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x '„N, c J iFy ` ACKNOWLEDGEMENT OF DEED OF TRUST 89-Z;&102126 TRUSTOR READ THIS BEFORE SIGNING: Trustor understands that the document that'rrustor 1? about to execute is a Deed of Trust and not a mortgage and that the power of sale provided for in the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the event of a default or breach of obligation under the Deed of Trust, Including, but not limited to, the Lender's right to have the Property sold by the Trustee without any judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by Trustor before the execution of the Deed of Trust Mark D. /Ste /lCjyk�/ /TT/7r /ustto/rj1 Husband Wanda L. Stelk Trustor Wife DEED OF TRUST WITH FUTURE ADVANCES THIS DEED OF TRUST, is made as of the 251.11 day January Y of y , 19-8$— by and among tyeTrustor, Mark D. Steak and Wanda L. Stelk, Husband and Wife 2021 N. Sherman, Grand Island, NE 68803 whose mailing address is . (herein 'Trustor;' whether one or more), the Trustee. William G. Blackburn, a Member of the NE State Bar Assn. whose mailing address is P.O. Box 2280, Grand Island, NE 68802 (herein "Trustee'), and the Beneficiary, Five Points Bank whose mailing address is . P.O. Box 1507, Grand Island, NE 68802 (herein "Lender'7. FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Mark D. Stelk and Wanda L. Stelk _ (herein "Borrower ", whether one or more) and the trust herein created, the receipt of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers,, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and r ubject to the terms and conditions hereinafter set forth, the real property, described as follows: East Forty -Four (44) feet of Lot Six (6) Block Twenty -Nine (29), Orignial Town, Grand Island, Hall County, Nebraska Together with all buildings, improvements. fixtures, streets, alleys, passageways, easements, rights, priviieges and appurte- nances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, aril such personal property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and cooling equipment; and together with the homestead or marital interests, if any, which interests are hereby released and waived; all of which, incuding replacements and additions thereto, is hereby dec!ared to be a part of the real estate secured by the lien of this Deed of Trust and all of the foregoing being referred to herein as the "Property ". This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit agreement dated 1 -25 -88 having a maturity date of _ 1 -25 -92 in the original principal amount of 5 6 , 200 . 00 , and any and al! modifications, extensions and renewals thereof or thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more promissory ;.otes or credit agreements (herein called "Note "); (b) the payment of other sums advanced by Lender to protect the security ci the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other docuents that secure the Note or otherwise exocuted in connection therewith, including without limitation guarante3s, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ". Trustor covenants and agrees with Lender as follows: 1. Payment of indebtedness. All indebtedness secured hereby shall be paid when due. 2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien created hereby is a first and prior lien on the Property, except for lions and encumbrances set forth by Trustor in writing and delivered to Lender before execution of fts Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Trustor is subject 3. Taxes, Assessments. To pay before delinquency all taxeG, special assessments and all other charges against the Property now or hereafter levied. 4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage ", and such other hazards as Lender may require, in amounts and with companies acceptable to Lender naming Lender as an additional named Insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender may determine, (il) to the Trustor to be used for the repair or restoration of the Property or (iii) for am, ther purpose or cbject satisfactory to Lender without affecting the lien of this Deed of Trusi for the full amount secured hereby befo - such payment ever took place. Any appilcation of proceeds to Indebtedness shall riot extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 5. Escrow. Upon written demand by Lender, 'Trustor shall pay to Lender, In such manner as Lender may designate, sufficient sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other chargss against the Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender. 6, Maintenance, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, sutler or permit any act to t:e done in or upon the Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, Imposed or as3essed against the Property or any part thereof. 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condomna- tion. Lender shall be entitled at its optlon to commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In fhb event any portial of NBC 34671N— OW—H-1 D-dl R— 10,64 C i M4 NIN—I 4.n. d Cam 1. T,..t .,,d S. 196 A..Ofi.lwn. Limon, N.t,.M.