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<br />DEED OF TRUST
<br />(P1tEAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST)
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<br />THIS DEED OF TRUST ("Security Instrument") is made on January 5, 2011. The grantors are HOWARD E
<br />FREAR and KRISTENE R FREAR, HUSBAND AND WIFE, whose address is 121 LEISURE LAKE RD,
<br />Doniphan, Nebraska 68832-9708 ("Borrower"). Borrower is not necessarily the same as the Person or Persons
<br />who sign the Equity - Line of Credit ("Contract"). The obligations of Borrowers who did not sign the Contract
<br />are explained further in the section titled Successors and Assigns Bound; Joint and Several Liability;
<br />Accommodation Signers. The trustee is Arend R. Baack, Attorney whose address is P.O. Box 790, Grand
<br />Island, Nebraska 68802 ("Trustee"). The beneficiary is Home Federal Savings & Loan Association of Grand
<br />Island, which is organized and existing under the laws of the United States of America and whose address is 221
<br />South Locust Street, Grand Island, Nebraska 68801 ("Lender"). HOWARD E FREAR and KRISTENE R
<br />FREAR have entered into a Contract with Lender as of January 5, 2011, under the terms of which Borrower may,
<br />from time to time, obtain advances not to exceed, at any time, a***MAXIMUM PRYNCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Twenty-three Thousand and 00/100 Dollars (U.S.
<br />$23,000.00) ("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make
<br />advances to Bonower 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 15, 2016, This Security Instrument secures
<br />to Lender; (a) the repayment of the debt under the Contract, with interest, including future advances, and a11
<br />renewals, extensions and modifications of the Contract; (b) the payxnent of all other sums, with interest, advanced
<br />to protect the security of this Security Instrument under the provisions of the section titled Protection of Lender's
<br />Rights in the Property; and (c) the parformance of Borrower's covenants and agreements under tivs Security
<br />Tnstrument and the Contract. For this purpose, Borrower, in consideration of the debt and the trust herein created,
<br />irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in
<br />the COUNTI' of HALL, State of Nebraska:
<br />Address: 121 LEISURE LAKE RD, Doniphan, Nebraska 68832-9708
<br />Legal Description: LOT ELEVEN (11), IN LEISURE VALLEY LAKE SUBDIVISION IN THE
<br />SOUTHWEST QUARTER (SW 1/4) OF SECTION TWO (2), TOWNSHIP NINE (9) NORTH,
<br />RANGE TEN (10), WEST OF THE 6TH P.M., 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 properly. All replacements and additions sha11 also be
<br />covered by this Security Insmzment. All of the foregoing is referred to in this Security Instrument as the
<br />"Property."
<br />BORROWER COVENAN'fS 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 encuxnbrances 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 />Bonower and Lender covenant and agree as follows:
<br />Payment 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, 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. Bonower shall pay all taxes, assessments, charges, fines and impositaons attributable to the
<br />Property which may attain priority over this Security Instnxment, and leasehold payrnents 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 Inshument unless Borrower: (a)
<br />agrees in writing to the payrnent 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 />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />O 2004-2010 Compliance Sys[ems, Inc. EEOB-E219 - 2010.03.378
<br />Cousumer Reel Estate - Security Instrument DL2036 Page 1 of 5 www.compliaocesystema.com
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