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<br />(Space Above This Line For Recording Data)
<br />DEED OF TRUST
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<br />(PREAUTHORIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRU5T)
<br />THIS DEED OF TRUST ("Security Instrument") is made on August 8, 2011. The grantors are MICHAEL L
<br />ADAMS and NORMA J ADAMS, HUSBAND AND WIFE, whose address is 4191 IiARTFORD ST,
<br />GRAND ISLAND, Nebraska 68803-2256 ("Bonower"). 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"). MICHAEL L ADAMS and NORMA J
<br />ADAMS have entered into a Contract with Lender as of August 8, 2011, under the terms of which Borrower may,
<br />from time to tixne, obtain advances not to exceed, at any time, a�'�*MAXIMUM PRINCIPAL AMOiJNT
<br />(EXCLUDING PROTECTNE 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 />Bonower 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 September 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 paytnent of all other sums, with interest, advanced to protect the security of
<br />this Security Instrument under the provisions of the section titled Protecrion 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 properiy located in the COLJNTY of
<br />HALL, State of Nebraska: �
<br />Address: 4191 HARTFORD ST, GRAND ISLAND, Nebraska 68803-2256
<br />Legal Description: LOT EIGHT (8), JEFFREY OAKS SUBDIVISION, IN THE CTTY OF GRAND
<br />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 Properiy and that the Property is unencumbered, except for encumbrances of record.
<br />Bonower 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 />Payment of Principal and Interest; Other Charges. Bonower 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, 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 tivs 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 5ecurity 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 of the Property is subjeet to a lien which may attain priority over this Security Instrument, Lender may give
<br />0 20042010 Complience Systems. Ina EEOB-B3E6 - 2010.03378
<br />Consumer Real Fstate - Security Instrument DL2036 Page I of 5 www.compGencesystems.com
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