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<br />
<br />
<br />DEED OF TRUST ~\;..,~~.~.
<br />(With Future Advance Clause) r
<br />CXJ Construction Security Agreement
<br />1. DATE AND PARTIES. The date of this Deed of Trust (Security Instrument) is ~P_~JJm9_~_L~51511mm_mmmmmmmm__ ~
<br />and the parties, their addresses and tax identification numbers, if required, are as follows:
<br />
<br />TRUSTOR: Robert 0 Riedy and Kristin M Riedy, as husband and wife
<br />
<br />320 Redwood Road
<br />Grand Island, NE 68803
<br />
<br />D If checked, refer to the attached Addendum incorporated herein, for additional Trustors, their signatures and
<br />acknowledgments.
<br />
<br />TRUSTEE:
<br />
<br />union Bank and Trust Grand Island Branch
<br />2008 N Webb Road Grand Island NE 68803-
<br />
<br />BENEFICIARY:
<br />
<br />Union Bank and Trust Company Grand Island Branch
<br />2008 N Webb Road Grand Island NE 68803-
<br />
<br />2. CONVEYANCE. For good and valuable consideration, the receipt and sufficiency of which is acknowledged, and to
<br />secure the Secured Debt (defined below) and Trustor's performance under this Security Instrument, Trustor irrevocably
<br />grants, conveys and sells to Trustee, in trust for the benefit of Beneficiary, with power of sale, the following described
<br />property:
<br />Lot Four (4), Block One (1), ponderosa Lake Estates Fifth Subidivision an Addition
<br />to the City of Grand Island, Hall County, Nebraska
<br />
<br />The property is located in mmmmmnm_mmmmn~~gmmmm_.nm_._m.
<br />(County)
<br />_ _. .. n n n m m m m m n mmmmmm _ mnnn , _ m m m n _ n ~;_~~_c;1.:r_lilJ ~~~ n m m m m m , Nebraska m _ mm ~JIJ~_ 9.;3, m m m_
<br />(Address) (City) (ZIP Code)
<br />
<br />~ 432 Ponderosa Drive
<br />
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian
<br />rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may
<br />now, or at any time in the future, be part of the real estate described above (all referred to as "Property").
<br />
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone time shall
<br />not exceed $ 900,000 . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this
<br />Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (When referencing the debts below it is
<br />suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.)
<br />A Construction Note Dated April 02, 2007 in the amount of $450,000.00 and maturing on 12/02/2007
<br />for borrower (s) Robert D Riedy and Kristin M Riedy with a rate of 8.000%
<br />
<br />NEBRASKA - DEED OF TRUST (NOT FOR FNMA, FHLMC, FHA OR VA USE)
<br />
<br />~t
<br />
<br />(pag~)
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<br />o '994 Bankers Systems, lnc" St. Cloud, MN (1.800.397.2341) Form RE.DT-NE 10127/97 Note Dated April 02,2007
<br />.. -C165(NE) (9808).01 VMP MORTGAGE FORMS. (800)521.7291 Loan Number 07-03-000379
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