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<br />(Space Abuve This Line Fqr Reco�ding Data)
<br />llI+:ED QF "TRUST
<br />(PItEAUTIIORIZED (QPEN ENll) CREDIT - FUTURE ADVANCFS ARE SECURED
<br />BY TII1S UEFD OF'I"RUST)
<br />'.CHIS DEED OF TRUST ("Securiky Itistrument") is made on .I�nuary G, 2011. The grantors are DAV11) k;
<br />GEItLACH and 1'A'1'RiCIA A C.F;RI.,ACIi, H[1SBAND AND WIF+H;, whose address is 11U8 E
<br />OKLAHOMA AVE, GRANU ISLAND, Nebraska 68801 ("Barr�wer"). Borrower is not.z�ecessarily the same as
<br />the Yers�n or Persons who sign tlie �qi�ity - I.�ine of Credit ("C'ontract"). T'he obligation� of' Borrowcrs who did
<br />not sign the Contr�ct az�e expl�ined fiirther iii lhe sectio�l titled Successurs tu�c! Assigns I3ound; Joiut and
<br />Several Liability; Aceommodation Signers. The trustee is Arend R. Baxek, Attorney whose address is P.O.
<br />Box 790, (�rand Island, Nebraska 68802 ("'1'custee"). The beneficiary is lionie Feder:�l Savings & Laan
<br />Assnciatio�� of (Grand Island, which is orgaiiized and existing under the laws of the United States of Americ�► and
<br />wliose addres5 is 221 South Locust Street, Gra�id Island, NebraGka b8$U1 ("Lender"). UAVIU F(�ERLACII
<br />and k'A'1'1tICIA A GERLACH l�ave entered intc� a Coa�tract witti Lender as of Janaary 6, 2U11, i�nder the tez
<br />c>f which F3orrower may, lrom time to tinie, obtain advances taot to exceed, at any time, a***MAXIMl111'1
<br />PRINCIPAL AMOUNT (EXCLIJI)INC P.I.tO'I'ECTIVE AUVANCES)*** al� Twenty-one '.1't�ousand fincl
<br />00/lUU Dollars (U.S. $21,000.00) ("Credit Limit"). Aray party interested in the details related to Lender'G
<br />continuing obligatiozz to zxa�ke acivanccs to }3orrower is advised to consult directly witli Lendcr. [f not paicl e�rlier,
<br />the su�i�s owing under Borrower's Contract with Lender wilt be due and payable c�n .lanuary 15, 201C. 't'his
<br />Security Instru►nent secures io Lender: (a) the repayn�ent oi' tlie dcbt under the Co��tracC wilh interest including
<br />future adv�nces, and all renewals, extensions and madifications of ttie Contract; (U) the payment of all othcr sums,
<br />willt interest, advanced to protect tlie security nf this Security Instrutnent under the l:�rovisions af the section tit.led
<br />Protection of Le�ader's I.�iglits in the Property; and (c) the performance of I3nrrower's covenants and a�reemez�ts
<br />under thiti Securiky [nstruttient and the Ccmtract, I�or tliis purpase, Bc�rrower, in cox�sideration of'thc deht and tl�e
<br />trusl lierein created, irrevocably granls and �anveyti to `I'rustee, ii� trust, with power of sale, the �ollowing dcscribed
<br />property located izi the COUNTY oCIIALL, State of Nebraska:
<br />Address: 1.t08 � OKLAIIt)MA AVE, (.;RAND ISLANll, Nebraska G8801
<br />Legal Description: LQT 'I'HR.E� (3), VALLEY VIEW THlltll SUBll1V1SION, IN THF CI`I"X C)l�
<br />CRAN.D ISLAND, IIALL COUN'1'Y, NEBRAS.KA
<br />`I'OGETHER WITII all the improvements now or hereafter erected on thc property, and �1.1 e�seinents,
<br />�ppurtenarices, and fixtures now or laereafter z part of the prc>perty. All replacemer�ts and additions �hall alsc� be
<br />c<�vered by t}�is Security Instrumeiit. All of the foregoing is referred Ca in tliis Security Listrument as the
<br />"Property."
<br />BOR�.OWE;}� C:OVENAN'I'S that Borrower is lawfully seised of the estate hereby coz�veyed and has the riglit to
<br />grant and convey the Pr�perty and that tl�e Yroperty is unencumbered, except for encuntbrances of record.
<br />I3orrower warra�its and will defend generally tlie title to the Properly against all claims and demands, subject to
<br />any encumbranceti of record.
<br />Borrower and Lender covenant and a�ree �s fi>Ilows:
<br />P�►yment of Princip�►1 nnd Interest; OthCr Char�es. Borrower shall �rpm�tly p�ty when due tihe princi��al of and
<br />ir�terest on tlie debt owed uc�der tlie Contrzct atid late charges or any other fees ai�d cl�arges due urider ilae Coa�tY�act.
<br />Applicable Law. As used in thiti Security Inslrument, the ternl "Applicable Law" sha1T mean all controlling
<br />applicable fecieral, staCe and local st�tutes, re�ulatiox�s, ordinances ax�d administrative rules and orders (that havc
<br />t1�e effect of law) as well as all a�plicable �nal, non-appealable judicial opinioizs.
<br />Claarges; I.�iea�s .E3orrc�wer shall pay all taxes, assessments, charges, liiies �nd itnpositions attributahle to the
<br />Pro��rty wliich rnay actain priority over tl�is Security Inst►urT�ent, and leasehold pay►rients or grouiid rents, if any.
<br />At lhe request of Lender, 13orrower sl�all promptly liirnish to Lender receipts evidencing the payments.
<br />Borrower sliall proYtiptly discharge any lien whicli has priorily over tliis Security .Iaastruztient unless l3orrc�wer: (a)
<br />agrees in writin� to tlie payment of the obligation secured by tlae lien in a manner acceptable to Leiider; (b)
<br />contests in good faith the lier� by, or defends �gainst enf'orcement of tlie lieia ix�, legal proceeding5 which in the
<br />Lender's opii�iota operate tc� prevent tlie enforcerY�ent of die lier�; or (c) s�cures from the liolder of the lien an
<br />agreernent satisf�ctory to Lender subordix�ating the licn to tliis Security Instruxnent. If (.ender detccmines that any
<br />part af lhe I'roperty is subject to a lien which may attaiz� priority over this Security Instn�ment, I,ender may give
<br />ci 200�-2010 Compl;,mce Sysle�ns. Inc. HHOH-bR7G - 2010.Oi.i78 �
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