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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 16, 2011. The grantors are JOSEPH J
<br />VAVRICEK and JANET R VAVRICEK, husband and wife, whose address is 2729 BRENTWOOD BLVD,
<br />GRAND ISLAND, Nebraska 68801-7272 ("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"). JOSEPH J VAVRICEK and JANET R
<br />VAVRICEK have entered into a Contract with Lender as of February 16, 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 Forty Thousand and 00/100 Dollars (U:S.
<br />$40,000.00) ("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 Securiry 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 payment of ali other sums, with interest, advanced
<br />to protect the securiry 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: 2729 BRENTWOOD BLVD, GRAND ISLAND, Nebraska 68801-7272
<br />Legal Description: LOT TWENTY-FOUR (24) IN BRENTWOOD THIRD SUBDIVISION IN THE
<br />CTTY OF GRAND ISLAND, HALL COUNTY, 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 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 />Paymeut 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 ihe 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 arders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />Charges; Liens. Borrower shall pa}r all taxes, assessments, charges, fines and impositions attributable to the
<br />Properfy 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 af the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give
<br />C� 2004-2010 Compliance Systems, Ina EEOB-088E - 2010.03378 �
<br />Consumer Real Estate - Security lnstrument DL2036 �. Page t of 5�. � . � � .. www.compliancesystems.com
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