|
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />
<br />88- 100274
<br />
<br />r
<br />
<br />
<br />BORROWERS llEAD THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that the Borrowers are about to e
<br />
<br />PREFACE TO DEED OF TRUST
<br />
<br />COMPLETE thll porllon ONLY II the real properly delCrlbed con"l"'" ollNDIVIDUALL Y OWNED ,.GRICUL TURAL LAND.
<br />lIeppllceble, complete ONLY ONE either A, B, 0' C:
<br />
<br />o A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />
<br />The Borrower(s) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein. The Borrow~r(s). and each o! t~em if
<br />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," the
<br />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
<br />remains unsatisfied and a lien upon said rea: estate. there shall be no right to make a designation of homestead in the event of a foreclosure or trustee'ssalewith respect to
<br />said Deed of Trust
<br />
<br />o B. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />
<br />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
<br />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 designati.on of
<br />homestead and that by executing this waiver. they are waiving rights otherwise available forthe purpose of affording them the opportunity to retain their homestead In the
<br />event of a delault upon the Deed of Trust.
<br />
<br />o C. DESIGNATION OF HOMESTEAD:
<br />
<br />Pursuant to the Farm Homestead Protection Act (Section 76-1901 et seq. Revised Statutes of the State of Neb(aska). the Borrower{s). do hereby designate the real
<br />property described in the ""Designation of Homestead" attached hereto and incorporated herein by this reference.
<br />
<br />Borrower
<br />
<br />Borrower
<br />
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST. IS made as of fhe _~5 day 01 J.anaU.I:Y__ 198.8_. by and among the Trustor. Frpn W RrllI~h rind
<br />
<br />Margaret L. Rauch'-':ltJs.band_1L.W~ile_~~__~..__. whose mailing address IS _lJ_2Q...Nest
<br />NE (herem "Borrower"). the Trustee. _~illiam G. Blackburn, A Member of
<br />whosemailingaddressis_..R..~_Q....._~~~~O.~_a-.}!L.l_~).an_9.L.1.l.E 68802
<br />and the Beneliciary. _~_Fiy!=~ Points BanK-_____u__
<br />whose mailing address IS _P.Q...Box 1507, Grand~,Island, NE 68802-1507
<br />
<br />Oklahoma, Grand Islrlnd,
<br />the NE State Bar Assn.
<br />
<br />(herein "Trustee").
<br />
<br />(herein "lender").
<br />
<br />L
<br />
<br />FOR VALUABLE CONSIDERA TlON. including the Indebtedness Identified herein and trust herein created. the receipt of which is hereby acknowledged. Borrower
<br />hereby irrevocably grants. transfers. conveys and assigns to Trustee. IN TRUST. WITH POWER OF SALE. for the benefit and security of lender. under and subject to the
<br />lerms and conditions hereinalter selforth. the real property. described as follows: A tract of land lcr..ated in the southeast quarter of the 11Qrth-
<br />~t quarter (SE!Ntll) of Section Thenty-<A1e (21), 'fuffiShip Eleven (11) North, Range Nine (9) West of t..'1e 6th"P.11., IlOre p:rrtirn-
<br />
<br />larly described as follONS: Beginning at a ]Dint on the south side of Arma street of the City of Grand Island, Nebraska, 15 feet
<br />
<br />east of the \~t side of Jackson Street exterrled s::utherly, said ]Dint is also 1010 feet south\\esterly fran a ]Dint \..nere the south-
<br />
<br />erly line of Anna street intf'..rsects the east line of the southeast Q..Iarter of the north\..est quarter (SE!lW!) of Section Thenty-cue
<br />
<br />(21), in 'l\:J.oinship Eleven (11) lbrth, Range Nine (9), West of the 6th P.M., thence running in a southeasterly direction parallel
<br />
<br />with the \\eSt.erly line of Jack9Jl1 Street as exterrled a distance of 275' thence running right 'Xl degrees in a south\-esterly direction
<br />
<br />273.9 feet to a ]Dint that is also 257.2 feet fran a ]Dint.. on the east prClp2rt.y line of the QJunty Ro3.d, U1ence rurming right 'Xl
<br />
<br />degrees a100g a line parallel with the West line of Jacksa1 Street.. as exterrled, a distance of 127 feet, thence right 'Xl degrees aloog
<br />
<br />a line parallel with the south line of l\nna street 93.1 feet, thence right 127 feet a100g a line p3rallel with U1e \\est line of
<br />
<br />Jacksa1 street as exterrled to Closure, said Closure CXJI1Stitut..ing a tract of land 127 feet by 93.1 feet.
