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<br />- -_ -_ -- — - Q '111 -no2
<br />ACKMOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOR READ THIS BEFORE SiGNIM:
<br />94120
<br />Trusts understands that thedocurnsent that Trustor Is about to execute is a Deed of Trust and not al mortgage and that the power
<br />of sale provided toxin this Deed of Trust provides substantially different rights and Obligations to Trustor than a mortgage in the event
<br />r , of a defouttor breach of obligation underthe Deed of TrusiL including, tut not lim' to. the Lender's right to have the Property sold
<br />by the TrusNe without any judicial proceeding. Trustor represents, and winian that this tscknowledgement was ea Lftd by
<br />Trustor before the execution of ft Deed of Trust !
<br />Trustor (VennetN" E. Clam
<br />v 61, a. .
<br />Trustor (Phyllis A. Clark)
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 3I st day of _ July 19 89 by and among
<br />Venneth E. Clark and Phyllis A. Clark, Husband and Wife, each lii- s own
<br />this Trustor, _right and as spouse of the other
<br />f
<br />whose mailing address is 107 West 4th, Grand Island, NE 68801 (herein "Trustor;' whether one or more),
<br />s theTrustse, filllfaw C Rlael;hlrn. A No-mher of the NehraairA State Ha nsociation
<br />whose mailing address is P•0• Box 2280, Grand Islands NE 68802
<br />. (herein "Trustee"), and,
<br />{' Five Points Bank
<br />ihq Beneficiary.
<br />Whose mailing address is P.O. Box 2507, Glossa Islaad, NE 68802 (herein "Lender").
<br />FOR VALUABLE CONSIDERATION. including Lenders ex!aaWin, of credit identified tierern to Venneth E. Cli=k and
<br />Phyllis A. Clark, Husband S Wife (herein "Borrower", whether one or more) and the trust hc:eiit created,
<br />the receipt of which is hereby acknowledged. Triitfutr hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />J TfF?IUST, WITH POWER OF9.Iiu,E. for the benefit serwnty of Lender, and nd subject to the terms and conditions hereinafterset
<br />Wrth, the real properryy di awibetl as follows. 1 t
<br />The South Sb.Z.Feet of Lot One (l), Blcck` Railroad Addition to'tke
<br />City of Grand!. island, Hall County, Nebrrufka commonly known as 418 North drib =
<br />Together with all buixIbnigs, improvements, fixtures, streets, alleys, passageways, easements, righte,'privikeges and appurte-
<br />nances located thereon or :rn anywise pertaining thereto, and the rmrts, issues and profits, roverslons and remainders thereof, and
<br />i such personal property that is attachod trsihe improvements so as w constitute a fixture. rnciudinjg, but not limited to, heating and
<br />i. cooling equipment; and tq,;N her with this homestead or marital interests. it any, which interests are hereby released and waived; all
<br />C•f which, including reptaciii n+entsand additions thie.etc, is hereby declared to be a part of the real estate
<br />vg, cared by the lien of this
<br />Deed of Trust and all of t1sr. 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 ncla or cred
<br />agreement dated July 31,. 1989 ___, having a maturity date of __ Aygurst 5, 1996
<br />in the original principa! ;rm 15 v 000.00. and any and al! modifications, of anions and renewals;
<br />thereof or thereto and any and ill future advances and readvances to Borrower (or any of them if mcre than anei' hereunder
<br />pursuant to one or more promissory ;totes or credit agreements (herein called "Note'); (b) the payment of other sums advanced 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 indebted ,ess and obligations of Borrower (or any of them it more than one) to Lendrr Af'ether direct, Indirect,
<br />absolute or contingent and whether arising by no!e; guaranty, overdraft or off erwise. The Note, this 0601 al Trust and any and all
<br />other docuents that seciA the Note or otherwise exteculed in connection therewith, including without iinrl,Ttlr3rl guarantees, security
<br />agreements and assignments of leases and rents, qta :l by referred to herein as the 1 oan Insirurrews" .
<br />Trustor covenants and agrees with Lender as la,io «s.
<br />1. PayleMit of Mdabl drim. All indebtedness 4sftured hv-4r Tt shall be paid when due.
<br />2. Tike. Trustor is the-owner of the Property, ijaa the right and authority to convey the Property, acd warrants that the lien
<br />crested hereby is a of it and prior lien on the Proom +:y, except for hens and encumbrances set fort's by Trustor in writing and
<br />delivered to Lender betgiti execution of this Deed of Trust, and the execution and delivery of tbia Deed of Trust does not violate any
<br />contract or oll.iei ohi,ggUps� to which Trustor is subject
<br />3. Taxes, Aseesom4it(ti. To pay before delinquency all taxes, special assessments and rlil rather charges against the Property
<br />now or hereafter levied.
<br />4. Inewance. To keep the Property Insured against damage by fire. hazards included within the term "extended coverage', ands
<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 undo; such policies. the Lender is authorized to adjust, collect and
<br />compromise, all claims thereunder and shat! have the option of applying all or part of the insurance proceeds (r) to any indebtedness
<br />secured hereby and In such orders Lender may determine, (ri) to the Trustor to be used for the repair or restoration of the Property
<br />or (u►) 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 />dais of any payments under the Note, or cure any default thereunder or hereunder
<br />5. Eu rew. Upon written demand by Lender. Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />zu; zto wtab leLsr4r-i Qpnrs*tl' *yEfttome►dueoneormoreofthefoll owing:( ij arttaxes. assessmentsandotherchargesagainst
<br />the Property, (ii) the premiums on the property insurance required hereunder. and (ii) the premiums on any mortgage Insurance
<br />required by Lender
<br />6. McMlNnenee. R"W" aria CarsOWnte wMh Lawn. 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 commit or permit any waste or
<br />daleriorshon of the Property, shall not remove, demolish or substantially alter any of the improvements on the Piopetty, shall not
<br />commit, sutler Or permit any act to be done In or upon the Property in violation of any law. ordinance. or regulation, and sliall pay and
<br />promptly discharge et Trustor's cost and egionse all liens, encumbrances and charges lowed. imposed or assessed against the
<br />Property of any part therect
<br />T GwNriant Dernain. Lender rs hereby assigned all compensation, awards, darnuges ni:d other payments or relief theiemaftor
<br />P(oceeds') In connection with condemnation or other taking of the Property or part diereot. or for conveyance m Liu of condemna
<br />tion Lender shat! Ge entitled et as opt, Ott to Cdrrimarce. Oppear in and prosecute +:T its awr, name any action n► preceediogs. and
<br />shall a'w 6e efit,lied to 1`106 anq cety- iranbse ar neftlemetrt fin corrnel;M) wAt, ;uc fir taking or damage In the evml avy porfirin of
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