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<br />rim aTION RECaUESTEp BY:
<br />N ~ Ne Federal Credit Union
<br />m ~.. State St. PO Box 1508 A
<br />Island, NE 68802-1508 ~
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<br />Ne Federal Credit Union
<br />. State St. PO Box 1508
<br />Island, NE 6$802-1508
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<br />SPACE ABOVE THIS LINE IS FbR RECQRpERS USE ONLY
<br />'I REVOLVING CREDIT DEED OF TRUST ~?~'
<br />~" pF ~
<br />AMQUNT pF PRINCIPAL INDEBTEDNE5S: S 50, 000.00
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<br />THIS DEED pF TRUST iS DATED 10-6-09 ,among
<br />Randall J. and Dorothy E. Phi ps, Husband & Wife
<br />whose address Is 4036 Re>;al Drive Grand Tsland~, NE _68803 __
<br />(referred to below as "Grantor"); NAFCp NE Federal Credit Union, whose address is 2115 'W. State ~St. PO Box 1508 Grand
<br />Island, NE 68802-150~referred to below sometimes as "Lender" and sometimes as "Beneficiary"), a edrporatlon organized and existing
<br />under the laws of Nebraska ~ and
<br />Ronald De ue Attorne _
<br />- _. _ p ~ Y , whdae address is
<br />PO Box 460 Grand Island, NE 68802 (referred to below as -Trustee").
<br />1. CpNVEYANCE AND GRANT. For valuable consideration, Grantor conveys to Trustee in trust, WITH PQWER OF SALE, far the benefit of
<br />Lender as Beneficiary, all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently
<br />erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights
<br />(including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real property, including without limitation
<br />any rights Granior later acquires in the fee simple title to the land, subject to a Lease, if any, and all minerals, oil, gas, geothermal and similar matters,
<br />located In Hall ,State of Nebraska (the "Real Property"):
<br />Lot 12, Castle Estates Subdivision, in the City of
<br />Grand Island, Hall County, Nebraska
<br />The Real Property or its address is commonly known as
<br />4036 Regal Drive Grand Island ,NE, 68803
<br />Grantor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and interest in and to all present and
<br />future leases of the Property,
<br />2. DEFINITIpNS. The fallowing words shall have the following meanings when used in this Deed a( Trust. Terms nol otherwise defined in this Deed
<br />of Trust shall have the meanings attributed to such terms in the Nebraska Uniform Commercial Gode.
<br />Beneflclary. The word "Beneficiary" means NAFGO NE Federal Credit Union, its successors and assigns. NAFCq NE Federal Gredit Union also
<br />is referred tp as "Lender" in this peed of Trust.
<br />Borrower. The word "Borrower' means each and every person who signs the LOANLINER® Home Equity Plan Credit Agreement secured by this
<br />Deed of Trust.
<br />Credli Agreement. The words "Credit Agreement" mean the revolving Credit agreement dated 10-6-09 , with a aredlt limit
<br />in the amount of ~ 50,000.00 between Grantor and Lender, together with all renewals, extensions,
<br />modifications, refinancings, and substitutions for the Credit Agreement. The tr~tu~ty~~t2e4ot this Deed of Trust, which is the dale by which all
<br />Indebtedness under the Gredit Agreement and this Deed of Trust is due is 1 V NOTICE TO GRANTOR: THE CREDIT
<br />AGREEMENT CONTAINS A VARIABLE INTEREST RATE.
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