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<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT -FUTURE ADVANCES ARE SECURED
<br />SY THIS DEED OF TRUST)
<br />TH1S DEED OP TRUST ("Security Instrument") is made on .Tune 3, 2010. The grantors are GEORGE T
<br />AYOUB II and JACALYN A AYOUB, HUSBAND AND WIFE, whose address is 2403 W JOHN ST, Grand
<br />Island, Nebraska 68803 ("Borrower"). Borrower is not necessarily the same as the Person or Persons wlto sign the
<br />Contract. The obligations of Borrowers who did not sign the Contract are explained further in the section titled
<br />Successors and Assigns Bound; Joint and Several Liability; Accommodatiou Signers. The trustee is Arend
<br />R. Baack, Attorney whose address is P.O. Box 790, Crand 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 America and whose address is 221 South Locust Street, Grand Island, Nebraska 68801
<br />("Lender"). GEORGE T AYOUB 11 and JACALYN A AYOUB have entered into aEquity -Line of Credit
<br />("Contract") with Lender as of June 3, 2010, under the terms of which Borrower may, from time to time, obtain
<br />advances trot to exceed, at any time, a ***MAXIMUM PRINCIPAL AMOUNT (EXCLUDING
<br />PROTECTIVE ADVANCES)*** of Twenty-two Thousand Five Hundred and 00/100 Dollars (U.S.
<br />$22,500.00) ("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make
<br />advances to Borrower is advised to consult directly with Lender. If not paid earlier, the sums owing under
<br />Borrower's Contract with Lender will be due and payable on June 15, 2015. This Security Instrument secures to
<br />Lender: (a) the repayment of the debt under the Contract, with interest, including future advances, and all
<br />renewals, extensions and modifications of the Contract; (b) the payment of all other sums, with interest, advanced
<br />to protect die security of this Security Instrument under the provisions of the section titled Protection of Lender's
<br />Rights in the Property; and (c) the performance of Borrower's covenants and agreements under this Security
<br />Instrument and the Contract. kor this purpose, Borrower, in consideration of the debt and the trust herein created,
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in
<br />the COUNTY of HALL, State of Nebraska:
<br />Address: 1428 MANSFLELD RD, GRAND ISLAND, Nebraska 68$03
<br />Legal Description: LUT FOURTEEN (14), GRAND WEST" SUBDIVISION IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />TOGETHER WITH all thb improvements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fixh>res 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 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 of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, sul?ject to
<br />any encumbrances of record.
<br />Borrower and Lender covenant and agree as follpws:
<br />Payment of Principal and Interest; Otber Charges. Borrower 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 L,aw" 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 />Lender's opinion operate to prevent the enforcement of die lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />¢? 2004-2U09 Compliance Systems, Inc. U02~-2r8r - 20119.12.368
<br />Consumer Real Estate -Security Insnvmcnt ~L2036 Pagc I of 5 www,complitlnccsystemy,eum
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