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<br />ACKNOWLEDGEMENT OF DEED OF TRUST 90-- 107081
<br />TRUSTOR READ THIS BEFORE SIGNING:
<br />Trustor understands that that document that Truster is about to execute is a Deed c f Trust and not a mortgage and that the power
<br />of sale provided for In the peed of Trust provides substantially different rights and obligallons to Trustor than a mortgage in the event
<br />of a default or breach of obligation under the Deed of Trust. Including, but not limited to, the Lend is right to have the Property sold
<br />by the Trustee without any Judicial proceeding. Trustor represent - w�rra� that thls,g�nowlsd(.nt was executed by
<br />Trustor before this execution of the Deed of Trust. / / // •
<br />DEED OF TRUST WITH FUTURE ADVANCES
<br />THIS DEED Or MUST. is made as of the 10th day of December 19 2D— by and among
<br />the Trustor, Richard A Cornelius and Becky J Cornelius, husband and wife
<br />whose mailing address is 404 Campbell Ave., Doniphan, NE 68832 (herein •'Trustor;' whether one or more),
<br />the Trustee, TRW Title Insurance Company
<br />whose mailing address Is 6800 College Blvd Suite 2Q%, -Lliverjand Park J2- 66211 (herein "Trustee "), and
<br />the Beneficiary, NPPD Employees Fe&,ral Credit Union
<br />whose mailing address is P- 0- Rnx 49:). Columbus NF AA6 2 -0499 (herein "Lender ").
<br />FOR VALUABLE CONSIDERATION, Including Lender's extension of credit identified herein to Richard A. Cornelius
<br />and Becky I Cornelius, husband and wiffherein "Borrower ", whetherone 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 />TRH 1ST, WITH POWEP 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 12, Amick Acres Second Subdivision located in part of the N1 /2 S%V1 /4 and part of tfie
<br />51/2 NW1 /4 of Section 2, Township 9 North, Range 10 Vlest of the 6th P.M., in Hall County,
<br />Nebraska.
<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 prolits, rev arsions 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 December 10, 1990 having a maturity date of November 25, 2020
<br />In the original principal amount of $_ 77,000 00 , and any and all modifications, extensions and renewals
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any of them if more than one) hereunder
<br />pursuant to one or more promissory notes or credit agreements (herein called "Note "). (b) the payment of other sums advanced by
<br />Lender to protect the security of the Note; (c) the performance of all covenants and agreements of Trustor set forth herein; and (d) all
<br />present and future indebtedness and obligations of Borrower (or any of them if more than one) to Lender whether direct, indirect,
<br />absolute or contingent and whether arising by note. guaranty. overdraft or otherwise. The Note, this Deed of Trust and any and all
<br />other docuents that secure the Note or otherwise executed in connection therewith, including without limitation guarantees, security
<br />agreements and assignments of leases and rents. shall be referred to herein as the "Loan Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
<br />1. payment of Indebtedness. All Indebtedness secured hereby shall be paid when due
<br />2. Title. Trustor is the owner of the Property, has the rig ni an-1 authority to convey the +property, and warrants that the lien
<br />creates hereby is a first and prior lien on the Property. except for dens and encumbrances set forth by Trustor in writing and
<br />delivered to Lender before execution of this Deec of Trust, and the executtor and delivery of this Deed of Trust does not violate any
<br />contract or other obligation to which Trustor is sablect.
<br />$. Taxes, Assessments. To pay before delinquency al; taxes, specs; assesj;ments and all other charges against the Property
<br />now or hereafter levied.
<br />4 Insurance. To keep the Proce. h. - ^sured against damag a by fire razards included withl with r tre term "extended coverage'. and
<br />such otter hazards as Lender may rfci -ire. in amounts and witn companies acceo(able to Len ver, naming Lender as an additional
<br />named insured, wrt^ loss payable to the Lender I- rase cf less under such ccl:cies. the Lender is authorized tc adjust, collect and
<br />compromise. all cla,rrsInereunder and shall have ire viobon of appivirr, a', c• ca,t o• the insurance proceeds 1 ` is any indebtedness
<br />secured reroby and in such order as Lender may c alpernrie. (ii) it the Trust.:: ce .,sed for the repair or rest. atior of me Property
<br />o- (; fo• any other purpose or object satisfactory to Lender wit ^r,:^ a"ectrrg the ben of this DeeC of Trust for the full amoun: secured
<br />re.,eov t:efore such payment ever took place Any acpiical:'- o' orcceeds to indebtedness e ?X of extend or poslecre the a ;e
<br />date of any payments under the Note, or cure any Celao" 1.2 +E -,or or hereunder.
<br />5. Escrow. Upon written demand ny Lender. i! s!or snap pay to Lender.," aut.i - mat v, a6 Lviivc May de5;yr'o«.
<br />sums to enable Lender to pay as they become dwe . ,u ,r more of the following f1) all taxes. assessments and ctner charges against
<br />the Property, (ii) the premiums on the property ir`3,.rance required hereunder• and t-,:I t l e Premiums on any mortgage insurance
<br />required by Lender.
<br />6. Malntenanee, Repaln 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, snail not
<br />commit suffer or permit any act to be done in or upon the Property in violation of any law, ordnance. or regulation• and shall pay and
<br />promptly discharge at Trustor's cost and expense all bens. 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 (hereinaft&
<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
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