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200210779
<br />The property is located in HAL L at 1220 S GUNBARREL RD
<br />(County)
<br />GRAND ISLAND ,Nebraska 88801
<br />(Addmss) (City) (ZIP Code)
<br />Together with all rights, easements. appurtenances, royalties, mineral rights, oil and gas rights, all water and npanan rights,
<br />ditches, and water 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 shalt not
<br />exceed $ 10.000.00 This limitation of amount does not include interest and other fees and charges validly wade
<br />pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this Security
<br />Instrument to protect Beneficiary's security and to perform any of the covenants contained in this 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 the promissory note, revolving line of credit agreement, contract, guaranty or other
<br />evidence of debt dated 091 19 1 2002 together with all amendments, extensions, modifications or renewals_ The maturity
<br />date of the Secured Debt is 091 18l 2 01 7
<br />B. All future advances from Beneficiary to Trustor wider evidence of debt, wlictlier obligatory or discretionary _ All fumm
<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 addibo al or future loans or advances which exceed the amount shown in Section 3. Any such
<br />co ninibncnl most be agreed to in a separate writing_
<br />C. All sons 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 corder the terms of this Security
<br />InslnnncnL
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of
<br />the Secured Debt and this Security Instrwneat.
<br />6. WARRANTY OF TITLE. Truster warmers that Truster is or will be lawfully seized of the estate conveyed by this Security
<br />Instrument and has [lie right to irrevocably grant, convey, and sell the Property to Trustee, in trust. with power of sale. Trustor 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 encumbrance on the Properh'. Truster agrees.
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly, deliver to Beneficiary any notices that Truster receives from the holder.
<br />C Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by
<br />the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor 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 Truster to provide to Beneficiary copies of
<br />all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the Property
<br />against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by
<br />Beneficiary, any rights, claims or defenses Trustor 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 />immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the
<br />Property. This right is subject to the restrictions imposed by federal law (12 C F.R. 591), as applicable. This covenant shall run
<br />with the 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 that are reasonably necessary . Truster shall not commit or allow any waste, impairment, or deterioration of the
<br />Property , Truster will keep the Property free of noxious weeds and grasses. Trustor agrees that the nature of the occupancy and
<br />use will not substantially change without Beneficiary's prior written consent 'Truster will not permit any change in any license,
<br />restrictive covenant or easement without Beneficiary's prior written consent Tmstor will notify Beneficiary of all demands,
<br />proceedings, claims, and actions against Truster, and of any loss or damage to the Property.
<br />Beneficiary or Beneficiary'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 Trustor will in no way
<br />rely on Benefrciarys inspection.
<br />NEBRASKA DEED OF "I REST
<br />G1127B(06✓2002)
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