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<br />DEED OF TRUST
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<br />(PREAUTHORIZED (OPEN END) CREDI'T - FUTURE ADVANCES ARE SECURED
<br />BY TH1S DEED OF TRUST)
<br />THIS DEED OF TRU3T ("Security Instrument") is made on November 17, 2010. 'f'he grantors are �RADL�Y
<br />C MORSE and ANNE'l"1'� D MQRS�, HUSBAND AND WIFE, whose address is 523'W HWY 34, GRAND
<br />1SLAND, Nebraska 68801 ("�orrower"). Borrower is not necessarily the same as the Yerson or Persvns who si�n
<br />the Contract. The qbligations of Borrqwers who did not si�n the Contract are explained further in the section titled
<br />Successors and Assigns Bpund; Joint And Several Liability; Acco�nmodation Signers: Tl�e, trusCee iti Arend
<br />R. Baack, Attarney wl�ose address is P.O. Box 79U, Grand lsland, Nebraska 68802 ("Truste�"). The bec�eficiary
<br />is IIome Federal Savings & Lpan Association of Cara��d Island, which is organized and existing under lhe laws
<br />of the United States of America and whose a.ddress is 221 Sa��th Locust Street, Crand Island; Nehraskz 68801
<br />("Lender"). BRADLEY C MORSE and ANNF'I"1'E D MORSF have entered into a Eqirity - Line of Credit
<br />("Contract") with Lender as of November l7, 2010, under the terms of wkaich Borrower may, from time to time,
<br />obtain advances not to exceed, at any time, a***MAXIMUM PRINCIPAL AMOUNT (EXCI,UDING
<br />PROTECTIV� ADVANCES)*** of'Cwenty Thousand and UO/100 Dollars (U.S. $20,OOO.UO) ("Credit Limit").
<br />Any party interested in the details related to Lender's continuing obligation to xnake advances to I3orrower is
<br />advised to consult directly with Lender. If not paid earlier, tlie sums owing under Borrower'S Contract with Lender
<br />will be due and payable on Dece�atber 15, 2U15. This Security InstrumenC secures to l.,ender: (a) the repay��ient of
<br />the debt under tl�e Contract, with interest, including future advances, and all renewals, exterisions and
<br />inodi�cations of the Contract; (b) lhe payment of all other sums, w"►th interest, advanced to protect t}.ie securily of
<br />this Security Instrumenl under tkxe provisions of the section titled Protection of Lender's Rigl►ts in the Yroperty;
<br />and (c) the performance of Borrower's covenaxits �nd agreements under t}ais Security Instrument and tl�e Contract.
<br />For this purpas�, F3orrower, in consideratian of the debt and lhe trust herein created, irrevocably grants and
<br />conveys to 'Trustee, in trust, with power of sale, the lollowing described property located in the COUNTY of
<br />HALL, State of Nebraska:
<br />Address: S23 W IIWY 34, GRAND ISI.,AND, Nebraska 68$'Ol
<br />Legal Descriptioi�: SEE, ATTACIIED EX��IBIT "A" FUR LEGAL DESCRIPTIf)N
<br />'I�OGETHER WITH all the i�nprovements now or hereafter erected on die property, and all easements,
<br />appurtenances, and fixtures now or hereafter a part' of the property. All replacements and. additions shall also b�
<br />covered by this Security lnstrument. All of the foregoiz�g is referred to in this 5ecurity Instrume��t 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 atxd demazids; subject to
<br />any encunabrances ofrecord.
<br />Bc7rrower and Lender covenant and agree as follows:
<br />Payment of Principal and Interest; Other Charges. Borrow�r shall promptly pay when due the principal of and
<br />interest on the debt awed under the Contract and late charges or any okher fees and charges due under the Contract.
<br />Applicable Law, As used in this Security Instrument, tlae ter�i� "Applicable 1.,aw" slial] zneari all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and oraers (that have
<br />the effect of law) as well as all applicable iinal, non-appealable judicial opinions.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property wlaich �xzay attain priority over this Security Instrument, and leasehold payments or �round rents, if any.
<br />At the request of Lender, Borrower shall promptly furnish to Lender receipts evideneing the payments.
<br />Borrower shall promptly discharge any lien which has priority over tliis Security Instrumenti unless Borrower: (a)
<br />agrees in writing to the payznent of ttze obli�ation secured by the lien in a manner acceptable to l,ender; (b)
<br />contests in good faitl� the lien by, or defends against enforcement of the lien in, legal proceedin�s whicl� in the
<br />Lender's opinio�7 operate to prevent the enforcement of the lien; or (c) secures £rom the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Secturity l��strunr►ent. [f l..ender deterznines that any
<br />part of the Property is subject to a lien which may attain priority over this Securily Instrumenc, Lender may give
<br />C.12004-:009 Cumplinnce Systems, Inc. nU2n-F39FA - 2pny.I2.36R
<br />Cnnsuute�� Refll �sinte - tincurily Insirument UL203(i Page I nf 5
<br />www, c omplixncesystcros. cnm
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