200307371 - Laserfiche WebLink

Browse

200307371 TRUSTOR'S WRITTEN ACKNOWLEDGMENT (Waiver of Homestead) The undersigned represent and warrant as true each of the following statements with regard to the attached Deed of Trust: 1. We acknowledge that we did read, sign and execute this Written Acknowledgment before we signed the Deed of Trust. 2. We understand, and understood before signing said Deed of Trust, and acknowledged that the Deed of Trust is a trust deed and not a mortgage and that the power of sale provided for in the Deed of Trust provides substantially different rights and obligations to us than a mortgage in the event of default or breach of obligation under said Deed of Trust. 3. We understand and acknowledge that in the event of the default or breach of obligation by us, the Deed of Trust allows the Beneficiary the right to have the trust property sold by the trustee without any judicial proceedings or foreclosure. 4. We represent and warrant that this written acknowledgment was written and executed by us before the execution of the Trust Deed. 5. We understand and acknowledge that we have the right to make a designation of homestead in the Deed of Trust and we hereby waive such right. 6. For so long as the Deed of Trust remains unsatisfied and a lien upon the real estate, each of us waives any right under the Nebraska Farm Homestead Protection Act to make a designation of homestead. 7. We understand and acknowledge that our execution of this Written Acknowledgment constitutes the waiver of rights otherwise available for the purpose of affording us the opportunity to retain our homestead in the event of a default upon the Deed of Trust. This Written Acknowledgement is a preface to and is filed for record with and is a part of the attached Deed of Trust. STEPH N P. HANSON TRUSTOR K-11 4Y J. SEN TRUSTOR