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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUBTOR RUD THIS BEFORE SIGNING: 90- 106967
<br />Trustor understands that the document that Trustor is about to execute Is a Deed of Trust and not a mortgage and that the power
<br />of sale provided for in the Deed of Trust provides substantially different rights and obligations to Trustor then a mortgage in the event
<br />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
<br />by the Trustee without any Judicial proceeding. Trustor represents and warrants that this acknowledgement was executed by
<br />Trustor before the execution of the Deed of Trust
<br />\� Tr for . Stagman)
<br />rustor nadette tegman)
<br />EFT
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<br />FIT73'77_17Z�717 7_1
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<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED OF TRUST, is made as of the 29th day of November 1910— by and among
<br />e A. Ste ma husband and wife, each in his own right
<br />L J • Ste man and er ode tt 8
<br />the Trustor, patratif
<br />a...'�.
<br />whom mailing address is oni Pact v nd St_- Grand TAI rind, NE 6RI101 (herein "Trustor;' whether one or more),
<br />, �r�� --+ :•its
<br />the Trustee, Five Points Bank, A Nebraska Banking Corporation
<br />whom mailing address Is ,_ P.O. Box 1507, Grand Island, NE 68802 (herein "Trustee"). and
<br />�. � h K1ux�•r
<br />Five Points Bank, A Nebraska Banking Corporation
<br />the Beneficiary.
<br />'
<br />whom mailing address is P . pl2ii 1507. Grand - island NE 68802 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, Including Lender's extension of credit Identified herein to LeRoy J . S tegman and
<br />? v ,p :: '. Y? I•" _•_ -
<br />Bernadette A. Stegman, husband and wifo1herein • Scittower ". whether one or more) and the trust herein created,
<br />the receipt of which Is hereby acknowledged. Trustor hereby Irrevocably grants, transfers, conveys and assigns to Trustee. IN
<br />TRUST, WITH POWER OF SALE. for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set
<br />forth, the real property, described as follows
<br />Lot Two (2), Block Eleven (11) in Sheridan Place, an Addition to the
<br />City of Grand island, Hall County, Nebraska
<br />Together with all buildings. Improvements, fixtures, streets, alleys, passageways, easements, rights, privileges and appurte-
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<br />nances located thereon or In anywise pertaining thereto, and the rents, Iss,.es and profits, reversions and remainders thereof. and
<br />to the Improvements so as to con iblute a fixture, Including, but not limited to, heating and
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<br />such personal property that is attached
<br />Cooling equipment; and together with the homestead or marital interests. If any. which Interests are hereby released and waived; all
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<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
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<br />Deed of Trust and all of the foregoing being ruharred to herein as the "Property".
<br />P.
<br />This Dead of Trust shall secure (al the payment of the principal sum and Interest evidenced by a promissory note or credit
<br />agreement dated Nov_calber 29, 1990 having a ma'arity date of November 29, 1995
<br />in the original principal amount of Ill 17, 320.50 aria anlr and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advaticos and readvances to Borrower for any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credlf agreements (herein called "Note "): ib) the payment of other sum$ advanced by
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<br />Lender to protectthe security of the Note. (cl the porformancitof all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future Indebtedness and obligations of Burrower for any of them if more than one) to Lender whether direct, indirect,
<br />absolute or contingent and whether arising by I1uto. guaranty, overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note or otherwise executed Ira connection therewith, including without limitation guarantees, security
<br />".
<br />agreements and assignments of lease& and rents, ohall he retorted to herein as the "Loan Instruments
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<br />Trustor covenants and agrees with Lender au follow%
<br />I. payment of Indsbledneaa, All Indebtedness aecered hereby %half be paid when clue.
<br />2. Title. Trustor is the owner of the Properly. h.Ib into rillhi ,Ind authority to convey the Property, and warrants that the lien
<br />created hereby Is a first and prior Ilan on Into Iltopotly exrupt irn cans and encumbrances set forth by Trustor in writing and
<br />delivered to Lender before execution of this heed of T rust .uul the toxe,:ufron and delivery of this Deed of Trust does not violate any
<br />contract or other obligation to which Trustor is sublet t
<br />3. Taxes, Assessments• ro pay before tiv11mlor..1 v •In 6Iu•v .1w, I it as%essmonls :t ^d <lii other charges against the Property
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<br />now or hereafter levied.
<br />4. Insurance. To keep the Properly In.,ured ugtumil darnace try lov. hazards Included within the term "extended coverage ", and
<br />such other hazards as Lender may requtnf on ,mounts .Ind wilt, i onlp,elifts ,Icceplable to Lender, flaming Lender as an additional
<br />�..
<br />named Insured. with loss payable lathe fonder to . ase .If loss under •,ul.h policies. the Lender is authorized to adjust, colle%.i and
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<br />compromise, all claims thereunder teed shall have toll , flit., In u1.1piliv.114 ,di oft part of the Insurance proceeds it) toany indebtedness
<br />secured hereby and in such order as Lender miry du11,umnu mt to fill, I t.+stur to be used for the repair or restoration of the Property
<br />or (fill for any other purpose or obleci satlsfaLtury II, i under *1111, Jol ,dtet.bnq the Ilan of this Deec of Trust for the full amount secured
<br />hereby before such payment over took place Any aplHit alwil 1 wilt t-tis to 'ndebtedness shal' not extend or postpone the due
<br />date of any payments under the Note. or cure any dufaun tiuneuo,lul Jf t"Ifounder
<br />". "�' �: ...,n..., Nno,nnntu m,Mv,nnt
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<br />5. escrow. Upon written ciemarfti by i n1,ur,. 7..I:,i,., ,T,nii ...:. :.::.:: :s:. •- ;;;;;,'::::::. .� _.. --_.e. -•-• _-..._._...
<br />some to enable Lender to pay as They bocume due unto of mote of ft,,. i,m,)w,nN 141 iii taxes assessmer 's end otner chef gOR against
<br />the Property, (ti) the premiums on the property nC,ul,111111 • eyuned I,eo•tJnder .Ioo (m) the promlums on any inorlgage insurance
<br />required by Lender.
<br />6. Maintenance, Repairs and Compliance with Laws. Toottlof stliall ke41p the Property in good condition and repair; shall
<br />promptly repair, or replace any Improvement which nlny tie ,tu mitivil or .lestruyed. shall not commit or permit any waste or
<br />deterioration of the Property, shall not remove, demolteh or .ubstanfl.lu;, .toter .Illy of tho Improvements on the Property. shall not
<br />commit suffer or permit any act to be donu In or upon the for opurfy In viui,atlun (it any iaw. ordinance, or regulation: and shall pay and
<br />promptly discharge at Trustor's cost and expense lift 110119. uncumbre11l ON 14110 t hafuus levied. Imposed or assessed against the
<br />Property or any part thereof.
<br />7. Eminent Domain. Lender Is hereby assigned all t ohlpenti,ation ,t*iotia. damaftua and other payments or relief (hereinafter
<br />"Proceeds ") in connection with condemnation or other taknly of tote I auperty of part thereof, or tot conveyance In lieu of condemna-
<br />tion. Lender shall be entitled at its option to commence. applouf tl1 ,uul f l-mit toe+ if on 1 own name any action or proceedings, and
<br />shall also be entitled to make any compromise or settlement uI connuction with touch taking or damage In the event tiny portion of
<br />Net: 3461114~1cuuurnl DOW) Rw 10,81111
<br />0 IM ovmwa eMN,f Cipm~co T,wl Ord Sa itis Abler I Ino in ftMMIM•
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