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<br />DEED OF TRUST � cxATTEL MORTGAGE )
<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUS'I�
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<br />THIS DEED OF TRUST ("Security Instrument") is made on May 26, 2011. The grantors are JEFFREY R
<br />GAREY and TERESA I GAREY, HUSBAND AND WIFE, whose address is 30 KUESTER LAKE, GRAND
<br />ISLAND, Nebraska 68801-8609 ("Bonower"). Bonower is not necessarily the same as the Person or Persons who
<br />sign the Equity - Line of Credit ("Coutract"). The obligations of Borrowers who did not sign the Contract are �
<br />explained fiuther in the section tifled Successors and Assigns Bound; Joint and Several Liability; ���
<br />Accommodation Signers. The trustee is Arend R Baack, Attorney whose address is P.O. Bog 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"). JEFFREY R GAREY and TERESA I
<br />GAREY have entered into a Contract with Lender as of May 26, 2011, under the terms of which Borrower may,
<br />from time to time, obtain advances not to exceed, at any time, a***MAI�II117LJM 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 June 15, 2016. This Security Instrument secures to Lender: (a) the
<br />repayment of the debt under the Contract, with interest, including fuhue 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 />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: 30 KUESTER LAKE, GRAND ISLAND, Nebraska 68801-8609
<br />Legal Description: LOT FOUR (4), HAVING A LAKE FRONT FOOTAGE OF 50 FEET AND
<br />SITUATED ON THE EAST SIDE OF THE EAST PORTION OF KUESTER LAKE, AND BEING
<br />ON A PART OF THE EAST HALF OF THE SOUTHWEST QUARTER (El/25W1/4) IN SECTION
<br />THIRTEEN (13), TOWNSHIP ELEVEN (11) NORTH, RANGE NINE (9), WE5T OF THE 6TH
<br />P.M., IN 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 5ecurity 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 general�y the title to the Properiy against all claims and demands, subject to
<br />any encumbrances of record.
<br />Borrower and I,ender 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 conlrolling
<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 5ecurity Instrument, and leasehold payments or ground rents, if any.
<br />At the request of Lender, Bonower 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 />� 2004-2010 Compliance Syatems, Inc. EEO&67FI - 2010.03.378
<br />Coasumer Real Estate - Security Instrument DL.2036 Pege � of 5 www.compliancesystems.com
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