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ACKNOWLEDGEMENT OF DEED OF 'TRUST o�-1 037 2 4
<br />TRUSTOR READ THIS BEFORE SIGNING.
<br />Trustor lxtderstarrde that the document that Truster is about to execute is a Deed of Trust slid rtet a mi. tigif►ap wed that the power
<br />of sale provided for in the Deed of Trust provides substantially different rights and obligations to Truster than a motigspe lo the overt
<br />of a dshutt or txettetn of ob9gat3orn under the Deed of Trust, including %�mited to, the Lender's rWR b, h+Rvwi 1M Rropery soW
<br />by ate Tnalee without any juftlel proceeding. Trustor represents nd w rants that this acknowNdgemeia twos executed by
<br />Trustor before Mae wocullon of the Deed of Trust, ,
<br />(t� E. Clark, Truster Husib A)
<br />(Phyllis . Clark, Trustor wtite�
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS ICED OF TRUST, is made as of the ..329 -ly day •ef JU4 .19- ft..,, by and am M.
<br />clack and F>�allie �+ -; ��l�t�anc aaad wife ,
<br />whose teesiQ atUr is t o7 yia,�l A th... 3ard. NE. (herein " Trustor," whether one or more).
<br />the Tnstea; lfiillata G. Blackburn,, a menber of the NE- State Bar Assn.
<br />whose mailing address is F. o. E iz 22a0. Grand Island. NZ -611802-2280 ftrein "Trustee'), and
<br />the Beneficiary, live Points Baulk ,
<br />whose mailing address is P. 0. Box 1,§02. Grand Island, HE 68802 -1507 (herein "Lender').
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to v00"th S. Clark
<br />aural Phyllis A. Clark (herein °Borrower", whether one or more) and thet trust herein created,
<br />the receipt of which is hereby acknowledged. Trustor hereby irrevocably grants, transfers, conveys and designs to Trustee, IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Lander, under and subject to the terms and conditions hereinafter set
<br />forth, the rest property, described as follows:
<br />•�w�_- �__�•_ tea•__•_•__ City w•... a •... _-: n.,.s- e•.... - •.+l. -- - - - - - --
<br />Wt Trrs-0011- i+w ss'a SiiiLZA-w- artvaas visor of va,arm a1J4aYaYs awe w+eaityii ado -
<br />comi only ktwtrn as 511 N. Congdon
<br />Together with all buildings. Improvements, fixtures, streets, alleys, passageways, easements, rights, lifwilsgoe and appurte•
<br />nances located thereon or in anywise pertaining thereto, and the rents. issues and profits, reversions and rwu1ndera 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 �g1lI Mnent: and logeffner wirtlt+flfe horrnsitead or marit,All interests, it any, which intarests are hereby r*teased and waived; all
<br />of wfnirdu, udinp replacetrnenh at od additions thereto, is hereby declared to be a paitef•the real estate secured by the lien of this
<br />Dead a Trust and alt a1 the torepoirtp being referred to herein as the "Property ..
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a p6missory note or credit
<br />agreement dated July 12,19.$9 , havlr+g a maturity date of August 5, uiis,
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<br />in the original principal amount of S I3 .non -0i0 , and any and all modifications, ejdensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any of them. if make than one) hereunder
<br />Pursuant io, one or more promissory'notea or credit agreements (herein called "Note!); (b) the payment of. other suds advanced by
<br />Londerlofir~ Me security of the Notre; (c) the performance of all covenants and agreements of Trustor sift fortfr.herein; and (d) all
<br />Present 4nd future Indebtedness and obligations of Borrower (or any of theca if more than one) to Lendainwhether direct, indirect,
<br />absolute or contingent and whether arising by note. guaranty, overdraft or otherwise. The Note, this Oeei•'+, of Trust and any and all
<br />other docuetts that secure the 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. f)rayrrrllrti of IndebledoNso All indebtedness secured hereby shall be paid when due.
<br />2. TIMs. Truster 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 Truster in writing and
<br />: delivered to Lender before execution of this Deed of Trust and the execution and delivery of this Deed of-Trust dos* not violpte any
<br />contact or other obligation to which Truster is subject.
<br />3. Tads, Aaeeemmonls. To pay before delirquency all taxes, special assessments and all other charges against the Property
<br />now or heeaftsr levied.
<br />+. L- Axwence. To keep the Property insured against damage by fire, hazards included within the terns +^extended coverage and
<br />such th r hazards as Lender may require, in amounts and with companies acceptable to Lender namir(g Lender as an additional
<br />named kqured, with Idea payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />comprorN". all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any Indebtedness
<br />secur4hWeby and in such order. ox Lender may determine, (ii) to the Truster to be used for the repair orrestoration of the Property
<br />or (iii) f(lo srt� other purpose or ebjertsatisfactory to Lender without affecting the lien of.tfivs Deed of Trust for the full amount secured
<br />heroes before suo''l *viont over took place. Any application of proceeds to indebtedness shall not eidend or postpone the due
<br />` dab, of" payri mu�rtinde the Nose, or cur's ani'defaulttbersunder or. fkreafder.
<br />!�: k ites►. Upon written demand by Lender, Truster Via',; pay to Lender, in "Ofv manner as Lender. ,-nay diesignate, sufficient
<br />sinhs,�tttalble Lender to pay as thayr txrcome due Onect rlidt of the followin(y' (iyali tltil39, essessmentA andohttaschargss against
<br />tb�f tsjrtttty,. (ii) the pa4miums on the property inLUrancefe�'ired hereunder, and.(lfl) t)�8 p►emrums ran arty mortgage insurance
<br />'carqurnfMd`fiy Lender.
<br />� a: MaifNsaarls'�. :.19'ipairs and CorapNamo! twlMn Laws. Truster shall keep the Property in good condition and repair: ahalll
<br />proA.rspait, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste Or
<br />deMrlplittiRn Of the Property; ahaii ttCt remove, demobih or substantially alter any of the improvements on the Property. shall not
<br />Conlow ;eiiffer or permit any act to be don* In or upon the Property in violation of any law, ordinance, or tegulotion; and shall pay and
<br />prompsly discharge at Trustor's cost and expense all liens, encumbrances and charges levied. imposed or assessed against the
<br />Properly or any part th:erscf.
<br />7. NWA* d Dowain. Lender is hereby assigned all compensation, awards, damages and other pryyrnents or relief (herelnaffor
<br />"Proceeds') in connection with condemnation or other taking of the Property or part thereof, or for conveyance in Iteu of condflmna-
<br />t,on. Lender shaft be entitled at its option to commence. appear In and prosecute In its own Panic any action or proceedings. and
<br />shall 61e0 be entitled to make any compromise or settlement in connection with such taking or dattle ji! In the event Any portion of
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