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<br />PARTIES: This Deed of Trust is made on 05/03/2006 among, the Grantor, GORDON C WALES and MARGARET A WALES, HUSBAND ~
<br />AND WIFE ("Borrower"),
<br />AREND R BAACK, ATTORNEY, whose residence address is P. O. &x 790, Grand Island, Hall County, Nebraska ("Trustee"), and the
<br />Beneficiary; HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, a corporation organized and existing under the
<br />laws of NEBRASKA whose address is 221 SOUTH LOCUST STREET, GRAND ISLAND, NEBRASKA 68801 ("Lender").
<br />CONVEYANCE: For value received, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the real property, of
<br />which Borrower is lawfully seized, described below and all buildings, fixtures, and existing and future improvements thereon and all rights-of-
<br />way, easements, rents, issues, profits, income, tenements, hereditaments, privileges and any appurtenances thereunto belonging (all called the
<br />"property").
<br />PROPERTY ADDRESS: 3030 N ST PAUL ROAD, Grand Island, Nebraska 68801-3101
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<br />LEGAL DESCRIPTION:
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<br />PART OF THE NORTH FIFTEEN (15) ACRES OF THE NORTH HALF OF THE SOUTHEAST QUARTER OF THE NORTHEAST
<br />QUARTER (Nl/2 SE1/4 NEl/4)OF SECTION FOUR (4) IN TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9) WEST OF THE 6TH
<br />P.M., HALL COUNTY, NEBRASKA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A POINT 118.0 FEET
<br />NORTH OF THE SOUTHEAST CORNER OF THE NORTHEAST QUARTER (NEl/4) OF SAID SECTION FOUR (4); RUNNING THENCE
<br />WEST 1320.0 FEET TO AN IRON PIN, THENCE SOUTH 198.0 FEET TO AN IRON PIN, THENCE EAST 528.0 FEET TO AN IRON PIN,
<br />THENCE NORTH 110.0 FEET TO AN IRON PIPE, THENCE EAST 792.0 FEET TO THE SECTION LINE, THENCE NORTH ALONG
<br />SAID SECTION LINE 88.0 FEET TO THE PLACE OF BEGINNING.
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<br />Located in Hall County, Nebraska.
<br />TITLE: Borrower convenants and warrants title to the property, except for
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<br />SECURED DEBT: This deed of trust secures to Lender repayment of the secured debt and the performance of the convenants and agreements
<br />contained in this deed of tn,;:;t :md in lL.1.y other document incorporatt;d hert:iil. Secured debt, as useu 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 />The secured debt is evidenced by (List all instruments and agreements secured by this deed of trust and the dates thereof.):
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<br />. A PROMISSORY NOTE AND SECURITY AGREEMENT DATED 05/03/2006
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<br />. Future 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 oftrust is executed.
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<br />o Revolving line of credit agreement dated , with initial annual interest rate of %
<br />All amounts owed under 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.
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<br />The above obligation is due and payable on May 20,2010 ifnot paid earlier.
<br />The total unpaid balance secured by this deed of trust at anyone time shall not exceed a maximum principal amount of $5,115.50, plus
<br />interest, plus any amounts disbursed under the terms of this deed of trust to protect the security of this deed of trust or to perform any of the
<br />covenants contained in this deed of trust, with interest on such disbursements.
<br />o Variable Rate: The interest rate on the obligation secured by this deed of trust may vary according to the terms of that obligation.
<br />o A copy of the loan agreement containing the terms under which the interest rate may vary is attached to this deed of trust and
<br />made a part hereof.
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<br />RIDERS: ASSIGNMENT OF RENTS
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<br />DESIGNATION OF HOMESTEAD
<br />Pursuant to the Farm Homestead Protection Act, designation of homestead iC1ttached to this deed of trust and made a part hereof has
<br />o been disclaimed; the disclaimer is attached to this deed of trust and made a part hereof.
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<br />SIGNATURES: By signing below, Borrower agree to the terms and convenants contained in this deed oCtrust, including those on page
<br />2, and in any riders described above signed by Borrower.
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<br />g-z'2~;;;'r /-~L.;7
<br />GORDON C WALES
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<br />~ ~ ;Vdu;
<br />GA~WALES
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<br />J GENERAl. NOTARY. State of Nebraska
<br />ACKNOWLEDGMENT: STATE OF NEBRASKA, HALL COUNTY SS: I JUSTIN GRAYBILL
<br />The foregoing instrument was acknowledged before me on 05/03/2006 My Comm. Exp. Jan. 28. 2009
<br />By GORDON C WALES and MARGARET A WALES, HUSBAND AND WIFE
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<br />My oommi"ion OXPff" I /:; if !o 'I li:: d~
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<br /><Notary Public)
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