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ACKNOWLEDGEMENT OF DEED OF TRUST
<br />g�:-- 105437
<br />TRUS70R READ THIS BEFORE SIGNiNO.
<br />Trustor undertifartds that the document that Ttudor is about to execute Is a Deed of Trust arc! not a mortgage uidthat the power
<br />of sate pmvided tot' in tltefle sd of Trust provides sub0ftntlelly difhrent rightand obligations to Trustor than a mortgags to the event
<br />of a dehutt or breech of obligadw under the Deed of Trust Including, but not U311ocito. the Lender'& right to have the Properly Wild .
<br />without any judicial proceeding. Trustor represent ancF* r n that this acknowledgement was executed by
<br />r . i
<br />by of 1111111 ]n..a of Trust
<br />ply R.
<br />(Vqwnth E. , Trustor Clark,. Hu*w1d)
<br />1 , W (Phyll A. Clark Trustor Wife)
<br />ir
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />TkHS DEED OF TRUST. is made as of the 12th day of Se11tember .19 =".,.by and among
<br />t' Ylutftlth E. Clark A 1ptty3:lis A. Clark.. HulsbWld 8 Wife & Rory R. Clark &Lori L. Clarks ;.
<br />- - _
<br />I Bueband & Wife '
<br />whose znditl_ing address Is l k�'fth, Grand island, NE 68101 ' (herein "Trustor." whether one or morel
<br />Ctrs ms , , s y. n_ s n�tM,wt^ Of t.tte NE State Bea+ Assn.
<br />t
<br />True;
<br />whose mailing adds&,& is P.O. Box 2280, Grand. To
<br />1!3E 68812 (herein '?ibises& "), and
<br />the 8erieflclary Five Poinu Barh"t
<br />>, n n.... s 507. r'r�nd Tsland,c NE 68802 (heroin "Lendeel.
<br />whose ttierilirtg address is ; � •I
<br />FOR VALUABI af!JiVSIDERATION, including Lender's extensien.ef credit identified herein to, yemlet�h -. Clark a Phyllis
<br />)L. Clark. HuebetNi and. - Wife &
<br />tnri 1._ nliris. /;t,wl ir,� R. Clark-
<br />9 & -- — ,_,..^...;,,�.._ {ftata(n." Borrower", whether one or more) and the tn,etrfs,erein ctealed,
<br />the receipt of which le herob#4 . owiedged, Trustor trrtnnui y t•revocatsly grents. transfers, conveys and as rrr.)D Trussm IN
<br />TRUST, WITH POWEROF SAVE W-the benefjt apd security-Of Lender, under and subjeri to the terms and conditicrtsh'ereina%ev not '
<br />forth, the real propiw,*,,; dmscribi+ &as follows.:' .7 - Northerly Olvj— th c it lot Five (5) in Block Six, Five `'•..: ; ,' ::j,.,
<br />165) in tits 0 igitl L-' 1'- T0%-at ,taw City a'-Grand island,. NQXv -34kas said premium having a fra*09e
<br />of Twenty - wo (22) Feet on Sptnm Street (stars wheeler Ave.) and extending back along the alley in
<br />said block,. Sixty -Six (66) Feet to the Easterly Line of said Lot. Also known as 211 North
<br />Wheeler t Grand Islafsdt NE
<br />Together with all buildings, improvements, fixtures, street, alleys, passageways, easements, right, privileges and appurte-
<br />4 nanoes 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 releasiadend waived; all
<br />of which, including replacements and additions thereto. Is hereby declared to be a part of the real estate secured L} the lien of this
<br />Dead of Trust and all of the foregoing being referral to herein as the "Property".
<br />This Deed of Trust shall secure (a) the 1:3;finent 9f the principal pan and Interest evideni;01.' by a promissory note or`'-wedit
<br />agreemovit dated 9 12 89 _ having a maturity date of
<br />1.2/5/99
<br />and an ;
<br />j In the original prinu�l Amount of 5 30 ^^^ ^^ '• y and al! modifira,lcns, sxtsnsiorhs and rer±t�wals :
<br />tl'tereof or thereW gtr,id any and all future advances ar-d readvances to Borrower (or any of them, if more than one) herermdor
<br />puntimit to ono ox- (ship promissory notes or credit agrim"rits (herein tailed "Notr')i. (b) the payment of other sums advanced by
<br />Lertditd'to protect the security 9 this dote; (c) the performuco of all covenants and agr+eaments of Trustor set forth. [ orein; and (d) all
<br />present and future Indebtedness and obligations of Borrower (or any of them if more fi-an 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 docuenta that secure the Note or otlterwisa executed in connection therewith. inc:uding wittrtA limitation guarantees, security
<br />i agreement and assignment of leases and rents. shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenant and agreis with Lender as follows,
<br />T.- ft-, an of indebledneeo. All Indebtedness secured, hereby shall be paid when due.
<br />$, Tide. Trustor Is the owner of the Property. has to rig0?t,.and authority to convey the Property, and vr4um;r:A.that the,lien
<br />created hereby is a first and prior lien on the Property, except for liens and encumbrances set forth by Tr,lo(f2ir in wr�tirg and
<br />delivered to Lender before execution of this Deed of Trust, and the execution and delivery of this Wmd of Trust om not vidnte -any
<br />contract or other.011gation to which Trustor is subject.
<br />i 3. Taaee, Aasesesnnle. To pay before delinquency all taxes, special assessments and all other charges against the Property
<br />now or hereafter levied.
<br />e. k awo" Tokeep the Property insuredagainsi 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 inured, with loss payable to the Lender. In case of toss 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, (ii) to the Trustor to be used for the repair or restoration of fire Property
<br />or (Iii) for any other purpose or object satisfactcry 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 />dale of any payment under the NOW or cure any default thereunder or hereunder.
<br />6, Eeerete. Upon written demand by Lender. Trustor shall pay to Lender, in such manner as Lender may designate, sufficient
<br />sume to enable Lander to pay as they become due one or more of the following; (Q all taxes, assessments and other charges against i
<br />the i+roperiy. (h); iite plot. lums oh ti* properly Itiuutatt er required tiefesunder. and (III) the premiums ors any martgap insvr ns:a s --
<br />required by Ler4w.
<br />& Meh-N & mrteii, N I CerNpN * with Laws. Trustor shall keep the Property in good condition and repair; shall
<br />promptly rpair, 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, sutler or permit any act b be done in or upon the Property in violation of any law, 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 part. thereW.
<br />7. &AmM Dowd. 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. of for conveyance in lieu of condemna- -
<br />bon. Lender shall be entitled at it 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
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