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ACKNOWLEDGEMENT OF DEED OF TRUST 90-x, OG491 TRUSTOR READ THIS BEFORE S40NING: Trustor understands that the document that Trustor Is about tO execute Is a Deed of Trust and trot a mortgage and tttal the power of a" provided for ill the Deed of Trust pravtdes substantially different rights and obligations to Trustor than a mortgage In the anent of a default or breach of obligation under the Deed of Trust. including, but not limited to, the Lender's right to have the Property sold by the Trustee without any judicial proceeding. Trustor represents and warrants that thit)eeMiiy was executed by Trustor before the execution of the Deed of Trust. %WA 04,[`�/� DEED OF TRUST WFIR FUTURE ADVANCES THiS DEED OF TRUST, is made as of the 139th day of Nbiar ,19-2t by and among the Trustor, n.DION an THULIN i Iil111M 1L THULIN whose mailing address is 12 HQAD QRM IS1.A)IID._>r13 68M (herein "Trustor;' whether one or more), the Trustee. WtILLIn M NABSHALL 11T BRBSIDENT whose mailing address Is- 2915 NORTH HROAS)Yi I JP 0 BOX 1597 (herein °Trustee'), and the Beneficiary. Five Points Sank whose mailing addrer, 4 P. Box 1597 G rand �4gand• • 68892 -1597 (herein "lender). FOR VALUABLE CONSIDEFtN, including Lenders e7�emsion of credit identified herein to tiL)GN THULIN ri 4 IL CORINNE L THULIN ( heren •'Borrower ", whether o to ear. more) and the trust herein created. the receipt of which is hereby acknowledged, r1lisb2r hereby irrevocably grants, transty, a (Mnveys and assigns to Trustee. IN TRUST, WITH POWER OF SALE. for the benefit s?d;g:curity of Lender, under and subject to in-- terms and• cci nations hereinafter set forth, the real property, described as follows: Lot Twenty Five (25) , Block Two CZ)., Normandy Estates S�Zbdivisjgn. an Addition to the City of Grand island " ball Cou nty# Nebraska Together with all buildings, improvements, fixtures, streets, alleys, pas9a3izasays, eis4rents, rights. privileges and appurte- nances located thereon or in anywise pertaining thereto, and the rents. issues ¢rod profits..Tege'rsions and remainders thereof, and such personal property that is at molted to the Improvements so as to constitute a fixture, iv,ading, but not limited to, heating and cooiiitg rdqulNntvs`a and togatha-riit�•t::a harrtw° lead t r rnarit! interests, 11 any. Which 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 foregoing being relend to herein as the "Property". This Deed of Trust shall secure (a) the p31'rrrr. 1 of the principal sum and interest evidenced by a proms. -ory note or credit agreement dated Yey 13, 19% , having a maturity date of Jan. 12 i991 in the original principal amount of S 40 � and any and all modifications, extensions anterertew s thereof or thereto and any and all future advances and readvances to Hor ower (or any of them if more than one) hec e4ntea . pursuant to one or more promissory notes or cmdJtagreements (herein called 'Note "): (b) the payment of other sums advanced by Lender to protect the security of the Note: (c) the performance of all covenants and agreements of Trustor set forth herein;arxd (d) all present and future indebtedness and obligations of Borrower (or any of them if more than actel to Lender whether direia indirect, absolute or contingent and whoty, arising by note, guaranty, overdraft or otherwise. The Naa_ this Deed of Trust and ;6^y and all other doeuents that secure the Note or otherwise executed in connection therewith, including wotiout limitation guaranteas,•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 paid when due. 2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property. and warrants ".., the lien created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trustor in VwMng and delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Deed of Trust does ni7t•tlC;ate any contract or other obligation to which Trustor is subject. 3. Taxes, Assessments. To pay before delinquency all taxes, special assessments and all other charges against the Property now or hereafter levied. 4. Insurance. To keep the Property insured against damage by fire, hazards included,wii?,n the term "extended coverage ", and such other hazards as Lender may, require, in amounts and with companies acceptatzle in, Lender. naming Lender as an additional named insured, with loss payable the Lender. In case of loss under such policies. •the ttwdyir is authorized to adjust, collect and compromise. all claims thereunder and shall have the option of applying alt er part.of i116 ii- misnce proceeds (i) to any indebtedness secured hereby and in such order as Lender rmy determine. (ii) to the Trustor to l.e used'i'c; the repair or restoration of the Property or( il)) for any other purpose orobyactsatieftcinl fir, Lender without af( ectingdle lien otlttis l3sedofTrustfi riitefullamountsecured hereby before such payment exc-r took place- Ally, applicaben: of proceeds to indebtedness shall not extend or postpone the due data of any payments under tier. %JaM, or cure ar.y default. Ine i -under or hereunder - S...Escrow. Upon written demand by Lender, Trustor shall.jsay to Lender, in such manner as Lender may designate. sufficient sums to enable Uinder to pay as they become due one or r Hdre of the following. (i) all taxes. assessments and other charges against the Property, (11) His premiums on the properly insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender. 6. Maintenance, Repairs 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 permit any act to be done i n or upon the Property in violation of any law, ordinance, or regulation: and shall pay and promptly discharge at Trustor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof. 7. Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds') in connection with condemnation or other taking of the Property or part thereof. or for conveyance in Ileu of condemna- tion. Lender shall be entitled at Its option to commence, appear In and prosecute in its 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 NK 3447 rNOn•W>cuirutar De Wi Rev 1oi88 0 1900 Natrorur eons of Commae• Trust and Sow" Assouotlon. Unedn. Nebraska S� i`r• jl ..