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<br />ACKNOWLEDGEMENT OF DEED OF TRUST ..�.. "06909
<br />RE-RECORDED 89-- 10038L 88
<br />SORROiMiRS READ THIS SEFORE SIGNING:
<br />Borrowers (Trustots) understand that thedocument that the Borrowereare about toexecute is a Dead of Trust and hots mortgage and that the power of fafe provided
<br />for in the Deed of Trust provides sublitiiitiaily dilterant tights and obligations to the Borrowers than a mortgage in the event of a default or breach of obligation under the
<br />Deed of Trust, including, but not limited to, the Lander'$ right to have the Real Property sold p tee without any judicial proceeding or foreclosure Borrowers
<br />represent and warrant that this acknowledgement was executed by them before the execu of the o1
<br />(Venngne E. Clark) Borrower (HUSband)
<br />-�_
<br />(Phylli8 A0.7darki Borrower (Wife)
<br />PREFACE TO DEED OF TRUST
<br />COMft UE ifs portion ONLY H Vial MI property described camlate of INDIVIDUALLY OWNED AGRICULTURAL LAND.
<br />11 applicable, complete ONLY ONE OIDW A. Si of C:
<br />O A. DISCLALMR OF elOt.T TO Dc. 'IGNATE HOMESTEAD:
<br />TheBorrower(s) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein. The Borrowerls), and each of them if
<br />more then o". do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrower($) is presently or will In the
<br />future beae .uated upon said real estate The Borrower(Q understand that it either establishes a homestead on any part of said teal estate during the time the Dead of Trust
<br />remains unsatisfied and ai lien upon said real estate, there shall be no right to make a designation of homestead in the event of a foreclosure or trustee's sale with respect to
<br />said Deed of Trust
<br />Q A WAIVEN OF RIGHT TO DESIGNATE HOMESTEAD:
<br />TP,gBorrower(s) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein- The Borrower($), and each of them if
<br />more tPzm stye, do hereby waive their n ght to designate a homestead pursuant thereto The Borrowers) understand that they have the right to make a designation of
<br />homas2irmdand that by executing this waiver, they are waiving rights otherwise available for the purpose of affording them the opportunity to retain their homestead in the
<br />event of a default upon tha Vead of Trust
<br />O C. OESIONAWOM OF HOMESTEAD-
<br />Pursuant to the Farm Homestead Protection Act (Section 76 -1901 at seq. Revised Statutes of the State of Nebraska), the Borrower($), do hereby designate the real
<br />property described in the "Designation of Homestead" attached hereto and Incorporated herein by this reference
<br />Borrower
<br />Borrower
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THiS DEED OF TRUST, is made as of the -21. _ day of Decauber _ . 1988— . by and among the Trustor,
<br />dlila Fjiy11 $ N. eir,_t__'it.�,_ Ill >?�fh�f�.ti &. W.iie -- -., .whose marling address is
<br />107 w i. •in:i�, t,;,;rda,io i�:i nrrci. -. ivc
<br />68801 (herein °Borrower "►.Ihp Trustee. ._William G. Blackburn, a Member of the NE State Bar Assn.
<br />whose mailing address Is _ p O! _ gqx 2280!_ Grand Island , ..Ne _ _ 68802-2280 (herein "Trustee").
<br />and the Beneficiary. Five Pbir)ta Batik _-__--- - -__- -- _..._ - -_ -- — -
<br />whose mailing address is —P-Q— BOtX1-507. Srand-Jalani t NE_ _68802 -1507 (herein "Lender').
