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200802462 . HALL 1106 W 7TH ST The property is located In ....................................... at ........................................................................... (County) ............................................................, ~.~.~~~. ~~.~.~~~............................, Nebraska .~~~~~............... (Address) (City) (ZIP Code) Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water and riparian rights, ditches, and water stock and all existing and future improvements, structures, fixtures, and replacements that may now, or at any time in the future, be part of the real estate described above (all referred to as "Property"). 3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at anyone time shall not exceed $ ~~!~~~'.~~...................................... . This limitation ofamount does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terms of this Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instrument. 4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty (ies) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions. (Uhen referencing the debts below it is suggested that you include items such as borrowers' names, note amounts, interest rates, maturity dates, ctc.) Borrower's Name(s) MICHAEL SULLIVAN AND PHYLIS SULLIVAN Note Date: 02/25/2008 Maturity Date: 02/25/2018 Principal/Maximum Line Amount: 23,600.00 B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this Security Instrument whether or not this Security Instrument is specifically referenced. If more than one person signs this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Trustor and Beneficiary . D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of this Security Instrument. In the event that Beneficiary fails to provide any required notice of the right of rescission, Beneficiary waives any subsequent security interest in the Trustor's principal dwelling that is created by this Security Instrument. 13933611 (page 2 of 3) _ 1994 Wolters Kluwer Finonciol Services. Bonkers Systems. Form USBREDTSFNE B/30/2006