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That Gary R. Jacobson, an Unmarried Person, of 14 Kuester Lake Road, Grand Island, NE 68801, DEBTOR,
<br />for the purpose of securing the payment of $40,000.00 and interest at 7.25% percent initial annual percentage rate
<br />according to a Promissory Note described as follows: Promissory Note # 774203, dated June 1, 2002, in the amount of
<br />$40,000.00, with an annual interest rate of 7.25 %, payable by the Debtors to Five Points Bank of Grand Island,
<br />Nebraska, with it's main office at 2015 North Broadwell, Grand Island, Nebraska, the SECURED PARTY, the debtors do
<br />hereby grant, mortgage and assign unto said Secured Party the house and all other improvements now or hereafter
<br />situated on a leasehold, at 14 Kuester Lake Road, Grand Island, NE 68801, and all appurtenances thereto, of frame
<br />construction and said house being situated upon:
<br />Lot Eighteen (18) having a lake front footage of 78 feet, situated on the West side of the West portion of
<br />Kuester's Lake, and being on a part of the East Half of the Southwest Quarter (SW1l4) in Section Thirteen (13),
<br />Township Eleven It 1) North, Range Nine (9) West of the 6th P.M., in Hall County, Nebraska.
<br />including any improvements, accessions, accessories, parts, or equipment now or hereafter affixed hereto.
<br />The Debtors warrant that the above - described property situated on said leased premises is free and clear of all
<br />liens and encumbrances, that they will pay the annual ground rent and any assessments payable to the Lessor of such
<br />leased premises when the same is due and payable and before the same become delinquent, according to the
<br />provisions of Debtors' lease; that they will pay all personal taxes before the same become delinquent; that they will
<br />maintain and pay the premiums for fire and extended coverage insurance on said improvements in an amount not less
<br />than the unpaid balance of the indebtedness; that if they fail to pay any such rents, assessments or taxes before the
<br />same become delinquent, or such premiums when the same become due, that the Secured Party may pay the same,
<br />and any such payments by the Secured Party shall be a part of this indebtedness, payment of which shall be secured by
<br />this Security Agreement and Financing Statement shall be forthwith due and repayable by Debtors to the Secured Party
<br />and shall bear interest at the maximum legal rate from the time of such payment of rents, assessments, taxes or
<br />premiums until the same have been repaid to the Secured Party.
<br />It is hereby agreed that if default be made in the payment of said Note or any part thereof when due or if the
<br />Debtors fail to pay ground rent and assessments to the Lessor as required under their Lease or personal taxes before
<br />the same become delinquent, or said insurance premiums when due or if any attempt be made to dispose of or remove
<br />the said mortgaged improvements from said premises or if at any time the Secured Party shall deem the said debt
<br />unsafe or insecure, including nonconformance by the Debtors with any of the terms of their Lease with their Lessor, the
<br />Secured Party is authorized to enter upon the premises where said property may be, and Debtors will forthwith
<br />relinquish possession of the leased premises and improvements to the Secured Party; and thereafter, the Secured Party
<br />shall receive all rents to apply upon said debt and may at its option sell said property at public or private sale with or
<br />without notice, and out of the proceeds of any such sale retain the amount then owing on said debt, with advances and
<br />for expenses pertaining to any such sale, rendering the account to the Debtors and payment to them of any surpluses,
<br />after the whole of said debt shall have been paid, with such advances and expenses of sale.
<br />WITNESS our signatures to the foregoing instrument this 1 June, 2002
<br />Gary R acobso
<br />(DEBTOR)
<br />STATE OF NEBRASKA )
<br />COUNTY OF HALL )
<br />(DEBTOR)
<br />FIVE POINTS BANK, GRAND ISLAND, NEBRASKA
<br />(SEgURFD PARTY)
<br />David Cunningham
<br />On this 1 June, 2002, before me the undersigned, a Notary Public within and for said County, personally came
<br />Gary R. Jacobson, an Unmarried Person, who are known to me and known to me to be the identical persons whose
<br />names are so affixed to the foregoing Security Agreement and Financing Statement as Debtor, and they acknowledge
<br />their execution thereof to be their voluntary act and deed for the purposes therein stated.
<br />WITNESS my hand and Notarial Seal the date last above written.
