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ACKNOWLEDGEMMT OF DEED OF TRUST
<br />TRtISTOR ftEl1D THIS BEFORE SIGNING: 89 e i Ls p
<br />Trustor undentanda that the document that Ttustor is about to execute Is a Deed of Trust and not a mortgage and that the power
<br />of sale provided for in the Deed of Trust provides substantially different rights and obligations to Trustor than a mor%me In the event
<br />of a default or broach of obligation under the heed of Trust including, gut 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 acknowfadgernw. was executed by
<br />: Trustor before the execution of the Deed of Trust
<br />E
<br />(Gerald D. F derikeen)
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<br />€ Truster (L. June Frederiksen)
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<br />1=0 00 TRUST' WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST,, is maPrl? as of the 23rd . day .bi August , 19 S4 by and among
<br />Me Trustor. Ger&lid D. Friiiri+b'riksen ;;;4 L. June Fr tril en i 9' d and wife,- each_ In his- own
<br />rigkt and � .�,tiouse of .tthe
<br />whose mailing addresri is 4� � ::S�$ Bend Road, Grand Island - h'fli -.'(herein "Trustor." whettr.�er.one or more),
<br />Me Trustee, Vii2iam.. �.. llackbu A Member of the Nebrask State Bar AssocLslt 10:2,`-. -. -
<br />7-..0. Box C Grand Island, NE 68802
<br />whose mailing addr�assis� ' (herein "Trustee "j, and
<br />the Beneficiary, Five Fcli is Batik
<br />l �r7:..' Bexs 1:507, Grand Island, NE 6 ,8,141`.
<br />whose mailing address is (herein "Lender'.
<br />FOR VALUABLE CONSIDERA, �-, including Lender's extension of credit identified iTerein to Gerald D. Frederiksen
<br />6 L. June Fsederiksen, >ir�sband 6 wife (rerein "Borrower", whether, Cps 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, WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set
<br />forth, the real property, described as follows:
<br />Lot Three (3), Shady Lane Subdivision, Hall County, Nebraska
<br />Together with all buildings, Improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurw-
<br />nances located thereon or in anywise pertaining thereto, and the rents, issues and proffs, reversions and remainders thereof, and
<br />such rt rv-, dal property that is attached to the improvemento so as to constitute a fixture, ir,,:.tuding, but not limited to, heating and
<br />cooling<tat"Ipment; and together with the homestead or rear ta. interests, if any, which'e;.h faints are hereby released and waived, all
<br />of which. including replacements and additions thereto, is 'hereby declared to be a part di Vice real estate secured by the lien of this
<br />Dead of Trust 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; iyv4danced by a promissory note or credit
<br />agreement dated August 23, 1989 having a maturity date df . August 23, 1992
<br />in the original principal amount of $ 6 - 111 -42 . , alrrf any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvanceS im rinirower (or any of them if more then one) hereunder
<br />pursuant b one or more promisscry notes or credit agreernw.14. 1rere,n oiled "Note'), (b) the payment of other sums advanced by
<br />Lender to protect the security of tyre f idte; (c) the performan,,93 u1 nil covenants and agreements of Truster set forth herein; and (d) all
<br />present and future indebtedness arrl obligations of Borrawray (Cr any of them it more than one) to Lender whether direct, indirect,
<br />absolute W contingent and whether arising guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Noteor othef#ise wmcuted r• t connection therewith, including without limitation guarantees, security
<br />agreements and assignments of teases and t6� s, shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. PayntaM of 1 d 1,1 d a. All indebtedness secured hereby shall be paid when due.
<br />2. Tire. Truster 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 />con.!sect or ether obligation to which Trustor is subject.
<br />3. Team Ai eo-e enbe. To pay before delirquency all taxes, special assessments and all otter charges against the Property
<br />now or hereafter levied.
<br />4. Imuranoe. 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 foss 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 />secuted heroby 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 hen of this Deed of Trust for the full amount secured
<br />hereby before such payment ever took place. Any appucation of proceeds to indebtedness shall not extend or postpone the due
<br />date of any payments under the Nob, or cure any default thereunder or hereunder.
<br />o. *u'fow. tWn writion aomand by Lender, 1rustor snail pay to Landes, in such manner as Lender may designate. sulfiCienl
<br />sums to enable Lander to pay as they become due one or more of the following (,) all taxes, assessments and other charges against
<br />the Property, (ii) the premiums on the property insurance required hereunder, and (ill) the premiums on any mortgage insurance
<br />required by Lender.
<br />6 MsM1bNMtte, IMepeire and Conrpi1ance with Laws. Trustor shall keep the Property If good condition and repair, shall
<br />promptly repair, or replace any improvement which may be damaged or destroyed. shall not comma or permit any waste of
<br />d*W Watson of the Property, shall not remove, demolish or substantially after any of the impyovernents on the Property, Shall not
<br />commit suffer or perms any act to bee done in or upon the Property in violaiton of any law, ordinance, or regulation, and shall Ray and
<br />promptttr discharge at Trustot-s cost and expense aft Vet's, encumbrances acid Charges levied, imposed or assessed against the
<br />Properly or any part thereof
<br />T ErtrieteM OerriieMt. Lender is hereby attsigned alt tonrpensafcorr, awarels. damages artdClther payments nr rghef (hereinafter
<br />°ProceWs'i ire connect,rn with condemnation or other taking of tPo Property of part thereof, or for cci ivef, }ttCe m lieu of Condernn:t-
<br />t;Gn to"der shalt be antwod at its option to cornrnence. APSicar in and prosecute w, its owis riar -,n wny action or ptcceedings rind
<br />eha'1 arse to er,f,t4d to matte any Comprornis& or ryememet,l in Connocl :Gn with SUL1i taiv „y or dama,4o. in the event any uotlion of
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