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<br />(5pace Above'This Line For Recording Data)
<br />DEED OF TRUST
<br />�
<br />(PREAUTHORIZED (OPEN END) CitEDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
<br />THIS DEED OF TRUST ("Security Instrument") is made on December 23, 2q10. The grantors are DAVID L
<br />SCHUETT and TAMARA J SCHUETT, HUSBAND AND WIFE, whose address is 3801 E AII7PORT RD,
<br />GRAND ISLAND, Nebraska 68$O1-9214 ("Borrawer"). Borrower is not necessarily the same as the Person or
<br />Persans wha sign the Equity - Line of Credit ("Contract"). The obligations of Borrowers who did not sign the
<br />Contract are explained further in the section titled Successors and Assigns Bound; Joint and Several Liability;
<br />Accommodation Signers. The tcvstee is Arend R. Baack, Attorney whose address is P.d. Box 790, Grand
<br />Island, Nebraska 688U2 ("Trustee"). The beneficiary is Home Federal Savings & Loan Associatian af Grand
<br />Island, which is organized and existing under the laws of the United States of America and whose address is z21
<br />South Locust Street, Grand Island, Nebraska 68801 ("Lender"). DAVID L SCHUETT and TAMARA J
<br />SCHUETT have entered into a Contract with Lender as of December 23, 2010, under the terms of which
<br />Borrower may, from time to time, obtain advances not to exceed, at any time, a***MAXIMiJM PRINCTPAL
<br />AMOUNT (EXCLUDING PROTEGTIVE ADVANCES)*** of Five Thousand and 00/100 Dollars (U.S.
<br />$S,OQU.00) ("Credit Limit"). Any party interested in the details related to L.ender's continuing abligation to make
<br />advataces to Borrower is advised to consult directly with Lender. If not paid earlier, the sums owing under
<br />Borrower's Contract with Lender will be due and payable on January ]5, 201b. This Security Instrument secures
<br />to Lender: (a) the repayment of the debt under the Contract, with interest, including future advances, and all
<br />renewals, extensions and modifications of the Contraet; (b) the paytnent af all other sums, with interest, advanced
<br />ta prptect the security of this Security Tnstrument under the provisions of the section titled Protection of Lender's
<br />Rights in the Property; and (c) the performance of Borrower's covenants and agreenients under this Secur;ity
<br />Instrument and the Contract. For this purpose, Borrower, in consideration of the debt and the irust herein created,
<br />irrevocably grants and convcys t� Tru�tee, in Urust, with powar of sale, the foll��ving dcscribed property located in
<br />the CUUNTY of HALL, State of Nebraska:
<br />Address: 3801 E AIRPORT RD, GRAND ISLAND, Nebraska 6$801-9214
<br />Legal Description: LOT ON� (1) OF PFEIFENHOF SCHUETT SUBDIVISION, ACCORDING '�O
<br />THE PLAT RECORDED APRIL 24, 2003, AS INSTRUMEN�' #2003-05063, RECORD5 OF HAI�L
<br />COUNTY,NEBRASKA
<br />TOGETHER WITH all the itnprovements now or hereafter erected on the property, and all easements,
<br />appurtenances, and fvctures now or hereafter a part af the property. All replacements and additions shall also be
<br />covered by this Security Instrument. All af the foregoing is referred to in this Security Instnunent 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 unencurnbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all clairns and derr►ands, subject to
<br />any encuambrances of record.
<br />Borrower and Lender cavenant and agree as follows:
<br />P�yment of Principal and Interest; Other Charges. Borrower 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 Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ardinances and administrative rules and orders (that have
<br />the effect af law) as well as all applicabla final, non-appealable judicial opinions.
<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 />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing ta the payment of the obligation secured by thc lien in a manner acceptable to Lender; (b)
<br />contests in good faith the lien by, or defends against enforeement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcernent of the lien; or (c) secures from the hvlder of the lien an
<br />agreemant satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />a.'r 2004-2010 Campliance Systems, )nc. EEOB-SCPA - 2010.D3.378
<br />Consumer Real Estflte - Security lnstrumcut DL2036 Page I of 5 www.complianCesystems.cum
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