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<br />TRUSTOR: MICHAEL R. GRUBBS AND LAURA J. SEDEBSTEN, HUSBAND AND WIFE
<br />4145 ELMWOOD
<br />GRAND ISLAND. NE 60801
<br />LJ If checked, refer to the attached Addendum incorporated herein, for additional Tmstom, their signatures and
<br />acknowledgments.
<br />TRUSTEE: BANK OF DONIPHAN
<br />P 0 BOX 270
<br />DONIPHAN, NE 88832-0270
<br />47.049000
<br />BENEFICIARY: BANK OF DONIPHAN
<br />P O BOX 270
<br />DONIPHAN, NE 686320270
<br />47 D490009
<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, Trustor irrevocably
<br />grants, conveys and sells to Trixace, in trust for the beulfil of Beneficiary, with power of sale, the following described
<br />Property: LOT TEN 1101, IN WESTWOOD PARK FIFTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The property is located in ............................... NBII. ............................... at 4145. ARWI IOP ...............................
<br />(Cmay)
<br />............ ..................................... . ....... . ... ................... GBANPAOIN4................... Nebraska ......... 9@BP.I.........
<br />(Add.) (City) (ZIP Cade)
<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 improvemelns, structures, futures, and replacements Unit 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 lamotuem at Bay one time shall
<br />not exceed $ 1,85. 055.50........... I... I ......................... Toils limitation of amount does not include interest Bud 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 I'UTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terns of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their exh,mions, renewals, modifications or substitutions. (When referencing the debts below if is
<br />suggested shat yon include irenu such as borrowers' nonjes, note a n xans, interest ones, manniry Antes, etc.)
<br />SINGLE PAYMENT NOTE TO MICHAEL R GRUBBS AND LAURA J SEOERSTEN FOR $168,000 AT 7.26% WITH MONTHLY INTEREST PAYMENTS AND ANY
<br />EXTENSIONS, RENEWALS IN PLACE THEREOF
<br />NEBRASKA DEED OF TRUST INOT FOR FNMA, FNLMC, FHA OR VA USEI (p ,a 1 0r 0t
<br />01994 Bankers $MSms. lw, $f. LIoW, MN 11 80039r2341) Fwm PE DT NE IW27/97
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<br />state of Nebraska ---------- - - - - -- SPxe Above'fbts I,Ine
<br />For Recording Data
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />® Construction Security Agreement
<br />1. DATE AND PARTIES.
<br />The date of this Deed of Trust (Security Instrument) is ...............
<br />...0.1; 17:7R02..................
<br />and the parties, their addresses and tax identification nu n e ts, if required, are ae fellows:
<br />y
<br />TRUSTOR: MICHAEL R. GRUBBS AND LAURA J. SEDEBSTEN, HUSBAND AND WIFE
<br />4145 ELMWOOD
<br />GRAND ISLAND. NE 60801
<br />LJ If checked, refer to the attached Addendum incorporated herein, for additional Tmstom, their signatures and
<br />acknowledgments.
<br />TRUSTEE: BANK OF DONIPHAN
<br />P 0 BOX 270
<br />DONIPHAN, NE 88832-0270
<br />47.049000
<br />BENEFICIARY: BANK OF DONIPHAN
<br />P O BOX 270
<br />DONIPHAN, NE 686320270
<br />47 D490009
<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, Trustor irrevocably
<br />grants, conveys and sells to Trixace, in trust for the beulfil of Beneficiary, with power of sale, the following described
<br />Property: LOT TEN 1101, IN WESTWOOD PARK FIFTH SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />The property is located in ............................... NBII. ............................... at 4145. ARWI IOP ...............................
<br />(Cmay)
<br />............ ..................................... . ....... . ... ................... GBANPAOIN4................... Nebraska ......... 9@BP.I.........
<br />(Add.) (City) (ZIP Cade)
<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 improvemelns, structures, futures, and replacements Unit 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 lamotuem at Bay one time shall
<br />not exceed $ 1,85. 055.50........... I... I ......................... Toils limitation of amount does not include interest Bud 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 I'UTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terns of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their exh,mions, renewals, modifications or substitutions. (When referencing the debts below if is
<br />suggested shat yon include irenu such as borrowers' nonjes, note a n xans, interest ones, manniry Antes, etc.)
<br />SINGLE PAYMENT NOTE TO MICHAEL R GRUBBS AND LAURA J SEOERSTEN FOR $168,000 AT 7.26% WITH MONTHLY INTEREST PAYMENTS AND ANY
<br />EXTENSIONS, RENEWALS IN PLACE THEREOF
<br />NEBRASKA DEED OF TRUST INOT FOR FNMA, FNLMC, FHA OR VA USEI (p ,a 1 0r 0t
<br />01994 Bankers $MSms. lw, $f. LIoW, MN 11 80039r2341) Fwm PE DT NE IW27/97
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