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<br /> � ACKNOWLE�GEMENY OF DEED OF TRtlSY "
<br /> � TRUST�A RFAD THIS B�FORE SlGNlNG: ��-i��75 2 '
<br /> Trustor u�derstanda thatthe dQSUmantthatTrustor is abQUtto exe�ute i�a Oeed of Trusi and not a mortgage and that the p�wer ' _
<br /> of sale provi�ed tar in the Dead of Truat pravides s�h�+.antielry diHereit righta and QbNgations to Trustor than a moRgaye tn the event
<br /> r o!a detauit or breach ot obtiDaiion under the Oeed of Trust,fnciuding,but no�}imite�40.the Lertder's right'ta t�ave Qhe Property aa!d
<br /> by!hn Tru�tee without any judtctal proceeding.Tri,rstor represanta and werr�nt�that this acknowte+lgemen!was execvted by
<br /> Trustor beicre the executton o!the Qeed of Trus't. ����. ��� � •
<br /> `* 1 �fJ < .
<br /> . . . , ` .-
<br /> ; �Je ce Thayer, TN r President) '
<br /> Trustor ` � • • .
<br /> _ . . . '1..:_
<br /> ;:;;:::>, . DEED 4F'�F�ttST WlTH FtJTU��ADVANCES � ' � ;
<br /> : ;,;.� ,
<br /> • THIS DEED OF TRU&'f;.i�made.a�af the��,s'� day af FeYs�u:�i , � �t9 S�by artd among- ,
<br /> ,. . the Trustor, waarrpronnd� T,, - � • � .
<br /> �r•�ose mailing address is 800 Staec�a�.6xi.ve, Granrl IslanB, NE 6���ein"Trris`.��`,wheth�r one or more). .
<br /> the Trustee. William Go__H��yr�„� � a meml�e,r of the t�3 State H� Assn. .
<br /> .>..."h
<br /> _ ' z.vhose maiting addreas i� P•�• � 228�� Grasid= Y��and, t7F3 68802 (herein"3'��tee"},and .
<br /> �s: • .
<br /> '1 ti;:a Benefioiary. LT� Pa�..�,i3an� ..
<br /> , ,�hose mailinn eddress is a_ t�., g�,g ��n�y, Grand Ts� nd, NE 68802 (herein"Lender"j. .
<br /> �OR V1d.uhaLE COS��lGERATiO!'.i,including Lender's extension af credit id•�ntified��e�����a iQodQptoeeBM tn�_
<br /> , (herein "Borrower",whether one or morE)���ihe trust herein created, , •
<br /> � ttse recei�t af:wSyich is hereby acknowtedged,Tnistwr hereby irrevocabty grants,transfers,canveys and assigns to Trustee,IN .
<br /> ' ` TRUSt;UJi'ff i�G�U�R OF SALE,for the benefit and security of Le^der,under and�ubject tcs s�:�4erms and conditions heseinefter set
<br /> . • torth.the re2l,pro�eRy.described as follows: i ,��_
<br />'`.•` A traCt of l,and compsising aii of i�ots Twa t2) anr3 Three i3� t�nion Square mY��.�d �=
<br /> Subdivisfon its tt►e City of Grand Island. Nebraska, �s3.d tr�ct coatainiag 1.396 acres ��e `
<br /> i or �c�as.
<br /> � Togettlar with 211 buildings,Imptovements,fixtures.slreeta,alleys,passageways,easaments,righta,priv(leges and appurte-
<br /> � nances located therean or in anywise pertaining thereto,and the renis,issues and protits.reversions and remainc4sra thereof,end
<br /> I suah personal property thai is aitached to the improvementa so as to constitute a fixture,including,but not fimited to,heating and
<br /> � cooling equipmen�and ta�ether with the homestead or maritat tnterests,if any,which interests are horehy released and waived;atl
<br /> , cf w�►ich,inciuding replacemente and addltions thereto,is hereby declared to b9 a part of the real estate secured by!�e(ion of thia , .
<br /> ' Deed of Trust and all of the toregoing h..Ping referred to herein as the"Property".
<br /> Th;s Oeed of Trust shall secure(a)the payment uf the principal sum en�i interest evidenced by a promissory note or cred'.t " �
<br /> a
<br /> • agreement dated FebstiasY 9, 1990 ,havirg a maturity date a1 May 10, 1990 . �
<br /> in the orlginel principal�mount of S 108,000,,00 ,and any and at! modificatians, extensions and renewals
<br /> � ? thereof or thareto artd any and all future advances and readvances to Barrowar(or any of them i1 more thart one) hereunder �',:;
<br /> .. pursuant to one or mare promissory:�otes or Credit agreemento(herein calted"Note");(b)the payment af ottrer sums advanced by .
<br /> � . Lender to protect the securiry ot the Note;(c)the performance oi all covenants and agreemonts ot Trustor set torth herein;and(d)al!
