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<br />CONSTRUCTION SECURITY AGREEMENT ���
<br />FU'I'URE ADVANCES AND FUTURE OBLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED e�
<br />OF TRUST
<br />Tl�is COMM�RCIAL CONSTRUCTiON REAL �ST'ATE DEF.,i) OF TRUST ("SecuriCy Instn�ment") is made on
<br />�ctober 20, 2010 by th.e grantor(s) John S. Schulte, and Oianne L. Schulte, Hnsband and Wife, whose address
<br />is 3422 S 110"1'H RD, Waod River, Nebraska 68883-0000 ("Grantor"). The trustee is Arend R. Baack, Attorney
<br />whase address is I'.O. Box 790, Crand Island, Nebraska 6$802 ("Trustee"). The beneficiary is Hume Federal
<br />Savings & L�an Association of Grand Island whose address is 221 South Locust Street, Grand Island,
<br />Nebraska 68801 ("Lender"), which is organized and existiiag under Che laws of the United States of America.
<br />Grantor in consideration of loans extended by Lender up to a tnaximum principal amount of "1'wo I�undred
<br />Torty Thousand and 00/10p Dvllars ($240,OOO.UO) ("Maximum Principal lndebtedness"), and for otl�er valuable
<br />consideration, the receipt of which is acknowledged, irrevocably grants, conveys and assigns to Trustee, in tnist,
<br />with power of sale, the following described property located in the County of Hall, Slate of Nebraska:
<br />Address: 610 Sandalwood llrive, GRAND ISLAND, Nebraska 68803
<br />Legal Uescription: I,ot Twenty One (21), Westwood Pack Tenth Spbdivision, in the City of Grand Island,
<br />Hall County, Nebraska
<br />Together with all easements, appurtenances abutting streets and alleys, iznprovements, buildin�s, �xtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever descriptic�n
<br />and all otkier rights and privileges including all ►niz�erals, ail, gas, water (whetlaer groundwater, subterraneaz� or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well pennits, ditches, ditch rights, reservoirs, reservo�r rights, reservoir sites,
<br />storage rights, dams and water stvck that may now, or at any time in the future, be located on and/or used in
<br />connection witli the abave-described real property, payment awards, amounts received from eminent domain,
<br />amoupts received from any and ap insurance pay�nents, and tixnber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />RELATED UOCUMENTS. The wprds "Related Documents" mean all promissory notes, security a�reements,
<br />pripr 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 a�reements executed in connection with this Security Instrument whether now ar hereafter existing.
<br />"�'he Related 1]ocuments are hereby made a part of this Security In�trument by reference thereto, with the same
<br />£arce and eFfect as if fully set forth herein.
<br />INDEBTEDNESS. Tl�is Security Instrument secures the principal amounl showrr above as may be evidenced by a
<br />promissory note or noces of �ven, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now ar hereafter owing frotn Grantor and Dianne I.. Schulte to Lender,
<br />howsoever created c�r arising, whetlier prixnary, secondary or contingent, tagether with any interest or charges
<br />provided in or arising out of such indebtedness, as well a5 the agreemenls and covenants of lhis Security
<br />Instrument and all Related llocuments (hereinafter all referred to as the "Indebtedness").
<br />FUTURE ADVANCES. To the extent permitted by law, 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 frorn time to lime there
<br />tnay be na balance due under the note and regardless of whether Lender is pbligated to make such future advances.
<br />CROSS CO[,LATERALIZATION. It is the expressed intent of Grantor to cross collaceralize all of its
<br />Indebtedness and obligations to Lender, howsoever arising and whensoever incurred.
<br />CQNST'RUCTION LOAN AGR�EMENT. This Security Instrument is made in conjunction with a Coa�struction
<br />Loan Agreement dated the same date as this Security Instrument and is subject to all of the provisions of the
<br />Construction I.,oan Agreement as if those provisions were fully set forth in this security i��struznent and made a part
<br />of it.
<br />WARRANTIES. Grantor, for itself, its l�eirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenatats and agrees with Lender, its successors and assigns, as follows:
<br />Yerformance of Obligations. Grantor promises to perform all terme, conditions, and covenants of this
<br />Security Instru�z�ent and Related Documents in accordance with the terms contained tl�erein.
<br />G? 2004-2010 Cnmplidncc Systcros, Inc F947-FOFA - 20�0.05.365
<br />Commcrcial Conctruction Security Instramrnt - DL4007 Pnge I of 5 www.complinnccsystcros.com
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