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<br />DEED OF TRUST
<br />PARTIES: This Deed of Trust is made on 10/16/2002 among, the Grantor, MICHAEL I CLEARY AND DEBORAH S CLEARY, HUSBAND
<br />AND WIFE ( "Borrower'),
<br />AREND R BAACK, ATTORNEY, whose residence address is P. O. Box 790, Grand Island, Hall County, Nebraska C'lonstec"), and the
<br />Beneficiary, HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, a corporation m,unized and existing under the
<br />laws of NEBRASKA whose address is 221 SOUL H LOCUST STREET, GRAND ISLAND, NEBRASKA 68801 ( "Lender ").
<br />CONVEYANCE: For value received, Borrower irrevocably grants unit conveys to Trustee, in trust, with power of sale, the real property, of
<br />which Borrower is lawfully Sewed, described below and all buildings, fixtures, and existing and future improvements thereon and all rights -of-
<br />way, easements, rants, issues, pro its, income, tancments, hereditan ts, privileges and any appurtenances thereunto belonging (all called the
<br />"property').
<br />PROPERTY ADDRESS: 4353 SHERWOOD DRIVE, GRAND ISLAND, Nebraska 68803
<br />LEGAL DESCRIPTION:
<br />SUBDIVISION LOT EIGHTEEN (18) BISHOP HEIGHTS, IN rrLb. CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Located in Hall County, Nebraska.
<br />TITLE: Borrower conventions and warrants title to the property, except for
<br />SECURED DEBT: This deed oC [rust securos to Lender repayment of the secured debt and the performance of the convenants and agreements
<br />contained in this deed of trust and in any other document incorporated herein. Secured debt, as used in this deed of trust, includes any amounts
<br />Borrower owes to Lender under this deed of trust or under any instrument secured by this deed of trust, and all modifications, extensions and
<br />renewals thereof.
<br />'I he secured debt is evidenced by (List all instruments and agreements secured by this deed of trust and the dates thereof.):
<br />0 A PROMISSORY NOTE AND SECURITY AGREEMENT DATED 10/16/2002
<br />®
<br />Failure advances: The above amount is secured even though all or part of it may not yet be advanced. Future advances are
<br />contemplated and will be secured to the same extent as if made on the date of this deed of bast is executed.
<br />❑ Revolving line of credit agreement dated _ _ , with initial normal interest rate of %
<br />All amounts owed aide, this agreement are secured even though all amounts may not yet be advanced. Future advances under
<br />the agreement are contemplated and will be secured to the same extent as if made on the date this deed of trust is executed.
<br />The above obligation is due and payable on November 01, 2010 if not paid earlier.
<br />The total unpaid balance secured by this deed of fist at any one time shall not exceed a maximum principal not of $25,024.22, plus
<br />interest, plus any amounts disbursed under the terms of this deed of mist to protect the security of this deed of trust or to perform any of the
<br />...counts contained in this deed of trust, with interest on such disbursements.
<br />❑ Variable (Late: The interest vale on the obligation secured by this deed of trust may vary according to the terms of that obligation.
<br />❑ A copy of the luun agreement containing the terms under which the interest rule may vary is attached to this deed oftrust and
<br />made a part hereof.
<br />RIDERS: ASSIGNMENT OF RENTS
<br />DESIGNATION OF HOMESTEAD
<br />Pursuant to the Farm Homestead Protection Act, designation of homestead iQuached to this deed of trust and made a part hereof has
<br />❑ been disclaimed; the disclaimer is attached to this deed oftrost and made a part hereof.
<br />SIGNATURES: By staring below, Borrower agree to the terms and eonvenants contained in this deed of trust, including those on page
<br />2, and in any rider described ab ve signed by Borrower.
<br />j� /� lit �
<br />y LL EBORAH C
<br />MICHAEL .1 EARY DBORAHSLEARY
<br />ACKNOWLEDGMENT: STATE OF NEBRASKA, HALL COUNTY SS:
<br />The foregoing instrument was acknowledged before me on 10116/2002
<br />By MICHAEL I CLEARY and DE:HORAH S CLEARY, HUSBAND AND WIFE
<br />My commission expires: 'L �' (-' L av �
<br />1 (Notary Public)
<br />GL10AL NOWy Sims sl Nebraska
<br />III 5HAFlON K KI LINT
<br />Camm. E t, Ow 3, 2003
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