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ACKNOWLEDGEMENT OF DEED OF TRUST 90-106051
<br />TIIUBTOR READ THIS BEFORE SIGNtl &
<br />Truster understands that the document that Trustor is about to execute Is a Deed of Trust and net a mortgage and that tha power
<br />of sale pmvkhd for In the Deed of Trust provides substantially different rights and obligations to Trudw than a mortgage In tine event
<br />of a default or breach of oblollon under the Dead of Trust. Including, but not limited to, the Lander's right to have the Properly sold
<br />by pte Trugee without any A41cial proceeding. Trustor represents and warrants that this acknowledgement was execustd by
<br />Tru W "bre the execution of the,Deed of Trust.
<br />d (Na k D. Ste k) Husband
<br />` (Wanda L. 3 e kTyustor Wife
<br />i�
<br />DElip OF TRUST WITH FUTURE ADVANCES
<br />THIS OEED.OF TRUST, ts made as of the .... dgll of ..,., SICtahr . 1O 90 by and among
<br />the Tr„stor, ,'.'X hrk D. Stelk '�nd Wanda L. 8ta) h , husband and wife?, each in his
<br />a oown r gf>vk , nd .as. s Dose of th other. 68801
<br />vrtnoee adtl�"a is.. , (herein '7rustor," whether one or more),
<br />the Treqes, - Five P©Jnta Bank, A Nebraska Corporation
<br />whom Is P.O. Box 1507, ....Grand Grand Island, NE 68802
<br />'.. (herein 'Tnulse' ), and
<br />t(t4 "n"clary, Fine Painta Bank
<br />whoeemaitlngaddrNe b P.O. Box 1507, Grand Island, NE 68802 (herein "Lender'
<br />MR VALUAGLk CONSMSRATION , including Lender's extension of credit WwdiRW herein to - Mark D. Ste1�r S
<br />Wanda - L. Stel t e husband & Vi f e(hereln "Borrower ", whether one or more) and the trust herein created,
<br />the receipt of which Is hereby acknowledged. Trustor hereby -irrevocably grante, transfers, conveys and assigns to Trustee, IN
<br />TRUST, tMTH POWER OF $ALE, for the benefit and security of Lender, under and subject to the terms and conditbns hereudpr set
<br />f Xft the roan property, described as follows;
<br />Lot Seven (7), Block One (1), Brentwood Second Subdivision'in the City
<br />of Grand Island,.,'Hall County, Nebraska.
<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 homestead or marital Interests, If any, which Interests are hereby released and waived; all
<br />of which, Including replacements and 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 refprrad.; o_hersin as the "Property ".
<br />This Deed of Trust shall secure (a) the paymerht of the principal sum and Interest evidenced by a promleacry note or credit
<br />agreement dated Octohar 4th. 1990 , having a maturity date of Anril 4, 1991
<br />In the original principal amount of s 9,433-87 , and any and all modifications, extensions and'renewals
<br />thereof or thereto and any aN 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 (herein called "Note" . (b) the payment of other &urns advanced by
<br />Lender to protect the security of the Note; (e) the performance of all covenants andagreements of Truster 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
<br />other docuents that secure the Note or otherwise executed In connection therewith, including without limitation guaransmim security
<br />agMwmrents and assigning; of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />Thvstor covenants and aggres+ with Lender as follows:
<br />I. Paymit of kadeblsdnew All indebtedness secured hereby shall be paid when due.
<br />Z. Title. Trustor Is the owner of the Property, has the right and authority to convey the Property, and warrants that the Ilan
<br />created hgrpby is a first and prior Ilan on the Property, except for Iwns and encumbrances set forth by Truster in writing and
<br />delivered to fonder before execution of this peed of Trust and the execution and delivery of this Dead of Truss does not violate any,
<br />contract or other obligation to which Trustor is subject.
<br />S. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br />now a henw6w Lmd"
<br />4. inehahvRoo. 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 shall have the.option of applying all or part of the insurance proceeds (I)to any indebtedness
<br />secured hereby and in suer order as lender may dsthermina, (ti) to the Truster to be used for the repair or restoration of the Prop"
<br />or (ill) for any other purpose or object satlafactory to Lender without effecting the lien of this Dead of Trust for the full amount secured
<br />hereby before such paynhsnt suer took pWce Any appUcetion of prooseds to Indebtedness shall not extend or postpone the des
<br />daM of any payments under file No*, or cure.any default thereunder or hereunder.
<br />5. Esohetr. Upon writlan demand by t.ertder, Tiustor shall pay to Lender, In such manner as Lender may designs*. 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
<br />the Properly. (ii) the ptwnlums on the property Insurance required hereunder, and (111) the premiums on any morl~ Insurance
<br />required t rryy lender.
<br />G. Mairtwrtahtce. Repair and CompNance with Laws. Truster shall keep the Properly 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 wade or
<br />dettricradon of the Properly; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not
<br />commit suffer or permltany 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 Trustor's cost and expense all flans, encumbrances and charges levied, imposed or guessed against the
<br />Property or any part thereof.
<br />7. EahkwA Domain. Lender Is hereby assigned all compensation, awards, damages and other payments or relief (hereinaflsr
<br />"Proceeds") In connection with condemnation or other taking of the Property or part thereof, or 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 />WWI also be entitled to make any compromise or settlement In connection with such taking or damage. In the event any portion of
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