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<br />(Spac;e Above This Line For Recording Data) ~~~~~
<br />CONSTRUCTION SECURITY AGREEMENT
<br />FUTURE. ADVANCES AND FUTURE. OBLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED
<br />OF 'I"RUST
<br />This COMMF,RCIAL CONSTRUCTION REAL ESTATE DEF,D OF TRUST ("Security Tnstrument") is made on
<br />February 19, 2010 by the grantor(s) Tommy L Umrnel Sr, A Single Person, whose address is 2423 W Old
<br />Lincoln Hwy, Grand Island, Nebraska 68803 ("Grantor"). The trustee is TierOne Bank whose address is 1235
<br />'N' St / P.O. Box 83009, Lincoln, Nebraska 68501 ("Trustee"), The beneficiary is TierOne Bank whose address
<br />is PO Bax 5018 / 700 N Webb RD, Grand Island, Nebraska 68802-5018 ("Lender"), which is organized and
<br />existing under the laws of the United States of America. Grantor in consideration of loans extended by Lender up
<br />to a maximum principal amount of Fifty Thousand and 00/100 Dollars ($50,000.00) ("Maximum Principal
<br />Indebtedness"), and for other valuable consideration, the receipt of which is acknowledged, irrevocably grants,
<br />conveys and assigns to Trustee, in trust, with power of sale, the following described property located in the
<br />Couuty of Hall, State of Nebraska;
<br />Address: 136 N Carey, Grand Island, Nebraska 68803
<br />Legal Description: L,ot Five (5), Block Thirty Fight (38), in Packer and $arr's Second Addition to the City
<br />of Grand Island, Hall County, Nebraska
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditamenis, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in
<br />connection with the above-described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />RELATED DOCUMENTS. The words "Related Documents" mean all pratnissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents arc hereby made a part of this Security Instrument by reference thereto, with the same
<br />fierce and effect as if fitl ly set forth herein.
<br />INDEBTEDNESS. This Security Tnstrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Grantor to Lender, howsoever created or arising,
<br />whether primary, secondary or contingent, together with any interest or charges provided in or arising out of such
<br />indebtedness, as well as the agreements and covenants of this Security Instrument and all Related Documents
<br />(hereinafter all referred to as the "Tndebtedness").
<br />FUTURE ADVANCI±S. To the extent permitted bylaw, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />maybe no balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />CONSTRUCTION LOAN AGREEMENT. This Security Instrument is made in conjunction with a Construction
<br />Loan Agreement dated the same date as this Security Instrument and is subject to all of the provisions of the
<br />Construction Loan Agreement as if those provisions were fully set forth in this security Instrument and made a part
<br />of it.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />Performance of Obligations. Grantor promises to perform all terms, conditions, and covenants of this
<br />Security Instrument and Related Documents in accordance with the terms contained therein.
<br />~ 20(14-2009 Cumplinnce Systems, Inc. P'CEE-9EE6 - 20(19,12.339
<br />Commercial Cmistructimr Security Inntrumcnt • DL4007 Pt.gc I of'S www,cnmplianccsysrems.com
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