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ACKNOWLEDGEMENT OF DEED OF TRUST <br />89-104781 <br />TRUSTOR READ THiS BEFORE SIGNING: <br />Trustor understands that the document that Trustor is about to execute Is a Deed of Trust and note a mortgage and that the power <br />rr 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 defaultor broach of obligation undert he Deed of Trust, inctuding but not limited to, the Lender's righttp have the Property sold <br />by the Trustee without any judicial proceeding. Trustor represents an ants that this acknowledgement was executed by <br />Trustor before the execution of the Deed of Trust. <br />(fie E. Trustor C k, Husband) <br />(Phyllis A. Clark 'inrstor Wife) <br />DEED OF TRUST WITH FUTURE ADVANCES <br />i <br />THIS DEED OF TRUST 7S made ae cf the 33-t day of - llucn —t ; 19-89, by and among <br />t <br />the Trustor, ypMM»�:.C1lfT �t �Y� A- Clark, Adsband and Wife , <br />i ��7 waat 4tS+ raranei TalanA NF <br />whose mailing address is. . . (herein "Truster.; whether one or more), <br />the Trustee, $1_3,' ;4 aM 83e:... stca, a meatbaY of tcha NE Stita sax Asan. ' <br />whose mailing address is. o. )tabor 2280, Gran island, N 6f3802 -2280 therein "Frusfee'i, and <br />the Beneficiary, Vilvia• 112ntnta Rome <br />whose maili%address is P. O. Box 1507. Grand island. NE 68802 -1507 (hete%.n: "t ttder'�. <br />FOR VALUABLE CONMERATION, including Lender's extension of credit identified here. t. tc • Flentt�ih E. Clark & F'ijgilis <br />A. Clark, ffusbaraA %.Wife <br />(herein "Borrower ", whether one cr; rrare) and the trust herein created, <br />the receipt of which is ij4- &y: ackncs AR!3ed, Truer: `iereby irrevocably grants, transfers.: ratty ys and assigns to Trustee. IN <br />t TRUST, WITH POWER C F-Sr 44 for the t'nefit and security of Lender, under and subject to thete ats and conditions hereinafter set <br />forth, the real property, d bed as follows: <br />Lot One (1) and tlu� Easterly Tweltrea Feet (13126) of Lot Two (2) in fray tirsnal Block <br />Seventeen (17) in Charles Wasmer 09 Addition to the City of Grand island,...)1all County, <br />Nebraska (commonly known as 2003 West Koenig) <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 wid I unfits, reversions and rema"nders thereof, and <br />1 such personal property ttra?, is attached to the Improvements so as to constit0`a'i'Xture, inctuding, but not limited to, heating and <br />cooling equipment and togeffter with the homesteader.-narital interests, if any, Kr rch inter eas are horehy released and waived; all <br />of which. including replacer ^ants and addA ns therata, is hereby declared to be a part of tt a r� sal estate secured by the lien of this <br />Deed of Trust and all of t7,611,zregoinglu i1;1-•referex! 13 herein as the "Property ". <br />This Deed of Trust :i,alh secure (a) the paymertt_ofoihe principal sum and :•merest evidenced by a promissory note or credit <br />agreement dated — 8/41!35 -- , having a maturity date of 9/5 /96 <br />In the orig;nail r rIncipal Amount of S 12,000-0 , and any and all modifications, extensions and renewals <br />t' ereof or thereto and any and all future advance:y and readvances to Borrower (or any of them if more than one) hereunder <br />rwrsuant to one or more promissory notes or credit agibements (herein called "Note"); (b) the payment of other sums advanced by <br />Lender to prolectthe security of the Note; (c) the perfiormance of all covenants and agreements of Trustor setforth herein; and (d) all <br />present and luttae, indebtedness and obligations of Borrower (or any of them it more than one) to Lender whether direct, indirect - <br />absolute or coiiingent and whether arising by note, guaranty, overdraft or otherwise. The Plate, this Deed of Trust and any and all <br />other docuents that secure the Note or otherwise executed in connection therewith, inctuding ;Kithout limitation guarantees, security <br />igq cements and assignment:. of leases and rents, shall be referred to herein as the "Loan Instruments ". <br />Trustor covenants and agrees with Lender a3 Mlfews: <br />1. Payfee i of Indebtednew. All indebtedness tacured hereby shall be paid. when duo: : a; <br />2. Tft Tiva'or is the owner of the Property, ft as the right,ilhd authority to convey tt;e Property, and warrant&that the lien <br />created her* tvI3 a first and prior lien im the Fiop4yty, except for liens and eacwrbrancaa set forth by Trustar im witting and <br />delivered to Lender beforeexecution of this Deed of "Crust, and the execution and de ivery of IfV)s Deed of Tnjr.t does ncd Aolate any <br />contract or other obfigation'to which Trustor is subset <br />3. Taxes, Asmss0 mrp'b. To pay before defirg4tuTzy all taxes,, special assiimsinents ani:r tW- other chalgan against :he Propatty, <br />now or hereafter levied." ' <br />4. insurance. To keep the Property insured against damage by fire, hazard" ioi,.uded 0llit-y the term "extended crwiir,:ge ",r_nd <br />such other hazards as Lender may require, in amounts and with companies atctaptable to Lender naming Lender as an addit(4t1i <br />named Insured, with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust. �x.11ed rtit(t <br />compromise, all claims thereunder and shall ha vat';te option of applying all or pai,! of the insurance proceed:3 (i) to any indebtedness <br />secured hereby and in such order as Lender ma j determine, (ii) to the Trustor to be used for the repair or reroration of the Property <br />or (iii)for any other purposeor object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amri.L1 secured <br />hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due <br />date of any payments under the Note, or cure any default thereunder or hereunder. <br />d. Ewrow. Upon written demand by Lender. Trustor shalt pay to Lender, in such manner as Lender may designate, sufficient <br />sumsto enable lender to pay as they become due one or more ofthe following: (i) all taxes, assessments and other charges against <br />the Property, (ii) the premiums on the property insurance required hereunder, and (Ili) the premiums on any mortgage Insurance <br />required by Lender. <br />B. Maintenance, Repairs and Comptlance with Laws. Trustor shall keep the Property in good condition and repair; shall <br />L 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 after 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 taw, 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 pan thereof. <br />7. Emhrenf Domob. 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 4r part thereof, or for conveyance in lieu of condemns- <br />bon. Lender shad be entitled at its option to commence, appear in and proscrute in its own name any action or proceedings, and <br />shall also to entitled to make any compromise or settlement in connection with such taking or damage In She eventany ({ option of <br />uec aesrlR noCc t au o..aiie.. �o ere <br />O ISO Nrwu 8Sr& Of RRX&u. j <br />