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<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />Construction Security Agreement
<br />1. DATE AND PARTIES. 'the date of this Deed of Trust (Security Instrument) is Jan 09, 2002 a
<br />and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />15,.
<br />TRUSTOR: KEVIN E PEAR60N and SONJA J PEARSON, Ht19HAND AND WIFE r
<br />4611 E HISNARK ROAD
<br />GRAND ISLAND, HE 68801
<br />If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgmems.
<br />'I'RUS'PEE:
<br />Earl D Ahlechurede, Attorney
<br />BENEFICIARY:
<br />Equitable Federal Savings Hank of Grand Island
<br />113 -115 N. Locust Street Grated Island, HE 68801 -6003
<br />Organized and Existing Under the Laura 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 Trustor's performance under this Security Instrument, Truster 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 FIVE (5), BLOCK THREE (3). LAKE DAVIS ACRES SUBDIVISION, GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA
<br />The property is located in Nall at 4611 E BISHARK ROAD
<br />tcannlyt
<br />GRAND ISLAND , Nebraska 68801
<br />IAda—,) (Ciy) (ZIP Code)
<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, and replacements that may
<br />now, or at any time in the future, be pan of the real estate described above (all referred to as 'Property ").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amomd Secured by this Security instrument at any one time shall
<br />not exceed $ $21, 0]0.50 . 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 F'U'TURE ADVANCES. the term "Secured Debt" is defined as follows.
<br />A. Debt incurred under the terms of all promissory note(s), eontmet(s), g ewitaity(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 Fares, maturity dales, etc.)
<br />A Promissory Note dated 01/09/2002
<br />NEBRASKA - DEED OF TRUST woT roe FNMA, FFLMq FHA OR vn OsF1 ,I g (page I of 4)
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