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<br />ACKNOWLEDGEMENT OF DEED OF TRUST 89 0010- 103257
<br />TRUSTOR READ THIS BEFORE SIGNING:
<br />Trustor understands that the document that Trustor Is about to execute is a Dow of Trust acid not a mortgage and that the power
<br />j-"1 of sale provided for In the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the event
<br />i, of ai default or breach of obligation under the Deed of Trust, Including, but ited to, the Lender's right to have the Property sold
<br />by the Trustee without any judicial proceeding. Trustor represents wo is that this acknowledgement was executed by
<br />Trustor before the execution of the Deed of Trust.
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<br />( e Clark, Trustor Husband)
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<br />s Trustor
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEEV OF TRUST, Is made as of the 5th day o1 June 190-2— by and among
<br />that Trustor,
<br />whose mailing address is 107 West 4th. Grand Island, NE 68801 (herein "Trustor," whether one or more),
<br />the Trustee, W +v I Am. g_ 01ACtehLrn- A m Mbey, of tie pg nfait a Bar Assn
<br />whose mailing address is $e0. Box __ 2280, Grand IslaV4 .. NE 68802 -2280 . (herein "Trustee'), and
<br />the Beneficiary. ,Five Points Bank
<br />whose maillnj) $ddress is -- 1? -e_ faux 1507. Grand TA7anA, NF fAa02 (herein "Lender').
<br />FOR VALL•iAfU CONSIDERATION, including Lender's extension of credit identified herein to Mennath F. JUark
<br />and PhylL A. Clark (herein " Gortower ", 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 />Lot Thiee (3). Block eighteen (18) Wallich•s Addition to the City of Grand:
<br />lslama.- --sari -Comm, NE' commonly known as 1115 west 6th Street
<br />Together with all buildings. improvements. fixtures, streets, alleys, passageways. easements, rights, privileges and appurte
<br />stances located thereon or in anywise p6ttaining thereto, and the rents, issues and profits, reversions and remainders there's(; and
<br />such personal property that is attLched to thi6 improvements so as to constitute a fixture, including, but not limited to, healfng, and
<br />cooling equipment; and together with the l-omestead or marital interests, if any, which interests are herehy naleased and wanted; all
<br />of which, including replacements and additions thereto, is hereby declared to be;a.pan of the real estate secured by the lien ct this.,
<br />Deed of Trust and all of the foregoing being referred to herein as the " Propeityi` ",: ;
<br />This Deed of Trust shall secure (a) the payment of the principal slim and interest evidenced by a promissory note'ctr credit
<br />agreement dated 6 5 89 havirg a maturity date of 6/5/96
<br />in the original principal amount of $ 00 and arty and at! modifications, extensions ar". f renewals
<br />thereof or thereto and any and all futurb•advances and readvances to Borrower (or any of Them if more than one) hef'eunder
<br />pursuant to one or more promissory notes ei r credit agreements ( herein called "Note "); (b) the Payment of other sums advei;ced by
<br />Lender to protectthe security of the Note; (c) the performance of all covena n:s and agreements of Trustor set forth herein; and (d) aft
<br />present and future indebtedness and obligations of Borrower (or any of them ' 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 executed in connection therewith, inc:uding without (imitation guarante3s, security
<br />agreements and assignments of leases and rents, shall be referred to: herein as the 'Tc+an Instruments ".
<br />Trustor coventarlts and agrees with Lender as follows.
<br />1. Payment Of Cttdabtadnasa. All indebtedness secured hereby shall be paid when due_
<br />2. Title. Trustor 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 />delivered to Lender before execution of this: Deed of Trust, and the execution l and delivery of this Deed of Yru.st does not violate any
<br />contract or other obligation to which Trustor Is subject
<br />3. Taxes, Assessments. To pay before delirquency all taxes. special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />4. Insunnea. 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 raminq Lender as an add:fional
<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 (t) 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 cblect 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 apprication cf 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 (II:) the premiums on any mortgage Insurance
<br />required by Lender.
<br />6. MainMnanea- Rapain and Compliance with Laws. Trustor Shall keep the Property in good condition and repair; shall
<br />prOmptty repair. Or replace any improvement which may be damaged or destroyed. shall not comma or permit any waste or
<br />deterioration of the Property; sh2l] not remove, demolish or substantially after any of the Improvements on the Property; shall not
<br />commit, suffer or permitany act to be done In or upon t!ro Property In violation of any law, ordinance. or regulation, and shall pay and
<br />Promptly discharge at Trustorb cost and expense all Irons. encumbrances ar.d charges rev.ed. imposed or assessed against the
<br />Property or any part tr•Kaie0f.
<br />7. Emkwl Domain. Lender is hereby assigned all compensation, awards datnages and other paymontu or relief (hereinafter
<br />"Proceeds*'; in connection with condemnation or other taking of the Proporti or par, thereof or for cunveyance in lieu of condemns•
<br />tion Lender shall be entdiod of Its option to Cory, rronco. appear In and Iu SMUte Ira ds own name any L10101" or proceedings and
<br />Shall also ire entitled to make any compromise or SelVern9nt In t,onnec-tion .v:lh ,j.;h faking n+ damage In tho event £ins portion of
<br />6-90 1151 rN .ey < r• bean R-v t J 88
<br />G 111`4Sr. •.is 4an. r, .,. I. -: c 4rt.,� :-•
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