fixtures, and replacements that may now, or at any time in the future, be part of the real
<br />estate described above (all referred to as "Property. ")
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security instrument
<br />at any one time shall not exceed $ 18,800. 00 . This limitation of amount does not
<br />include interest and other fees and charges validly made pursuant to this Security Instrument. Also,
<br />this limitation does not apply to advances made under the terms of this Security Instrument to protect
<br />Beneficiary's security and to perform any 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,
<br />contract, guaranty or other evidence of debt dated 21 14/2003 together
<br />with all amendments, extensions, modifications or renewals. The maturity date of the Secured
<br />Debt is 2/14/2018
<br />B. All future advances from Beneficiary to Truster under evidence of debt, whether obligatory or
<br />discretionary. All future advances are as if made on the date of this Security Instrument.
<br />Nothing in this Security Instrument shall constitute a commitment to make additional or future
<br />loans or advances which exceed the amount shown in Section 3. Any such commitment must be
<br />agreed to in a separate 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 />S. PAYMENTS. Trusmr agrees that all payments under the Secured Debt will he paid when due and in
<br />accordance with the terms of the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Tmstor warrants that Truster is or will be lawfully seized of the estate
<br />umveyed by this Security Instrument and has die right to irrevocably grant, convey, and sell the
<br />Property to Trustee, in most, with power of sale. Tmstor also warrants that the Property is
<br />Unencumbered, except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security
<br />agreement or other lien document that created a prior security interest or encumbrance on the
<br />Property, Tmstor agrees:
<br />NEBRASKA - DEED OF TRUST
<br />LENE2 loam Page 7 m s
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