<br />/ ` /
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<br />SECURITY AGREEMENT
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<br />KNOW ALL MEN BY THESE PRESENTS:
<br />200206153
<br />That Gary R. Jacobson, an Unmarried Person, of 14 Kuester Lake Road, Grand Island, NE 68801, DEBTOR,
<br />for the purpose of securing the payment of $40,000.00 and interest at 7.25% percent initial annual percentage rate
<br />according to a Promissory Note described as follows: Promissory Note # 774203, dated June 1, 2002, in the amount of
<br />$40,000.00, with an annual interest rate of 7.25 %, payable by the Debtors to Five Points Bank of Grand Island,
<br />Nebraska, with it's main office at 2015 North Broadwell, Grand Island, Nebraska, the SECURED PARTY, the debtors do
<br />hereby grant, mortgage and assign unto said Secured Party the house and all other improvements now or hereafter
<br />situated on a leasehold, at 14 Kuester Lake Road, Grand Island, NE 68801, and all appurtenances thereto, of frame
<br />construction and said house being situated upon:
<br />Lot Eighteen (18) having a lake front footage of 78 feet, situated on the West side of the West portion of
<br />Kuester's Lake, and being on a part of the East Half of the Southwest Quarter (SW1l4) in Section Thirteen (13),
<br />Township Eleven It 1) North, Range Nine (9) West of the 6th P.M., in Hall County, Nebraska.
<br />including any improvements, accessions, accessories, parts, or equipment now or hereafter affixed hereto.
<br />The Debtors warrant that the above - described property situated on said leased premises is free and clear of all
<br />liens and encumbrances, that they will pay the annual ground rent and any assessments payable to the Lessor of such
<br />leased premises when the same is due and payable and before the same become delinquent, according to the
<br />provisions of Debtors' lease; that they will pay all personal taxes before the same become delinquent; that they will
<br />maintain and pay the premiums for fire and extended coverage insurance on said improvements in an amount not less
<br />than the unpaid balance of the indebtedness; that if they fail to pay any such rents, assessments or taxes before the
<br />same become delinquent, or such premiums when the same become due, that the Secured Party may pay the same,
<br />and any such payments by the Secured Party shall be a part of this indebtedness, payment of which shall be secured by
<br />this Security Agreement and Financing Statement shall be forthwith due and repayable by Debtors to the Secured Party
<br />and shall bear interest at the maximum legal rate from the time of such payment of rents, assessments, taxes or
<br />premiums until the same have been repaid to the Secured Party.
<br />It is hereby agreed that if default be made in the payment of said Note or any part thereof when due or if the
<br />Debtors fail to pay ground rent and assessments to the Lessor as required under their Lease or personal taxes before
<br />the same become delinquent, or said insurance premiums when due or if any attempt be made to dispose of or remove
<br />the said mortgaged improvements from said premises or if at any time the Secured Party shall deem the said debt
<br />unsafe or insecure, including nonconformance by the Debtors with any of the terms of their Lease with their Lessor, the
<br />Secured Party is authorized to enter upon the premises where said property may be, and Debtors will forthwith
<br />relinquish possession of the leased premises and improvements to the Secured Party; and thereafter, the Secured Party
<br />shall receive all rents to apply upon said debt and may at its option sell said property at public or private sale with or
<br />without notice, and out of the proceeds of any such sale retain the amount then owing on said debt, with advances and
<br />for expenses pertaining to any such sale, rendering the account to the Debtors and payment to them of any surpluses,
<br />after the whole of said debt shall have been paid, with such advances and expenses of sale.
<br />WITNESS our signatures to the foregoing instrument this 1 June, 2002
<br />Gary R acobso
<br />(DEBTOR)
<br />STATE OF NEBRASKA )
<br />COUNTY OF HALL )
<br />(DEBTOR)
<br />FIVE POINTS BANK, GRAND ISLAND, NEBRASKA
<br />(SEgURFD PARTY)
<br />David Cunningham
<br />On this 1 June, 2002, before me the undersigned, a Notary Public within and for said County, personally came
<br />Gary R. Jacobson, an Unmarried Person, who are known to me and known to me to be the identical persons whose
<br />names are so affixed to the foregoing Security Agreement and Financing Statement as Debtor, and they acknowledge
<br />their execution thereof to be their voluntary act and deed for the purposes therein stated.
<br />WITNESS my hand and Notarial Seal the date last above written.
<br />/ ` /
<br />GENER=KOTINEK NOTARY -Stale ka - " "a" Lublic -/� �
<br />I I Notary Public M
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