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<br />DEED OF TRUST
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUST) �
<br />THIS DEED OF TRUST ("Security Instrument") is made on February 10, 2011. The grantors are LINDA F 2S
<br />ADDISON and LARRY G ADDISON, wife and husband, whose address is 834 E DELAWARE AVE,
<br />GRAND ISLAND, Nebraska 68801 ("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 Liabilify;
<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 arganized 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"). LINDA E ADDISON and LARRY G
<br />ADDISON have entered into a Contract with Lender as of February 10, 2011, under the terms of which Borrower
<br />may, from time to time, obtain advances not to exceed, at any time, a***MAXIMUM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCES)*** of Ten Thousand and 00/100 Dollars (U.S. $10,000.00)
<br />("Credit Limit"). Any party interested in the details related to Lender's continuing obligation to make advances to
<br />Borrower is advised to consult directly with Lender. If not paid earlier, the sums owing under Borrower's Contract
<br />with Lender will be due and payable on February 15, 2016. This Security Instrument secures to Lender: (a) the
<br />repayment of the debt under the Contract, with interest, including future advances, and all renewals, extensions and
<br />modifications of the Contract; (b) the payrnent of all other sums, with interest, advanced to protect the security of
<br />this Security Instrument under the provisions of the section titled Protection of Lender's Rights in the Property;
<br />and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Contract.
<br />For this purpose, Borrower, in consideration of the debt and the trust herein created, irrevocably grants and
<br />conveys to Trustee; in trust, with power of sale, the following described property located in the COUNTY of
<br />HALL, State of Nebraska:
<br />Address: 834 E DELAWARE AVE; GRAND ISLAND,Nebraska 68801
<br />Legal Description: THE NORTH SIXTY-SIX (66) FEET OF LOT ONE (1), BLOCK ELEVEN (11)
<br />IN CLAUSSEN COUNTRY VIEW ADDITION IN THE CITY OF GRAND ISLAND, AALL
<br />COUNTY, NEBRASKA
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<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 1he estate hereby conveyed and has the right to
<br />grant and convey the Properfy'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 deniands, 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, regulatioris, 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 attributabfe 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 L,ender, 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 Lend'er; (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 L,ender subordinating the lien to this Security Instrument. If Lender determines that any
<br />C� 2004-2010 Compliance Systems, Inc. EE08-90E2 - 2010.03.378
<br />Consumer Real Estate - Security Instmment DL2036� �. � . . � Page 1 of 5� . www.complianeesystems.com
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