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200303057
<br />The properly is located in HALL at 1403 E. 8TH STREET
<br />(County)
<br />GRAND ISLAND ,Nebraska 688012929
<br />(Address) (City) (ZIP Cade)
<br />Together with all rights, casements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian tights,
<br />ditches, and water stock and all existing and future improvements, structures, fixtures, and replacemenis that may now, or at any
<br />time in the future, be pan of the real estate described above (all referred to as "Property _ ")
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Secimly Instrument at any one time shall not
<br />exceed $ 50, ODD. 00 . This limitation of amount does not include interest and other fees and charges validly made
<br />pursuant to this Security Instrument Also, this limitation does not apply to advances made under the IMIS of this Security
<br />Instrument to protect 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, contract, guaranty or other
<br />evidence of debt dated 02/24/2003 together with all amendments, extensions, modifications or renewals. The maturity
<br />date of the Secured Debt is 021 241 2043 .
<br />B. All future advances from Beneficiary to Truster under evidence of debt, whether obligatory or discretionary. All futme
<br />advances are as if made on the date of this Security Instrument Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or future loans or advances which exceed the amount shown in Section 3. Any such
<br />commitment most be agreed to in a separate writing.
<br />C. All stuns advanced and expenses incurred by Beneficiary, for insuring, preserving or otherwise protecting the Property
<br />and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Security
<br />instnnnent.
<br />S. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of
<br />the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Trustor warrants that Truster is or will be lawfully seized of the estate conveyed by this Security
<br />Instrumenl and has the right to irrevocably grant, convey, and sell 0m Property to Tmstee, in trust, with power of sale. 'I'rustor also
<br />warrants tint 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 other lien document
<br />that created a prior security interest or encumbrance on the Properly, Tru_sior 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 />G Not to allow any modification or extension of, nor to request any futme advances under any note or agreement secured by
<br />the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Tmstor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Truster to provide to Beneficiary copies of
<br />all notices that such amounts are due and the rc;cipls evidencing Tmstor's payment. Truster will defend title to the Property
<br />against any claims that would impair the lien of this Security Instrument Truster agrees to assign to Beneficiary, as requested by
<br />Beneficiary, any rights, claims or defenses Tmstor may, have against parties who supply labor or materials to maintain or improve
<br />the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the
<br />Property. 'Phis right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall rim
<br />with the Property and shall remain in effect until the Seemed 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 condition and make
<br />all repairs that me reasonably necessary. Truster shall not commit or allow any waste, impairment, or deterioration of the
<br />Properly. Trustor will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancy and
<br />use will not substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any license,
<br />restrictive covenant or casement without Beneficiary's prior written consent Trustor will notify Beneficiary of all demands,
<br />proceedings, claims, and actions against Trustor, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property al any reasonable time for the purpose of
<br />inspecting the Properly. Beneficiary shall give Trustor notice at the time of or before an inspection specifying a reasonable
<br />purpose for the inspection. Any inspection of the Property shall be entirely for Rencficiary's benefit and Truster will in no way
<br />rely on Beneficiary's inspection.
<br />NEBRASKA DEED OF TRUST
<br />EQ129R (06/2002)
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