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<br /> ACKNOWVl.EUOI�MENT 90� �
<br /> Tho undersigned Trustors heretiy �cknowledge and undarstand __ . _____.____
<br /> � thr�t (�) the security documen� belaw to be executed is e Trust
<br /> D�sd and not a mort�e�s� (b) the powe� of a+�le providsd for i� �
<br /> the Trust Deed p�ovides subatantially different right� and . „
<br /> . ob'19getiona to the Trus�ors then a mortg�ge in the evonL of e�
<br /> ; defeult or breach of obligation. The Trustor� further represent .
<br /> ; bnd e9rse that thie certificr�tion hAa been read And executed in
<br /> � connection with, but prior to, the Trustors' execution of the
<br /> � �! following Truat Dead.
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<br /> �f DATED July a��; 1990.
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<br /> ; � J . ung J �t K. Young
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<br /> STATE OF NEBRASKA )
<br /> , ) SS.
<br /> I COUNtY OF HALL )
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<br /> The foregving wes acknowledged befo�e me on the � day of
<br /> July, 1990, by Jay A. Young and Janet K. Young, husband and wife,
<br /> to be their voluntary act and deed.
<br /> , �l A rl�N� �} �.1�.�.c��J�t-c.t�-��
<br /> � p�N� _�LL Nota�y Public . �
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<br /> � TRUST DEED � '�
<br /> � THIS DEED OF TRUST �s made on July 2� , 199d. The Trustors
<br /> ' are JAY A. YOUN� and JANET K. YOUNG, ( "Borrowers") . The Trustee �
<br /> ;
<br /> ' is the Bank of Doniphan ( "Trustee"). The beneficiary is SCHUPPAN -
<br /> i FARMS, INC. , whose address is Rur�i Routa 1 , Doniphan, Nebraska
<br /> � 68832 , f "Lender") . Borrowers awe Lender the princzpal sum of
<br /> ' Forty Five Thousand Dollars (U.S. 545,000.00) . This debt is
<br /> � evidenced by Borrowers' note dated the same date as this Secur�ty �
<br /> 1 Instrument ( "Note") , which provides for monthly payments, with
<br /> i the full debt, if not paid earlier, due and payable on July t5,
<br /> � 2010. The Security Instrument secures to Lender: (a) the
<br /> ( repayment of the debt evidenced by the Note, with in�erest, and
<br /> � a11 renewals, extensions and modifications; (tr) the payment of
<br /> � a11 other sums, with interest, advanced under paragraph 7 to
<br /> � protect the security of this Securi�y Instrument; and (c) the �-
<br /> perfarmance of Borrowers' covenants and agreements. For this - -
<br /> : purpose, Borrowers irrevocably grant and convey to Trustee, in `.��"
<br /> ; trust, with power of sale, the following described property , ` �
<br /> ; located in Hall County, Nebraska:
<br /> Lot Five (5) , Meadow Lane Fourth Subdivision, Ha1T ,
<br /> ' County, Nebraska
<br /> � which has the address of 3015 Goldenrod, Grand Island, Nebraska
<br /> � 68801 ( "Property Addres�" ) .
<br /> � TOGETHER WITH a11 the improvements now or hereafter erected
<br /> on the property, and all easements, rights, appurtenances, rents,
<br /> royalties, mineral , oil and gas rights and profits, water rights
<br /> and stock and al l fixtures now or hereafter a part of the ;---_—--
<br /> property. All replacements and additions sha11 alse be covered �
<br /> by this Security Instrumant. All of the faregoing is referred to
<br /> in this Security Instrument as the "Property" .
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<br /> BOliROWERS COYENANT that Borrowers are lawfully seised of the
<br /> estate hereby conveyed and have the right ':� grant and convey thr� �
<br /> LRroparty and that the Property is ur��3ncumbqred, except for
<br /> encumbrances of record. Borrowers warrant and will defend s
<br /> generally the title tn the Property against all claims and �
<br /> dema�nds, subject ta any encumbrances of record. + �,�f
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