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i f1 I j I I I ..'&-;:- L c C a.<: l;l~ ,;) ACKNOWLEDGEMENT OF DEED OF TRUST 88~OOla5 BORROWERS READ THIS BEFORE SIGNING: Borrowers (Trustors) understand that the document that the Borrowers are about to execute is a Deed of Trust and not a mortgage and that the paw8.' of sale provided for In the Deed of Truat provides substantially different rights and obligations to the Borrowerathan a mortgage in the event of a default or breach 01 obligation under the Deed of Trust. including, but nbt limited to. the Lender's right to have the Real Property sold by the Trustee without any judicial proceeding or foreclosure. Borrowers represent and warrant that this acknowledgement was executed by them before the execution of the Deed of Trust. (RS~~A)-&~x pmon' Married Borrower PREFACE TO DEED OF TRUST COMPLETE thll portion ONLY" thl rll. property deocrlbed conl'"11 of INDIVIDUALLY OWNED AGRICULTURAL LAND. I! wppllclbll, compllte ONLY ONE Il!her A, B, or C: o A, DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD: The Borrowar(s) acknowledge that they are aboulto execute the following Deed of Trust upon the real estate described therein, The Borrower(s). and each of them if more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrower(s) is presently or will in the future be situated upon said real estate. The Borrower(s) understand that if either establishes a homestead on any part of said real estate during the time the Deed of Trust remains unsatisfied and a lien upon said real estate. there shall be no right to make a designation of homestead in the event of a foreclosure ortrustee's sale with respect to said Deed 01 Trust o B, WAIVER OF RIGHT TO DESIGNATE HOMESTEAD: The Borrower(s) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein. The Borrower(s). and each of them if more than one. do hereby waive their right to designate a homestead pursuant thereto, The Borrower(s) understand that they have the right to make a designalion of homestead and that by executing this waiver. they are waiving rights otherwise available fOi the purpose of affording them the opportunity to retain their homestead in the event of a default upon the Deed 01 Trust. o C, DESIGNAnON OF HOMESTEAD: Pursuant to the Farm Homestead Protection Act (Section 76-1901 et seq. Revised Statutes of the State of Nebraska). the Borrower(s). do hereby designate the real property described in the "Designation of Homestead" attached hereto and incorporated herein by this reference. Borrower Borrower DEED OF TRUST WITH FUTURE ADVANCES PROVISION THIS DEE~F TRUST, is made as oflhe _6_dayof _M..n.U.aJ:.Y_, 19~, byand among the Trustor, Ralph Iv. Eaton, A ~,,~i erson _,_.whosema,lin!laddress", __~9~<_~~x_~~5 Grand Island, NE 68802-0885 (hereIn "Borrower"), the Trustee, _JtiJ,Jia.rn G.-13.J._ac~h.ur!1.--.1!__~I~!l)b_er of the NE State Bar Assn. whosemailingaddressisP.O.Box2280Gr~u~?-.!.~land.NE;~~~02-=?2..!.~._________ (hereinnTrusteen). Five Points Bank and the Beneficiary. whose mailing address is ~Yox 1507 Gra~~uIslan~~~E 68802-1507 ~____.._ (herein "Lender"~. FOR VALUABLE CONSIDERATION. includmg the mdebtedness Idenlllled herem and trust herem created, the recerpt of which IS hereby acknowledged. Borrower hereby irrevocably grants. transfers. conveys and assigns to Trustee. IN TRUST. WITH POWER OF SALE. fer the beneht and security of Lender. under and subject to the terms and conditions hereinafter set forth. the feal property. descnbed as follows: Lot ~~o Hundrd Seventy (270) in West Lawn, an addition to the City of Grand Island, Nebraska, as surveyed, platted and recorded Together with all buildings. improvements. ftxtures. streets. alleys. passageways. easements. ughts. priVileges and appurtenances located tnereon or In anywise pertaining thefeto. and the rents. issues and profits. reversions and