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<br />DEED OF TRUST
<br />(PREAUTHOR�ZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Security Instiument") is made on December 16, 2010. The grantors are
<br />KATHLEEN I RIPP, whose address is 506 S SAID ST, Cairo, Nebraska 688z4 , and EMIL H RIPP, WIFE
<br />AND HUSBAND, whose address is 506 S SAID ST, Cairo, Nebraska b8824 ("Borrower"). Borrower is not
<br />necessarily the same as the Person or Persons who sign the Contract. The obligations of Borrowers who did not
<br />sign the Contract ars explained further in the section titled Successors and Assigns Bound; Joint and Several
<br />Liability; Accommodation Signers. The trustee is Arend R. Baack, Attorney whose address is P.O. Box 790,
<br />Grand Island, Nebraska 68802 ("Trustee"). The bene�ciary is Home Federal Savings & Loan Associatian of
<br />Grand Island, which is organized and existing under the laws of the United States of America and whose address
<br />is 221 South Locust Street, Grand Island, Nebraska 68801 ("Lender"). KATHL�EN I RIPP has entered into a
<br />Equity - Line of Credit ("Contract") with Lender as of December 16, 2010, under the terms of which Borrower
<br />may, from time to time, obtain advances not to exceed, at any time, a***MAXIMUM FRTNCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Twenty-�ve Thousand and 00/100 Dallars (U.S.
<br />$25,000.00) ("Credit Limit"). Any party interested in the details related to L.ender's continuing obligation to rnake
<br />advances to Borrower is advised to consult directly with I,ender. If not paid earlier, the surns awing under
<br />Borrower's Contract with Lender will be due and payable an November 24, 2015. This Security Instrument
<br />secures to Lender: (a) the repayment of the debt under the Contract, with interest, including future advances, and
<br />all renewals, extensions and modifications of the Contract; (b) the payment of all other sums, with interest,
<br />advanced to protect the security of this Security Inistcument under the provisions of the section titled Protection of
<br />Lender's Rights in the Property; and (c) the perforznance of Borrower's covenants and agreements under this
<br />Security Instrument and the Contract. For this purpose, Borrower, in consideration of the debt and the trust herein
<br />created, irrevocably grants and conveys ta Trustee, in trust, with power of sale, the following described property
<br />located in the COUNTY of HALL, State of Nebraska:
<br />Address: 506 S SAID 5T, Cairo, Nebraska 6$824
<br />Legal Description: LOTS THREE (3) AND FOUR (4), BLOCK THREE (3), 4TH ADDIT�ON TO
<br />THE CITY OF CAIRO, 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 ths property. All replacements and additions shall also be
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
<br />"Property."
<br />BORROWBR COVENAI�ITS 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 and demands, subject to
<br />any encumbrances of record.
<br />Borrower and L.ender covenant and agree as follows:
<br />Payment of Principal and Tnterest; Other Charges. Borrower shall promptly pay when due the principal of and
<br />interest on thc 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 Sscurity Instniment, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and lacal 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, fines and irnpasitions 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 ths payrnents.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Bort'ower: (a)
<br />agrees in writing to the payment 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 />Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of the lien an
<br />agrecment satisfactory to Lender subordinating the Iien 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 Instniment, Lender may givs
<br />@� 2004-2009 Compliance Systema, Inc. 002D-D940 - 2009.12368
<br />Conaumer Rcal Eatate - 5ccurity [nstrumrnt DL2036 Page 1 af 5 www.compliancesystems.com
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