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200316590
<br />Space Above This Line For Recording Data
<br />DEED OF TRUST
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is December 18, 2003. The parties
<br />and their addresses are:
<br />TRUSTOR (Grantor):
<br />LARRY D LEPIN
<br />Spouse of Karen M. Lepin
<br />14606 S 33rd St
<br />Phoenix, Arizona 85044 -7008
<br />KAREN M LEPIN
<br />Spouse of Larry D Lepin
<br />husband and wife
<br />14606 S 33rd St
<br />Phoenix, Arizona 85044 -7008
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Corporation
<br />2223 Second Ave
<br />PO Box 430
<br />Kearney, Nebraska 68848 -0430
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />1451 North Webb Road
<br />Grand Island, Nebraska 68803
<br />47- 0343902
<br />1. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged,
<br />and to secure the Secured Debts and Grantor's performance under this Security Instrument, Grantor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Lender, with power of sale, the following
<br />described property:
<br />THE WEST HALF OF THE NORTHWEST QUARTER (W1/2NW1/4) OF SECTION ELEVEN (11), IN TOWNSHIP
<br />NINE (9) NORTH, RANGE TEN (10), AND THE SOUTHEAST QUARTER (SE1/4) OF SECTION SEVENTEEN (17)
<br />TOWNSHIP NINE(9) NORTH, RANGE NINE(9) ALL WEST OF THE 6TH P.M., HALL COUNTY, NEBRASKA
<br />The property is located in HALL County at , , Nebraska .
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, crops, timber,
<br />all diversion payments or third party payments made to crop producers and all existing and future
<br />improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the
<br />real estate described (all referred to as Property). This Security Instrument will remain in effect until the
<br />Secured Debts and all underlying agreements have been terminated in writing by Lender.
<br />2. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any one
<br />time will not exceed $525,000.00. This limitation of amount does not include interest and other fees and
<br />charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances
<br />made under the terms of this Security Instrument to protect Lender's security and to perform any of the
<br />covenants contained in this Security Instrument.
<br />3. SECURED DEBTS. This Security Instrument will secure the following Secured Debts:
<br />A. Specific Debts. The following debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note, No. 267089 -100, dated December 18, 2003, from Larry D Lepin
<br />(Borrower) to Lender, with a loan amount of $525,000.00.
<br />B. All Debts. All present and future debts from Larry D Lepin to Lender, even if this Security Instrument is
<br />not specifically referenced, or if the future debt is unrelated to or of a different type than this debt. If more
<br />than one person signs this Security Instrument, each agrees that it will secure debts incurred either
<br />individually or with others who may not sign this Security Instrument. Nothing in this Security Instrument
<br />constitutes a commitment to make additional or future loans or advances. Any such commitment must be in
<br />writing. In the event that Lender fails to provide any required notice of the right of rescission, Lender waives
<br />any subsequent security interest in the Grantor's principal dwelling that is created by this Security
<br />Instrument. This Security Instrument will not secure any debt for which a non - possessory, non - purchase
<br />money security interest is created in "household goods" in connection with a "consumer loan," as those
<br />terms are defined by federal law governing unfair and deceptive credit practices. This Security Instrument
<br />Larry D Lapin
<br />Nebraska Deed Of Trust Initials
<br />NE/ 4XX28333000704400004160016121703Y °1996 Bankers Systems, Inc., St. Cloud, MN Ex�; Page 1
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