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<br />ACKNOWLEDGEMENT OF DEED OF TRUST 89-4 0325 e
<br />TRUSTOR READ THIS BEFORE SIGNING,
<br />Trustor understands that the document that Trustor Is about to execute Is a Deed of Trust slid not a mortgage and that the power
<br />�., of sale provided for in the Deed of Trust prouldes substantially different rights and obligations to Trustor than a mortgage In the event
<br />i of a default or breach of obligation under the Geed of Trust. Including, but not lim , the Lender's right to have the Property sold
<br />by the Trustee without any Judicial proceeding, Trustor represents and w nts th this acknowtedgemen! was executed by
<br />Trustor bMore the execution of.the Deed of Trust. ./
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<br />(Ventth:`� Truator Clark, Husband)
<br />(Phyllis - . Trustor Clark, With)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRl IST, is made as of the —19_ day of guns ,.1999 -._, by and among
<br />the Trustor, Venneth E. Clark and Phy-iiia A. Clark. Husband and Wile
<br />whose mailing addrrm is • 127 W, 4th, Grand island' NE 6880L_ (herein "Trustor;' whether one or more),
<br />the Trustee, 111114 i ]Jam rr �RanbBnrn - a +suer of thw NE Stste nia A—
<br />whose mailing address is X-0. Box 2280. Grand island. NE 688Q2 (herein "Trustee"), and
<br />Me Beneficiary.. ELVA Pninto RAnk
<br />whose mailing address is 2•0- Box 1507, Gr lid Isla_rt&_ NIA 68802 (herein "Lender').
<br />FOR VALUABLE CONSIDERATION, including Lenders extension of cred<t identified herein to Ve na h f_ dark And
<br />Phyllis A: ezark (herein " Borrower", whether one or more) and the trust herein created,
<br />the receipt of which is hereby acknowledged, Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Lender. under and subject to the terms and conditions hereinafter set
<br />forth, the real property, described as follows:
<br />The Westerly one half (W%) of Lot One (1), Block Seventy (70) Original *vn,
<br />now ..i - L"r-- �S:.Tirr-- =v�w..'3, sav :a �viaaavp, NGiia:arW%=$ vaaurrvasijr k4itawa aFs -Y,9- cast-- 3rd- Strait-
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte-
<br />naneeg tocatrwi thereon or In anywise pertaining thereto, and the rents, Issues 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 equiprreint: and together with the homestead or marital interests, if any, which interests are hereby released and waived; all
<br />of which, including replacements and add: "ions thereto, is hereby declared to be a part of the real estate secured by the lien of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property ".
<br />This Deed bt,Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreement daW June 19, 1989 , havir+g a maturity date of - Jtul3x 4, 1996 ,
<br />in the original principal amount of $ 10 a 000.00 , and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory dotes or credit agreements (herein called "Note'); (b) the payment of other sums advanced by
<br />Lender to protect the security of the Note;. {,c ),,t)tisW, ofmance of all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obiiga':ons of Borrower (or any of them it 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 M4 Note or otherwise executed in connection therewith,.including without limitation guarantees, security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. Paynw *!i `*Khb$odneea. All indebtedness secured hereby shall be paid when due.
<br />2. Till*. TiUstor is the owner of the Property, has the right and authority to convey the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and
<br />deiiuered to lender before execution of this Deed pf••Trust; and the execution and delivery of this Deed of Trustdoes not violate any
<br />contract or other obligation to which Trustor i� sub;eci. `
<br />3. Taxes, Aeeetemanllf. To pay before delirquency all taxes. special assessments and all ocher charges against the ,Property
<br />now or hereafter levied.
<br />4. Ineurome. 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 part of the insurance proceeds (i) to any indebtedness
<br />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
<br />or (Iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the 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 Lenderto pay as they become due one or more of the following, (i) all taxes, assessments and other charges against
<br />the Property. (It) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Makiftnance, Repairs and CompNance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br />Promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br />d.iwkwai'avr+ of the Property: shall not remove, demolish or substantially alter any of the improvements on the Property; shait not
<br />commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance, or regulation, and shall pay and
<br />promptly discharge at Trustor's cost and expense all bens, encumbrances acrd charges levied, imposed or assessed against the
<br />Property or any part thereof.
<br />T Ertdr>!ni Damillilift. Lendwr is hereby assigned at! rompensation. awards• damages and Other paytncnts or rc;ief ( hereinafter
<br />'Proceeds") in connection with condemnation or other taking of the Property or part thereof. or for conveyance in lieu of condomna
<br />lion Lender shall be entsued at its option to cornmenr_o appear in and prosecute in its own name airy action or rroc odrngs. and
<br />Sh011 ehq isV trni{::dd to make any tornprornise or Settlement in ConneChon wdh such fak,riU or damage in the Event any pnrluui of
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