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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />TRUSTOR READ THIS BEFORE SIGNING: 90-107052
<br />Twator understands that the document that Trustor Is about to execute is a Deed of Trust and not a moi tgape and that the Power
<br />of sate provided for In the Deed of Trust provides substantially different rights and obligations to Trustor than a mortgage In the want
<br />of a default or breach of obligation under the Wad of Trust. Including, out not limited to, the Lender's right to have the Property sold
<br />by the Trustee without any Judicial proceeding. Truetor represents and warrants that this acknowledgement was is"Cutad by
<br />Truetor bafors the executlon of the Dead of Trust. �-.
<br />_ DEED OF TRUST WITH FUTURE ADVANCES
<br />..��' , 1fi9U - b and among
<br />;ter •'''• � "•' THIS DEED OF TRUST, is made as of the 27th day of November Y
<br />Otilie M Layhert a single person
<br />- -.., w •- .?G i; r ,u : ,...' the Truster.
<br />Eddy Grand Island N6 68903
<br />— whose rr1alJ,rip address is
<br />1516• N . y (herein "Tnlstor;' whether one or moro),
<br />the Trustee, Five Points Bank, A Nebraska Banking Corporation
<br />P.O. Box 1507 Grand Island NE 68802
<br />Y whose malting address is (herein "Trustee'), and
<br />theeevtef ;aiary, Five Points Bank, a Nebraska Banking Corporation ,
<br />whose mailing address IsP .O. Box 1507 Grand island NE 68802 (heroin "Lender').
<br />P_ FOR VALUABLE CONSIDERATION, including Lender's extension of credit identified herein to Ot i 1 i e M. Laver ,
<br />r a single person (herein "Borrower ", whether one or more) and the trust herein created,
<br />the receipt of which 19 hereby acknowledged. Truetor hereby Irrevocably grants, transfers, conveys and assigns to Trustee, IN
<br />-- �•. TRUST, VJiTFi POVic#'i +r± S.1L> tar i;te benefit and recur! of Lend�e,., under and n„�net to the terms and conditions hereinafter set
<br />forth, the real properz,r described as follows:
<br />.' South 64 feet of Lot One (1), Block Five (5) Gilbert 2nd addition,
<br />Grand Island, NE
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<br />Together with all buildings, Improvements, fir•tures, streets, alleys. passageways, easements, rights, privileges and appurte-
<br />Issues and reversions and remainders thereof, and
<br />nances located thereon or in anywise pertaining tnereto, and the rents, profits,
<br />to a fixture. Including, but not limited to, heating and
<br />,t M
<br />such personal property that is attached to the imorovements so as constitute
<br />cooling equipment and together with the homestead or marital Interests. If any, which Interests are horehy release and waived; all
<br />hereby declared to be a of the real estate secured by the Ilan of this
<br />of which, Including replacements and additions the 1010, Is part
<br />".
<br />Deed of Trust and all of the foregoing being referred to herein as the "Property
<br />.
<br />1' j ,•trinv.
<br />This Deed of Trust shall secure (a) the payment of the principal sum anc interest evidenced by a promissory note or credit
<br />�•. �% , �� �`•;�,
<br />. , • .,
<br />November 27 , 1993
<br />November 2? r 1990 ,hen a mature date of •
<br />agreement dated '"g ry
<br />i;;r?_.;l�l'f''.
<br />in the original principat amount of $ 10 , 866.38 and any and all modlhcatlons, extensions and renewals
<br />them II more than one) hereunder
<br />i' ;'•;' +' • ' :° 'z
<br />• ..� ti.
<br />thereof or thereto and any and all future edvaT:es and readvances to Borrower (or any of
<br />(herein called "Notel; (b) the payment of other sums advanced by
<br />pursuant to one or more promissory notes or creel agreements
<br />Lender to protect the security of the Note; (c) the performance of at l 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 />The Note, this Deed of Trust and any and all
<br />Y •. a : '
<br />absolute or contingent and whether arising by note, guaranty, overdraft or otherwise.
<br />other docuents that secure the Note or otherwise executed in connection therewith, including without Ilmltation guarantees, security
<br />1,
<br />agreements and assignments of leases and rents, shall be referred to herein as the "Coen Instruments'.
<br />Trustor covenants and agrees with Lender as follows:
<br />`'.
<br />1. Payment of Indebtedness. All Indebtedness secured hereby shall be paiy when due.
<br />2. Title. Trustor r9 the owner of the Property, has the right and autho -.1y to convey the Property. and warrants that the Iles
<br />,•
<br />created hereby Is a first and prior lien on the Property. e1v--ea'c to bens and encumbrances set forth by Trustor in wvding and
<br />and delivery of this Deed of Trust does not wo,ate any
<br />delivered to Lender before execution of this Deed of Trust, a ^d ME, execution
<br />`i •.
<br />{
<br />contract or other cb': ,Iation to which Trustor is Sealer:
<br />r 3. Taxes, Assessment*. To pay before deifra;.ency a!1 tares, srec�a! ass-�ssmenls and all other charges against the Property
<br />now or hereafter !ev.ea
<br />4. Insurance. To keep the Property insured against damage by lire, hazards included within the term "extended coverage ", and
<br />acceptable to Lender, naming Lender as an auditlonal
<br />such other hazards as Lender may require, in amounts and w.tn companies
<br />named Insured, with loss payable ;C the Lender. In case of loss L rider such policies. the Len -dat is ar�thOflied t0 adjust. ": and
<br />11 aDle
<br />compromise, all claims thereunder and shall have the option of aFFiprig all of ta•t of the rnsu�ance proceeds 1•) to any rndeotetlness
<br />°atictr 0 I'le P!aperty
<br />secured hereby and rrr such order as Lender may determine. (u) to the Trustc • :c De used for trte repair or :esto
<br />for any other purpose or object satisfactory to Lender without affecting t' E' : Pn of this Deed of Trust fc� t "e °ji• arnoui: secured
<br />or (Ili)
<br />hereby before such payment ever took place. Any apo!rcatrcr r t proceeas tai .debtedness shall not extena or postco- a the due
<br />rwvmnnta under the Note. or cure env default thereunder or hereunder.
<br />6. Escrow. Upon written demand by Lender Trustor snail pay to Lender. in SUCH manner as Lender may pEy,grrerBc ovllrG o..:
<br />more of the following* to all taxes. assessments and other charges agelnst
<br />„
<br />sums to enable Lender to pay as they become due one or
<br />the Property, (it) the premiums on the property , nsurance required hereunner. and (m) the premiums an any mortgage insurance
<br />required by Lender.
<br />6. Maintenance, Repair* and Conogiaince with Lairs. Trustor shall keep the Property in good condition and repair; shell
<br />promptly repair, or replace any improvement which may be damaged or destroyed; shall not commit or permit any waste or
<br />demolish or substantially alter any of the improvements on the Property. shall not
<br />deterioration of the Property; shall not remove.
<br />commit, suffer or permit any act to be done in or upon the Property in violation of any law. ordinance. or regulation. and shaa 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 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 condemns-
<br />its to commence. appear in and prosecute in its own name any actiog gr pro9qedings, and
<br />bon. Lender shall be entitled at option
<br />in with such taking or damage. In thb AAVent `Ay portion of
<br />"
<br />shall also be entitled to make any compromise or settlement connection
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