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<br />Store of Nebraska Space Above Thia Line For Recording Deta
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />0 Construction Security Agreement
<br />1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is Oct 03. 2002 O
<br />and the parties, their addresses and tax identification numbers, if required, areas follows:
<br />TRUSTOR: RICK LEE WATSON
<br />ANN D WATSON, HUSBAND AND WIFE
<br />1116 S EDDY STREET
<br />GRAND ISLAND, NE 68801 -6739
<br />01f checked, refer to the attached Addendum incorporated herein, for additional 1'rustors, their signatures and
<br />acknowledbnnents.
<br />TRUSTEE:
<br />Earl D Ahlschwede. Attorney
<br />NE
<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, Trustor 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 />LOT SIX (6), CONCANNON SUBDIVISION,AN ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA,
<br />The property is located in _ _ _ Hal 1 at 1116. S_EDDY STREET
<br />GRAND ISLAND , Nebraska 68801 -6739 _
<br />(Address) (City) (ZIP C.d.)
<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 $ 4, 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 rime(s), contract(s), guaramy(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested thayou include items such as borrowers names, note amounts, interest rates, maturity dates, em.)
<br />A Promissory Note dated 10/03/2002
<br />NEBRASKA -DEED OF TRUST Mm FOR FNMA. FxrMC. Fns OR Is U3!) / (Pope i of a)
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