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<br />ACKNOWLEDGMENT OF DEED OF TRUST $9- 102924
<br />TRUSTOR READ THIS BEFORE SIGNING,:
<br />Trustor understands that the document that Trustor iii about.to execute is a Deed of Trust and not a mortgage and that tho power
<br />of sale provided for in the Deed of Trust provides st)bstantially different rights and obligations to Trustor than a mortgage in the event
<br />of a default or breach of obligation under the Deed of Trust, inchrding, but not limited to, the Lenders right to have the Properly sold
<br />by the Trustee without any judicial proceeding. Tlustttr rep(eflHnis afid "w tfHnts that this acknowledgemen! was executed by
<br />Trustor before the execution of the Dees! of Trust.
<br />� c
<br />(Venneth E. lark) Trustor ( unband)
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<br />(Phyllis A. Clark Trustor Wife)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />T16YS DAD: OF TRUST, Is made as of the , 31— day of may
<br />tt-te Trustor; Venneth E. Clark and - Phyllis A. Clark. Husba and wife
<br />19_99..., by and among
<br />whose maiYrfij address is 107 h?., 4th, Grand 7rr%JAd+ NE (herein "Trustor;' whether one or more),
<br />the Trustee, wi l "am A_ Al ackNurn - A mernber, of the NE State Bas A° °n
<br />whose mailing address is P. 0. Sox 22$g. Qrgnd aplgnd. ICE 58802 (herein "Trustee "), and
<br />the Beneficiary, Ftyn 2ninta Rank
<br />whose mailing address is P.O. Box 1507,2- Grand Island, ME 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of 'credit identified herein to Venneth E. Clark
<br />and PhEllia A. Clark _ (herein- "Borrower", whether one or more) and the trust herein createo,
<br />the receipt Ef..Atac1 is hereby acknc*redged, Trustor hereby Irrevocably grants, tr�aii4te-s, conveys and assigns to Trustee, IN
<br />TRUST, th"4TH MWEh O SALE. for the benefit acid Security of Lender, under and subject t a'the terms and conditions hereinafter set
<br />fc tk the rrekt,property, described as follows: •
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<br />Lot Filve (5) and the westerly 26 feet of Lot Six (6), all in Block Thirteen (13),
<br />Lambert's Addition to the City of grand Island, Hall County, Nebraska, commonly.
<br />-- known'as 1406 Eaet 5th
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<br />Together with 211 buildings• improvements. fixtures, streets. alleys, passageways. easements, rights, privileges and appurte-
<br />nances located theteon or in anywise pertaining thereto, and the rents, msucs 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 interests are hereby released and waived; all
<br />of which, including replacements and additions thereto. Is hereby declared to be a pan of the teal estate secured by the lien of this
<br />-Deed of Trust and all,of the foregoing being refdrreil to herein as the "Property ".
<br />This Deed of Trust shall secure. Ob. 04 pa.yrrent of the principal sum and interest evr:tenced by a promissory note or credit
<br />agreement dated May 3i, ligS9 having a maturity date of. June 5, 1992
<br />in the original principal amount of .5 4+ 400.00 , and any and an modifications, extensions and renewals
<br />thereof or thereto and Any and all future advances and readvances to So.-rower (or any of them if more than one) hereundi3rr, • !
<br />pursuant to one or more promissory+ , Fetes or credit ayreerrerfs (t^.erein ca!ied "Note "); (b) the payment of other sums advanced by
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<br />Lender to, pretect.the security of -the Note: (c) the performance coverlantsand agreements of Trustor set forth herein; and (d) all
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<br />present acid future indebtedness and obligations of Borrower (or any of Mern i, more than one) to Lender whether direct, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note or otherwise exocuted to connection therewith• mcluding without limitation guarantees, security
<br />agreements and assignments of leases and rents. shall be refe'eed to herein as the "Loan Instrumects ".
<br />Trustor covenants and agrees with Lender as follows-
<br />1. Payment of indebtedness. AIL indebtedness sect:red here -by shall be paid when due.
<br />2. Title. Truitir is the owner of the Property, has the right and authority to convey than Prope --Ly: ar sd warrants that the lien
<br />. created hereby ,s.a first and prior lien on the Property, except for liens and encumbrances set forth Liy Trustor in writing and .
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Vged of Trust does not violate any
<br />contract or other obligation to which Trustor Is subject
<br />I Taxot. Assessments. To pay before deltrquency all taxes. special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage 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 additional
<br />named insured, with loss payable to the Lender. In case of loss under such policies, the Lender Is authorized to adjust, collect and
<br />compromise, all claims thereunder and shall have the option of applying all or pan of the Insurance proceeds (t) to any indebtedness
<br />secured hereby and in such order as Lender may determine, (u) to the Trustor to be used for the repair or restoration of the Property
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<br />or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this (Seed of Trust for file 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 />5. Escrow. 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 due one 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 />L 6 Maintenance) Repairs and Compliance with Laws. Trustor shall keep the Property if) good condition and repair, shalt
<br />repair, replace
<br />promptly or any Improvement which may be damaged or destroyed, shall net 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 />commit, suffer or permd any act to be done In or upon the Property In violation of any taw. crdinance, or regulation, and Shah pay and
<br />promptly discharge at Tfustor's cost and expense all hens encumbrances and charges levied. ,mposed or assessed against the
<br />Prop" or any part thereof
<br />7 Er"hient Dorrrsln. Lender ,s ►tenet: / asEitgniLd a'L Lwnpensafion 3Ylards d ;rragoi, ': ^d other paiv;unts or roiol It.vielnaftor
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