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<br />CONSTRUCTION SECURITY AGREEMENT 5 �
<br />FUTURE ADVANCES AND FUTURE OBLIGATIONS ARE SECURED BY THIS REAL ESTATE DEED
<br />OF TRUST
<br />This COMMERCIAI, CONSTRUCTION REAL ESTATE DEED OF TRUST ("Security Instrument") is made on
<br />July 15, 2011 by the grantor(s) John S. Schulte, and Dianne L. Schulte, Husband and Wife, whose address is
<br />3422 S 110TH RD, Wood River, Nebraska 68883-0000 ("Grantor"). The trustee is Arend R. Baack, Attorney
<br />whose address is P.O. Box 790, Grand Island, Nebraska 68802 ("Trustee"). The beneficiary is Home Federal
<br />Savings & Loan Association of Grand Island whose address is 221 South Locust Street, Grand Island,
<br />Nebraska 68801 ("Lender"), which is organized and existing under the laws of the United States af America.
<br />Grantor in consideration of loans extended by Lender up to a maximum principal amount of Two Hundred
<br />Fifty Thousand and 00/100 Dollars ($250,000.00) ("Maximum Principal Indebtedness"), and for other valuable
<br />consideration, the receipt of w}uch is acknowledged, irrevocably grants, conveys and assigns to Trustee, in trust,
<br />with power of sale, the following described property located in the County of Hall, State of Nebraska:
<br />Address: 4145 Fleetwood Rd, GRAND ISLAND, Nebraska 68803
<br />Legal Description: Lot Five (5), Westwood Park Tenth Subdivision, in the City of Grand Island, Hall
<br />County, Nebraska
<br />Together with all easements, appurtenances abutting streets and alleys, improvements, buildings, fixtures,
<br />tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description
<br />and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subtenanean or
<br />otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-
<br />described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites,
<br />storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in
<br />connection with the above-described real property, payment awards, amounts received from eminent domain,
<br />amounts received from any and all insurance payments, and timber which may now or later be located, situated, or
<br />affixed on and used in connection therewith (hereinafter called the "Property").
<br />This is a PURCHASE MONEY DEED OF TRUST.
<br />RELATED DOCUMENTS. The words "Related Documents" mean all promissory notes, security agreements,
<br />prior mortgages, prior deeds of trust, business loan agreements, construction loan agreements, resolutions,
<br />guaranties, environmental agreements, subordination agreements, assignments of leases and rents and any other
<br />documents or agreements executed in connection with this Security Instrument whether now or hereafter existing.
<br />The Related Documents are hereby made a part of this 5ecurity Instrument by reference thereto, with the same
<br />force and effect as if fully set forth herein.
<br />INDEBTEDNESS. This Security Instrument secures the principal amount shown above as may be evidenced by a
<br />promissory note or notes of even, prior or subsequent date hereto, including future advances and every other
<br />indebtedness of any and every kind now or hereafter owing from Grantor and Dianne L. Schulte to Lender,
<br />howsoever created or arising, whether primary, secondary or contingent, together with any interest or charges
<br />provided in or arising out of such indebtedness, as well as the agreements and covenants of this Security
<br />Instrument and all Related Documents (hereinafter all referred to as the "Indebtedness").
<br />FUTURE ADVANCES. To the extent pernutted by law, this Security Instrument will secure future advances as if
<br />such advances were made on the date of this Security Instrument regardless of the fact that from time to time there
<br />may be no balance due under the note and regardless of whether Lender is obligated to make such future advances.
<br />CROSS COLLATERALIZATION. It is the expressed intent of Grantor to cross collateralize all of its
<br />[ndebtedness and obligarions to Lender, howsoever arising and whensoever incurred.
<br />CONSTRUCTION LOAN AGREEMENT. This Security Instrument is made in conjunction with a Construction
<br />Loan Agreement dated the same date as this Security Instrument and is subject to all of the provisions of the
<br />Construction Loan Agreement as if those provisions were fully set forth in this security Instrument and made a part
<br />of it.
<br />WARRANTIES. Grantor, for itself, its heirs, personal representatives, successors, and assigns, represents,
<br />warrants, covenants and agrees with Lender, its successors and assigns, as follows:
<br />C� 2004-2010 Compliance Systems, Inc. F947-C140 - 2010.05.365
<br />Commercia( Construction Security Instnmient - DCA007 Page 1 of 5 www.compliavicesystems.com
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