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<br />State of Nebraska - — — -- Space Above This Line For Recording DataN y O
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />Construction Security Agreement C'
<br />DATE AND PARTIES. The date of this Deed of'trust (Security Instrument) is May 12th, 2003
<br />and the parties, their addresses end tax identification numbers, if required, are as follows: ! l�
<br />'FRUSI OR Clyde L Church and Marilyn R Church, as husband and wife
<br />567 East 20th St.
<br />Grand Island, HE 68801
<br />If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgments.
<br />TRUSTEb:
<br />Union Bank and Trust Company
<br />PO BOX 82535 Lincoln NE 68501 -2535
<br />BF,NF.FICIARY:
<br />Union Bank and Trust Company
<br />PO Box 82535 Lincoln HE 68501 -2535
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Truslor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />properly:
<br />The Northerly One Hundred Fifteen and NIne Tenths (115.9) Feet of the Southerly One
<br />Hundred Forty and Nine Tenths (140.9) Feet of Lot Sixteen (16), in Geer Subdivision,
<br />in the City of Grand Island, Hall County, Nebraska
<br />The property is located in Hall at 567 East 20th St.
<br />(COUnty9
<br />Grand Island , Nebraska _ 68801
<br />(Address) (Cry) (ZIP Code?
<br />Together with all rights, cascmenls, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian
<br />rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, be part of the real estate described above (all referred to as "Property ").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time shall
<br />not exceed S $100,000.00 . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this
<br />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 all promissory note(s), contract(s), guaramy(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.)
<br />Construction note dated May 12, 2003 in the amount of $50,000.00 and
<br />maturing on November 12, 2003.
<br />NEBRASKA -DEED OF TRUST (NOT FOR FNMA. ERIMG, Tax OR VA USE) m (2 8 C�(page i»
<br />O 19x4 Bankers sssiono Inc. S1. cmud, MN 00- 397-2341) Form RE.DT -NE 10(27197 Nola Dated May 12th, 2003
<br />IM -cl 65(NE) 19eostor VMRMGRTGAGEFORM5 (800)521 7201
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