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ACKNOWLEDGEMENT OF DEED OF TRUST TRUS'rOR READ THIS BEFORE SIGNING: 90 -1 O tU u 2 0 Trustor understands that the document that Trustor is about to execute Isis Dead o1 Trust and note mortgage and that the power of sale provided for in the Deed o1 Trust provides substantially different rights and obligations to Trustor than a mortgage in the event of a default or breach of obligation under the Deed of Trust, including, but not limited to, the Lender's right to hava tha Ptoperty sold by the Trustee without any Judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by Trustor before the execution of the Deed of Trust. �--. 0111 Trustor stor DEED OF TRUST WITH FUTURE ADVANCES THIS DEED OF TRUST, is made as of the let day of November ,19 90 by and among the Trustor, OVAYNS D.LARSON A 11ARYLYN SUS LAlLM HUSBAND AND WIFE whose mailing address Is A ST LILY rein "Trustor." whefe one or more), the Trusties; VILLIM Y. HARSUU III FiISSIDBNT, Five Points Bank_ a Nebraskg Corn. , whose mailing address Is 2615 MONTH BROADVELL P.O. 9011 13 1 (herein "Trustee). and the Beneficiary. Five Points Bank whose mailing address Is P.O. Box 1567 brand Island.. U. 6SM-1567 (herein "Lender'). FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to DVAYNE D. LARSOM i 1URYLY1 SUE LARSON (herein "Borrower ", whether one or more) and the trust herein created. the receipt of which is herc-by acknowledged. Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST, WITH POWER OF S/.dl.E. for the benefit and security of Lender, under anal subject to the terms and conditions hereinafter set forth, the real property, described as follows: Lot Seventeen (17) in Block One (1), Dale Roush Second Subdivision, situated in par=t of the East Half of the Southwest Quarter (E #SW,) of Section Fourteen (14), Township Eleven (11), Ravage Nine (9), West: of the 6th P.M., Hall County, Nebraska. Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte- nances located thereon or ii anywise pertaining thereto, and the rents, issues and profits, reversions and remainders thereof, and such personal property that is attached to the improvements so as to constitute a f xtare, including, but not limited to, heating and cooling equipment; and tag2�.ler with the homestead or marital interests, if any, wh°cn interests are hereby released and waived; all of which, including replacements and additions thereto. is hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the twegoing being referred to herein as the "Property ". This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credl! agreement dated -- Roy. 1, 1990 , having a maturity date of Nov. to 1997 in the originaY principal amount of $ 16.198.88 , and any and all modifications, extensions and renewals thereof or thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note'); (b) the payment of other sums advanced by Lender to protect the securlty of the Note'. it) the performance of all covenants and agreements of Trustor set forth herein; and (d) all present and future Indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by note. guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all other docuents that secure the Note or otherwise executed in connection therewit n. including without limitation guarantees. security agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ". Trustor covenants and agrees with Lender as follows: 1. Payment of Indebtedness. All indebtedness secured hereby shall be pa; : when due. 2. Title. Trustor is the owner of the Property, has the right and authority" ut convey the Property, and warrants that the lien created hereby is a fist and prior lien on the Property, except for liens and encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deed of Trust. and the execution and delivery of this Deed of Trust does not violate' emw contract or other obligatlon to- which Trustor is subject 3. Taxes, Assessments. To pay before delinquency an taxes, special assessments and all other charges against the Prcptartyj now or hereafter levied. 4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coveragai :,and• such other hazards as Lender may require, in amounts and with companies acceptable to Lender, naming Lender as•anlitddltilwnal named insured, with loss payable to the Lender. In case of loss under such pol:ves, the Lender is authorized to adjust; cdilpdand. compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (I) to any indebtednesi secured hereby and in such order as Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property or (ill) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to Indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 5. Escrow. Upon written demand by Lender. Trustor shall pay to Lender. In such manner as Lender may designate. sufficient sums to enable Lender to pay as they become due one or more of the following: (t) all taxes, assessments and other charges against the Property, (ii) the premiums on the property Insurance required hereunder, and (m) the premiums on any mortgage Insurance required by Lender. S. Maintenance, Ropairs and Compliance with Laws. Trustor shall keep the Property in good condition and repair; shall promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the Improvements on the Property; shall not commit, suffer or permitany act to be done in or upon the Property in violation of any law, ordinance, or regulation; and shall payrand promptly d'iscInarge at Trustor's cost and expense all liens. encumbtances.and d7an3es levied. imposed or assessed against the Property or any part thereof. 7. En*iont Domain. Lender is hereby assigned all compensation, awards,dumages and other payments or relief (hereinafter "Proceeds') In connectior; with condemnation or other taking of the Property or li an'Iliereof, or for conveyance in lieu of condemna- tion. Lender shall be envVed at its option to commence, appear in and prosecute: irints own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of NBC 3457 (NoWicultursl Deed) Rev 10/88 0 1888 Natana Bar* or commerce Trust and Sannps ASM'Stion. Lincoln. N.Wasl. •'^`.S "ill; ;t'r. rte ii�j� :;1 %jtlt'i4 %�';4,72;�ti F.,.. . 0 .�..r_s_ a3�aw' �•v�'di� `wpm I t - is �•