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<br />DEED OF TRUST �
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECiJRED
<br />BY THIS DEED OF TRUST) � �'
<br />THIS DEED OF TRUST ("Security Instrument") is made on February 9, 2011. The grantors are DAVID L
<br />ARNOLD and MARILYN S ARNOLD, HUSBAND AND WIFE, whose address is 1032 S PLUM ' ST,
<br />GRAND 1SLAND, Nebraska 68801-8070 ("Borrower"). Borrower is not necessarily the same as the Person or
<br />Persons who sign the Equity - Line of Credit ("Contract"). The obligations of Bortowers 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"). DAVID L ARNOLD and MARILYN S
<br />ARNOLD have entered into a Contract with Lender as of February 9, 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 Fifteen Thousand and 00/100 Dollars (U.S. $15,000.00)
<br />("Credit Limit"). Any parry interested in the details related to Lender's continuing obligation to make advances to
<br />Borrower is advised to consult directly with Lender. Tf 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 payment 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 />Far 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: 1032 S PLUM ST, GRAND ISLAND, Nebraska 68801-8070
<br />Legal Description: LOT FOURTEEN (14), IN ANDERSON SUBDIVISION, IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA
<br />TOGETHER WITH all Yhe 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 tfie
<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 wari and will defend generally the title to the Property against all ctaims and demands, subject to
<br />any encumbrances of record.
<br />Borrower and Lender covenant and agree as follows:
<br />Payment of Principal and Literest; 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 1oca1 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 shatl pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Securiry Instrument, and leasehold payments or ground rents, �if an3�.
<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 enfarcement of the lien in, legal proceedings whicli 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 alien which may attain priority over this Security Instrument, Lender may give
<br />�'O 2004-2010 Compliance Systems, Inc. EEOB-FA3A - 2010.03.378 �
<br />Consume�� Real Estate - Security Ins[rument DL2036 . � . Page 1 of 5 � . ��vw.compliancesystems.com
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