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<br />(Space Above This Line 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 D��D OF TkUST ("Security Insirument") is made on Deceraber 2, 2010. The grantor is ILA M BULOW,
<br />A SINGLE PERSON, whose address is 124 PONDEROSA DR, GRAND ISLAND, Nebraska 68803
<br />("Borrower"). Borrower is not necessarily the sarne as the Person or Persons who sign the Contract. The
<br />obligations of Borrawers who did not sign the Contract are explained further in the section titled Successors and
<br />Assigns Bound; Joint and Several Liability; Accommodation 5igners. The trustee is Arend R. Baack,
<br />Attorney whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee"). The beneficiary is Honne
<br />Federal Savings & Loan Association of Grand Island, which is arganized and existing under the laws of the
<br />United States of America and whose address is 221 South Locust Street, Grand Island, Nebraska 68801
<br />("Lender"). ILA M BULOW has entered into a Equity - Line of Credit ("Contract") with Lender as of
<br />December 2, 2010, under the terms of which Borrower may, from time to time, obtain advances not to exceed, at
<br />any time, a***MAXIMUM PRINCIPAL AMOUNT (EXCLUDING PROTECTIVE ADVANCES)*** of
<br />Twenty-five Thousand and 00/100 Dollars (U.S. $25,000.00) ("Credit Limit"). Any party interested in the details
<br />related to Lender's continuing obligation to make advances to Borrower is advised to consult directly with L,ender.
<br />If not paid earlier, the sums owing under Borrower's Contract with Lender will be due and payable on Deeernber
<br />15, 2015. This Security Instrument secures to Lender: (a) the repayment of the debt under the Contract, with
<br />interest, including future advances, and all renewals, extensions and modifications of the Contract; (b) the payment
<br />of all other sums, with interest, advanced to pratect the security of this Security Instrument under the pravisions of
<br />the section titled Proteetion of Lender's Raghts in the Property; and (c) the performance of Borrower's
<br />covenants and agreements under this Security Instrument and the Contract. For this putpose, Borrower, in
<br />consideration of the debt and the trust herein created, irrevocably grants and conveys to Trustee, in trust, with
<br />power of sale, the fpllawing described property located in the COUNTY of HALL, State of Nebraska:
<br />Address: 124 PONDEROSA DR, GRAND ISLAND, Nebraska 68$03
<br />Legal Description: LOT ONE (1) BLOCK ONE (1) PONDEROSA LAKE ESTATES THIRD
<br />SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA,
<br />TOGETHER WITH all the improvennents naw or hereafter erected on the property, and all easements,
<br />appurtenances, and fixtures naw or hereafter a part of the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the faregoing is referred to in this Sscu.rity 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 />Barrower warrants and will defend generally the title to the Property against all claims and demands, subject to
<br />any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />Payment of Principal $nd Tnterest; Other Charges. Barrawer shall promptly pay when due the principal of and
<br />interest on the debt owed under the Contract and late charges or any other fees and charges due under the Contract.
<br />Applicable Law. As used in this 5ecurity Instrunnent, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial apinions.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />At the request of Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Barrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agress in writing to the payment of the abligation secured by the lien in a manner acceptable to Lender; (b)
<br />contasts in goad faith the lien by, or dafends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the snforcement of the lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subardinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />a� 2004-2009 Compliance Syslems, lnc. 002D-F'A6F - 2009.12368
<br />Consumer Real Estate -$ecurily Instrumcot DC.2036
<br />Page 1 of S
<br />www, eampliancesys tems, cam
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