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<br />REAL ESTATE DEED OF TRUST
<br />(With Future Advance Clause)
<br />Construction Security Agreement
<br />1. DATE AND PARTIES. The date of this Decd of Tmst (Security Instrument) isKay 16,. 2003
<br />and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />TRUSTOR: JOAN ELLEN GARDNER, AS TRUSTEE OF THE JOAN ELLEN GARDNER REVOCABLE TRUST
<br />2531 MILL RIVER RD
<br />GRAND ISLAND, ME 68801
<br />[J If checked, refer to the attached Addendum incorporated herein, for additional Trustees, their signatures and
<br />acknowledgments.
<br />TRUSTEE:
<br />Earl D Ahlschwede, Attorney
<br />NE
<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. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Truster's performance under this Security Instrument, Tmstor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />property:
<br />LOT ONE (1), BLOCK THREE (3), OLD MILL SUBDIVISION TO THE CITY OF GRAND ISLAND,
<br />HALL COUNTY, NEBRASKA
<br />'Ile property is located in Hall at 2531 MILL RIVER ED. -
<br />(Cnnnry)
<br />GRAND ISLAND Nebraska 68801
<br />(Address) (City) (7TP Coda)
<br />Together with all rights, easements, 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, mid replacements that may
<br />now, or at any lime in the future, be part of the real estate described above (all referred to as "Property ").
<br />3. MAXIMUM OBLIGATION L1MIL The total principal amount secured by this Security Instmment at any one time
<br />shall not excOed $ 50, 000.00 . This limitation of amount does not include interest and other
<br />fees and charges validly made pursuam to this Security Instrument. Also, this limitation does not apply to advances made
<br />under the terms of this 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. 1'he term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory Toilets), contract(s), guaramy s) or other evidence of debt
<br />described below and all their extensions, renewals, modifications or substitutions. (You must specifically identify
<br />the debt(s) secured end you should include the final maturity dare ofsuch debt(s).)
<br />A Line of Credit Agreement dated 05/16/2003
<br />NEBRAS KA - NOME EQURV LINE OF CREDIT DEED OF TRUST NOT FOR ranA, rstnC, FHA OR VA USE) (page I of 4)
<br />G 1999 RInMrrt Syartms, Inc, S,_ 1Im-1, MN 1— x1 11nr -NE 111311
<br />(M - C465(NE) (9901}01 vM2 Mo0.TGAGE FORMS (800)521 7291
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