iemainders thereof; Including. but not limited to. heating and cooling equipment and such personal property that is attached to the improvements so as to constitute a fixture; and together with the homestead or marital interests. If any. which interests are hereby released and waived: all of which. including replacements and additions thereto. is hereby declared to be a part of the real estate secured by the lien of this Deed of TI ust and all of the foregoing being referred to herein as the "property" This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by Borrower's note and tor credit agreement dated 1 /F./RR ,having a maturity date of --.lJ.D/!l1 ,in the original principal amount ot S 4,781 83 and any and all modifications. extensions and renewals thereof or thereto and any and all future advances and readvances hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment of other sums advanced by lender to protect the security of the NOle. (c) the performance all covenants and agreement of Borrower set forth herein; and (d) all mdebtedness and obligations of Borrower to Lender whether direct. mduect. absolute or contingent and whether arising by note. guaranty. overdraft or otherwise, Borrower. to protect the security of this Deed of Trust. covenants and agrees With lender as follows 1. Pa,ment o' Principal and Int.rn.. Borrower shall promptly pay when due the prinCipal of and interest on. and any fees or charges provided in. the Note or in thiS Deed of Trust. 2. Title. Borrower is the awnerof thePropertv. has the right and authority to convey Ihe Properly. and warrants that the lien created hereby is a first and prior lien on the P'roperty. except 85 may otherwise be set forth herein. and the ex~culion and delivery of this Deed of Trust does nol violate any contract or other obligation to which Borrower is subject. 3. T..... ~... To pay when due all taxes. special assessments and all other charges agamstlhe Property and, upon writlen demand by Lender, to pay to l:ender such amount as may be sufficient to enable the lender to pay such taxes. assessments or other charges as they become due. 4.. tnaurance: To keep the Property insured against damage by fire. hazards included within the term '"extended coverage", and such other hazards as lender may ,equlre.ln amounts and with companies acceptable to Lender. and wllh loss payable to the lender Irl case 011055 under such policies.lhe Lender IS authorized to adJUSt. collect and compromise. all ciaims thereunder and shall have the option of applying all or part of the msurance proceeds (1110 any lfldebtedness secured hereby and In suet) O~d8t as Lender m!lY determine. (il) to the BOffower to be used for lhe repall or restoralion of the Property or (HI) for any other purpose or ohlcel satisfactory 10 lender Without attecltng the hen 01 this Deed 01 Trust for the fuli amount secured hereby before such payment over loOk place AllY appllcatH~') of nroC:CH'Js to Hldchtedncss shill! not 9ktend or postpone 1ho due date at any payments under the Note. or CUle any default thereunder or hEHCWHtcr 5. M.kt"nance "ep.l" and Complllnce 'With l..I. Borrower shall keep the Properly If) good (t)f)lltll(HI tlnfJ I{I"<1" ",~l,lll fHt)IllPlly '('pall (1I ICpl;1c{' any Improvement 'A'hiCh m3Y be damaged or destroyed. shall nol comnHI or perrmt any waste or dc1c001.,lion ollf1e PropClly stl.1H nol 'l'nlO\'l' demOlish 01 'iut'slanll<tlly ,lU('r any of the improvements on tho Property, shall no' commit. suHor or perroll any act to bo dono In 01 upon 111(' P~OlltHI., Ifl 'JloliHH)I' "I ,l"y l.-IW ortJlfl,lI\U' 0' '('OIJI,l1l~)f' ;1fl{J ~hall pay ilnd promptly dls-charge al BOffower.s (.o!>, and oJ:pen!iO all liens.. enCllmtHanC05 alH1 c t.arqt-'<;' It'v'I'tl ,n'pr:s,",l ", ,1"'.I''i..h'I'.j,l,n~llIll' P'olWrl\ or ,lnv {',tI i ll1wpol j" k "I"- ~,~ '," ~'-' . ':;'t'" ~r \1 J " ":~ ,- .. (.