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<br />200303825
<br />DEED OF TRUST
<br />'Phis DEED OF TRUST is made as of March 27, 2003 by and among the Truster, Russell C. and Kathleen
<br />A. Vowers, Husband and Wife, whose mailing address for purposes of this Deed of Trust is, 1710 Hudson Circle,
<br />Grand Island, NE 68801, (herein, " Trustor', whether one or more), the Trustee, AREND R. RAACK, Attorney at
<br />Law, a member of the Nebraska Slate But Association, whose mailing address is P. O. Box 790, Grand Island, NE
<br />68802-0790 (herein "'Trustee "), and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION
<br />OF GRAND ISLAND, whose mailing address is P. O. Box 1009, Grand Island, NE 68802 -1009 (herein "Lender ").
<br />FOR VALUABLE. CONSIDERATION, including Lenders extension of credit identified herein to Russel
<br />C. and Kathleen A. Vowers, (herein "Borrower ", whether one or more), and the "at herein created, the receipt of
<br />which is hereby acknowledged, Truster hereby irrevocable grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of the Lender, under and subject to the terms and
<br />conditions hereinafter set forth, legally described as follows:
<br />Lot Sixteen (16), Momingside Acres Third Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska.
<br />together with all buildings, improvements, fixtures, sweets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a pan of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property".
<br />This Deed of'I'test shall secure (a) the payment of the principal sum and interest evidenced by a Deed of
<br />Trust Note dared March 27, 2003, having a maturity date of March 27, 2008, in the original principal amount of Ten
<br />Thousand and 00 /100 Dollars ($10,000.00), and any and all modifications, extensions and renewals thereof or
<br />thereto and any and all furore advances and re- advances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note "); (h) the payment of other
<br />sums advanced by Lender to protect the security of the Note; (c) the performance of all covenants and agreements
<br />of Truster set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them
<br />if more [Iran one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty,
<br />overdraft or otherwise. The Note, this Deed of Trust and any and all other documents that secure the Note or
<br />otherwise executed in connection therewith, including without limitation guarantees, security agreements and
<br />assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />TRUS I OR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />L Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Truster is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Dust does not violate any contract or other obligation to which Truster is subject.
<br />3. Taxes, Assessments. To pay before delinquent all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to
<br />Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
<br />may determine, (it) to the Truster to be used for the repair or restoration of the Property , or (iii) for any other
<br />purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
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