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<br /> DEED OF TRUST :po,5o
<br /> (With Future Advance Clause)
<br /> Construction Security Agreement
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<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is April 28, 2006. The parties and
<br />their addresses are:
<br />TRUSTOR (Grantor):
<br />CANFIELD CONSTRUCTION, L.L.C.
<br />A Nebraska Limited Liability Company
<br />3221 Ponca Circle
<br />Grand Island, Nebraska 68803
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />PO Box 430
<br />Kearney, Nebraska 68848
<br />BENEFICIARY (Lender):
<br />PLATTE VALLEY STATE BANK &TRUST COMPANY
<br />Organized and existing under the laws of Nebraska
<br />810 Allen Drive
<br />Grand Island, Nebraska 68803
<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 />
<br />Lot Eighteen (18), in Country Meadows Second Subdivision, in the City of Grand Island, Hall County, Nebraska
<br />
<br />The property is located in HALL County at 4110 West Ridge Ln, GRAND ISLAND, Nebraska 68803.
<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 anyone
<br />time will not exceed $142,800.00. 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. The term "Secured Debts" includes and this Security Instrument will secure each of the
<br />following:
<br />A. Specific Debts. The fOllowing debts and all extensions, renewals, refinancings, modifications and
<br />replacements. A promissory note or other agreement, No. 310910-100, dated April 28, 2006, from
<br />Canfield Construction, L.L.C., CHARLIE M CANFIELD and SUSAN CANFIELD (Borrower) to Lender, with a
<br />loan amount of $142,800.00. One or more of the debts secured by this Security Instrument contains a
<br />future advance provision.
<br />B. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br />Instrument.
<br />4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br />accordance with the terms of the Secured Debts and this Security Instrument.
<br />5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfUlly seized of the estate conveyed by
<br />this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br />with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br />record.
<br />6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or
<br />other lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to lender any notices that Grantor receives from the holder.
<br />
<br />Canfield Construction, L.L.C.
<br />Nebraska Deed Of Trust
<br />NE/4XX28424000937100005187020042806Y
<br />
<br />@1996 Bankers Systems, Inc., St. Cloud, MN ~
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<br />Initials
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