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<br />200604622
<br />
<br />Loan # MEI-0761
<br />CONSTRUCTION RIDER TO SECURITY INSTRUMENT
<br />
<br />THIS MORTGAGE, DEED OF TRUST OR SECURITY DEED IS A "CONSTRUCTION"
<br />MORTGAGE, DEED OF TRUST OR SECURITY DEED".
<br />
<br />This Construction Rider to Security Instrument (the "Security Instrument Rider") is made this 22ND day of
<br />MAY, 2006, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or
<br />Security Deed (the "Security Instrument") of even date given by the undersigned (the "Borrower") to MORTGAGE
<br />EXPRESS, INC., (the "Lender"), to secure the Note of even date executed by and between Borrower and Lender,
<br />which Security Instrument covers the property therein and located at:
<br />
<br />325 ARAPAHOE AVENUE GRAND ISLAND, NE 68803
<br />
<br />In addition to the covenants and agreements made in the Note and Security Instrument, Borrower and
<br />Lender further covenant and agree as follows:
<br />
<br />THIS SECURITY INSTRUMENT SECURES FUTURE ADVANCES. Borrower has entered into a
<br />Construction Loan Agreement with Lender under the terms of which Lender may continue to provide and Borrower
<br />may obtain, from time to time, advanees not to exceed at any time a MAXIMUM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES) of EIGHTY TWO THOUSAND FIVE HUNDRED NINETY
<br />TWO DOLLARS AND ZERO CENTS Dollars (U.S. $82,592.00).
<br />
<br />Borrower agrees to pay, or cause to be paid and discharged, on or before the last day on which they may be paid
<br />without penalty or interest, all such duties, taxes, sewer rents, charges for water, or for setting or repairing meters,
<br />and all other utilities in the Improvements or on the Property or any part thereof, and any assessments and payments,
<br />usual or unusual, extraordinary or ordinary, which shall be imposed upon or become due and payable or become a
<br />lien upon the Property or any part thereof and the sidewalks or streets in front thereof and any vaults therein by
<br />virtue of any present or future law ofthe United States or the State, County or City wherein the Property is located
<br />(all of the foregoing being herein collectively called "Impositions"). Borrower shall appear in and contest any
<br />action or proceeding purporting to affect the security hereof or the rights or powers of the Lender. If any action or
<br />proceeding affecting the Property of any part thereof shall be commenced, to which action or proceeding the Lender
<br />is made a party or in which the right to use the Property or any part thereof is threatened or in which, in the opinion
<br />of the Lender, it becomes necessary to defend or uphold the lien of this Security Instrument, all sums paid by the
<br />Lender in connection therewith, including reasonable attorneys' fees, shall be paid by the Borrower, together with
<br />interest thereon at the rate stated in the Note or Construction Rider to Note executed on even date herewith, unless a
<br />lesser rate of interest is specified by state law, then at the lesser rate and as extended, amended and renewed from
<br />time to time, and any such sum and the interest thereon shall be a lien on the Property, prior to any right or title to,
<br />interest in, or claim upon the Property, attaching or accruing subsequent or otherwise subordinate to the lien of this
<br />Security Instrument and shall be deemed to be secured by this Security Instrument.
<br />
<br />Borrower shall pay and promptly discharge, at Borrower's cost and expense, all liens, encumbrances and charges
<br />upon the subject Property or any part thereof or interest therein. Borrower shall have the right to contest in good
<br />faith the validity of any such lien, encumbrances or charge, provided Borrower shall first deposit with Lender a bond
<br />or other security satisfactory to Lender in such amounts as Lender shall reasonably require, but not more than one
<br />and one-half (150%) of the amount of such claim, and provided further that Borrower shall thereafter diligently
<br />proceed to cause such lien, encumbrance or charge to be removed and discharged.
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