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<br />THIS INSTRUMENT PREPARED BY:
<br />Home Federal Savings & Loan Association of
<br />Grand Island
<br />221 South Locust Street
<br />GRAND ISLAND, NE 68801
<br />AFTER RECORDING RETURN TO:
<br />Home Federal Savings & Loan Associ$tion of
<br />Grand Island
<br />221 South Locust Street
<br />G12AND ISLAND, NE 68801
<br />(Space Above This Line For Recording Data)
<br />DEED OF TRUST
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<br />(PREAUTI30RIZED (OPEN END) CREDIT - FUTURE ADVANCES ARE SECURED
<br />BY THIS DEED OF TRUS�
<br />THIS DEED OF TRUST ("Security Instrument") is made on November 14, 2011. The grantors are DAVID R
<br />COLAN and KAREN K COLAN, HUSBAND AND WIFE, whose address .is 225 S LAKESIDE DR,
<br />GRAND I5LAND, Nebraska 68801-8535 ("Borrower"). Bortower 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 65802 ("Trustee"). The beneficiary is Home Federal 5avings & 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 />5outh Locust 5treet, Grand Island, Nebraska 68801 ("Lender"). DAVID R COLAN and KAREN K COLAN
<br />have entered into a Contract with Lender as of November 14, 2011, under the terms of which Borrower may, from
<br />time to time, obtain advances not to exceed, at any time, a���MAXIMiJM PRINCIPAL AMOUNT
<br />(EXCLUDING PROTECTIVE ADVANCE5)��'� of Sixty Thousand and 00/100 Dollars (U.S. $60,000.00)
<br />("Credit Limit"). Any pariy 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 November 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 />For this purpose, Borrower, in consideration of the debt and the Uvst herein created, irrevocably grants and
<br />conveys to Trustee, in trust, with power of sale, the following described property located in the COLTNTY of
<br />HALL, State of Nebraska:
<br />Address: 225 S LAKESIDE DR, GRAND ISLAND, Nebraska 68801-8535
<br />I.ega1 Description: LOT ONE (1), HIDDEN LAKES SUBDIVISION NUMBER FOUR, HALL
<br />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 Bonower is lawfully seised of the estate hereby conveyed and has the right to
<br />grant and convey the Properly 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 />Bonower and Lender 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 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 />6 2004-2011 Complimtce Systems, Inc. ADCD-6735 - 2010L1.15.461
<br />Consumer Real Eatete- Security InstrumeM DL2036 Pege 1 of 5 www.compliencesystems.com
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