<br />Together with all buildings. improvements. fixtures. streets. alleys. passageways. easemenls. rights. priVileges and appurtenances located thereon or 10 anywise
<br />pertaining thereto. and the rents. issues and profits. reversions and remainders thereof; including. but not limited to. heating and cooling equipment and such personal
<br />property that is aUached to the improvements soas loconstitute a fixture; and together with the homestead or marital interests. if any. which interests are hereby released
<br />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 Trust and all of the
<br />foregoing being referred to herein as the "property"
<br />
<br />This Deed l)' Trust shall secure (a) the payment of the principal sum and Interest evidenced by Borrowers note and/or credit agreement dated ~___
<br />1 /1 "/RR . having a maturity date of 1 / 15 /9 3 . in the onginal prinCipal amount of S 100.000.00 and any and all
<br />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
<br />agreements {herein called "Note"}; (b) the paYfTlent of other sums advanced by lender to protect the security of the Note: (C) the performance all covenants and agreement
<br />0' Borrower set forth herein; and (d) all indebtedness and obligations of Borrower to lender whether direct. indirect. absolute or contmgent and whether ariSing by note.
<br />guaranty. overdraft or otherwise.
<br />
<br />Borrower. to protect the security of this Deed 01 Trust. covenants and agrees with lender as follows:
<br />1. P.,mentof Prlnclpail.nd Inter..t. Borrower shall promptly pay when due the prinCipal of and Interest on. and any fees or charges provided in. the Note or in this
<br />Deed 01 Trust.
<br />
<br />2. Tit... Borrower is theownerof the Property. has the right and authority to convey the Property. and warrants thill the lien created hereby is a first and prior lien on
<br />the Property. except as may otherwise be set forth herein. and the execution and delivery of this Deed of Trust does not Violate any contract or other obligation to which
<br />Borrower is subject.
<br />
<br />3. T..... A.....ment.. To pay when due alltaxe5. special assessmt:nts and all other charges against the Property and. upon written demand by Lender. 10 pay to
<br />lender such amount as may be sufficient to enable the lender to pay suo;h taxes. assessments or other charges as they become due
<br />4. In.ur.nee. To keep the Property insured against damage by fire. hazards Included within the term "el(tended coverage'.. and such olher hazards as Lender may
<br />ruquire. in amounts and with companies acceptable to Lender. and with loss payable to the Lender. In case of lOss under such pollclCS. the lende, IS authorlled 10 adlust.
<br />collect and compromise. all claims thereunder and shall have the oplmn of applying all or part of the Insurance proceeds II) to any Indebtedness secured hereby and III such
<br />order as lender may determine. (il) to 1he Borrower to be used for the repair or restoration of Ihe Prope:tv Of (Ill) lor any other pwpose or oblecl satisfactory 10 LcnU(H
<br />without allecting the hen 01 thiS Deed ollrus' lor the full amount secured hereby before such payment ever took place Any apphcAl10n of proc('(,'is 10 HH1ehlcdnoss 511.111
<br />not e.tend or postpone the due dale 01 any payments under tho Note. or cure any defaull thereunder or herellntj,~,
<br />
<br />5 M.lnt.n.nce RepI'" Ind Compll.nc. with l.w.. OOHower shall keop the Pfopcfly In good conditIOn {Hld repaH <;.t\.lll plOlnplly It'palf Of ropltKt. ,illY
<br />improvoment whiCh may he dillflaged or destroyed. shall not commit or pCrfntt any waste 01 delorlorallon of lI'D Pronerty shall nol IlHllOW tlnmoh<.,l' (H ~\lhSt;l;lli;)lIy allef
<br />any of tht) ImprovemenlS on lhe Property. shallllot commit, suffer or permIt any act 10 be dOIle> In 01 upon Ihe Property ", ,,'lul;tll()n ,)1 ,1n.., I,h" lHfhl1.lll(tl 0' fl'qu1illHJfl tlllll
<br />~hall flay 8nu p(ompllydi~chargf) III Burrowu'.s cosl anrJ (fx~Hn50 all liens. f~ncutnhrallcos and ChiHQPS lev Iud Impo';l'd ,_,t ,\<,Sl",'.('d ,lil,ltfl~;,1 p~!. "fIJ~h'n\' Of ,IIW jl\lI I "Wft'O!
<br />
<br />
<br />,
<br />
<br />r..t"1;
<br />.'1
<br />!
<br />'~
<br />.....
<br />[g.
<br />
<br />,/
<br />t:.,
<br />
<br />,~..,
<br />
|