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F ACKNOWLEDGEMENT OF DEED OF TRUST 814 9 TRUSTOR READ THIS BEFORE SIGNING: 89--103254 Trustor understands that the document that Trustor Is 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 Trtutee without any judicial proceeding. Trustor represents and watrants that this acknowtedgemen! was executed by Trustor before the execution of the Deed of Trust. J u JL -talc rustor (Bonnie Agu alr r DEED OF TRUST WITH FUTURE ADVANCES THIS DEED OF TRUST, is made as of the —16 day of June , 19-0— by and among the Trustor, T. J. Aguilar and Bonnie Aguilar whose mailing address is 1024 North Eddy, G. I . , NE 68801 (herein "Trustor ;" whether one or more), theTrusteei. Willaam G. Blackburn• A Member of the NE State Bar Assn. whose mailing address is P.O. Box 2260, Grand Island, NE 68802 (herein "Trustee'), and the Beneftciary, - Five Points Ban whose mailing address is P.O. Box 1807, Grand Island, NE 68802 (herein "Lender"). FOR VALUABLE CONSIDERATION, including U+ nder's extension of credit identified herein to T. J. Actuilar and Bonnie •• ASuilar (herein "Borrower ", whether one or more) and the trust herein created, the receipt otwhich is hereby acknoWadged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE, for t'cei benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property described as follows: North Bali '(N ) of Lot One (1) and the North Half (Nk) of the East Eleven (11) Feet of Lot Two (2), Block Two (2), H. G. Clark's Addition to the City of Grand Island, Hall County* Nebraska Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte- nances located thereon. or in anywise pertaining thereto, and !hc rents, Issues and profits, reverelans and rema;ndera thereof, a;-.d' with 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, including replacements and additions thereto, is hereby declared 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 6 -16 -89 , having a maturity date of .6-16-90 In the original principal amount of S 12,020.50 , and any and all mod'.1catfons, extensions and renewals thereof or thereto and any and all future advances s!td readvances to Borrower (or any of them if :mere than one) hereunder purivant to one or more promissory ;totes or credit egseements (herein called "Note'); (b) the payment.6tother sums advanced by Lender to protect the security of the Note; (c) the performance of.alt:covenants and agreements of Trustor set forth herein; and (d) all present and. fdare indebtedness and obligations of Borrower (or, any of them ii more thgn.ar'e) to Lender whether direc% indirect, absolute or contingent and whether arising by not6; guaranty, overdraft or otherwise. The NoCe, this Deed of Trust and any and all other docuents that secure the Note or otherwise execlted in connection there-with, including without Iimif Jon guarantees, security agreerntents and assignments of teases and rents, slii3ft: be referred to heren? as the "Loan Instrument' .Trustor covenants and agrees with Lender as fall 's: :. PsXrnoertt of IndebledrAw. All Indebtedness secured hefiby ,shall be paid when due_.' . 2. Tills; Trustor is the owner of the Property, has the right. and authority to convey tine Property. and warrants that the lien created hereby is a first and prior lien on the Property, except for liens and encumbrap�s set forth by Trustor in writing and dfvered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any wntract or other obligation to which Truster is subject: 3. Taxes, Assevernents. To pay before detirqueniryall taxes, special assessments and all other charges against the Property now or hereafter levied. 4. boar". To keep the Property insured against damagOr by fire, hazards included viMilo 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, (ii) to the Trustor to be used for the repair or restoration of the Property or (iii) for any outer purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any appiication of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. S. 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 properly incuranr. a required hereunder, and (iii) the premiums on any mortgage insurance required by Lender. 6. YMnMnance, 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 d_eteftrat;On of the Property; shall not reritove, demolish or subsfaintiaity after any of the improvements on the Property; span not commit suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shalt pay and promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof. 7. Efflkwt Doatsin. Lender is :iereby assignsd all compensation, awards. darnages and other payment✓ or reltr f (hereinafter "Proceeds -) in connection with condemnation or other taking of the Property or part thereof. or for conveyance in f+eu of condemna• tion. Lender shall be entitled at its option to commence, appear in and prosecute in its own narne any argon or proceedings. and shall also be entitled to make any compromise or settlement in connection with such taking or damage In the event any portion of nsc �t57 iMonry cJtur. O..ai R.r t D go O t�Nat.pui e.nt of Ccr+r..r,. T•cft.M 8lu.r.�, ;sr•s+�n L,nco!- q.L.etb a s f s i t= a s f s