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<br />(Space Above This Line For Recording Data)
<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURL�' ADVANCES ARE SECURED
<br />BY THIS DEED OF TRU�T)
<br />THIS DEED OF TRUST ("Security Instrument") is made on October 1, 2010. The grantors are CALVIN E
<br />SMTTH and JEANET�� 51�::TI3, HI75EAND �'vG WIFE, whase address is 7U3 WEST 15TH STREET,
<br />GRAND ISLAND, Nebraska 68803 ("Borrower"). Borrower is not necessarily the same as the Person or Persons
<br />who sign the Contract. The obligations of Sorrowers who did not sign t�a;e Contract are explained further in the
<br />section titled Successors and Assigns Bound; Joint and Several Liability; Accomntodation Signers. The
<br />txustee is Arend R. Baa:.k, �Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee").
<br />The beneficiary is Home Federal $avings & Loan Association of Grand Island, which is organized and existing
<br />under the laws af the United States of America and whose address is 221 South Locust Street, Grand Island,
<br />Nebraska G8801 ("Lender"). CALVIN E SMITH and JEANETTE SMI�'H have entered into a Equity - Line
<br />of Credit ("Contract") with L.ender as of October 1, 2010, under the terms of which Borrower rnay, from time to
<br />time, abtain advances not to exceed, at any time, a***MAXIMUM PRINCIPAL A,MOUNT (EXCLUDING
<br />PROTECTNE ADVANCES)*** of Fourteen Thousand and 00/1Q0 Dollars (U.S. $14,000.00) ("Credit
<br />Limit"). Any party interested in the details related ta Lender's continuing obligation to make advances to Boan'ower
<br />is advised ta consult directly witta. Lender. If not paid earlier, the sums owing under Borrower's Contract with
<br />Lender will be due and payable on October 1S, 2015. This Security Instrument secures to Lender: (a) the
<br />repayment of the debt under the Contract, with interest, including future advances, and all renewals, extensions and
<br />modi�cations of the Contract; (b) the payment of all other sums, with interest, advanc�d to protect the security of
<br />this Security Instrument under the provisions of the section titled Protection of Lender's Rights in the Property;
<br />and (c) the performance of Borrowe�'s covenants and agreements under this Security �nstrument and the Contract.
<br />For this purpose, Borrower, in consideration of the debt and the trust herein created, urevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in the COiTNTY of
<br />HALL, State of Nebraska:
<br />Address: 7p3 WEST 15TH STREET, GRAND ISLAND, Nebraska bS803
<br />Legal Description: LOT ONE (1) IN BLOCK THIRTEEN (13) TN 5CHIlVIlI7ERS ADDITION TO
<br />THE CITY OF 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 Instiument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property."
<br />BORROWER COVENAN"1'S 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 encutnbrances af record.
<br />Borxower warrants and will defend generally the title to the Froperty against all claims and demands, subject ta
<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 due the principal of and
<br />int�rest on the debt owed under the Contract and late charges or aany other fees and charges due under the Contract.
<br />Applicable Law. As used in this Security Instivment, the tertz� "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, fnes and impositions attributable to the
<br />Property which may attain prioriry over this Security Instrument, and leasehold payments or grownd rents, if any.
<br />At the request of Lender, Borrower shall promptly furnish to I.ender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Secua'ity Instrument unless Borrower: (a)
<br />agrees in wxiting ta the payrnent 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 />I,ender's apizuon operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to T,ender subordinatiz�� the lien to this Security Instxument. If Lender determines that any
<br />part of the Propexty is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />� 2004-2009 Complimce Systems, Inc. 002D-E9F8 - 2009.12.368
<br />Cansumer Reel Eatate - Security lushvment DL2036 Psae 1 of5 www.compl#snceeyetema.com
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