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ACKNOWLEDGEMENT OF DEED OF TRUST 890,,, IL Q 3 S 81
<br />TRUSTOR READ THIS BEFORE SIGNING:
<br />Truster understands that the document that Trustor is about to execute is a Deed of Muni and onta mortgage and that the power
<br />of sate provided for In the Deed of Trust provides substantially different rights and obligations to n'ustgr.tttan a mortgage In the ewnt
<br />of a default or breach of obligation under the O ad of Trust, including, but not limited to. the Landor's Vaht to have the Property sold
<br />by the TrueNs without any judicial proceeding. Trustor represents and warrants that this ackitewladgement was executed by
<br />Trustor before the execution of the Deed of Trust.
<br />. �`.
<br />Trr ustor sy e s
<br />Trurfmr(Veda M. Wibbels)
<br />i
<br />I DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST is matqa as of the 25th da of 19$�— by and among
<br />Ray C. ill' P a and Veda M. W�bbels, husband and-wife, each in
<br />l
<br />the Trustor. his own . right and as spouse of the other
<br />whose mailing address Is Route 1,Box 89, Wolbach, NE 68882 (herein',''Trustor;' whether one or more),
<br />i the Trustee. Williaia G. Blackburn, a Member of the Nebraska State tar Association
<br />whose mailing address Is P.O. Box 2280,, Grand Island, NE 68802 (herein "Trustee'!, and
<br />the Beneficiary, Five Points Bank
<br />whose malting address is P.O. Box 1507, Grand Island, NE 68802
<br />(herein "Lender'7.
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Ray C, Wibbels and
<br />Veda M. Vibbels, husband 6 wife (herein "Borrow' er.", whether one or more) and the trust herein created,
<br />the receipt of which is hereby acknowledged, Trustor hereby irrevocattl grants, triiWers, conveys and assigns to Trustee, IN
<br />TRUST; WITH POWER OF SALE, for the benefit and security of Lender, under. arW sub+jectto the terms and conditions hereinafter set
<br />forth, the real property, described as follows:
<br />Lot Three (3), in Block One (1), in Jack Voss Second Subdivie'fdn,
<br />hall County. Nebraska
<br />Together with alt buildings, improvements, fixtures, streets, alleys, passageways, easements.. rights, privileges and appurte-
<br />nances located there.an 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 equipment; and together with the homestead or marital interests, if any, which Interests are hereby released and waived; all
<br />of which, including replacementsapad additions 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 of Trerst.shall secure (a) the payment of the principal surer. and Interest evidenced tsy„ttl promissory note or credit
<br />I Jtilq 25, 1990
<br />agreement dated June,' �rW: 1989 , having a maturity date off. ,
<br />in the original principal amount tfr $ 42,000.00 , and arty and,zWt . modifications, extensions and renewals
<br />thereof or thereto and. any and all' future advances and readvances to Elorrowbr. (o r, ai^y of them if more than one) hereytttder
<br />pursuant to one or more promissory notes or credit agreements (herein called " gte%lbp.ttte payment of other sums advanced-by
<br />Lender to protect ti e.secur €ty of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and td) all
<br />present and future indebtedness and obligations of Borrower (or any of them it more than one) to Lender whether direct, indirect,
<br />absolufp of contingent and whether arising by note, guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />j other docuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and ainments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />7...1111yi1 lnot of Mdsbledness. All Indebtedness segued hereby shall be paid when due.
<br />2.. Ti o. 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 iii writing and
<br />delivered to lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does not violate any
<br />contract or other oblig IOn to which Trustor is subject.
<br />3. Taxes, Assessimilib. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />4. nsunsme.To keep the Property insured against damage by tire, 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;7hsured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />compron lse, 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 - or (ill) 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 />S. 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: (r) all taxes, assessments and other charges against
<br />the Property, (i€) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />L 6. MaieDenance. Repairs and Compliance 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 comma or permit any waste or
<br />deterioration of the Property, shall not remove, demolish or substantially alter any of the improvements on the Property: shall not
<br />commit, suffer or permit any act to be done to or upon the Property in violation of any law. ordnance, or regulation, and shall pay and
<br />Promptly discharge at Trustor's cost and expense all hens, encumbrances and charges levied. imposed or assessed against the
<br />Property or any part thereof
<br />7 En+kwit Domain. Lender is hereby assigned all compensation, awards. damages and other payments or relief thereinafter
<br />"ProceedV') in connection with condemnation or other taking of the Property or part thereof. or for conveyance in bell of condemna-
<br />tion Lender shall be ent,tied at its option to commence. appear in and prosecute to its own dame any action or proceedings and
<br />Shall also be entitled to make any compromise or settlemonl in connec uon wjth sach taking or danrary "i th£! ever +t tiny portion of
<br />0 'tKC FWM ,'-.P 881A ci CC--^ ,* t..»+ rd 5,,.. -., , wew
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