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<br /> 98- 1�r38'76 � � °�' �
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<br /> ACKNOWLEDGMENT OF DEED OF TRUST AS SECURITY INSTRUMENT �
<br /> we, Marlin J. Letscher and Lorraine E. Letscher , Husband and Wife, �
<br /> �
<br /> ,("Trustor") ��
<br /> under the following Deed of Trust to be entered into among Trustors, Aren R. Baack, Attornev at Law P.O. BOX C•
<br /> 790 Grand Island, NE 68802
<br /> ,("Trustee"),
<br /> and The Overland National Bank of Grand Island
<br /> ("Beneficiary") covering the property described below hereby acknowledge that it is understood that (a) the Deed of Trust to be
<br /> executed by Trustor is a trust deed and not a mortgage and (b) the power of sale provided for in the Deed of Trust provides
<br /> substantially different rights and obligations to the Trustor than a mortgage in the event of default or breach of obligation.
<br /> Trustor acknowledges that this Acknowledgment was made prior to the execution of the Deed of Trust.
<br /> Executed and delivered this 16th day of Apl'll , 1998
<br /> i�'C"�v�'`.,' ' . J���aor-�
<br /> r��st°� T�USto� Marlin J. L tscher
<br /> ���L�J.vjta �
<br /> T��Sto� ��S�� Lorraine . Le er
<br /> DEED OF TRUST
<br /> THIS DEED OF TRUST ("Security Instrument") is made on Ap�ll 16th , 1998
<br /> Tne cruscor is Marlin_J. Letscher and Lorraine E. Letscher , Husband and Wife, As Joint Tenants
<br /> ("eorrower").
<br /> Tne trustee �s Aren R. Baack, Attornev at Law P.O. Box 790 Grand Island, NE 68802
<br /> ("Trustee"). The beneficiary is
<br /> The Overland National Bank of Grand Island , wn�cn is organized and existing
<br /> under tne iaws of The United States of America , and whose address is 304 West 3rd Street
<br /> Grand Island, NE 68801 ���Lender"�.
<br /> Borrower owes Lender tne principal sum of Thirty Four ThouSlnd Three Hundred Fifty Six and 46/100
<br /> Dollars (U.S.$ 34,356.46 ). This debt is evidenced by Borrower's note
<br /> dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid
<br /> earlier, due and payable on April 16, 2001
<br /> This Security Instrument secures to Lender: (a) repayment of the debt evidenced by the Note, with interest, and all renewals,
<br /> e�ensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to
<br /> protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements. For this
<br /> purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property
<br /> located in H811 County, Nebraska:
<br /> Lot Five (5), Block Seven (7) Kernohan and Deckers Subdivision , City of Grand Island, Hall
<br /> County, Nebraska and a part o� Vacated Monroe Street, Adjacent to said Lot Five (5).
<br /> which has the address of 1520 W. 3rd St., , Grand Island
<br /> Nebraska 68801 ("Property Address"); svaat ccy
<br /> Zip Code ^ C-7�p
<br /> Form 3028 9/90 NEBHASKA Single Family FNMA/FHLMC UNIFORM INSTRUMENT ���
<br /> F1316.LMG (1/97) Page 1 ot 5
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