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<br />State of Nebraska Space Above Inds Line. For Recording Data
<br />01- 61804537 DEED OF TRUST
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<br />(With Future Advance Clause)
<br />Construction Security Agreement
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<br />1. DATE. AND PARTIES. The date of this Decd of Trust (Security Instrument) is Aug. 19,
<br />2002
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<br />mid the parties, their addresses and tax identification numbers, if required, are as follows:
<br />TRUSTOR: GORDON H PEDERSEN, and
<br />PAMELA M PEDERSEN. HUSBAND AND WIFE.
<br />1523 N SYCAMORE
<br />GRAND ISLAND, NE 68801
<br />0 If checked, refer to the attached Addendum incorporated herein, for additional
<br />Trustors,
<br />their signatures
<br />and
<br />acknowledgments.
<br />TRUSILL
<br />Earl D Ahlschwede, Attorney, P.O. Box 2300, Grand Island,
<br />NE 68802
<br />BENEFICIARY:
<br />Equitable Federal Savings Bank of Grand Island
<br />113 -115 N. Locust Street Grand Island. NE 68801 -6003
<br />Organized and Existing Under the Laws 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 />THE NORTHERLY EIGHTY -EIGHT (N88') OF LOT FIVE (5) AND THE WESTERLY THREE FEET (W31)
<br />OF THE NORTHERLY SIXTY -SIX FEET (N66') OF LOT FOUR (4), BLOCK THIRTY -SEVEN (37).
<br />CHARLES WASMER'S ADDITION TO THE CITY OF GRAND ISLAND. HALL COUNTY, NEBRASKA
<br />ACCORDING TO THE RECORDED PLAT THEREOF.
<br />the property is located in Hall _ at 1421 W LOUISE & .509 S
<br />(COUaty)
<br />MADISON GRAND ISLAND , Nebraska 68801
<br />(Address) (City) (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 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 Instrument at any one time shall
<br />not exceed $ 10, 000.00 . 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 FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guazanTy(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When relerencing the debts below it is
<br />suggested that you include items such as borrowers' names. sate amounts, interest rates, maturity dater, etc.)
<br />A Promissory Note dated 08/19/2002
<br />NEBRASKA , -swE OF TRUST FHLMC a,ORVaE 0
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<br />(R- C1551NE1(9808).01 VMP MORTGAGE FORMS- (800)5217291
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