<br />FOR VALUABLE CC.NSIDERATION, including the indebtedness ,dlSadred herein and trust herein created. the receipt of which is hereby acknowledged. Borrower
<br />hereby irrevocably grailM,transfers. conveys and assigns to Trustee. IN TRUST. WITH POWER OF SALE. for the benefit and security of Lender, under and subject to the
<br />terms and conditionsnereinafter set forth. the real property. described as follows now City of Grand Island
<br />Lot Two (2), Block Thirty -Five (35) in Original Town^ Hall Countyr Nebraska
<br />Together with all buildings. Improvements. fixtures. streets. alleys. passageways, easements. rights. privileges and appurtenance-, Located thereon or in anywise
<br />pertaining thereto. and the rents, issues and profits. reversions and ter- +amders thereof; Including. butmCJI limited to, heating and coc :rng equipment and such personal
<br />property that Is attached tea the Improvements so as to constitute a fixture, and together with the homestead of marital interests. if any, which Interests are hereby released
<br />and waived: all of which: Including replacements and adMions thereto. is hereby declared to be apart ot"real estate setrxad by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the "property"
<br />This Deed of Trust shall secure (a) the payment of We principal sum and interest evidenced by Po. rower's note an :. or credit agreement dated
<br />having a maturity date of 1214M in the oro; al principal amount of S 12,000.00 and any and all
<br />modikoions, extensionsand renewatst- hereof or thereto and any and of -0 tutureadvances and readvax—; hereunder pursuant to one ormore promissory notes or crerEW
<br />agreements (herein called'Note •): (0); tNe payment of other sumsadvzni:ed by Lender to protect the sesvdey of the Note. (c) the performance all covenants and agreement
<br />of Borrower set forth hatetm and (d) ail cndebtedness and obligations of Borrower to Lender whether C•'ect, indirect. absolute or contingent and whether arising by note.
<br />guaranty, overdraft of otherwise
<br />Borrower. to ordrect the security of this Deed of Trust. covenants and agrees T- ritvt- elder as rra;:t;'AA
<br />I Payffmi of Prioncipol and fAW"t. Borrower shall promptly pay when due t4principal Of 0r4`,:—eres1 on. andartyf eesorchargosprovidedin .theNoteorinM's
<br />Deed of Trust.
<br />2 Title. Borrower is the owrierrg trio Property. has the right and authority to convey the Propei!y z,7.d warrantstha: thhhercreatedherebyisafirstandpriorlien0-
<br />the Property. except a5 rfayothervot9e beset forth herein, and the execution and delivery of this Deed Of Trust does nct oolate arty contract or other obligation to whir.`•
<br />Borrower is subject
<br />3 Tax". AssNenleRis: T700Ay when due all taxes. special assessments and all other charges against the Property and upon written demand by Lender- to pay to
<br />Lender such amount as may be Vule--"nt to enable the Lender to pay such taxes. assessments or other charges as they become due
<br />a Insurance. To keep the Properly Insured against damage by fire. hazards included within the term "extended coverage and such Other nazardsas Lender may
<br />require, in amounts and with companies acceolable to Lender, and with loss payable to the Lender In case of loss under such policies the Lender rb aumcitized tv adiusl
<br />collect and compromme. all Claims therewidet and shall have the option Of applying ail or part Of the insurance proceeds i o toany indebtedness sec used hp•Pr,y and in such
<br />order as Lender may determine (n) to the Borrower to be used for the repair or testotation of the Property or tent floor any other purpose or ohteL1 sabs,faclCry 10 Lender
<br />Without affeehhgthehon Of this 000d of Ttust for the full amount sertlted hereby before suCh paym ?M CVer tOOk plat v Any apPIiLahUr• et prn(Pails 17 ,,. i- hieoness 3haA
<br />not ealand or postporre the due date of any payments under the Note Or cure any default thrrreui,hrr nr hereunder
<br />5 Maintenance Repairs and Compliance with law$. Lfurrowet shill) keep the Properly guv0 r ,nd.hur. and rep i • :.• .rtl I•..in.l,u, +mare m •eI lace fl•-y
<br />r,ptovement which may bodamaged or dostrcyed shall not comm•t nr pmm,t anyvaOte Or yPtennr,t!,o• if thr • pfnpr •+,r 5h:r r • -.,t +P.••ar•• •n•• .•�,bs <t•ibi ly,I V••
<br />nny Of Rie imps OVOrr,enls OrHhe Property shnilnotcnmm•1 Buffer or pn +nnlany 0t l!•�r :n dnnr.•.:.r :,ppn +•�n G•rt,Gr•rr...+ ...i: �, i.t:•; ,•n ,.•.1. r i ,. rn :h,:r!. ,, ,•, t
<br />�Rac Lai bn1pron.ptly d, mr- argeatNaluivef$coal+an�fn,pnnsP all half.$tlnr.,fnpr;l— eta•.fl••.ugt•s •,•. i.•7 ..p „ai •f •.n .,...., i.i, ,•i•.. I•. !. �• "vi •i • + -..
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