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<br />ACKNOWLEDGEMENT OF DEED OF TRUST $I-J00J)()Y
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<br />TRUSTOR READ THIS BEFORE SIONWO:
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<br />Trustor understands that the document that Trustor 16 about to execute Is a Dead 01 Trust and not a mo MS and that 10 Power
<br />different rights and obligations to Trustor than 8 rnoftago In the event
<br />of sale provided for in the Dead of Trust provides substantially
<br />Dead Trust including, but not limited to. the LendW'S right to have the Property sold
<br />of & idelauft or breach of obligation under the of
<br />Trustor represents and warrants that this acknowledgement was executed by
<br />by the Trustee without any judicial proceeding.
<br />Trattor before the execution of the Dead of Trust
<br />L e l n S effe� T
<br />u
<br />Marilyn A. S eiTr "Of
<br />DEED OF TRUST WITH FUTURE ADVANCES
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<br />THIS DEED OF TRUST, jismade as of one 27th day of November 1910-- by and among
<br />Leland L. Steffen and Marilyn A. Steffen, husband and wife
<br />the Trustor.
<br />"Trustor." whether one a moyet
<br />- Grand Island 68801herein ir
<br />whom mailing address is
<br />Five Points Bank, A Nebraska Banking Corporation
<br />this Trustee
<br />P.O. Box 1507 Grand Island NE 68802 (heroin "Trustee"). and
<br />el
<br />whom mailing addresses
<br />anking Coripgrar inn
<br />the earneficistry. Five Points -
<br />whose mailing address is P.O. Box 1507 Grand Island, NE 68602 (herein "Lender").
<br />FOR VALUABLE CONSIDERATION. including Lender's extension of credit identified herein to Leland L. S—teff-P-o
<br />and wife ore) and the trust herein created,
<br />and Marilyn A Steffen, husband them, "Borruk%ei,", whether one or m 14
<br />Trustor hereby irrevocably giants. transfers. conveys and assigns to Trustee, fl
<br />the receipt of which is hereby acknowledged. Tr h after set
<br />and suojeci tn the terms and conditions herah -
<br />TRUST, y ST WITH POWER OF SALE. for the benefit and securi o f Lender, under
<br />fortih, the real property, described as follows:
<br />Lot 2, Western Heights Fourth Subdivision, in the City of Grand Island,
<br />Hall county, Nebraska.
<br />Together with all buildings, Improvements, fixtures. Streets, alloys. passageways, easements, rights, privileges and appurte-
<br />the rents, issues and profits, reversions and remainders thereof, and
<br />nances located thereon or in anywise pertaining thereto, and
<br />property that is attached to the improvements so as to constitute a fixture. including, but not limited to. heating and
<br />such personal
<br />cooling equipment and together with the homestead or marital int erests, il any. which interests are hereby released and waived; all
<br />a e lion of this
<br />is hereby decla7 ad to be a part of the real estate secured by In
<br />of which, including replacements and additions thereto,
<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 />'
<br />A
<br />October 261 1990 24 1991
<br />agreement dated . -having a maturity date of Apri
<br />in the original principal amount of $ 40,020 50 and any and all modifications, extensions and renewals
<br />of them it more than one) hereon er
<br />thereof or thereto and any and all future advances and readvances to Borrower (or any
<br />(herein Called "Note"), tb) the payment of other sums advanced by
<br />pursuant to one or more promissory notes or credit algreerre�ls
<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 it more than one) to Lender whether direct. Indirect,
<br />of otherwise. The Note, this Deed of Trust and any and all
<br />absolute or contingent and whether arising by note, guaranty, overdraft
<br />secure the Note or executed in connectior,lierewith. including without l.mitalion guarantees, security
<br />other docuents that sec
<br />agreements and assignments of leases and rents, shall to reietred to herein as the "Loan Instruments".
<br />Trustor covenants and agrees with Lender as follc%% ts:
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<br />1. Payment of Indebtedness. All indebtedness secu-e d hereby shall be paid w-en due
<br />2. Title. Trustor is the owner of the Property, has the right and Authority to convey the Property. and warrants that the lien
<br />created hereby is a first and prior lion on the Property, except for lens ano encumbrances Sol forth by Trustor in writing and
<br />and delivery of this Deed of Trust does not violate any
<br />10.1".5.
<br />delivered to Lender before execution of this Deed of Trust, and the executior
<br />Trustor subject.
<br />contract or other obligation to which is
<br />3. Taxes, Assessment*. 7c pay before delinquencv al tares. special assessments arm all other charges against the Property
<br />now or hereafter levied
<br />-f `P-.-rerty insured against darria9t, ty fire. Vazards included within the to•tr 'extended Coverage and
<br />4. Insurance. To keeg:, I - -
<br />an es acceptable to Lender. •.r•,-a Lender as an additional
<br />sucrother surds asLender may reciurtr �,,Imnirts and %%.!,ccr-
<br />named Insu,fed, with loss payable to the Lender if, case of loss urde; such Policies, the Lenders li.inonzed to adjust. collect and
<br />-0110no,appivirL a,. o, pail of the insurance proceeds () to any undebt edness
<br />compromise. Bit claims thereunder and shal-lay.el,,e,
<br />lender rray dele• in P l,)to the 7,-Lsi:e tote .geC'Tf the rPPO.'o- restoration olthe Property
<br />secured hereby and in such order as
<br />or (ill) for any other purpose or object satisfactory to Lencir without affecting the lien 0'• 1-1 -S ;;teed of Test for the full amount secured
<br />hereby before such payment ever took place. Any application of proceeds to Indebtedness shair r,. r extend or postpone the due
<br />— ...... A., —
<br />date of any payments under the Nuiti. ul C-i6 ail-ii
<br />5. Escrow. Upon written demand by Lender, Trustor shall pay to Lender. in such manner a,� -e-vp, may designate, sufficient
<br />sums to enable Lender to pay as they become due one or more of the 0,:zlowing ill all taxes. assessrra-,$ and other charges against
<br />the Property. (it) the premiums on the property insurance required hereunder. and 1m) the premiums on any mortgage insurance
<br />required by Lender
<br />6. MaInteriance, Repalft 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 darna;v,7 or destroyed. shall rOT COMMIt Of permit any waste or
<br />aw vements on the Property. shalt not
<br />the Property: shall not remove, demolish of Substairf i, aiter any of the imP?o
<br />deterioration of
<br />commit. suffer or permit any act to be done ,nor upon me Property rn woLa*,,ort of any law, ordinance. of regulation. and Shall pay and
<br />promptly discharge at Trustor s cost and expense all liens. encumorances 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 />Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and
<br />tion.
<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 />NIDC 3457 11f~K0twIJ 00") Oft 10 86
<br />Igo p6rmnei 96Ak al Com—rrm T-w and Ss-vs PO&II11162
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