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- <br />- <br />m n > <br />x Ed <br />ry <br />o `." <br />-. <br />o <br />Pat <br />i <br />0 <br />0 <br />Z cr <br />n <br />s <br />o -n <br />o <br />h <br />) <br />N <br />y <br />~ <br />13 <br />H <br />J <br />Q <br />So <br />State of Nebraska <br />Space Above 9Tis Line For Recording <br />Data <br />DEED OF TRUST <br />C <br />(With Future Advance Clause) <br />�--� <br />Construction Security Agreement <br />C <br />I. <br />DATE AND PARTIES. The date of <br />this Deed of Trust (Security Instrument) is Nov <br />08. <br />2002 <br />_ - - _ <br />- <br />and the parties, their addresses and tax identification numbers, if required, Inc as follows: <br />`YC\ <br />TRUSTOR: GARY D PHILLIPS <br />DEBRA D PHILLIPS <br />711 AUSTIN AVE <br />GRAND ISLAND, NE <br />68801 <br />L1 if checked, refor to the attached <br />Addendum incorporated herein, for additional <br />Trustors, <br />their signatures and <br />acknowledgments. <br />TRUSTEE: <br />Earl D Ahischwede. <br />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 censideration, 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 />LOT ONE (1). IN BLOCK THREE (3), LAKE DAVIS ACRES SUBDIVISION IN HALL COUNTY, <br />NEBRASKA <br />The property is located in at 711 AUSTIN AVE <br />(County) <br />_ - GRAND ISLAND , Nebraska 68801 <br />(Address) (city) (LIP Coda) <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 $ 145. 039.81 . 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), guaranty(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 that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.) <br />A Promissory Note dated 11/08/2002 <br />NEBRASKA - DEED of TRUST (NOT Foe FNMA, EHLMC, PEA Or VA USE) bony ) of 4) <br />0 1994 Bankers Systems. Inc. St Cloud MN (1800,397 -2041) Form RE-0LNE 1027,97 <br />® ®C165tNEi (9008).02 VMP MORTGAGE FORMS - (800)521 -7291 <br />