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<br />ACKNOWLEDGEMENT OF DEED OF TRUST 90-106776
<br />TRUSTOR READ THIS BEFORE SIGNiNG:
<br />Trustor understands the: the document that Trustor is about to execute Is a Deed of Trust and not a murtgage and that the power
<br />of sate proYided for in the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the event
<br />of a default or breach of obligation under the Dead of Trust, inclutogAnHu t limited to, 0 der's right to have the Property sold
<br />by the Trustee without any judicial proceeding. Trustor rspr is and w ran n th is kgp�edgement was executed by
<br />Trustor before the execution of the Deed of Trust. , t2
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of Me 2601 day of Noyertt(aer , 19 90 by and among
<br />the Trustor, Davtd L CurtntrigFlam and Dora F. Cunnt"2ham huslaand and wife ,
<br />whose mailing address Is R 4r,Ct% -Z, Ifrer, NE 68864 (herein "Trustor;' whether one or more),
<br />the Trustee, William W . E!res! ot of Five Plaints Bank 0 a Nebraska Corooratieft,
<br />whose mailing address is P.O,., Box 1507 Grartd [stand. NE 68802 - 507 (herein "Trustee'j, and
<br />the Beneficiary, rive Pons Rank -
<br />whose mailing address is P.O.
<br />Box 1507 Grand ISIand NE 68802 -1507 (herein "Lender').
<br />FOR VALUABLE CONSiDERft ION. including Lendei s extension of credit identified herein to David L. Cunningham
<br />and Dora F Cunrt:iag laairt (herein "Borrower", whether one or more) and the trust herein created,
<br />the receipt of which is hereby ackr)owiadget; Trustor hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />TRUST, WITH POWER OF SALE fqr the te,neftand security of Lender, under and subject to the terms and conditions hereinafter set
<br />forth, the real property, described-,as. 11060 S:
<br />Lot Eight (8), in Brioc-k Nine (9), Parkhill Third Subdivision, an Addition to the City
<br />of Grand Island, Halo County, Nebraska.
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte-
<br />nances focetdd thvfe0ra of if, any -wise parmining 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 "Property ".
<br />This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by a promissory note or credit
<br />agreement dated November 26- 1990 having a maturity date of December 1 2005 ,
<br />In the originall ptinclpal amount of $ 60.000.00 and any and all modificalf.or s, extensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any of them if, more than c. ep hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note'); (b) the payment-of other sums advanced by
<br />Lender to protect the security of the Note. (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise. The Note. this Deed of Trust and any and all
<br />other doeuents that secure the Note or otherwise executed in connection therewith, including without limilation guarantees. security
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1, Payment of Indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the Property, and wama:ri ;. tPat the lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Trusj=r: it waiting and
<br />delivered to Lender before execution of this Deed of Trust. and the execution and delivery of this Deed of Trvsl deer: net violate arty'
<br />contract or other obligation to which Trustor is subject.
<br />3. Taxes, Assessments, To pay before delinquency all taxes, special assessments and all other charges agaiizsl tine Property
<br />ssm
<br />nmw or hereafter levied.
<br />4. Insurance. To keep lbe Property insured against damage by fire, hazards included within the term "extended coverage' ".and
<br />such -other hazards as L•ic47der may require. in amounts and with companies acceptable to Lender, naming Lender as
<br />.an additional
<br />named Insured •raiff1 ioss,payablIal to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and
<br />compra,rose; JI daims th ?reuniter and. shall have the option of applying.a.11 or part of the insurance proceeds (i) to any indebtedness
<br />secured hereby and in such prderas Leridw may determine, (it) to the Trustor to be used for the repair or restoration of the Property
<br />or (iii) for a'ny otlfrte purpose or•rbject satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured
<br />hereby before Wch payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due
<br />date of any pa}.ments under the Note, or cure any default thereunder or hereunder.
<br />5. ExacrW,. Upon written demand by Lender. Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />sums to enaijitt Lender to pay as they become due one or more of the following: (r) all taxes, assessments and other charges against
<br />the Property. (ilf bie premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance
<br />required by Lender.
<br />6. Maintenance, Repalm 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 />commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance. or regulation; and shall pay and
<br />promptly discharge at Trustoes cost and expense all liens. encumbrances and charges levied. imposed or assessed against the
<br />Property or any part thereof.
<br />7. Eminent 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 />tion. Lender shall be entitled at its option to commence. appear in and prosecute in its own name any action or proceedings, and
<br />shall also be entitled to make any compromise or settlement in connection with Such taking or damage In the event any portion of
<br />NBC 3147 (NoWicuhurar Daedr Rev 10188
<br />Q /gee kmbonal Bank of Commerce Trust and Sav,nps Assoe.arMn. L,neorn. Newassa
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