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<br />CONSTRUCTION SECURITY AGREEMENT
<br />DEED OF TRUST
<br />Intending to create a construction security interest in accordance with the Nebraska Construction Lien Act, C
<br />this DEED OF TRUST is made as of the 31°' day of May, 2002 by and among the Trustor, Fredda Bartenbach.,
<br />whose mailing address for purposes of this Deed of Trust is 504 S. Grant, Grand Island, NE 68801 (herein,
<br />"Trustor ", whether one or more), the Trustee, AREND R. BAACK, Attorney at Law, a member of the Nebraska
<br />State Bar Association, whose mailing address is P. O. Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "),
<br />and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, whose
<br />mailing address is P. O. Box 1009, Grand Island, NE 68802 -1009 (herein "Lender"),
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Fredda
<br />Bartenbach, (herein "Borrower ", whether one or more), and the trust herein created, the receipt of which is hereby
<br />acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter
<br />set forth, legally described as follows:
<br />LOTS ONE (1) AND TWO (2), IN BLOCK SIX (6) IN ASHTON PLACE, AN ADDITION TO THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a
<br />Construction Line of Credit Draw Note dated May 31, 2002, in the original principal amount of ONE HUNDRED
<br />FIFTY SIX THOUSAND ONE HUNDRED SEVENTY NINE AND 08/100 Dollars ($156,179.08), having a
<br />maturity date of December 1, 2007 unless the earlier call options therein contained shall be exercised by the
<br />Beneficiary, together with any and all modifications, extensions and renewals thereof or thereto and any and all
<br />future advances and readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more
<br />promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums advanced by Lender to
<br />protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and
<br />(d) all present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender
<br />whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The
<br />Note, this Deed of Trust and any and all other documents that secure the Note or otherwise executed in connection
<br />therewith, including without limitation guarantees, security agreements and assignments of leases and rents, shall be
<br />referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay, before delinquent, all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to
<br />Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
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<br />200205834
<br />CONSTRUCTION SECURITY AGREEMENT
<br />DEED OF TRUST
<br />Intending to create a construction security interest in accordance with the Nebraska Construction Lien Act, C
<br />this DEED OF TRUST is made as of the 31°' day of May, 2002 by and among the Trustor, Fredda Bartenbach.,
<br />whose mailing address for purposes of this Deed of Trust is 504 S. Grant, Grand Island, NE 68801 (herein,
<br />"Trustor ", whether one or more), the Trustee, AREND R. BAACK, Attorney at Law, a member of the Nebraska
<br />State Bar Association, whose mailing address is P. O. Box 790, Grand Island, NE 68802 -0790 (herein "Trustee "),
<br />and the Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, whose
<br />mailing address is P. O. Box 1009, Grand Island, NE 68802 -1009 (herein "Lender"),
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Fredda
<br />Bartenbach, (herein "Borrower ", whether one or more), and the trust herein created, the receipt of which is hereby
<br />acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH
<br />POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter
<br />set forth, legally described as follows:
<br />LOTS ONE (1) AND TWO (2), IN BLOCK SIX (6) IN ASHTON PLACE, AN ADDITION TO THE
<br />CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and
<br />appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and
<br />remainders thereof, and such personal property that is attached to the improvements so as to constitute a fixture,
<br />including, but not limited to, heating and cooling equipment and together with the homestead or marital interests, if
<br />any, which interests are hereby released and waived, all of which, including replacements and additions thereto, is
<br />hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being
<br />referred to herein as the "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a
<br />Construction Line of Credit Draw Note dated May 31, 2002, in the original principal amount of ONE HUNDRED
<br />FIFTY SIX THOUSAND ONE HUNDRED SEVENTY NINE AND 08/100 Dollars ($156,179.08), having a
<br />maturity date of December 1, 2007 unless the earlier call options therein contained shall be exercised by the
<br />Beneficiary, together with any and all modifications, extensions and renewals thereof or thereto and any and all
<br />future advances and readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more
<br />promissory notes or credit agreements (herein called "Note "); (b) the payment of other sums advanced by Lender to
<br />protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and
<br />(d) all present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender
<br />whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The
<br />Note, this Deed of Trust and any and all other documents that secure the Note or otherwise executed in connection
<br />therewith, including without limitation guarantees, security agreements and assignments of leases and rents, shall be
<br />referred to herein as the "Loan Instruments ".
<br />TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS:
<br />1. Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property and
<br />warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the
<br />Deed of Trust does not violate any contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments. To pay, before delinquent, all taxes, special assessments and all other charges
<br />against the Property now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire hazards included with the term
<br />"extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to
<br />Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such
<br />policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option
<br />of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender
<br />
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