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<br /> � ACKNOWLEDGEMENT OF OEED OF TRUiT 94� 10���
<br /> ' � TFUbTOR READ THIB OEFARi 810NMd0:
<br /> srwMH'undw�nds Ih�t th�doouieMrtt th�t Trwtor N about 10�x�cWr I��OMd ol Trwt�nd nol�morl0�p��nd 1hM Ilw Po�w►
<br /> of sst�DrovW�d ta in tM W�d M Trus2 prarWw aubN�nWUy dtlhront rlphd and obWpolon�10 TruMor th�n�morlp�p�in 1M warM
<br /> of a dN�uR or b�Mah of oWipallon und�►th�Dwd o!Trust,Inaludinp,but nol IImINd b,tM L�nd�'�riq�hf b haw the ProWrty soW
<br /> T�rwlotTbMor�tfr�x�autlo i of 11�O�i�d Tol Inp�.Tru�lor rpr�nb u►d w�rnnls that Ihw aak t wr�x�auMd by
<br /> �
<br /> (Noraan J. Kirschba )' T^'��
<br /> --- - =-- _ ' _ 7y .�.t�-+�«m-�
<br /> TruWO�
<br /> _ (llad�leine R. Kir�chbau4)
<br /> -- — - DEED OF TRU&T WITH FUTURE ADVANCES
<br /> THIS DEED OF TRUST.Is m�d�u of th��_day ot Februarv ,19.��.t,y and an►oop
<br /> —_ __=== ttw T�uaa, Norman J. Kirschbaua and Madeleine R. Kir�chbaum, Huaband and Wife ,
<br /> - .r' 114 E. Bismsrk, Grand Island, NE 68801
<br /> • wtws�msiAn�addro�s fs (h�rNn"Trustor,"wheth�r on�or mon�
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<br /> *r)r;`!`._ .' �.f' th�TrtutN� At va PntntO Ranlc r� Nehra�lri ('•••• ••••�rf nn - . -
<br />.. 'Fl.rrr A'..; ,.�,� . �
<br /> � .� ���'`�` whos�mailiny addr�as is 3 0 Box 1S07 Grand Islsad NE 6$802-1507 (h�reln"Tru�'�,and
<br /> ��� ' ����ry� Five Pointa Bank� a Nebraska Corporatioa _ ,
<br /> �•;.. . . ` .1.
<br /> .,,,•_.,... . .� ..�., whos�maill�y address i� - (h�nin"L�nd�►'�.
<br /> FOR VALUABLE CONSIDERATION,Inotudlnp LendePa extenslon ot crodit id�t1tl11id h�fYln t0 N.N'•mnn .7_ Kir�}L?+nim
<br /> �•�� aad Madeleine R. Kirechbaum, �` --
<br /> (heretn"Borrower",whether one or more)and the trust henin creaUd,
<br /> � e rec�p o w ic s ereby acknowledped,Trustor hereby Irrevocably��ants,tranafera,conveys and aqipn�to Trustes,IN
<br /> TRUST,WITH POWER OF SALE,torthe benef(t�ne seCersity of Lgnd�,eSt r aond a t�ett�tahst rmB�Dd c�qeBlt not�er�j('I�altec�st _
<br /> ---_--- ---= taAh,tha raa!properff,dCssrlbad as follows:rn w z 6 f i c ,s� cK
<br /> Seventeen (17) of Koehler Subdiviaioa, being a part of the SE�SW� of Section Fifteen
<br /> (15), and part of Lot Fourteen (14) of tbe County Subdivisioa of the W�SW� of �
<br /> Section Fifteen (15)� al.l beiag in Towuehip Elevea (11), North, Range Nine (9) West
<br /> of the 6th P.M., all as surveyed, platted and recorded in Hall Couaty, Nebraska.
<br /> � Toy�the�wlth ati buildinpa,improvemente,ffxtures,streets,aiteys, passageways,easements,rlphts,privflepea and appurte- _
<br /> ` nancea(ocated thereon or in anywiae pertaining thereto,and the rente,issues and prolita,reversions and remainders thereof,and
<br /> � suCh peraonel property that is atteched to the fmprovements so as to constitute a ilxture,Inciudinp,but�ot Umited to,heatinp and .
