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<br />FVERAL
<br />#1 GRAND ISLAXD M
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<br />ACKNOWLEDGMENT TO DEED OF TRUST
<br />The undersigned "Trustor" as identified in the following Deed of Trut,.t, whether one or more, understand that the document
<br />they are aboe' to execute is a Deed of Trust and not a mortgage, and that the power of sale provided for In the Deed of Trust
<br />provides cuts' antially different rights -and obligations to the Borrcwers than a mortgage In the event of a default or breach of
<br />obiigatlon us•cer the Deed of Trust, Including, but not limited to, the Beneficiary's right to have the Property Identified in Vie
<br />followinn Deed of Trust sold by the Trustee without ariy judlcllai praaeeding. Trustor represents and warrants that this
<br />Acknowl >dgment was executed by them before the execution of the Deed�of Trust hereafter set forth.
<br />P. Brownell
<br />HOME EQUITY LINE GEED OF TRUST
<br />THIS TRUST DEED made this- 30 day of _ `- 1ti' 90 , between John R. Brownell & Diane P
<br />Browne' 1, Husband & Wife_ hereinafter call "Trustor ", whose mailing address Is 2203 S. Woodridge Court
<br />Arend��ck Attorney at Law, whose mailing addess is P• 0. Box 790, Grand Isla Ne
<br />as "Trustee"; and Home }-ederai Savings and Loan As3oclaflon of Gra id Island, whose mailing address is 221 South Locust,
<br />P.O. Box 1009, Grand Island, Nebraska 68802, as "Beneficiary".
<br />For valuable consideration, Trustor Irrevocably grants, transfere, conveys and assigns to Trustee, in trust, with power of
<br />sale, for the benefit and security of Beneficiary, under and subject to the terms and conditions of this Deed of Trust, the follow-
<br />ing described property located In Hall _ _, Nebraska, to w!t:
<br />Lot Twenty -Two (22), Block One (1), in Brentwood Subdivision, in the City
<br />of grand Island, Hall County, fJebraska.
<br />together with all buildings, fixtures, improvements and appurtenances thereunto belonging, It being agreed that all of the
<br />foregoing shall be hereinafter referred to as the "Property ".
<br />FOR THE PUPPOSE OF SECURING ;performance of each agreemep�t and covenant of Trustor herein contained n¢ tie pay-
<br />ment of the principal sum of Twenty Five Thousand and no/1 00 ----- ------ - - - - -- 47ollars fr 25.00 . JO_)
<br />as evidenced by a Home Federal Home Equity Loan Agreement between Trustor and Beneficiary (the "Loan Agreement "), pur-
<br />suant to which beneficiary will advance funds to Trustor from time to time at the Interest rates and upon the terms provided
<br />therein, together with any sum or sums of money with Interest thereon which may hereafter be paid or advanced under the
<br />terms of this Deed of Trust, both principal sum and Interest thereon being payable according to the terms set forth In the Loan
<br />Agreement, reference to which Is hereby made, of the office of the Beneficiary in Grand Island, Nebraska, or at such other
<br />lace as Beneficiary may designate in writing.
<br />TRUSTER AND BENEFICIARY COVENANT AND AGREE AS FOLLOWS:
<br />1. Warranty of Title. Trustor Is lawfully seized of uia Property; has good right and lawful authority to sell and convey the Pi o-
<br />perty; the Property is free and clear of all liens and encumberances except liens now of record; and Trustor will warrant and r1e-
<br />fend the title to the Property unto the Trustee and Its successors and assigns forever against the claims of all persons.
<br />2. Payment of Principal and Interest. Trustor shall punctually pay the principal of, and Interest on, all advances under the
<br />Loan Agreement and will punctually per!orm all agreements, conditions and provisions of any other security Instrument given
<br />In connection with this transaction.
<br />3_ Preservation and Maintenance of Property, Trustor will not commit any waste upon the Property at will, at all times, main-
<br />tain the same In good order and condition and will make, from time to time, ali repairs, renewals, replacements, addltlons and
<br />Improvements which are reasonably required to prevent waste, Impairment, or deterioration of said property. No building or
<br />Improvement now or hereafter erected upon the Property shall be altered, removed or demolished without the prior written
<br />consent of Beneficiary.
<br />4. Insurance. Trustor, at Its expense, will maintain with Insurers approved by Beneficiary, Insurance with respect to the Im•
<br />provements and personal proerty constituting the Property against loss by fire, lightning, tornado and other perils covered by
<br />standard extended cover2ge endorsement In an amount equal to at least )ne hundreC percent of the full replacement value
<br />thereof, and Insurance against such other hazards and In such amount as Is customarily carried by owners and operators of
<br />similar properties and as Beneficiary may require for Its protection. Trustor will comply with such other requirements as
<br />Beneficiary may from time to time request for the protection by Insurance of the Interest of the respective parties. All in,
<br />surance policies maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as Ins", ,ds, as their respective
<br />Interests may appear and provide+ that there shall be no cancellation or modification without fifteen (15) days prior written
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