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<br />REAL ESTATE DEED OF TRUST
<br />1
<br />(With Future Advance Clause)
<br />Construction Security Agreement
<br />p N
<br />1. DATE AND PARTIES. The date of this Dowd of Trust (Security Instrument) isMay 19,
<br />2003
<br />and the parties, their addresses and lax identification numbers, if required, are as follows:
<br />TRUSTOR: GALEN E GERDES and TANERA M GERDES, HUSBAND AND WIFE,
<br />2116 INDEPENDENCE AVE
<br />GRAND ISLAND, NE 68803
<br />E] h checked, reter to the attached Addendum incorporated herein, for additional Trustors,
<br />their signatures and
<br />acknowledgments.
<br />TRUSTEE:
<br />Earl D Ahlschwede, Attorney
<br />WE
<br />BENEFICIARY:
<br />Equitable Federal Savings Bank of Grand Island
<br />113 -115 N. Locust Street Grand Island, NE 68801 -6003
<br />Organized and Existing under the Laws of The State of Nebraska
<br />2. CONVEYANCE. I or good and valuable consideration, the receipt and sufficiency of which is acknowledged. and to
<br />secure the Secured Dehl (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 ol'sale. the following described
<br />property:
<br />LOT THIRTY -FODR (34), LE HEIGHTS FOURTH SUBDIVISION, IN THE CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRABEA.
<br />The property is located in Hall _ _______at 2116 INDEPENDENCE AVE
<br />(Counl)y
<br />_ GRAND ISLAND _ Nebraska 68803 _
<br />((Add,) lCil5 '1 (l IN Cuae]
<br />Together with all rights, easements, appirtenamzw, royalties,. mineral rights, oil and gas rights, all water and riparian
<br />rights, (filches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, he part of the real estate duseribxxl above (all referred to as "Properly').
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one time
<br />shall not exceed $13,660.00 _ _ . This limitation of amount does not include interest and other
<br />foes and charger validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made
<br />under the terms of Ibis Security Instrument to protect Beneficiary's security and to perform any of the covenants
<br />contained in this Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The terns "Secured Debt" is defined as (,,flows:
<br />A, Debt incurred under the terms of all promissory note(s), contracgs), guaranly(s) or other evidcnu of debt
<br />described below and all their extensions, rcnU,.I,. modifications or substitutions. (You must sped rcaffy Mold&
<br />fire debt(,) secured and yu.should6vlude tfv final maturity dam ofsuch debt(,).)
<br />A Line of Credit Agreement dated 05/19/2003
<br />NEBRASKA - HOME EQUITY LINE OF CREDIT DEED OF TRUST ryoi Ok FNUA. rrwc. �F4 ORvA Os0 (p c(4)
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