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<br /> DEED OF TRUST
<br /> (PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />
<br /> BY THIS DEED OF TRUST) 3 l a
<br /> THIS DEED OF TRUST ("Security Instrument") is made on February 7, 2011. The grantors are MICHAEL
<br /> ERICKSON and LORI B ERICKSON, HUSBAND AND WIFE, whose address is 1619 COVENTRY LN,
<br /> GRAND ISLAND, Nebraska 68801-7025 ("Borrower"). Borrower is not necessarily the same as the Person or
<br /> Persons who 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 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"). MICHAEL ERICKSON and LORI B
<br /> ERICKSON have entered into a Contract with Lender as of February 7, 2011, under the terms of which
<br /> Borrower may, from time to time, obtain advances not to exceed, at any time, a ***MAXIMUM PRINCIPAL
<br /> AMOUNT (EXCLUDING PROTECTIVE ADVANCES)*** of Ten Thousand and 00/100 Dollars (U.S.
<br /> $10,000.00) ("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make
<br /> advances 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 February 15, 2016. 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 Contract; (b) the payment 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 performance of Borrower's covenants and agreements under this Security
<br /> Instrument 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 COUNTY of HALL, State of Nebraska:
<br /> Address: 1619 COVENTRY LN, GRAND ISLAND, Nebraska 68801-7025
<br /> Legal Description: SEE EXHIBIT "A"
<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 Instrument. All of the foregoing is referred to in this Security Instrument 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 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 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. 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 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 /> agreement satisfactory to Lender subordinating 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, Lender may give
<br /> C~ 2004-2010 Compliance Systems, Inc. EEOB-692A - 2010.03.378
<br /> Consumer Real Estate - Security Instrument DL2036 Page I of 5. www.compliancesystems.com
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