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<br />ACKNOWLEDGEMENT OF DEED OF TRUST 89-- 100907
<br />TRU$TOF( READ THIS BEFORE SIGNING:
<br />Trustor underdands<thatthe document that Trustor is about to execute is a Deed of Trust and nota mortgage and that the power
<br />of sale provided for in the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the event
<br />of a default or breach of obligation under the Deed of Trust, including, but not limited to, the Lender's rightto have the Property sold
<br />by the Trustee without any Judicial proceeding. Truster represents and waffMs that this acknowledgement was executed by
<br />Trustor before this execution of the Deed of Trust.
<br />Venneth E. Trustor Clark, Husband
<br />Phyllis . Trustor Clark, Wife
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THiS DEED OF TRUST, is made as of the 22 day of February . 19-19— by and among
<br />the Trustor. Vennath E. Claris and Pballis A_ Clark Hi2ahand and Wife
<br />whose mailing ddress Is 107 W. 4th. s7Lamd island, orig,. :.
<br />g (herein "Tntstcr "whether one or mw
<br />the Trustee, —William G. Blackburn, A Meimbew of the NE n State Bar Ass
<br />- -- : r
<br />whose mailing addra%s is ._ P _ _O. -Box 228rt, Mra"A_ Tel anrt r MR Apgn2 (hers €n "7rtjstaa';, and
<br />the Beneficiary, Five Points Bank
<br />whose mailing address is P_0_ Box 1E07 Grand Island, NE AAR02 (herein "Lender).
<br />FOR VALUABLE CONSIDERATION, including Lenders extension of credit identified herein to Qenneth E. Clark
<br />and Phyllis A. Clark (herein "Borrower ", whether one our rmem) and the trust herein created,
<br />the receipt of which is hereby ackrrow!edged, Trust =r L.enaby. irrevocably grants, transfers, conveys and assigns to Trustee. IN
<br />TRUST, WrTH POWER OF SALE. forthe benefit arid . cLL v11sofLender, underandsubjecttothetermsand 'conditfcrishereinafterset
<br />forth, thin rra! prcper(y, described as follows;
<br />The Southerly amaty -tw fmt (S 22') of the tFxthmtly Sixty-six Feet (N 66') of Lot One (1), and the�outherly Twentyr-two
<br />feet (S 221) of the Nardvwly Sixty -sic feet (t(t 661) of the Easterly *w4hird (E 1/3) of lot Tuo (2) , Mock FaMy -two
<br />(42), thfginal Timn, now City of ,:band Wad, ball. Ommty, Nebraska, also krimm as 382 North Pine in (rand Island,
<br />Neb ode
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements. rghts, privileges and appurte-
<br />nances located thereon or in anywise pertaining, thereto, and the rents, issues and profits, reversions and remainders thereof, acid
<br />such personal property that is attached to the improvements so as to constitute a fixture,.Inct.udingg, taut not limited to, heating and
<br />cooling equipment; and together Will the homestead or marital interests, if any, which intxmWs tEre: hereby released and waived; 4:1
<br />of which, Including replacements +and auditions thereto. is hereby declared to be a part cf the real estate secured by the lien of rj1s
<br />Deed of Tust and all tat the foregoing being raturn3d to hen 3n as the "Property ".
<br />This Deed of Trust shall secure =•ra) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreemEntr«ated 2 /22✓39 [saving a maturity date of 34/94
<br />in the c+iginal principal amount of $ 10.900, 00 and any and all modifications, extensions and rersewats
<br />thereof r:i thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder
<br />pursu2.cttr3 one or more promissory notes or cin;dit agreemarls (herein called "Note"); (b) the payment of other sums advanced by
<br />Lender Coprotect the security of the Note, (c) the irerformancecf all covenants and afire -ments of Trustor setforth ficrein; and (d) all
<br />present and future Indebtedness and obligations. of Borrower (or any of them if more thin one) to Lender whether direct, indirect.
<br />absolute or contingent and whether ar ng by nc;:e, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note cr atfeerwivs-executed In connection therewith, including without limitation guarantees, security
<br />agreements and assignments of leaser and rents, shall be referred to herein as the "Loan Instruments".
<br />Trustor covenants and agrees witl't Lender as follows:
<br />1. Payment of Indabtadneso. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Truster is the owner of the Property, has the right and authority to cor-ozy the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor In writing and
<br />delivered to Lender before execution of this Deed of Trust, and the executions and delivery of this Deed of Trust does not violate any
<br />contract or other obligation to which Trustor is subject.
<br />3. Taxes, Atmaments. To pay before delinquency all taxes, special assessments-and all other charges against the Property
<br />now cc hereafter levied.
<br />d. 1a wtun". To keep the Property : nsured against damabe by fire, hazards included within the term "extended. coverage ", and
<br />such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as an additianiii
<br />named insured, with loss payable to the Lender In :ase of loss under such policies, the Lender is authorized to adjust, collect pnd
<br />compromise, all claims thereunder and shall have f he option of applyipg all or part of the insurance proceeds (i) to a;ty indebtedness
<br />secured hereby and in such order as Lender may determ i rte, (11)4o the Trustor to be used lGr the repair or restoration of the Property
<br />or (iii) forany other purpose or object satisfactory to Lender willtout affecting the lien oftlrls Deed of Trust for the full amount secured
<br />hereby before such payment ever took place. A.ry a;,plicafit;titf proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Note, or cure any'gefault thereunder or hereunder.
<br />S. Eaerow. Upon written demand by Lender.. Trustor shall pay to Lender. In such manner as Lender may designate, sufficient
<br />sums to enable Lender to pay as they become dJe -ane or more of the following: (i) all taxes, assessments and other charges against
<br />the Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Malnknance, Repsks and Compliance w0h Laws. Trustor shall 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 or 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
<br />commib sufferer permit any act to be done in or upon the Propertir in violation of any law, ordinance, or regulation; and shalt pay and
<br />promptly discharge at Trustor•s cost and expense all liens, encumbrances and charges levied, imposed or assessed against the
<br />Property or any part thereof.
<br />T. EmInient DantaM. Lendet ra hereby assigned all compensation, awards, damages and other payments or relief (hereinafter
<br />•'Proceeds i in connection with condemnation or other taking of the Property or part thereof. or for conveyance in Ireu of condemna-
<br />tion Lender shall be entitled at ito option to commence, appear in and prosecute, in its own name any action or proceedings. and
<br />shall also bo entitled to make any compromise or settlement in connection with such taking or damage In the event any poft:on of
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