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I ACKNOWLEDGEMENT OF DEED OF TRUST Q TRUSTOR READ THIS BEFORE SIGNING -' S9- 104741 Trustor understands Brat the document that Trustor is about to execute Is a Deed of Trust and not a mortgage and that the power of sate provided for in the Dead of Trust provides substantially different rights and obligations to Trustor than a mortgage in the event of a dehutt or breach of obligation under the Dad of Trust, including, but not limited to. the Lender's right to have the Property sold by the Trustee without any judicial proceeding. Truster represents and warr,lKt3�that this acknowledgement was executed by Trustor before " execution of the Deed of Trust � 1 - Me Clark, Trustor Husband) Trustor ,. ��yi. • .�•A. Clark, wife) DM OF MUST WiTH FUT60MADVANCES THiS DEED OF TRUST, is made ±z the. 113 day of sugt �L , 19_89 by and among " fie Trusto.. VefthAth E_ Fhgilis Am ClaxaL Ausband and Wife whose mailing address 4k. t07 West 4th. Grand island, NE (herein "Trustor;' whether One or more), the Trustee, Mi lawn G. Blackburn, 'a member thg NE State Bar Assn. whose mailing address is P- o_ Rnsr 2280, mane tai", r;(}g02— ?280 (herein "Trustee' ?, and the Beneficiary, Five Points Bank whose mailing address is -- P-0. - -Box 1507, GrAW NE-68802-1507 (herein "Lender". FOR VALUABLE CONSIDERATION, including Lender's extension of crib °'t,dentified herein to Wane:th E. Cz� slid Phyi ii n a_ Mark, Husband & Wife (herein "Borrower'. whether one or more) and the trust hergln created, the receipt of which Is hereby acknowledged. Trustor hereby irravocabty grants. transfers, conveys and assigns 16-Trustee, IN . TRUST. WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the terms and conditions hereinafter Be. ! forth. the real property, described as follovys: I ' The South 49.0 feet of the West 33.6 feet of Lot 2, Block 17, Original Town of Grand Island, Hall County, Nebraska comonly known as 20911 West 6th, Grand Island, NE Together with all buildings, Improvements, fixtures. streets, alleys, pasm2aways, easements, rights: privileges and appurte- I nances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions GAdl remainders thereof, and such persorall property that is attached to the improvements so as to constitute a fixture, including, but not limited to, heating and f cooling e(>uon. ent and together with the homestead or marital ir_tavests, it any. which into! :es•.s are hereby released and waived; all of which, ini tiding replacementsand additions thereto, is hereby t eGiared to be a part of the real estate secured by [tie lien of this Used of Trust and all of t!!e foregoing being referred to herein as the "Property". I This Deed of Trus :'t0tali secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit agreement:r', vd.. �. �� 8 89 _, hav+rg a maturity date Of_ 9/t193 in the original princitrol aircunt of and any and aa'•riodificaticn %, extensions and renewals thereof or thereto and• :frcy and all future advances and readvances to Borrower (or ahy of them it more than one) hereunder pursuant to one or more promissory .votes or credit agreements (herein called "Note"); (b) (17-i.-payment of other sums advanced by Lender to pru(irctthe security of the Note; (c) the performance of 3II covenants and agreetnents i3f Trustor set forth herein; and (d) all present ano ftlli+re Indebtedness and obligations of Borrower (or,i vy of them it more th4wnne) to Lender whether direct, Indirect absolute or c tsr.tingent and whether arising by note, guaranty, overdraft or otMuivise. The We. this Deed of Trust and any and all other docutlints that wlit-4 Itte Note or otherwise executed In connection thetewith, including without lireitationguarantees ,security agreements and assiSrntwrtts of leases and rents, shall be referred to here'.n of, the 'Toan in3dru;itgnt9'• Trustor covenants and agrees with Lender as follows: 1.'aymom of I debladnata, Ail indebtedness secured hereby shall be paid when dial 2. TW. Trustor Is the owner of the Property, has the right aril authority to convey the Property, and warrants that the lien created hereby is a first and prior lien on the Prope.•fy, except for liens and'encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deedof Trust, and the execution avid delivery of this Deed of Trust does not violate any j contract or other oblig+atic" to which Trustor is subject. 3. Taxes. Asaataments. To pay before delirquency all taxes, special assessments and all other charges against the Property now or hereafter levied. 4. howsaae. To keep the Property Insured against damage by fire, hazards included within the term "extended coverage ", and such other hazards as Lender may require, in amounts and with companies acceptable to Lender naming Lender as an additional named insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise, all claims thereunder and shall have the option of applying all or partof the insurance proceeds (+) to any indebtedness secured hereby and in such orderas Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property 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 hereby belore such payment ever took place Any application of proceeds to indebtedness shall not extend or postpone the due date of any pairimonts under the Note. or cure any default thereunder or hereunder. - Etlrros. ! t(-_rt wriften devar td by Lender, TfusWr Shall pay to Lendcr,.-n such =rncr as Londar,•may designate. sufficient sums to enable tender to pay as they become due one or more of the following (i) all taxes, assessments and other charges against the Property. (+i) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender d. Matr+Mnance. fee Wm and Compliance with Laws, Trustar shall keep the Properly in good condition and repair; shall Promptly repai% or replace any improvement which may be damaged or destroyed, shall not commit or permit any waste Or doWtOratwo Of the Property; shall not iemwe. dernulish or substantially after any of the improvements on the Property; shall not commit, suffer br permit any act to be done in or upor, the Property in violation of any law, ordinance. or regulation; and shall pay and promptly discharge at Trustor's coat anti expense cif! liens, erc:rmbrztices at,d charges tov,ed, imposed at assessed against the property or any part ttwtof T fit tieeM Vwrdn. Lender is tiereby assigned all compensatiun, awards. damages and other paymor+ts or relief (hefeiratter ' Proceod ) in connection *.irr G(ifitie- vrtattr)n ur Guier tailing of the Ptopert'i or part thereof, or (of Conveyance in lieu of coridamn,a- Grjo Lender 5ha'i be ewxL*1 at ,13 cDjifin to coirnner -cu, appear :n and vrf;sccutti ,r; ct:3 (jort oanvu nt,y •'tCtrtrft fit urCc:tled+nga find 61"A°! a'MKi he E)0Xed to maka ant uumvrwrlsv Cr cener`e�t :,I C9. ^clean W Atr su-- h'.ak ng fir dat7 age in (rot gr.•R!M limy Doi ion of Mot' 14ltcM�'e�•. ^_,NUw' *.cr,'L 6! 0 tiYMrr.r.uR4� at._,- rye :a'_r..�3r.. t!e c. r. .:t r Y. i1) ;..... .:t r Y. i1)