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r ~ - t n P. M 110485 9 34* Ind The undersigned hereby acknowledges that (a) the document to be executed is a Trust Qa!rJ end not a mortgage end (b) the powef of 5810 Pro ad for in the Trust Dead provides substantially different rights end obligations to the undersigned then a mortgage in the event of a dofesdt or breach of obligation. The urd:,i*gnod turthar represents and swears that thin Jertificatioft has boon read and executed in eonnectiort with but prior to the undersigned's execution of the following Trust Dead. Dated dint, day o!~ HOME EQUITY LINE AGREEMENT TRUST DEED THIS TRUST DEED, made this __ZL day of . 19 _93_, by and arnong the Trustor, Myron L. Peterson and Lynne Peterson husband atnd w fe (herein "Borrower"), whose mailing address is 1629 Lariat Lane, Grand 191and._ Nej and FirsTier Bank, National &OS0_ ion. Omaha, Nghraaka (heroin 'Trustee*). and the Sane ,&ry,FirvTiot Bank. Natinnal_ Aannriation_ QMax t_ wlojo59 mailing address is ~ 17(1(1 Farm St_rPiat asks. (1mah Nak ragkn _ 68102 (herein *Lender"). BORROWER, in consideration if the indebtedness herein received and the trust herein created, irrevocably grants, transfers, convoys and ensigns to Trustee, in TRUST, WITH POWER OF SALE, the following dosedhad property, located in L1~11 County, Nebraska: r Lot Seven (7), Western Heights Third Subdivision, City of Grand Island, Hall County, Nebraska. TOGETHER with aft buildings, fixtures, improvements and appurtenances now or hereafter attracted thereon and all rights-of-way, sosemonte, rents, issues, profits, income, tenements, hereditament, privileges, appurtenances, royalties, and rilhorsl, oil, gas and water rights thereunto belonging, used or enjoyed with said land or any part thereof, all of which, including replacements and additions thereto shell be deemed to be and remain a put of the property covered by this Trust Dead; and all of the foregoing together with said proverty are herein referred to as the "Property,' TO SECURE to Lender the repnyment of Indebtedness evidenced by B<trrower's Home Equity Una Loan Agreement and Home Equity Note dated Nov_ _ 2L^, 19 9-1 together with any and all renewals, modifications, and extensions thereof and substitudon5 or e*hhangns therefor (herein the 'Nota') in the maximum principal sum outs.anding at any one time of 3 together with interest at the rate provided therein, with a find maturity, if not sooner paid, of -ht=- 77 18 9A , OW as security for any future ecivemes that may be mods by the Lender to the Borrower from time to time and as security for the payment of any and oil other Indebtedness of the Bo►rawer to the Lender which may arise, all of said sums not to exceed in the aggregate a sum equal to three fames the original principal amount of the Note, For purposes of the Home Equity Una Loan Agreement, paragraphs 2, 9, 4, 5 and 11 below shall he deemed covenants relating to the Property. BORROWER covenants that the Borrower is lawfully seized of the Property hereby conveyed and has the right to grant and convey the Property, that the Property is unencumbered by any mortgage, trust deed, contract to purchase or otherwise, except for a „ in favor of Fjrat_Farlernl Sit 0 013 Of an which the unpaid balance on this dots does not exceed It Lye X77 _ Qdi The Borrower covenants to comply with all the terms and provisions of any prior mortgage, trust deed at contract to purchase, upon the Property and to make all payments it-arson before they become delinquent. II no name or amount to inserted in this paragroph, than the Borrower covenants that there are no prior Mons or sneumbr2noes of any kino anon the Property, The Borrower further covenants to warrant and defend the tills to the Propany against all claims and demands, The Rotrowar and the LanrJer funhor covenant and agree as folluwa: I Tha Borrower shall promptly rosy when due the principal and interest on the Indebtedness evidenced by the Note. 2 At least ten days before they become delinquent, Borrower shall pay sit taxes and special sssessmants levied or assessed against Ow Properly, of any pan thereof, and ell taxes, levies end aessssments levied upon this Trust Dead or the debt which it secures, a. The Burrower shall keep the rmprovernents and buildings, if any, upon the Property insured, with a company or companies spprovsd by the Lender, for an amount not lose then the unpaid balance on the indebtedness secured by this Truitt Deed with a standard mortgage clause with loan payable to the Lender, 'rho Borrower shelf deliver said policy or policies to the Lander. In the event of a lass, the Borrower shall dive prompt notice to the insurance carrier and the Lender end file a pretof of loss, It the Borrower is not otherwise in default, the Borrower may elect to apply the insurance proeouds to repair or replace the damaged Property. If seenorricaly fessible, and the security of this Trust peed would not be impaired. If the Borrower Is in default or afeels not to repair or replace the damaged Property or repair or repledameni woutd not economically feasible or the security of this Trust Deed would be impaired than the Insurance proceeds shall be applied to the lost maturing payments duo coo the Note. If the i,pturan.:e vroceode ere in excess of the total amount due an avid Note, the excess shall be paid to the Borrower, Insurance proceeds for repair or raplaocoment shall be placed in escrn - are In excess of the total amount duo on said Note, the excess shell t±o paid to the Bormver ir. insurance proceeds for repair or replacement shall be placed in escrow with the Ls„der and disbursed by the Lender during or upon completion of such r ipsor or raplucoment. If the Lands; acquires tide to the Property by exerchur4il its power of sale, loreclosure of