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<br />ACKNOWLEDGEi11ENT OF DEED OF TRUST
<br />TRUSTOR READ THIS BEFORE SIGNING: g.,..* 104931
<br />Trusts uttdarstands thatthe document that Truster is about to exacuto lea peed of Taut and not a mortgage and that the power
<br />of sate provided for in the Deed of Trust provides substantially diffenint dgfitpaitd obligations to Trustorthan a mortgage in the event
<br />at a defauh ar breach of obligation under the Deed of Trust. Including. tttltn ' Lender's right to havethe Property sold
<br />by the Trustee without any judicial proceeding. Truster represents Ind ar to tlitlt this acknowledgemen! was executed by
<br />Treanor before the execution of the Deed of Trust.
<br />- — Man Clark, Truster HusbA
<br />r _6.4e
<br />Roxy R. flark, A ion Pe =s (Bhy, l3: A. Clark, Truster Wife)
<br />DEED OF TRUST WITH F#t i6 tE ADVANCES
<br />THIS DEED OF TRUST, is made as of the __1 ]— day of, September 19-99._ by and among
<br />the Trustor, fSJU nth C 1l. rt2! phvliis A. Clark. Husband & Wife, & Roxv R. Clark, A Married
<br />Person
<br />whose mailing address is t0 Tall artA- Nw (herein " Trustor," whether one or more).
<br />the Trustee, William G. Hlagkburn. a member of the NE State Bar Assn.
<br />whose mailing address is P- n_ 13ex 229G, Grand Talarrcitf. NE 68802 -2280 (herein "Trustee'), and
<br />the BerfAidary, p3.ve points Sank
<br />whose trailing address is P. o- IM 2280•, Grand Island, NE 68802 -1507 (herein "Lender').
<br />FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to yannath R. elark & Phyllis
<br />A. Clark & Roxv R. CU" (herein "Borrower", whether "one or more) and the trust herein created,
<br />the receipt of which is hereby acknowledged, Truster hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF $ALL- farthe benefihand security of Lender, undru'and subjectto the terms and conditions hereinafter set
<br />forth, the real property, describid as follows:
<br />The Westerly Sixty t"t (W601) of Lot Seven (7), Block 127, Koenig & Wiebe's Addition
<br />to Grand Island, Hail. County, Nebraska
<br />commonly known as 810 West Koenig, Grand Island, NE
<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 and profits, reversions 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 the homestead or marital Interests, if any, which interests are hereby released and waived; all
<br />of which, including replacements and additions thereto, is hereby declared to be a part of the real estate secured by the lien-of this
<br />Deed of Trust and all of the foregoing being referred to herein as the "Frcserty".
<br />This Deed of Trust shall secure (a) the payment of the r,.r'.ncipal sum and interest evidenced by a promissary note or credit
<br />agreement dated i`aving a maturity date V. e/5y99 .
<br />in the original principal amount of 330, 000.00 , and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Sarrower (or any of them it more than one) hereunder
<br />pursuant to one or more promisscty dotes or credit agreements (herein called "Note""'. (.a) the payment of other sums advanced by
<br />Lender b protect the security of tiff! Mote; (c) the performance::; all covenants and agrrasiments of Trustor set forth hhr. ein; and (d) all
<br />present and future indebtedness siW obligations of Borrower (W any of them if more than one) to Lender whether a rect, indirect,
<br />absolute or contingent and whether arising by note, guaranty, overdraft or rtherwise. The Note, this Deed of Treat and any&nd fall
<br />other docuents that wurra the Note or otherwise executed in connection tfie ;with, including without limitation guarantees, se.'ur' +Y
<br />agreeaW_ls and assignments of teases and rents, shall be referred to herd;^ as the "Loan instruments ".
<br />Ttuatur covenants and atirees viith Lender as follows:.
<br />1. Pt yment of Indebosdttaao All, indebtedness secured h4raby sha;f be paid whets. due.
<br />2. Title. Truster is the dwner 41 the Property, has the right and authisr,ty to cams! y the Property, and warrants that the lien
<br />created hereby is a first and prior lien on the Property, except for liens;)iW encurniwonces set.foith by Truster in writing and
<br />delivered to Lender before execution of this Oeed of Trust, and the execution and deliver~ / of this need• of Trust does not violatmany
<br />contract or other obligation to which Truster :s subject.
<br />3. Taxse, Assessments. To pay before delirquency all taxes, special assessmema and all other charges against the Property
<br />now or hereafter levied.
<br />4. Insurance. To keep the Property insured against damage by fire, hazards included within the term "extended coverage', and
<br />such other hazards as Lender may require, in amounts and with companies acceptable to lender naming Lender as an additional
<br />named insured. with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness
<br />secured hereby and in such order as Lender may determine, (if) to the Truster to be used for the repair or restoration of the Property
<br />or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount 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 />5. Escrow. Upon written demand by Lender, Truster 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 on any mortgage insurance
<br />required by Lender.
<br />6. U.- Milsnanee, 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 />cbmmit, suffer or permit any act to be done in or upon the Property in violation of any laws, ordinance, or regufztiom and sha;! pay and
<br />promptly discharge at Truster's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the
<br />Property or any part thereof.
<br />7. Emkwt 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 />ton. Lender shall be entitled at its option to commence, appear in and prosecute to its own name any action or proceedings. and
<br />shall also be entitted.to make any compromise or setttement in connection with Such taking or damage. fn th© event anyporhon of
<br />NBC 3451 (Nc"v;CL0Vv&1 Do" Fire 110,88
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