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<br />ACKNOWLEDGEMENT 0P DEED .OF TRUST
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<br />BORROWER READ THIS BEFORE SIGNINal
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<br />Borrower understands that the document that the Borrower is
<br />about to execute is a Deed of Trust and not a mortgage and that
<br />the power of sale provided for in the Deed of Trust provides
<br />substantially different rights and obligations to the Borrower
<br />than a mortgage in the event of a default or breach of.abligation
<br />under the Deed of Trust, including, but not limited, to, the
<br />Lender's right to have the Property sold by the Trustee Without
<br />any judicial proceeding. Borrower represents and warrants that
<br />this acknowledgement was executed by it before the execution of
<br />the Dead of Trust.
<br />OLD SEARS DEVELOPMENT, INC. y' .
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<br />Ltunps A. Heft er, P ident
<br />"Borrowerftl
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST is made as of.the 9th day of
<br />August ,1989 . by and among the Truster, OLD SEARS DEVELOP-
<br />RENT, INC., a Nebraska corporation, whose• mailing address is
<br />P. 0. Box 790, Grand Island, Nebraska therein "Borrower ", whether
<br />one or more), the Truster:, Richard C. Reker, Attorney at Law,
<br />whose mailing adress is 1000 NBC Center, 13th & 110" Streets!
<br />Lincoln, Nebraska 68500 (herein "Trustee "), and the Beneficiary,
<br />THIS•OVERLAND NATIMIAL BANK OF GRAND ISLAND, whose mailing address
<br />is. 304 West Third Street, P. 0. Box 1688, Grand Island, Nebraska
<br />(herein "Lender ").
<br />FOR VALUABLE CONSIDERATION,: including the indebtedness
<br />idrrntified herein and trust herein created, the receipt of which
<br />ie hereby acknowlelge1, Borrower hereby irrevocably grants,
<br />transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER
<br />OF SALE, for the benefit and security of Lender, under and
<br />subject to the terns and conditions hereinafter set forth, the
<br />real property, described as follows:
<br />Lots One (1) , 'fro (2)' and the Easterly
<br />rorty -Four (40 Feet of Lot Three (3) in
<br />Block Sixty -Three (63) rz the Original Town,
<br />Now City of Grand Island, Hall County,
<br />Nebraska;
<br />Together with all buildings, improvements, fixtures,
<br />streets, alleys, passageways, easements, rights, privileges and
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<br />appurtenances located thereon or in anywise pertaining thereto,
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<br />and the rep :ts, issues and profits, reversions and remainders
<br />thereof, and such personal property that is attached to the
<br />improvements so as to constitute a fixture, including, but not
<br />1 haired too hfir&tinq And e0011619 er)uipment i aft tiayethek with thra
<br />homestead or marital interests, if any, which interests are
<br />hereby released and waived= all of which, including replacements
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<br />and additions thereto, is hereby declared to be a part of the.
<br />real estate secured by the lion of this Deed of Trust and all of
<br />the foregoing being referred to herein as the "Property ".
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<br />This Deed of Trust shall secure:
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