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1 i eO1MlI LN M 220600937 DISCLOSURE 89-;;-; 103083 MARK L. CALLAHAN MICHELLE M. CALLAHAN To: and hereinafter designated Trustors. ` s Occidental Nebraska Federal Swings Bank. hereinafter referred to as Beneficiary. does by this Disclosure state that the % nn of security agreement securing payment of a Promissory Note to be executed by Trusters Is a Trust Deed which incorporotse the provisions of the Nebraska Trust Deed Act. Said Deed of Trust covers the following described property: THE SOUTH FIFTY -FIVE (55) FEET OF LOT EIGHT (8) AND THE NORTH TWENTY (20) rs &' LOT NINE (9), IN VOLPE'S SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY,.',HNMWCA. t d toe taTiiiafor twuld Trust Deed is not a Mortgage, and. further. that the Trust Deed provides . a power of safe in the Trustee, which pow :of sale is exercisable under the provisions of the Nebraska Trust Demd Act without the approval "of any Court. The TrusWeed provides substantially different rights and obligations to the Trustor than a. Mort~ in the Ov&nt.:Gf a default of breach of obligation by the Truster, If the Trustee exercises the power of "ie upon the occurance of Trustor's default witfmut cure, the Trustor has no Tight to prevent a sale if the time granted byr,rhe Trust Deed to cure a default has expired. JUNE 16,1989 8I4TED OCCIDENTAL NEBRASKA FEDERAL SAVINGS BANK - Ym We. the undersigned, have applied to accidental Nebraska for a loan. The loan wiltbe evidenced by a Promissory Note, the payment of which is to be secured by a Deed of Trust. We have read the above Disclosure presented to us by Occidental Nebraska. We acknowledge aM understand that the document we are executing is a Trust Deed and not a Mortgage, and that the power of sale provided for in the Trust Deed provides substantially different rights and obliga- tions to Trustors than a Mortgage in the event of a default or breach of obligation. We. the Trustors, acknowledge than this Disclosure was made prior to the execution of the Deed of Trust. JUNE 16,1989 :. VATE [�-- MARE L. CALLAHAN TRUSTGA r� MZ ALCH LLE M. CALLAHAN T"T06 STATE QF`NEBRASKA ) OOUNTY OF HALL ) ss. f 16TH JUNE The foregoing instrument was acknowledged before me this____ --_ .. day 1989 !SARK L. CALLAHAN AND MICHELLE M. CALLAHAN* HUSBAND AND WIPE ... ____-_ by • - -_— - - rs i�CrL- .'a il�f�w r�� 8 S plllt i ) 1 a. •A' t Trustors -i