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<br />LOAN NUMBER: 0100610447
<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT -FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THI5 DEED OF TRUST ("Security Instrument") is made on November 3, 2009. The grantor is DEREK
<br />LEDGERWOOD, husband and wife, and JODI LEDGERWOOD, whose address is 3113 MIDWAY RD,
<br />GRAND LSLAND, Nebraska 68803-2462 ("Borrower"). Borrower is not necessarily the same as the Person or
<br />Persons who sign the Contract. The obligations of Borrowers who did not sign the Contract are explained further
<br />in the section titled Successors and Assigns Bound; Joint and Several Liability; Accommodation Signers. The
<br />trustee is Arend R. Baack, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee").
<br />The beneficiary is Home Federal Savings & Loan Association of Grand Island, which is organized and existing
<br />under the laws of the United States of America and whose address is 221 South Locust Street, Grand Island,
<br />Nebraska 68801 ("Lender"). DEREK LEDGERWUOD and JODI LEDGERWOOD have entered into a
<br />Equity -Line of Credit ("Contract") with Lender as of November 3, 2009, under the terms of which Borrower
<br />may, from time to time, obtain advances not to exceed, at any time, a ***MAXIMUM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Thirty-five Thousand Eight Hundred and 00/100
<br />Dollars (U.S. $35,800.00) ("Credit Limit"). Any party interested in the details related to Lender's continuing
<br />obligation to make advances, to Borrower is advised to consult directly with Lender. If not paid earlier, the sums
<br />owing under Borrower's Contract with Lender will be due and payable on December 15, 2014. 'I'bis Security
<br />Instrument secures to Lender: (a) the repayment of the debt under the Contract, with interest, including future
<br />advances, and all renewals, extensions and modifications of the Contract; (b) the payment of all other sums, with
<br />interest, advanced to protect the security of this Security Instrument under the provisions of the section titled
<br />Protection of Lender's Rights in the Property; and (c) the performance of Borrower's covenants and agreements
<br />under this Security Instrument and the Contract. For this purpose, Borrower, in consideration of the debt and the
<br />trust herein created, irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described
<br />property located in the COUNTY of HALL, State of Nebraska:
<br />Address: 311.3 MIllWAY RD, GRAND ISLAND, Nebraska 68803-2462
<br />Legal Description: LYING AND BEING LOCATED IN THE CITY OF GRAND ISLAND, COUNTY
<br />OF HALL, STATE OF NEBRASKA: ALL THA'T' CERTAIN PARCEL OR TRACT OF LAND
<br />KNOWN AS: LOT ONE (1), BLOCK TWU (2), ISLAND ACRES NUMBER 2, IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions 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 />BORROWER COVENANTS that Borrower is lawfully seised ofthe estate hereby conveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the 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. Borrower shall promptly pay when dne 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 lien 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 good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />@ 2004-2009 Compliw~ce Systems, Inc. 1 BD2-A854 - 2009.07.355
<br />Consumer Real Pstate -Security Instrument DL2036 Page I of 5 www.complianccsystcros.com
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