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<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Security Insttument") is made on December 13, 2010. The grantors are JAMES S
<br />STEVENSON and DIANE L STEVENSON, HUSBAND AND WIFE, whose address is 1800 W
<br />RAINFORTH RD, Doniphan, Nebraska 68832-9639 ("Borrower"). Borrower is not necessarily the same as th�
<br />Person or Persans who sign the Gontract. The obligations of Borrowers who did not sign the Contract are
<br />explained further in the section titled Successors and Assigns Bound; Joint and Several Liability;
<br />Accommodation Signers. The trustee is Arend R. Saack, Attorney whose address is P.O. Box 790, Grand
<br />Island, Nebraska 68802 ("Trustes"). Thc bene�ciary is Home Federal Savings & Loan Associadon af Grand
<br />Island, which is organized and existing under the laws of the United States of America and whose address is 221
<br />Sauth Locust Street, Grand Island, Nebraska 68801 ("Lender"). JAMES B STEVEN50N and DIANE L
<br />STEVENSON have entered into a Equity - Line of Credit ("Contract") with L.ender as of Decem�ber 13, z010,
<br />under the terms of which Bonower may, fram time to time, obtain advances not ta exceed, at any time, a
<br />***MAXIlVIiTM PIiINCIPAL AMUUNT (EXCLUDTNG PROTECTIVE ADVANCES)*** of Fifteen
<br />Thousand and 00/100 Dollars (U.S. $1.5,000.00) ("Credit Limit"). Any party interested in the details related to
<br />Lender's continuing abligation to make advances to Borrower is advised to consult directly with Lender. If not
<br />paid earlier, the sums owing under Sorrower's Contract with Lender will be due and payable on January 15, 2016.
<br />This Security Inst�rurnent secures to Lender: (a) the repayment of the debt under the Contract, with interest,
<br />including future advances, and all renewals, extensions and modifications of the Contract; (b) the payment of all
<br />other sums, with interest, advanced to protect the security of this Security Instr�unent under the provisions of the
<br />sectian titled Protection of Lender's Rights in the Property; and (c) the performance of Borrower's covenants
<br />and agreements under this Security Instrument and the Contract. �'or this purpose, Borrower, in consideration of
<br />the debt and tha trust herein crcated, irrevocably grants and conveys to Trustee, in trust, with power of sale, the
<br />following described property located in the COUNTY of HALL, State of Nebraska:
<br />Address: 1800 W RAINFORTH RD, Doniphan, Nebraska 68832-9639
<br />Legal Description: LOT ONE (1), HOLLISTER SUBDIVISION, HALL COLTNTY, 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 Instruznent. All of the fore�oing is referred to in this Security Instrument as the
<br />"Property."
<br />SORROWER COVENANTS that Borrower is lawfully seised of the estate hereby canveyed and has the right to
<br />grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrowsr warrants and will defend generally the title to the Property against all clauns and demands, subject to
<br />any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />Payment of Principal and Interest; Other Charges. Bonrower shall promptly pay when due the principal of and
<br />interest on the debt owed under the Conlract and late charges or any other fees and charges due under the Contract.
<br />Applieable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules and arders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opuuons.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fmcs and impositions attributable to the
<br />Property which znay attain priority over this Security Instrument, and leasehold payments or ground rents, if any.
<br />At the request of I.ender, 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 />agrees in writing to the payment of the abligation secured by the lien in a tnanner 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 />Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordi.nating 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, I.ender may give
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<br />� 2004-2009 Compliancc Syatoms, Inc. 002U-BD98 - 2D09.12368
<br />Consumer Resl Estate - Seeurity Instrument UL2036 Page I of 5 www.compliancesystema.com
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