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DATE AND PARTIES. The date of this Dead Of
<br />Trust (Security Instrument) is May 28, 2003. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />MICHAEL W PALU
<br />Husband and Wife
<br />4365 Manchester Road
<br />Grand Island, Nebraska 68803
<br />VICTORIA J PALU
<br />Husband and Wife
<br />4365 Manchester
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave.; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />47- 0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />Lot Twenty One (21), Bishop Heights Third Subdivision, Hall County, Nebraska.
<br />The property is located in Hall County at 4365 Manchester Road, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
<br />replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
<br />Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
<br />have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $75,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The fallowing debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, No. 7759151, dated May 28, 2003, from Grantor to Lender, with a
<br />maximum credit limit of $75,000.00 with an interest rate based on the then current index value as the
<br />promissory note prescribes and maturing on May 28, 2008. One or more of the debts secured by this
<br />Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes e
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In
<br />the event that Lender fails to provide any required notice of the right of rescission, Lender waives any
<br />subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument.
<br />This Security Instrument will not secure any debt for which a non - possessory, non- purchase money security
<br />interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by
<br />federal law governing unfair and deceptive credit practices. This Security Instrument will not secure any
<br />Michael Peu Initial.
<br />Nubra.ka Dutl Or Trues paa�
<br />NEI4XX23 2 30 2006 23 9 0000 367 201 90 5 2 7 03Y °1999 Banker. SYS[ema. Inc., St. cmud, MN Exj a �(/7 q
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<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />Trust (Security Instrument) is May 28, 2003. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />MICHAEL W PALU
<br />Husband and Wife
<br />4365 Manchester Road
<br />Grand Island, Nebraska 68803
<br />VICTORIA J PALU
<br />Husband and Wife
<br />4365 Manchester
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />2223 Second Ave.; PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />47- 0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />Lot Twenty One (21), Bishop Heights Third Subdivision, Hall County, Nebraska.
<br />The property is located in Hall County at 4365 Manchester Road, Grand Island, Nebraska 68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock and all existing and future improvements, structures, fixtures, and
<br />replacements that may now, or at any time in the future, be part of the real estate described (all referred to as
<br />Property). This Security Instrument will remain in effect until the Secured Debts and all underlying agreements
<br />have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $75,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The fallowing debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, No. 7759151, dated May 28, 2003, from Grantor to Lender, with a
<br />maximum credit limit of $75,000.00 with an interest rate based on the then current index value as the
<br />promissory note prescribes and maturing on May 28, 2008. One or more of the debts secured by this
<br />Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from Grantor to Lender, even if this Security Instrument is not
<br />specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more than
<br />one person signs this Security Instrument, each agrees that it will secure debts incurred either individually or
<br />with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes e
<br />commitment to make additional or future loans or advances. Any such commitment must be in writing. In
<br />the event that Lender fails to provide any required notice of the right of rescission, Lender waives any
<br />subsequent security interest in the Grantor's principal dwelling that is created by this Security Instrument.
<br />This Security Instrument will not secure any debt for which a non - possessory, non- purchase money security
<br />interest is created in "household goods" in connection with a "consumer loan," as those terms are defined by
<br />federal law governing unfair and deceptive credit practices. This Security Instrument will not secure any
<br />Michael Peu Initial.
<br />Nubra.ka Dutl Or Trues paa�
<br />NEI4XX23 2 30 2006 23 9 0000 367 201 90 5 2 7 03Y °1999 Banker. SYS[ema. Inc., St. cmud, MN Exj a �(/7 q
<br />si r
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