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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />89_.10 0 4'7 2
<br />SORROWERE READ THIS 0110RI SIGNING:
<br />Botrowera (Trustor$) understand that the document that the Borrowers are about to erecubt d a f7ar4ill Trutt and not a mortgageand thatthe power of aale provided
<br />for in Iho Deed of Trust provio" aubatanuitay different rights and obligations to the BOrrOwara thlin a 1711101ilne In the event of a default or breach of obligation under the
<br />Dead of Trust, including. but not Itfnited to, the Lenders right to haw the Real Property ao'd Oy tt,a Trultlo wilhoul any Judicial proceeding or foreclosure. Borrowers
<br />repreeenl and warrant that this acknowledgement was executed by them before the a utt� n of ChI! 0#. f rat Trull.
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<br />Phil f: J. '�Bdlro"tir VanDeWalle, Husband)
<br />l � Iii fit/G[-r�'.�.0
<br />(Sheila Borrower VanDeWalle, Wife)
<br />PREFACE TO DEED OF TRUST
<br />COMPLETE Wa POrNots ONLY N Ow teat propetlV lose lied cacetwfb all INDIVIDUALLY OWNED AGRICULTIMAL LAND.
<br />It applicable, con"Ife ONLY ONE eltMe A. S, o'r.C:
<br />0 A. OISC1:111ME11 OR RIGHT TO DESttImiry HomEsTEAm
<br />The Borrower($) acknowledge that theyarr3 aboutlo execute the following Deed of Trust upon tlrbr rital eStete described therein. The Borrower(s). and each of them it
<br />more than one. do hereby disclaim their right to deVginate ahomeslead pursuant thereto No part of ttrb homeate" of either of the Borrower(s) is presently or will In the
<br />future be situated upon said real estate. The Borcmwa!(*understand that it either establishes a homestlarlon any part of said real estate during the time the feed of Trust
<br />i remains unsatisfied and alien upon said real estate, there-WrialU be no right to make a designation of h-amrtalead in the event of a foreclosurer or trustees "W with respect to
<br />said Deed of Trust
<br />O B. WAIVER OF RiGHT TO DESIGNATE HOMESTEAD:
<br />The Borrowers) acknowledge that they are about to execute the following Deed of Trust upon 1"rose esta'edescribed therein. The Sorrower(s), and each of them it
<br />more than one. do hereby waive their right to designate a homestead pursuant thereto The 9nrroweFls) understand that they' have the right to make a designation of
<br />homestead and that by executing this waiver. they are waiving rights otherwise available for f hopurposetot affording them thecraortu mty to retain their homestead In the
<br />event of a default upon the Deed of Trust.
<br />E C. DEsiaNATiGN OF HOMESTEAD:
<br />Pursuant to the Farm Homestead Protection Act (Section 76 -1901 of seq. Revised Strfutes of tter, State of Nebraska). the Borrower(,). doMweby designate the real
<br />property described in the "Designation of K.- imestead" attached hereto and incorporated herein by tha.reference.
<br />Borrower
<br />Borrower
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, is made as of the A 9_ day of . JBUluC'Y.
<br />$.. _.. 19 89 by and among the Trustor. Phillip J.
<br />VanDeWalle & Sheila R. VanDeWalle, Husband &whosern3il igaddressts __2QA_%__Xorth Road —Grand Taland,
<br />NE 68803 (herein "Borrower-). the Trustee. William G. HYackrbusn, a Member of the NE State Bar Assn.
<br />whose maiiing address is P _ 0 _ BoX 22$0 _ GrAnd Is1AIld�_ P1 --- $0LZ _.__ (herein ~Trustee").
<br />and the Benetitiary. Five Points Bank
<br />w+osemadingaddressis P. O_. Sox 1507 Grand_ Island,_.NFi_ .68eO2 -1507 _. (hereon Lender ").
<br />FOR VALUABLE CONSICERATM. including the indebtedness identified hereirtand trust herein created. the receipt of which ts'heret%y acknowiedget Borrower
<br />hereby irrevocably grants. transfers. coneys 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 conditions hereinafter set forte, the real property. described as follows:
<br />A UNWI: of ]aid =W s! -a part of the NwdTiiiiest quieter (X t) of Sectiicn Txaille (12), T=LShip Eletrert (11)
<br />North, Range Zen (10), Wdst of the 6th P.M., Hall Coxity, Nebraska, and t — pprtirularly described as follows:
<br />Beginning at a point 245'feet Nwth of the Southwest can= of said Ntarthwest Quarter (NW%); thence Harting Northerly
<br />alag the West line of said Nairdwest Quarter (Milli) a distimm of 145 feet; thence rumiirg Easterly and peraLlel
<br />to the Saab line of said Northwest Quarter (NWx) a distarxia of 300 feet; thence rtlrining Soatharly and parallel
<br />to the West line of said Noz'diiiiiiest Quelrter (N%%) a distarne of 145 feet to al point 245 feet North of the South
<br />line of said Xccthweat Qualrter (Pitts); thence wining Westerly and parallel to the Swth line of said Nortlwast
<br />Quarter (IitiO a distance of 300 feet to the point of beginning and =tainirg about one (1) acre, marB or less.
