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<br />(Space Above This Linc For Re�ording Data)
<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Securiry Instru,ment") is rnade an September 29, 2010. The grantors are CHAD D
<br />WATSON and HEATHER R WATSON, husband and wife, whnse add:ess is Z022 W 14�H ST, GRAi�1D
<br />ISLAND, iVebraska 68803-3025 ("Borrower"). Borrower is not necessarily the same as the Person or Persons who
<br />sign the Contract. The obligations of Barrowers who did not sign the Contract are explained further in tha section
<br />titled Successors and Assigns Bound; ,IoInt and Several Liability; Accommodation Signers. The trustee is
<br />Arend R. Baaek, Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Tirustee"). The
<br />beneficiary is Home Federal Savings & Loan Association of Garand Island, which is organizad 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"). CHAD D WATSON and HEATHER R WATSON have entered inta a Equity -
<br />Line of Credit ("Conlract") with Lender as of September 29, 2Q10, utxder the terms of which Borrower may, from
<br />time to time, obtain advar►ces not to exceed, at any time, a***MAXIMLTM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Fifteen Thonsand and 00/100 Dollars (U.S. $15,000.00)
<br />("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make advances to
<br />Borrower is advised to consult directly with Lender. If not paid earlier, the sums owing under Borrower's Contract
<br />with Lender will be due and payable an October 15, 2015. This Security Instrument secures to Lender: (a) the
<br />repayment o£the debt under the Contract, with interest, including future advances, and all renewals, extensions and
<br />rnodifications of the Contract; (b) the payment of all other sums, with intersst, advanced to protect the security of
<br />tih.is Security Instrument under the provisions of the section titled Protection of Lender's Rights in the Property;
<br />and (c) the parformance of Borrower's covenants and agreements under this Security Instrument and the Contract.
<br />For this purpose, Borrower, in consideration of the debt and the trust herein created, ux'evocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in the CO[TNTY of
<br />HALL, State ofNebraska:
<br />Address: 2022 W 14TH ST, GRAND ISLAND, Nebraska 68803-3025
<br />Legal Description: LOT TWO HLTNDRED TWENTY-ONE, (221), IN WEST LAWN, AN
<br />ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />TOGETHER WITH all the improvements now ar hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part of the property. All replace:ments and additions shall alsa be
<br />covered by this Security Instnunent. All of the foregoing is referred to in this Security Itastrument as the
<br />"Property."
<br />BORROWER COVENANTS that Borrawer is lawfully seised of the estate hereby conveyed and has the right ta
<br />�;rant and convey the Property and that the Property is unencumbercd, cxcept for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and d�mands, subject to
<br />any encumbrances of record.
<br />Bonower and L.ender cavenant and agree as follaws:
<br />Payment of Principal and Interest; Other 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 Insttument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and adminisvative rules and orders (that have
<br />the ef�ect of law) as well as all applicable �nal, non-appealable judicial apinions.
<br />Charges; Liens. Borrower shall pay all taxes, assessnnents, charges, fines and impositions attributable ta the
<br />Properry which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />At the request of Lender, Borrower shall pramptly furnish to Lender receipts evidencing the payments.
<br />Barrower shall prornptly discharge any lien which has priority aver 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 tha lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />L,ender's opinion operate to prevent the enforcenaent of the lien; or (c) secures fram the holder of the lien an
<br />agreement satisfactory to �.,ender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Froperty is subject to a licn which raay attain priority over this Security Instrument, Lender may give
<br />� 2DD4-2009 Campliance Systems, Inc. 002D-820E - 2009.I2.368
<br />Consumer Real Estate - Security Inetn�ment DL2036 Page 1 of 5 www.complienceaystema.com
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