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<br />88- 101244
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<br />I
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<br />TRUST DEED AND CONSTRUCTION SECURITY AGREEMENT
<br />
<br />THIS TRUST DEED is made this li'r. day of y}'1.(( ~ ,
<br />1988, by and between the Trustor, Kenneth L. Shriver and Alice
<br />Shriver, husband and wife (herein "Borrower"), Richard J. Butler,
<br />Attorney at Law (herein "Trustee"), and the Beneficiary, Holdrege
<br />Federal Credit Union, whose address is 412 4th Avenue, P. O. Box
<br />141, Holdrege, Nebraska 68949 (herein "Lender").
<br />
<br />BORROWER, in consideration of the indebtedness herein
<br />recited and the trust herein created, irrevocably grants and
<br />conveys to Trustee, in trust, with the POWER OF SALE, the
<br />following described property located in the County of Hall, state
<br />of Nebraska:
<br />
<br />The Southwest Quarter of the Southeast Quarter (SW 1/4
<br />SE 1/4) of Section Twelve (12), Township Eleven (11)
<br />North, Range Ten (10) West of the 6th P.M., in Hall
<br />County, Nebraska, excepting the following: A tract
<br />deeded to the State of Nebraska and recorded in Deed
<br />Records Book 143, Page 441; A tract of land condemned
<br />by The State of Nebraska in Return of Appraisers
<br />recorded as Document No. 79-004933; and A tract of land
<br />deeded to Mid Nebraska Auto Auction, Inc., and recorded
<br />in Deed Records as Document No. 87-107379.
<br />
<br />THIS IS A CONSTRUCTION SECURITY AGREEMENT AND SECURES AN
<br />OBLIGATION WHICH THE GUARANTOR INCURRED FOR THE PURPOSE OF MAKING
<br />IMPROVEMENT OF THE FOREGOING REAL ESTATE AND IS A CONSTRUCTION
<br />SECURITY INTEREST THEREON.
<br />
<br />TOGETHER with all buildings, fixtures and improvements
<br />now or hereafter erected thereon and all rights-of-way,
<br />easements, rents, issues, profits, income, tenements,
<br />hereditaments, privileges, appurtenances, royalties, and mineral,
<br />oil, gas and water rights thereunto belonging, used or enjoyed
<br />with said land or any part thereof, all of which, including
<br />replacements and additions thereto shall be deemed to be and
<br />remain a part of the property covered by this Trust Deed; and all
<br />of the foregoing together with said property are herein referred
<br />to as the "Property".
<br />
<br />TO SECURE to Lender the repayment of indebtedness
<br />evidenced by Borrower's note dated ~^~~ " , 1988,
<br />(herein "Note") in the principal sum of $200,000.00 and all
<br />renewals and extensions thereof, and as security for all future
<br />advances that may be made by Lender to Borrower from time to time
<br />to protect the security for the payment and performance of any
<br />and all other indebtedness or obligations of the Borrower to the
<br />Lender which may arise, all of said sums not to exceed in the
<br />aggregate a sum equal to three times the original principal
<br />amount of the above recited Note.
<br />
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<br />--.J
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