<br />Also secured by attachment hereto. describing additional real estate.
<br />Together with all buildings. improirerfients. fixtures. streets. alloys, passageways. easements. rights, privileges and appurtenances located thereon or in anywise
<br />pertaining theato, and the rents, issues and profits. reversions and remainders thereof: including, but riot rm+ted to, heating any cooling equipment and such personal
<br />property that Is attached to theirs provements so as to consiituto a fixture: and together won the nomesteadGr:nantal mteresM. d any, which interests are hereby released
<br />and waived; all Of which. including reptacementsandaddi idnsthereto.i sherebydeclaredtobeapart aCrerevestatesecutrr _di ythehenofthisDeedofTrustandaltofthe
<br />foregoing being referred tdiaerein a$ the "property" "
<br />This Deed of Trust shall secure (a) the Ga'r'ment of the pnnclpef sum and interest evidenced by EtorroaC -; note dna,cr credit agreement dated
<br />1i1 M89 , having a matunty date of 1/19/94 —.in the original principal amount of $ 10.000.00 and any and at
<br />modifications• extensions and renewals thereof or thereto and any and all future advances and readvances hereunder pursuant to one or more promissory notes or credit
<br />agreements (herein ca!i" -Niwe). (b) the payment of other sums advanced by Lender to prolect the security of the Note (c t the performance all covenants and agreement
<br />of Borrower set forth herein: and (d) all indebtedness and obligations of Borrower to Lender wftether direct. indirect, absolute or contingent and whether arising by note.
<br />guaranty, overdraft or oifterwise.
<br />BOrrOwer, to protect the Security Of this Deed of Trust, covenants and agrees with Lender as follows
<br />1 PaTnreOIOfhMelPelandlnhrest. Borrowershallpromptl ypaywhenduetheprincipalo fandintenut;i :n. and any fees of charges provided in. trio Note Orin this
<br />Deed of Trust.
<br />2 TWO. Borrower is the owner of the Property. hostile right and authority to convey the Property. and warrants that the lien created hereby is a first and prior lien on
<br />the Property. except as may otherwise beset forth herein. and the execution and delivery of this Deed of Trust does not violate any contractor other obligavon to which
<br />Borrower is subject
<br />3 TNNOS, A$seatlM„ te. To pay 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 Sufficient to enable trio Lender to pay Such taxes, assessments or other charges as they become due
<br />• I Insurance, TO keep the Property insured against damage by fire. hazards included within the term "extended coverage ". and such other hazards as Lender may
<br />require. in amounts and with companies acceptable to Lender• and with loss payable to the Lender in case of loss under such policies. the Lender is authorized to adjust
<br />Collect and compromise. all claims thereunder and shall have the option of applying all or part Of the insurance proceeds (i) to any indebtedness set tired hereby and in such
<br />order as Lender may determine. (0) to the Borrower fry be used for the repair or restoration Of file Property or f w) for any Other purpOSP Or Object Satisfactory to Lender
<br />without affecting the ben of tins Deed of Trust for the full amount secuwc hereby before such payment overtook place Any appliCal3or, of proC.`nris to indebtedness shall
<br />not extend or postpone the due date of any payrnenis under trio Note or CUM any default thereunder or hereunder
<br />5 Malntenanea Ib>ralis and Compliance with Laws. Bortuwer Shad keep the Property in goOd cohdd,On anry •epa, •,n3:r pr-jmp••r r,•p,rr t •vwace am
<br />improvement Winch may be damaged or destroyed shall noico -m•f or permit any waste Or detenOrahnn Of the P.npPrty $'ran n; lei^ �.r dr•- c^ :,r c „rN it b3"S a•tr.
<br />any Of the improvements on the Property shallnUtcornmit suffer orpermi! any ac tits he r)rynem (it upor, the Properly •.vV:n+ ..... i, ":u , •,w n•_1•• :., i•i•'i- ..fir,• ,•. f
<br />snail pay and promptly diecharigo at norrowet s t cis? and Ux✓enso all t-ens entpnehrant es a•trh7rrjCS in r „•R •mp�5n.t.n .iSb•••..,�•1 .r it”, pr; „ "•i••rd
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