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ACKNOWLEDGEMENT OF DEED OF TRUST 89--a 104119
<br />TRUSTOR READ THIS BEFORE SIGNING:
<br />Trustor understands that the document that Trustor Is about to execute is a Deed of Trust and not a mortgage and that the powor
<br />of sate provided tar in the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the sent
<br />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
<br />by the Trustee without any judicial proceeding. Trustor represents and warts that this acknowledgement was executed by
<br />Truster before the execution of the Deed of Trust. cs�
<br />Trustor oxi► G.LarKill
<br />Trustor (Lori L. Clark)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />f THIS DEED OF T .,UST is de as of e d of July .19 89 by and among
<br />xy Clark and Lori �t .�, us an an tiTife, each in oxn
<br />TNStor. right and as spouse of the other ,
<br />the
<br />whose mailing address is 386 North Pine, Grand Island, NE 68801 (herein "Trustor;' whether one or more),
<br />I
<br />the Trustee. William G. Blackburn, A Member of the Nebraska State Bar 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 mailing address Is P.O. Box 1507, Grand Island, NE 68802 (herein "Lender').
<br />' FOR VALUABLE CONSIDERATION, Including Lender's extension of credit identified herein to ROM Clark and Lori L.
<br />Clark, Husband and Wife (herein "Borrower ", whether one or more) and the,truist herein created,
<br />the receipt of which Is hereby acknowledged. Trustor hereby irrevocably grants, transfers, conveys and signs to Trustee. IN
<br />TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and cot .rditions hereinafter set
<br />tordr, the real property. described as follows:
<br />I Lot Three (3), in block One (1) in George Loan's Sabdivit;iou, at -- - - - - -- -- -
<br />a Addition to the City of Grand Island, Hall County, Nebraska
<br />commonly known as 611 East 13th Street
<br />! 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, 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 herrestead or marital interests, if any, which interests are hereby released and waived: all
<br />of which, including replacements and additions thereto, is hereby decrared 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 Trust shalt secure (a)•ifte payment of the principml sum and interest evidenced by a promissory note or credit
<br />I agreement dated July 31, 1989 . , having rnaturity date of August 5, 1996
<br />in the original principal amount of $ 10, 000.00 , and aryl' and all modifications, extiensions and renewals
<br />thereof or thereto and any. and all future advances and readvances to So= .4er (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes. or credit agreements (here-in. called "Note "y, (b) the payment of other sums; adaunced by
<br />Lender to protect the security of the Note,, (c) the performance of all covenants and agreements of Trustor set forth herein: and (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if 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 f
<br />othlerdocuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security p'
<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. Payment of Indebtedness. All indebtedness secured hereby�.shall be paid when due. '
<br />2. Tittle. 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 violate any ` •: .
<br />contract or other obligation to which Trustor is subject t'
<br />3. Taxes. Assessments. To pay before delinquency all 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 "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 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 shalt have the option of applying all or part of the insurance proceeds (i) toany 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 (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.
<br />S. Escrow. upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate, sufficient j
<br />sumsto enable Lender to pay as they become due one or more of the following: (t) all taxes, assessments and other charges against 1
<br />the Property, (ii) the premiums on the property insurance required hereunder, and (w) the premiums on any mortgage insurance
<br />required by Lender.
<br />L 6. Makwasiewe, Repairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair, shall
<br />prom ptly 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 regulation, and shall pay and
<br />promptly discharge at Trusty's cost and expense all tens, encumbrances and chargoa lovied. )mpased or assessed against the
<br />Property or any part thereof.
<br />7 1E Domain. Lender is hereby assigned all compensation. awards. damages and other payments or rei,ef thereinafter
<br />`Procefads.) in connect on with cQndemra'.:on or other taking of the Property or part thereof or for ccnvEiYance )n !.eu o` conderrn
<br />t on Lender shati be entdled at its opt on to commence appear •n and ptcsc,,:'jte — its ohn name any aCh to cr Croccuding5 and
<br />sha!: Wso be entwed to make atni currp,om" se ':t setrerrenr -n conngcr.or; v%-ft, 5 _)r:r nk,no or damage 7n ;'le (•.er••t tiny Parfion of
<br />41.: it.'?,f4.Aw.._'t. +Y(,`.,CyRNI ; t as
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