<br /> present and future indebtedness and obligationa of Borrawer(or any oi thsm if more than one)to Lender whether direct,indirect, '. -
<br /> absoluto or conting�nt and whether arising by note,guaranry,overdraft or othe�wise.The Note,this Deed ot Trust and any and all t
<br /> - olher docuentathat secure the Notv or otherwlse executed in connection Iherewith,irtcluding without Um�taAon guarr�r,l�:s,security.
<br /> agreements and assignr.^e.^.ts ot leases end rents,shaN be raferred to herein as the"L.oan Instruments".
<br /> Trustar covenanta erd agrges with Lender as foltows:
<br /> 1. ParnNnt ot Ind�frb�dnfto.All indebtedness secured hereby shall ba��n�d whon due.
<br /> � 2.TNI�.Trustor is the owner of tne Property, has the rigfit and authcr�rq to ct�nvey.t�e�'roperty,an�J warrants thnt the Nen
<br /> � created herets;�is a tlrat and prlor IiEn��n the Property, excepi;far iiens sr,d encumbre.rres set forth by Trustor 'sn wrlting and �
<br /> ' dolivered C�l.pnder betore executior�a!this Oeed ot Trust,and tne execution and deliver��t t:::s Oeed o}7rust does not vlolate any
<br /> � cantract or other oblfq�.tian to whfch Trustor i�5a�;eC1.
<br /> 3.TaxN,Ms��an►astRs.To pay betore delinquency al!taxes,special as=essments and ail other cha�:ges against the Property
<br /> rtow or hereafter levied.
<br /> . � 4. ttau►anc�.To keepthe P�oporty insured against damago by tire,hazards included w,.:hin the term"extended coverege'.and
<br /> such other hazards as Lendar may require,in amounts and with companies acceptablo to Lond�r.naming Lender as an addltronal
<br /> nemed insur�d,with fass payabte to the Lertder.!n case of lass unde�such poficies,the Lender is authorized to adJust,coltect end
<br /> compromise,all cl�ims thereunder and shaA have the option of�pplying all or paft o}the insurenco praceeds(i)to any indebtedness •
<br /> secured heroby and in such order as Lender may determine.(ii)to the Trustor to be used for the repair or restoration of the Property �`=-__
<br /> or(iii)tor enyother purpose or cbject s2tisfactory to Londer without aHectirtg tho lien oi thls Qeeaf of Trust for the full amount secured �
<br /> hereby betaro such payment ever took place.Any appiication of proceeds to indebtodness shat!not extend or poatpone the due �
<br /> date ot any payments under the Nate,or cure any default thereunder or hereunder.
<br /> 5. E�crow.Upon written demand by Lender,7ru$tor shalt pay to Lender,in such manner as Lender may dasignate,sufl�cient j . '
<br /> ' " summtoedBbTeL�r�d6�tapeyasm9ybeCbmedueonearmoreotm�tott6wrng:(qattcaxes,assessmontean�otherci�argssagainst ,
<br /> the Property,(ii)the premiums on th9 prup�►ty in�u►ance requlrpd hareunder,and(iii)the promlums on any mortgage insurance '
<br /> ►equired by Lent�er.
<br /> L 8. MNnNnsnc�.R�pI�M��nd CompNanc�wHh L�w�.Trustor shall keep tho Properfy !n go�d conQition and repatr;shall
<br /> promptly repair, or replac9 any impr�vemonf which mgy be d�magett or destrbybd; sha�l not commit or perm�t any waste or
<br /> deterlot8tion of the property;sha�ll not ramave,demol�s�ar substantialty a�to�ony ot tho impravemonts on 1!he Propnrty:sh�ll not
<br /> commit,auffer ar permt!any ac1 tn be dann in or uUon the praperry in v►o►atian ol any law,osd�nanco,or regulation;and shal►pay an�
<br /> promptty disGhatgg ef Trustor's cost and expense all liens,encurnbranCes and charges!oviasl,imp�sod or assossed agninsl thd
<br /> P�operty or a�y Pan thereat. �
<br /> 7.Emfnrn!Domsln.Lender is ht,uoby�ssigned ali compon�ation,award�,dnmagns and athdi paymonts 6r roti4i(herainaRar i� M
<br /> "ProCeHd$"I m connei:tron w�th condemneti�n pr ot-�it�r taking olthe Proparty oi part thsreat.or for canvey�nco m I�ou ot Condtimnti-
<br /> t�on.tender�he;l bv entrtled et ft�npfion to commontb,app£tar In and proS�CUt�in i25 own narnE�ny aetrOn�r pruCBedmgs.:�nd
<br /> . st�aB aiS�bp pntitled tu mako any compramiso or sEirilem�nt in connfict�on w�t�such Lzking o►dam�go t n tho evanl any pqrt�dn ot
<br /> M!C Ed5!fNr..s�7t,r J�l.a bssGl Rav tp.8� �
<br /> Q f A!S Nr.;,-a�Rary LE fqrn;.;�:r�1�,ti f�d��rr.�D 44f r.,6t:•.�t•,v�-te 4ett�1e
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