<br /> � coo�inp equipmen�and topether with the homestead or marital fnterests,if any,which Intereata are hereby released and watved;ail
<br /> �,t of which.tnciudinp replecements and additions thereto,is hereby declared to be a part of the real astate secured by the Iien ot thls �,,
<br /> �- - Oeed of Trust and all ot tha toreyoinp 6einp retorred to hcrein as tho"Proporty". --
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<br /> '� � • This Deed of Trust shaii sacure(a)the payment of the princlpal sum and Interest evidenced by a promissory note or credit
<br /> apreement datod RPhrnar,y 7' 1994 ,haviny a maturiry date of Fwhruary1� 1995 ,
<br /> . in the oripina�principal amount of S2D,D2 �� ,and any and ail modiflcationa,extensions end renewals
<br /> thersol or thereto and any and all future advances and readvences to Borrower(or any ot them if more than one)hereunder
<br /> ' pursuant to one or more promissory notes or credit ayreements(hereln called"Note");(b)the payment of other auma advanced by
<br /> Lender to protect the security of the Note;(c)the performance of all covenants and agreements of Truetor set forth herefn;end(d)all � ,
<br /> � present and tuture indebtedness and obllyetions of Borrower(or any of them if more ihan one)to Lender whether dfrect.indirect,
<br /> absoiute or contingent and whether arisinp by note,guaranty,overdreft or otherwise.The Note,thls Deed of Trust and any and ail �'
<br /> other dxuents that tecure the Note or otherwise ezecuted in connection therewlth,includinp without Iimitatfon yuaranteea,securiry
<br /> ti. �yreeiiiente and assipnments of teases and ronts,shall be reterrcd to harofn as thcs"Loan lnstrumonts". �:_
<br /> _ Trustor covenants and ayrees with Lender as foilows: }
<br /> � 1. PaymMt of Ind�bt�dn�w.All indebtednesa secured hereby shail be paid when tlue. ;.
<br /> , 2.Tfli�. Trustor Is the owner of the F�roperty,has the ripht and authorfty to convey the Property,and warrants that the Ifen
<br /> -a� created hereby Is a first and prlor Uen on the Property, except 1or Ilens and encumbrances set furth by Trustor in writfng and ,
<br /> • deifvered to�ender before execution of this Deed of Trust,and the execution and delivery of thfs Deed of Trust doea not vfolate any
<br /> ; :; ; � contract or other obllpation to which Trustor is subject. .
<br /> � , 3. Tsat�,Afswm�nb.To pay betore deiinquency aIi taxea,speciai assessments and ali other charyes ayalnst the Property
<br /> � now or hereatter�evled.
<br /> 4. inwrane�.To keep the Property insured ayainst damage by fire,hezards inciuded within the term"extended coverage",and
<br /> r � r auch other hazards as Lender may requtre.in amounts and with companies acceptable to Lender,naming Lender es an addihona�
<br /> . r � �emed fnsured,with�oss payabte to the Lender.ln case of loss under such poifc�es,the Lender is authorized to ad�us�coilect and
<br /> " . ' compromise,all claims thereunder and shail have the opifon o�appiying aIi or part of the inaurance proceeds(q to any indebtedness
<br /> � seCUred hereby and in such order as Lender may determine,(u)to the Trustor to be used tor the repair or reatoration of the Property
<br /> or(Iii)tor eny other purpose or object saUstactory to Lender without aflecting the Ifen of this Deed ot Trust tor the tull amount secured
<br /> �' herebv bsfore such payment ever took piace.Any appilcatfon of proceeds to indebtedness shatl not extend or postpone the due
<br /> date of any payments under the Note,or cure any defauit thereunder or hereunder.
<br /> � 5. Ercrow.Upon wrftten demand by Lender,Trustor shall pay to Lender,fn such manner as Lender may desiynate,suflicient
<br /> :' � sums to enable Lender to pay ea they become due one or more ot the lotlowing:(q so texes,assessments ano oiner onarges ayai�si
<br /> the PropeAy,(ii)the pramiums on the property insurance reqwred hereunder,and(ifQ the premiums on any mortpa�e insurpnce
<br /> � •, requfred by�ender.
<br /> 6. MaM�Mnsnc�. R�patn and Compllanc�with L.�w�.Trustor shalt keep the Property in qood condrtion and repafr;shall
<br /> ., prompVy rp�ir,or repiace any Improvement which may be damaped or destroyed; shall not commit or permit any waste or
<br /> • F � . daMtlOraLOn of the Property:shail not remove.demotish or subsbntioily elter eny of the improveme�ts on the Property:shail not
<br /> , � commit,sufter a permit any act to be done fn or upcm tAe Property in v�olahon of any law,ordinance.or reyulation;and shell pay and
<br /> ! . promptly discharye at Trustor's cost and expenss all Ilen�,encumbrancea and ch�ryes Ievied,imposed or assessed eqeinst tho
<br /> Prope►y or any part thereof.
<br /> 7. E��t OomNn.Lender is hereby assifln�d all compensation,awards,damayes and other paymenb or relief(here�nafler
<br /> � � ^ •'Procs�d�'7 In conn�ction wlth condemnat�on or other takinq of the Propwry or part thereof,or lor conveyance�n 1�eu ot ccndemna-
<br /> tlon.Lendar ahall b�ent�tted at Its option to commencs.appear in�nd prosecute in rts o�n neme any action or proceedinys.end
<br /> � ' shall aiso DQ w►tiUed to make�ny compromise or settlement In connechon wfth such taklnp or damape.In the event any portion ot
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