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<br />DEED OF TRUST
<br />PARTIES: This Deed of Trust is made on 05/17/2002 among, the Grantor, GORDON C WALES AND MARGARET A WALES, HUSBAND
<br />AND WIFE ( "Borrower'"),
<br />AREND R BAACK, ATTORNEY, whose residence address is P. O. Box 790, Grand Island, Hall County, Nebraska ( "Trustee "), and the
<br />Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, a corporation organized and existing under the
<br />laws of NEBRASKA whose address is 221 SOUTH LOCUST STREET, GRAND ISLAND, NEBRASKA 68801 ( "Lender ").
<br />CONVEYANCE: For value received, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the real property, of
<br />which Borrower is lawfully seized, described below and all buildings, fixtures, and existing and future improvements thereon and all rights-of•
<br />way, easements, rents, issues, profits, income, tenements, hereditaments, privileges and any appurtenances thereunto belonging (all called the
<br />„property").
<br />PROPERTY ADDRESS: 3030 N ST PAUL RD, GRAND ISLAND, Nebraska 68801
<br />LEGAL DESCRIPTION:
<br />PART OF 'ITIE NORTH FIFTEEN (15) ACRES OF THE NORTH HALF OF THE SOUTHEAST QUARTER OF THE NORTHEAST
<br />QUARTER (NI /2 SEI /4 NEl /4) OF SECTION FOUR (4) IN TOWNSHIP ELEVEN (l l) NORTH, RANGE NINE (9) WEST OF THE 6TH
<br />P.M., HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT 118.0 FEET
<br />NORTH OF THE SOUTHEAST CORNER OF TI1E NORTHEAST QUARTER (NFl /4) OF SAID SECTION FOUR (4); RUNNING THENCE
<br />W EST 1320.0 FEET TO AN IRON PIN, THENCE SOUTH 198.0 FEET TO AN IRON PIN, THENCE EAST 528.0 FEET TO AN IRON PIN,
<br />THENCE NORTH 110.0 FEET TO AN IRON PIPE, THENCE EAST 792.0 FEET TO THE SECTION LINE, THENCE NORTH ALONG
<br />SAID SEC'T'ION LINE 88.0 FEET TO THE PLACE OF BEGINNING.
<br />Located in Hall County, Nebraska.
<br />TITLE: Borrower convenants and warrants title to the property, except for
<br />SECURED DEBT: This deed of trust secures to Lender repayment of the secured debt and the performance of the convenants and agreements
<br />contained in this deed of trust and in any other document incorporated herein. Secured debt, as used in this deed of trust, includes any amounts
<br />Borrower owes to Lender under this deed of trust or under any instrument secured by this deed of trust, and all modifications, extensions and
<br />renewals thereof.
<br />The secured debt is evidenced by (List all instruments and agreements secured by this deed of trust and the dates thereof.):
<br />0 A PROMISSORY NO'T'E AND SECURITY AGREEMENT DATED 05/17/2002
<br />Future advances: The above amount is secured even though all or pan of it may not yet he advanced. Future advances are
<br />contemplated and will be secured to the same extent as if made on the date of this deed of trust is executed.
<br />❑ Revolving line of credit agreement dated , with initial annual interest rate of
<br />All amounts owed under this agreement are secured even though all amounts may not yet be advanced. Future advances under
<br />the agreement are contemplated and will be secured to the same extent as if made on the date this deed of trust is executed.
<br />The above obligation is due and payable on May 22, 2007 if not paid earlier.
<br />The total unpaid balance secured by this deed of trust at any one time shall not exceed a maximum principal amount of $25,786.51, plus
<br />interest, plus any amounts disbursed under the terms of this deed of trust to protect the security of this deed of trust or to perform any of the
<br />covenants contained in this deed of must, with interest on such disbursements.
<br />p Variable Rate: The interest rate on the obligation secured by this deed of trust may vary according to the terms of that obligation.
<br />A copy of the loan agreement containing the terms under which the interest rate may vary is attached to this deed of trust and
<br />made a part hereof.
<br />RIDERS: ASSIGNMENT OF RENTS
<br />DESIGNATION OF HOMESTEAD
<br />Pursuant to the Farm Homestead Protection Act, designation of homestead fluached to this deed of trust and made a part hereof has
<br />rj been disclaimed; the disclaimer is attached to this deed of trust and made a part hereof.
<br />SIGNATURES: /,By signing below, Borrower agree to the terms and convenants contained in this deed of trust, including those on page
<br />2, and in eny,r rs ascribed above signed by Borrower. (/ ,// p
<br />GORDON C WALES MA ARET A WALES
<br />ACKNOWLEDGMENT: STATE OF NEBRASKA, HALL COUNTY SS:
<br />The foregoing instrument was acknowledged before me on 05/172002
<br />By GORDON C WALES and MARGARET A WALES, HUSBAND AND WIFE
<br />\
<br />My commission expires. ,, 2clt w0
<br />Notary Public)
<br />GENERAL NOTARVM* of McWO
<br />CHRIS L KA,SKIE
<br />fN Comm. E�. Dan 2G, 2001
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