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<br />(Space Atrove'Ihis Line Far Recording Data)
<br />LOAN NUMBER: 010061.2342
<br />'DEED QF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT -FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Security Instrument") is nnade on October 1, 2009. The grantor is RICHARD D•
<br />RAILS, husband and wife, and DENISE M RAII,E, whose address is 4234 HORSEMAN AVE, GRAND
<br />ISLAND, Nebraska 68803 ("Borrower"). Borrower is not necessarily the same as the Person or Persons who sign
<br />the Contract. The obligations ofBvrrowers who did not sign the Contract arc explained further in the section titled
<br />Successors and Assigns Bound; Joint and Several Llablllty; Accommodation Signers. The trustee is Arettd
<br />R. Beack, Attorney whose address is P.Q. Box 790, Grand Island, Nebraska 68802 ("Trustee"). The beneficiary
<br />is Home Federal Savings & Loan Association of Grand Island, which is organized and existing under the laws
<br />of the United States of.Aadnerica and whose address is 221 South Locust Street, Grand Island, Nebraska 68801
<br />("Lender"). RICHARD D RAILS and DENISE M RAILS have entered into •a Equity -Lune of Credit
<br />("Contract") with Lender as. of October 1, 2009, under the terms of which Borrower may, from time to time,
<br />obtain advances not to exceed, at any tinge, a ***MAXIMUM PRINCIPAL AMOUNT (EXCIaUDING
<br />PROTECTIVE ADVANCES)*** of Twenty Thousand and 00/100 Dollars (U.S. $20,000.00) ("Credit Lirnit").
<br />Any party interested in the details related to Lender's continuing obligation to make advances to Borrower is
<br />advised to consult directly with Leuder. If not paid earlier, the sums owing under Borrower's Contract with Lender
<br />will be due and payable on October 15, 2014. This Security Instrument secures to Lender: (a) the repayment of the
<br />debt under the Contract, with interest, including future advances, and all renewals, extensions and modifications of
<br />the Contract; {b) the payment of all other sums, with interest, advanced to protect the security of this Security
<br />Instrument under the provisions of the section tatted Protection of Lender's Rights In the Property; and (c) the
<br />performance of Borrower's covenants and agreements under this Security Instrument and the Contract. Por this
<br />pttrpoae, Borrower, in consideration of the debt and the trust herein created, irrevocably grants and conveys to
<br />'T'rustee, in trust, with power of sale, the following described property located in the COUNTY of HALL, State of
<br />Nebraska:
<br />Address: 4234 HORSEMAN AVE, GRAND ISLAND, Nebraska 68803
<br />Legal Description: LOT TWENTY-ONE (21) LE HEIGHTS FOURTH SUBDIVISION' 1N TAE
<br />CITY OF GRAND ISLAND, AALL COUNTY, NEBRASKA
<br />TOGETHER WITH all the improvements new or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a pert of the property. All replacements and additivna shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this' Security Instrument as the
<br />"Property."
<br />BURROWER COVENANTS that Harrower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances o£ record.
<br />Borrower warrants and will defend generally the title to fire Property against all claims and demands, subject to
<br />any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />Payment of Principal and Interest; Other Charges. Harrower shall promptly pay when due the principal of and
<br />interest on the debt owed under the Contract and late charges or any other fees and charges due under the Contract.
<br />Applicable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />At the request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lion which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br />contests in goad faith the li@n by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to 'prevent the enforcement of the lien; or (c) secures from khe holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender detetxnines that any
<br />A 20M-2009 Complimce 3yatems. Iac. 1 atl2-8A4C • 2009.07.355
<br />Coroumtt~ealEsute-9ecurilyl~gnumenlDL2036 PageloFS wwa.eamptieaceaystpps.cvm
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