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ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOA READ THiS BEFORE SIGNING:
<br />Truster underi t ilds thatthe document that Truster is about to execute Ise Deed of Trust and not a mortgage and that the power
<br />of sate provided for in the peed of.Tnlst provides substantially different rights and obligations to Truster than a irelgage in the event
<br />of a defauifor breach of obligation under the Deed of Trust, including, but not limited to, the Lender's right to have that Property sold
<br />by the Trrushfe without afty,judicial:proceeding, Trustor represents and waaaitts thafthis acknowledgement was executed by
<br />Truster before the execution of the Deed of Trust
<br />.........
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<br />(Venneth E. Truster Claark,` Husband)
<br />(Ph y llis 11C. Truster Clark Wife)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 27 day of February 119A52-- by and among
<br />the Trustatr, twin Yth E. Clark and Phyllis A. Clark Mrsbalnd and Wife:
<br />whose nibllltig addrriss ltf' JOI W. 4th—Grand Island, Ne 68801 (herein "Truster; "..146 itirsr one or more),
<br />the Trustee, r;ia�tit,,,.�.+� n �rAmt,ar a the NE State Bar Associatfon
<br />whose railing ad. tia& ir; P.O. Sciz 2283 Grand Zalatsd Z 68802 - .��(itereirr•.Trustee "}, and
<br />the Beneficiary, F'iki- ` pdimt: 'bank
<br />whose mailing address is P -o_ Box 1507 Grans Island. NE 68802 (herein "Lender').
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Venneth E. Clark
<br />and hh3d lia A. Clark (herein "Borrower", whether, one or more) and the ttust herein created,
<br />the receipt of which is hereby acknowledged, Truster hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />—
<br />TRUST. WITH POWER OF SALE, for the benefit and security of tender, under and-subject to the terms and conditions hereinafter yet
<br />forth,.the real property,. described as follows:
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<br />Lot Five (5), Block One (1), Glovers Subdivision, Grand Island, Hall County,
<br />Nebraska
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easementu, rights, privileges and appurte-
<br />nances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and
<br />such personal property that is attached to the improvements so as to constitute a fixture,.including, but not limited to, heating and
<br />cooling equipment, and together with the homestead or marital interests, if any, which : nterests are hereby released and waived; all
<br />of which, fncluding replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property ".
<br />This !seed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreement dated 2/22 /tag , having a maturity date of - _ 3/4/1996
<br />In the original principal amount of S I I - nnlI,A] , and any and all modifications, extensions and renewals '
<br />thereof or itereto atmf any and ,r. future advanees and readvances to Borrower (or any of them if more than one) hereunder
<br />-ore
<br />pursuant tip or monsi cro "mi &„ iAyy Itccas c:r• C4;h ;f agreements (herein called "Note "); (b) the payment of other sums advanced by
<br />Lender tc the security tiff: tVCtti; =.
<br />protect of (c}, trr l_i�!srn am rs pf all covenants and agreements of Truster setforth herein; and (d) all
<br />present and luture indebtedness Ei,ri'Gt�lig �ttCa +S 1;l Borrower (or any of them ii more than one) to Lender whether direct, indfir�
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<br />absolute at contingeot and whether arising f3v ooh?, guaranty, overdraft or otherwise. The Note, this Dead of Trust and any and,Htf
<br />other docuents that s era the Note or otherwise executed in connection therewith, including without limitatioli
<br />guarantees, secttoty-
<br />agreements and assiyrments of leases and rents, shall be referred to here :m as the "Loan Instruments ".
<br />Truster covenants and agrees with Lender as follows:
<br />I. Payrrlent of indebtedrim. A'1 indebtedness secured hem-by shalt be paid when due.
<br />2. rife. Truster is the owner of the Property, has the right and authority to convey the Property, and warrants that the !ion
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<br />created Itratr by is a lirat and prior lien on the Pioperty. except for liens and encumbrances set forth by Truster in writing and,
<br />delivered,tb Lender before execution of this Dead of Trust, and the execution and delivery of this Deed of Trust does not violate any
<br />contract or order obiigation to which Truster is subject.
<br />3. Tapes, Assawmlints. To pay before defircluency all taxes, special assessments and all other charges against the Propelt'y
<br />now or hereafter levied.
<br />4. insurance. Tip kcep the Property insured against damage by fire, hazards included within the Corm "extended coverage ", and
<br />such other hazanin as-Lander may require. In amounts and with companies acceptable to Lender naming Lender as an additional
<br />named insured, w`„ts toss payable to the Lender. In case of foss under such policies, the Lender i9 authorized to adjust, collect and
<br />compromise, all claims thereunder and shall have the option of applying all or part of the Insulance proceeds (i) to any indebtedness
<br />secured hereby and in such order as Lender may determine, (ii) to the Truster to be used for ttre repair or restoration of the Property
<br />or (iii) for any other purpose or object satisfactoy to Lender without affecting the lien of thstleed of Trust for the full amount secured
<br />hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments, under the Note, or cure any default thereunder or hereunder.
<br />S. Escrow. Upon,vMtltien demand by Lender, Truster shall pay to Lender. in such manner as Lender may designate, sufficient
<br />surnsteenab;e LerOA, l6pay as they become due one Or more Of the following- (i) all taxes. assessments and other charges against
<br />the Property, (ii) the prentlttms on the property insurance required hereunder, and (in) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Mafnfsnance, Repairs and Compliance with Laws. Truster shay. keep the Property in good condition and repair; shall
<br />promptly repair, or replace any improvement which may be damaged or destroyed, shall not commit ar permit any waste or
<br />deterioration of the Property-. shall not remove, demolish or substantially alter any of the improvements on the Property; shall not
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<br />commit, suffer or permit any acito be done in or upon the Property in violation of any law, ordinance. or regulation; and shall pay and
<br />promptly discharge at Truster's cost and expense all liens, encumbrances
<br />and charges levied. imposed or assessed against the
<br />PrOpatry or any part thereof
<br />= Enrirt/nf Domain. Lender is hereby asSigned al! compensation, awards, damages and other payments or relief (hereinafter
<br />Proceeds 'l in connecton with cundemnatiort or other taking of the Property thereof.
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<br />or part orfor conveyance in lieu of condemna-
<br />ton Lender shall be entitled at its option to commence, appear in and prosecute rn its own name any action or irrcceedings. and
<br />Ola!; alto be entitled ra make any co-*rprcm :se at Serlement rn cotiner'ti7n +nth SuOt t3klttg Ur dgm3 jg Irl tier event any prinion of
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<br />C.OM R!tVA'V.Ya.9! : ^r.:./ca ?r,;s
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