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I 90- 105685 i ACKNOWLEDGEMENT OF DEED OF TRUST TRUSTOR READ THIS BEFORE SIC NIN0: '5a V - .rig - 3 W 5 B 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 obllgations to Trustor than a mortgage In the event of a default or breach of obligation under the Dead of Trust, Including, but not limited to, the Lender's right to have the Property sold by the Trustee without any judicial procooding. Trustor represents and warrants that this acknowledgement was executed by Trustor ae the execution of the De N of Trust ueaan L. JeffretTrus o Eu ne e T sear etty LZOrtzel c'-pustor 1. DEED OF TRUST WITH FUTURE ADVANCES THIS DEED OF TRUST. Is made as of the 18 t day of October , 19_M by and among the Truslor, usan L Jeffres. 4A Si Betty L. Wetzel. A Single Woman. end en . Jerfres, A"M a�rie'd�an ' whose mailing address is .t- 2. Box 2141). Gibbon, AL (herein "Trustor." whether one or more), the Trustee. L!1 land B. JQn _qg whose mailing address to 1218 L St . t, .Aurora, NE 68818 (herein •Trustee"), and the Beneficiary. VJ2_F_Jfl_T._J4A_T.J0.NAJ. PAKK. QF M.AFQUE_TTE._ NEBRASKA -- whose mailing address is P • 0. Box 3 9,_ M a rgu e t t• e . N E 68854 (herein "Lender "). FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to v_u L._ J _effres & Betty L • I�ft .zel & Eugolit W., of freg (herein "Borrower ", whether one or more) and the trust herein created. the receipt of which is hereby acknowledged, Trustor hereby Irrevocably grants, transfers. conveys and assigns to Trustee, IN ' TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property, described as follows: Lots 1 the 5 including an 8 foot strip and adjoining on the South, East 1/2 of Lot 7 and lots 8 thu 10, including an 8 foot strip adjoining on the North, All in Block 11. Baker's Addition to the City of Grand Island, Hall County, Nebraska Together wairn PI'. buildings, improvements, fixt4ires. streets, alietts, passageways, easerner:s rights, privileges and appurle- nances located thereon or in anywise pertaining 1heivtc% and the rents. Issues an:d violas. reversions and remainders thereof, and - such personal property that m attached to the improvamv,)ls so as to constitute a fixture, including, but nal L -.reed to, heating and Cooling equipment; and together with the homestead or r•rarltal interests, it any, which interests are herehy released and waived; all of which, including replacements and addlfar ns 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 Dead of Trust shall secure (a) the payment of the principal sum and inteReat evidenced by a promissory note or credit �! i agreement dated October 1. _MQ A III ro wafliev,rg a maturity cate of .sober 1. 1995 A all renewal Is in the original principal errwunl of S 158,250.00 ----- - - - - - -^ -arse any and all modifications, extensions and renewals thereof or thereto and any and a01 future advances anc readvances to Borrower (or any of them of more than one) hereunder a. pursuant to one or more prornissory aoury or credit agicen+ents (herein called " Nior•e"). lb) the payment of other sums advanced by — Lender to protect tyre security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) air present and future indebtedness and obligations of Borrower (or any of them it more than one) to Lender whether direct, indirect. . absolute or contingent and whether arising by note, guaranty, overdraft or otherwise The Note, this Deed of Trust and any and all other docuente that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "t can Instruments" Trustor covenants and agrees with Lender as follows: 1. Payment of Indebtednesa. All indebtedness secured hereby shall to paid when due 2. Title. Touralof is the uwner of Ine firoperty, has the fight and authority to convey the Property, and warrants that the lien created hereby is a first and prior lien on the Property. except for liens and encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Trustor is subject 3. Taxes, Asessantsnte. To pay before delinquency all taxes, special assessments and all other charges against the Property now or hereafter levied, 4. inwrence. To keep the Fraperry insured against damage oy fire, nazaras incivaeo witnin the term •• extenseo coverage", and such other hazards as Lender may require, in amounts and with companies acceptable to Lender, tionling Lender as an additional named insured, with loss payable to the Lender. In case of loss under such policies, the Lender oil 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 heroby and in such order as Lender may determine. (fi) to the Truslor to be used for the repair or restoration of the Properly or (III) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust lot the full amount secured hereby before such payment ever took place. Any application 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 faxes, assessments and other charges against the Property. (II) the premiums on the property Incurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender. 6. Maintenance, Repalre 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 deterroratlon of the Property, shall not remove, demolish or substantially otter any of the Improvements on the Property, shall not commit. suffer or permit any act to be done in or upon the Property in violation of any law, ordinance. or regulation. and shell pay and promptly discharge at Truslor's cost and expanse all hens, encumbrances and charges levied. Imposed of asuessed against the Property of any pool thereof , 7 En*wl Domain. Lender is hereby assigned all compensation. awards, damages and other payments of relief (hereinafter r, , "Ptocoads" 1 in connection with condemnation or other taking 01 the Property Of purl Iher001 Of lot I.unveydnt:e of lieu of t.ondernrla tion Lender shall be entitled at its option to coil to" oil cu appear n1 iIml If Iowi is off ,I1 -Is u,vl, name any action or prix eeamjs ;init shall alto bu unfilled to make arty Lumprumise or ♦ettiemialt its eonnectioll w1111 Sus,11 lakniq of damage In IhH evenl .Ina polben of No r hakow%r. ,w.,,,. (awn Ma I i. M 0 11110111111611—W @I".# f,ww,�..• 1,..,, r,w �h••,pt am*.