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<br />DEED OF TRUST WITH FUTURE ADVANCES
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<br />This Deed of Trust is made as of February 23,2006 by and among Michael S. Dudek and Wendy M. Dudek, husband and wife, the
<br />Trustor, whose mailing address is 636 Meves Avenue, Grandlsland,NE 68801 (herein "Trustor", whether one or more), Nebraska
<br />Energy Federal Credit Union (herein "Trustee") whosemailingaddressisI41415thStreet.P.O.Box499.Columbus.NE 68602-
<br />0499, and the Beneficiary, Nebraska Energy Federal Credit Union, whose mailing address is 1414 15th Street, P.O. Box 499,
<br />Columbus, NE 68602-0499 (herein called "Lender").
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<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Michael S. Dudek and Wendy M.
<br />Dudek, husband and wife (herein called "Borrower", whether one or more) and the trust herein created, the receipt of which is
<br />hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF
<br />SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property,
<br />described as follows:
<br />
<br />Lot Sixteen (16) in Block Two (2) in Meves First Addition to the City of Grand Island, Hall County, Nebraska
<br />
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurtenances
<br />located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such
<br />personal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling
<br />equipment; and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of which,
<br />including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this Deed of
<br />Trust and all of the foregoing being referred to herein as the "Property".
<br />
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit agreement
<br />dated February 23,2006 having a maturity date of March 5,2011 in the original principal amount of $61,600.00 and any and all
<br />modifications, extensions, and renewals thereof or thereto and any and all future advances and readvances to Borrower (or any of
<br />them if more than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the
<br />payment of other sums advanced by Lender to protect the security ofthe Note; (c) the performance of all covenants and agreements
<br />of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if more than one)
<br />to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note,
<br />this Deed of Trust and any and all other documents that secure the Note or otherwise executed in connection therewith, including
<br />without limitation guarantees, security agreements and assignments ofleases and rents, shall be referred to herein as the "Loan
<br />Instruments" .
<br />
<br />Trustor covenants and agrees with Lender as follows:
<br />
<br />1.
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<br />Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />
<br />2.
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<br />Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and
<br />delivered to Lender before execution of this Deed of Trust, and the execution and deliver of this Deed of Trust does not
<br />violate any contract or other obligation to which Trustor is subject.
<br />
<br />3.
<br />
<br />Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />
<br />4.
<br />
<br />Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage" and
<br />such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an
<br />additional named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to
<br />adjust, collect and compromise, all claims thereunder and shall have the option of applying all or part of the insurance
<br />proceeds (i) to any indebtedness secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for
<br />the repair or restoration of the Property or (iii) for any other purpose or object satisfactory to Lender without affecting the
<br />lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of
<br />proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note or cure any default
<br />thereunder or hereunder.
<br />
<br />5.
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<br />Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges
<br />against the Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on nay
<br />mortgage insurance required by Lender.
<br />
<br />6.
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<br />Maintenance, Repairs, and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br />promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br />deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property;
<br />shall not commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or
<br />regulation; and shall pay and promptly discharge at Trustor's cost and expense all liens and encumbrances and chargcs
<br />levied, imposed or assessed against the Property or any part thereof.
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