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ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOR READ THIS BEFORE SIGNING: 89-104118
<br />Trustor understands that the document that Trustor Is about to execute is a Deed of Trust and not a mortgage and Mat the power
<br />of sale provided for in the Dead of Trust provides substanttatiy different rights and obligations to Trustor than a mortgage in the event
<br />i of a default or breach of obligation under the Deed of Trust, Including, but not limited to, the lender's right to have the Property sold
<br />by the Trustee without any Judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by
<br />Trustor before the execution of the Deed of Trust.
<br />r
<br />Trustor (Jean H. Its
<br />Trustor (Geralyn J. Williams)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST. Is made as of the 26th day of July , 1989 by and among
<br />l the Truator, 'TPAn M_ Its and Geraln J. Wilj.iama, as joint tenants and not as tenants i1 co(omon
<br />1 Grand Island, WE 688
<br />whose mailing address 1e 207 Wedgewood Drive, erein "Trustor;' whether one or more),
<br />the Trustiee, U.'illiam G. Blackburn, A McMber of the Nebraska State Bar Association _ ,
<br />whose mailing address is P.O. Box 2280, Grand Island, WE 68802 `herein 'Trustee "), and
<br />the Beneficiary, Five Points Bank ,
<br />whose mailing address is P.O. Box 1507, Grand Island, HE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, including Lenders extension of credit Identified herein to Jean M. Ita and
<br />Geralyn J. Williams- (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,.M ITH POWER OF SALE, for the benefit and security of Lend r, under and subjecito the terms and conditions hereinafter set
<br />tom' a foal property, described as follow Lot Nineteen x191 of Roush Pleasantville Terrace Subdivision,
<br />Ro Surdivision of Lots Twenty t20), Twenty One (Z1), and the West 313' of Lot Thirty (30) of
<br />Matthew's Si:bdivisipn of part of the No�thwest Quarter (NW%).' of Section Twenty Seven (27), - --
<br />Township Eleven (11) NortI�, Range Nine (9) West of the 6th P.M., Ball County, Nebraska
<br />I Together with all buildings, improvements; fixtures, streets, alleys, passageways, easements, rights, privileges and appurte-
<br />nances located thereon or in anywise pertaining thereto, and the rents, issues and profits, revers:ens 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 replacementsand additions thereto, ishereby declared to tie a part of the real estate secured by the lien of this
<br />Deed oFTrust and all of the foregoing 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 promissory note or credit
<br />agreement dated July 26, 1989 , having a maturity date of August 5, 1996
<br />In the.- original principal emount•of $ 70, 000.00 , and any and all modifications, extertslons 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 notes or credit agreements (heraln called "Note'): (b) the payment of other sums advw1ced by
<br />Lender to protect the security of the Note; (c) the performance. of alI covenants and agreements of Trustor set forth hereiman. d (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct; indirect,
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<br />absolute or contingent and whether arising by note, guarantrj. overdraft or otherwise. The Note, this Deed of Trust and any, and at!.:
<br />other docuentsthatsecure the Note or otherwise executed in connection therewith;.including without limitation guarantees,.pecirritg
<br />agreements and assignments of ceases and rents, shall be referred to• herein as the "Loan Instruments ".
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<br />Trustor covenants and agrees with Lender as follows:
<br />1. Payment of IndebMdnem- All indebtedness secured hereby shall be paid: when due.
<br />2 TNN. 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 and delivery of this Deed of Trust does not vidlate, any
<br />contract or other obligation to which Trustor is subject
<br />3. Taxes, AseesanNnts. To pay before delinquency atl taxes, special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term Vextended 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.
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<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: (i) all taxes. assessments and other charges against
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<br />the Property. (0) the premiums on the property insurance required hereunder, and, (ill) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. McWensince. Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall
<br />L promptly repair, or replace any improvement which may be damaged or destroyed, shall not commit 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 in or upon the Property in violation of any law, ordinance. or reguiation; and shall pay and
<br />promptly discharge at Trustor's cost and expense all liens. encumbrances and charges levied. imposed or assessed against the
<br />Property or any part thereof.
<br />7. Eminent Domain. Lender is hereby assigned all compensation. awards. damages and other payments or relief (hereinafter
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<br />"Proceeds ") in connection with condemnation or other taking of the Property or part thereof, o. for conveyance in lieu of condemna-
<br />tion. Lender shall be entitled at its option to commence. appear in and prosecute in its own name any action or proceedings, and
<br />shall also be entitled to make any compromise or settlement in connection with such taking or damage In the event any portion of
<br />NBC Do" R,. 10,88
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