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200210778
<br />The property is located in H A L L at 1714 COVENTRY LANE
<br />(Count')
<br />GRAND ISLAND ,Nebraska gHHUI
<br />(Address) (City) (ZIP Code)
<br />Together with all rights, casements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights,
<br />ditches, and wale, stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any
<br />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 not
<br />exceed $ 3ti, 0G0. 00 . This limitation of amount does not include interest and other fees and charges validly made
<br />pursuant to this Security Instrument- Also, this limitation does not apply to advances made under the terms of thus Security
<br />Instrument to protect Beneficiary's security and to perform any of the covenants contained in dos Security Instrument.
<br />0. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of the promissory note, revolving line of credit agreement, contract guaranty or other
<br />evidence of debt dated 09 / 1312002 together with all amendments, extensions, modifications or renewals. The inemrily
<br />date of the Secured Debt is Oa / 13 / 203Y .
<br />B. All future advances from Beneficiary to Trustor tinder evidence of debt, whether obligatory or discretionary. All future
<br />advances are as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or future loans or advances which exceed the amount shown in Section 3. Any such
<br />commitment must be agreed to in a separate writing_
<br />C. All sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property
<br />and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Security
<br />Instrument.
<br />5. PAYMENTS. Truster agrees that all payments under the Secured Debt will be paid when due mid in accordance with the terms of
<br />the Secured Debt and this Security Instrument
<br />6. WARRANTY OF TITLE. Truster warrants Out Tmstor is or will be lawfully seized of the estate conveyed by this Security
<br />Instrument and has the right to irrevocably grant, convey, and sell the Property In Trustee, in trust, with power of sale. Truster also
<br />warrants that the Property is unencumbered except for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of cost, security agreement or other lien document
<br />that created a prior security interest or cncmnbrance on the Property, Toaster agrees.
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. '1'o promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C Not to allow anv modification or extension of, nor rn request any future advances under any note or agreement secured by
<br />the lien document without Beneficiary's prior written consent.
<br />S. CLAIMS AGAINST TITLE. Truster will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of
<br />all notices that such amounts arc due and the receipts evidencing Toaster's payment. Trustor will defend title to the Property
<br />against any claims that would impair the lien of this Security Inswment. Truster agrees to assign to Beneficiary, as requested by
<br />Beneficiary, arw rights, claims or defenses Truster may have against parties who supply labor or materials to maintain or improve
<br />the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to be
<br />irrnocdiaely due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the
<br />Properly- This right is subject to the restrictions imposed by federal law (12 CY R. 591), as applicable- This covenant shall urn
<br />wills [tic Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released_
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. 'Truster will keep the Property in good condition and make
<br />all repairs Ihal are reasonably necessary-. Truster shall not commit or allow any waste, impairment or deterioration of the
<br />Property. Trustor will keep due Propeity free of noxious weeds and grasses. 'Tmstor agrees that the nature of the occupancy and
<br />use will nol substantially change without Beneficiary's prior written consent. Truster will not permit any change in any license,
<br />restrictive covenant or casement without Beneficiary's prior written consent. Tmstor will notify Beneficiary of all demands,
<br />proceedings, claims, and actions against Tmstor and of any loss or damage to the Property.
<br />Beneficiary or Benefician's agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. Beneficiary shall give Truster notice at the time of or before an inspection specifying a reasonable
<br />purpose for the inspection. Any inspection of the Property shall be entirely for Beneficiary's benefit and Truster will in no way
<br />rely on Beneficiary's inspection.
<br />NFRR,ANKA DIUKDOF' rut sr
<br />hQ127H(06/2002)
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