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<br />Space Above This Line For Recording Data
<br />
<br />DEED OF TRUST
<br />(With Future Advance Clause)
<br />
<br />J~ ,0 CJ
<br />
<br />DATE AND PARTIES. The date of this Deed Of Trust (Security Instrument) is May 7, 2007. The parties and
<br />their addresses are:
<br />
<br />TRUSTOR (Grantor):
<br />DOUGLAS M WESTERBY
<br />Spouse of Victoria Westerby
<br />3620 Catfish Ave
<br />Grand Island, Nebraska 68801
<br />VICTORIA WESTERBY
<br />Spouse of Douglas M Westerby
<br />3620 Catfish Ave
<br />Grand Island, Nebraska 68801
<br />
<br />TRUSTEE:
<br />PLATTE VALLEY STATE BANK & TRUST COMPANY
<br />a Nebraska Corporation
<br />POBox 51 68
<br />Grand Island, Nebraska 68802
<br />
<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 />See Exhibit A Attached hereto
<br />
<br />The property is located in Hall County at 3620 WOld Hwy 30 and 3620 Catfish, Grand Island, Nebraska
<br />68803.
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and
<br />riparian rights, wells, ditches and water stock, crops, timber, all diversion payments or third party payments
<br />made to crop producers and all existing and future improvements, structures, fixtures, and replacements that
<br />may now, or at any time in the future, be part of the real estate described (all referred to as Property). This
<br />Security Instrument will remain in effect until the Secured Debts and all underlying agreements have been
<br />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 $400,000.00. 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, dated May 7, 2007, from The Boat Dock, Inc.
<br />(Borrower) to Lender, with a loan amount of $400,000.00. One or more of the debts secured by this
<br />Security Instrument contains a future advance provision.
<br />B. All Debts. All present and future debts from The Boat Dock, Inc. to Lender, even if this Security
<br />Instrument is not specifically referenced, or if the future debt is unrelated to or of a different type than this
<br />debt. If more than one person signs this Security Instrument, each agrees that it will secure debts incurred
<br />either individually or with others who may not sign this Security Instrument. Nothing in this Security
<br />Instrument constitutes a commitment to make additional or future loans or advances. Any such commitment
<br />must be in writing. In the event that Lender fails to provide any required notice of the right of rescission,
<br />Lender waives any subsequent security interest in the Grantor's principal dwelling that is created by this
<br />Security Instrument. This Security Instrument will not secure any debt for which anon-possessory, non-
<br />purchase money security interest is created in "household goods" in connection with a "consumer loan," as
<br />those terms are defined by federal law governing unfair and deceptive credit practices. This Security
<br />
<br />The Boat Dock, Inc.
<br />Nebraska Deed Of Trust
<br />NE/4XX28333000005900005586016050507Y
<br />
<br />@1996 Bankers Systems, Inc., St. Cloud, MN ~
<br />
<br />Initials,
<br />Page 1
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