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ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOR READ THIS BEFORE SiGNiNG.
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<br />90--a 106277 -- -
<br />Trustor understands that tM document that Trustor 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 mortgage In the event
<br />of a default or breach clobligation under the Deed of Trust. Including, but not limited to, the Lender's right to have the Property sold
<br />by the Trustee without any ludicW proc*Wiog. Trustor rapr-sonts and wu- rtant3 that the n !�^�s,,. a_°*t *, Wa...is eYeCUL -S by
<br />Trustor before the execution of the deed of Trust
<br />(Jose S. f Ferguson Irrusto
<br />(Ca Brine M. Ferguso *or
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, Is made as of the 31 sit day o1 OCtaber 19-10- by and among
<br />the Trustor, Josepim f3. Fern. on and Catherine AR Ferguson husiaand and wife ,
<br />whose mailing address Is AM E ._1°� 1102101ix Ave_, Crand Istartcj, Sc lgerein "Trustor;' whether one or more),
<br />"Trustee, Five I ditlits Bank of Grand Island, Nebraska. a Nebraska Carporatfork ,
<br />whose mailing address is P.O. J63C,44, S07. Grand Isla(l.)r,,j, NE 68802-1507 (herein "Trustrte'), and
<br />the Beneficiary, Five Points Rank. Grand IslangL Nebraska
<br />whose mailing address is P -O- Box 1507, Grand AsCand Nebraska 68802 -1507 Oarein "Lender').
<br />FOR VALUABLE CONSIDEMATiON, including Lenders exi!engton of credit identified herein to Joseph R. Ferguson
<br />E Catherine tit Ferguggrn (herein "Borrower ", whether one 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 ag :4rlows:
<br />The Easterly Sixteen (1f) Feet of Lot Fourteen (14), and the Westerly Fifty -Nine and
<br />Twenty -One Hundredths Ii59.21) Feet of Lot Fifteen (15) , in Black One (1) , in aM-
<br />Air Addition to the City of Grand! Island, Hall County, Nebraska.
<br />Together with all buildings, improvements, 0irwres, streets, alleys, passageways, easements, rights, privileges and appurte-
<br />nancas lacatod thcr=n or in wryw pertaining, :yet% and the rents, iaai tae and pmfitc, mvAraions 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 lie liarnestead or marital interests, if any, which interestsare hereby released and waived; all
<br />of which, including replacements and: additions hereto, is hereby declared to be a partof t1ri, n8ai estate secured by the lien of this
<br />Deed of Trust and alt •af` 11Te foregoing being retived to herein as the "Property".
<br />This Deed of Trust shall secure (pit the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreement dated October 31,. M90 having a maturity date of - Painuary 29, 1991
<br />In the original principal amount of fj 52. 500-POD and any and all modifications. extensions and renewals
<br />thereof or thereto and any and all future adv ocer and readvances to Borrower (or any of them if mani ran one) hereunder
<br />pursuant to one or more promissory notes or creole agreements (herein called "Note'); (b) the payment of ati *er sums advanced by
<br />Lender to protect the security of the Note; (c) the performance of all covenants and agreements.e Trr,;gtar set forth herein; and (d) all
<br />present and future indebtedness and! obligations of Borrower (or any of them if more than one) u;. Lender whether direct, in6recta,
<br />absolute or contingent and whet- -errarising by note, guaranty, overdraft or otherwise. The N(2iv, ir:s Deed of Trust and any amtall
<br />other docuents that secure the N©Ir? or otherwise executed in connection therewith. including wd ^gut limitation guarantees, securtr; .
<br />agreements and asstrpiirrents cf,•,6ases and rents. shall be referred to herein as the "Loan Instruments ". :
<br />Truster covenai,t'a ara egrc es with Lender as follows:
<br />1. 74 man! of Indebted�ues. Pit. indebtedness secured hereby shall be paid when due.
<br />2. Mw Trustor is the ownei, . at he Property, has the right and authority to Convey the. Property, and warrants that Zia lien
<br />created hereby is a.first and prior Kim on the Property, except for liens and encumbrances set forth by Trustor in wriniiq and
<br />delivered to Lender,b(4- are execution of this Deed of Trust and the execution and delivery of this Deed of Tri_st:dees not vi:61MM� any
<br />contract or other obli,iown to which Trustor is sul ii%t
<br />3. Taxes, Assaeem Butts. To pay before delitiquiancy all taxes, special assessments and all other charges against the Property
<br />now ar h4reafter leb(ad-
<br />a,.. flm mane. To l-Rep the Property insured against damage by fire, hazards included wt`,hirr the term 'extended coverage', and
<br />such atltni. Mzardsas lender may. require, in amounts and with companies acceptable to I4eiidtvr. naming Lender as an additional
<br />named! irnairi d „w Jt{ li iu•payabYe� is llw Lender. In case of loss under such p !!flies: the La:rdnr ;s authorized to adjust, collect and
<br />C(Smptritlg� :�-L• t lain 9;.111creunder and shall have the option of applying a: ar,p;ul_ uf'llie nlsieyin.le proceeds (j) to any indebtedness
<br />securest. °Irerc -i.�;i1 iddm such order as Lender may determine, (ii) to the Trustortn beused gar. lta repair or restoration of the Property
<br />or (iii) far aiw, diher purpose or object satisfactory to Lender without affecting the lien of this DC4=14i3f Trust for the full amount secured
<br />hereby bafnre such payment ever took place. any application of proceeds to indebtedness slziaJl not extend or postpone the due
<br />date of` any payments under the Note. or cure any default thereunder or hereunder.
<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender, in such manner as Lender may designate. 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 Property, (ii) the premiums on the property insurance required hereunder, and (iii) the premiums an any mortgage insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. 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 />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 Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the
<br />Property or any part thereof.
<br />7. Eminent Domain. Lender is hereby assigned all compensation. awards. damages and other payments or relief (hereinafter
<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 />shall 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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