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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88-100624
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<br />DORIIOWERS READ THIS IJEFORE SIGNING:
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<br />Borrowers (Trustoi"s) understand that the document that the Borrowers are about to execute is a Deed of Tr~st and not a mortgage and that the powe,r 0ls81e provided
<br />tor In Ihe Deed ot Trust provides substantially differenl rights and obllgallonslo Ihe Borrowerslhan a mortgage III Ihe evenl of a defaull or breach of obligation under Ihe
<br />Deed of Trust. Including, but nOlllmlled 10, the Lender', righl to have the Real Properly sold by tho Trustee without any ludlclal proceedlllg or foreclosure. Borrowers
<br />reftr,efe/ll and werranl that this acknowledgement wes executed by them before Ihe execulion of Ihe Deed 01 Trust.
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<br />(C. ~g~r, Nels , /) '. B~rro:er Husband)
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<br />V;Ty;l.iv;:l-X '."1.-"'1 /J ./@:-lt1tt:2J
<br />Borrower
<br />(LaVonne R. Nelson, Wife)
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<br />PREFACE TO DEED OF TRUST
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<br />COMPLETE Ihle portion ONL Y If Ihe real properly delc,lbed conllell ollNDIVIDUALL Y OWNED AGRICULTURAL LAND,
<br />II applicable, complele ONLY ONE elthe, A, D, or C:
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<br />o A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrower(s) acknowledge thai they are about to execute the follow",g Deed of Trust upon the real estate described therein. The Borrower(s), and each of Ihem if
<br />more Ihan one, do hereby disclaim their right to deslgnale a homestead pursuant therelo. No part of the homestead of either of the Borrower(s) is presently or will in the
<br />future be situated upon said real estate. The Borrower(s) understand that it 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 real estate. there shall be no right to make a designation of homestead in the event of a foreclosure or trustee's sale with respect to
<br />said Deed 01 Trust
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<br />o B. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrower(s) acknowledge thai they are about 10 execute the 101l0Wlllg Deed ofTrusf upon the real esfate deSCribed Iherein. The Borrower(s). and each of them If
<br />more Ihan one, do hereby waive their right 10 deSignate a homestead pursuant thereto. The Borrower(s) understand Ihat they have Ihe right 10 make A designation of
<br />homestead and that by executing this waiver, they are waiving rights otherWise available for the purpose of affording them the opportunity to retain their homestead in the
<br />event of a defaull upon the Deed of Trust.
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<br />o C. DESIGNATION OF HOMESTEAD:
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<br />Pursuant to the Farm Homestead Proteclion Act (Seclion 76-1901 et seq. Revised Stalutes of the State of Nebraska). the Borrower(s), do hereby designate Ihe real
<br />property described in the "Designation of Homestead" attached hereto and Incorporated herein by this reference.
<br />
<br />Borrower
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<br />Borrower
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
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<br />THIS DEED OF TRUST. IS made as of the ..L day of .Jan.Qi,U....Y__ 19.6.lL. by and among Ihe Truslor. .~. Roger Nelson
<br />and LaVonne R. Nelson,_~H_u_st:>.Clnd_9I!c1 \'life whose mallong address IS _n4.0~.1'_heaS<LlltJ2Kive. Grand
<br />Island, NE 6880llhereon'Borrowen the Trustee William G. Blackburn, A membe.!_.c>!~_t!:~.li.~_S_ta~~ar Assn.
<br />whosemailingac1ress.s__LO.Box228~.<;iraDQIsland.NE .~~QL___._____ (herein "Trustee"),
<br />Five Points Bank
<br />
<br />and the Beneficiary.
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<br />whosemalllngaddressls~_..Box.l5o.7.__..Gr.and . Island,__NE.__6.8BD2_n__
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<br />_____.~___~ (hereon "Lender").
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<br />FOR VALUABLE CONSIDERATION, Including the Indebtedness identified herem and trust herem created. the receipt of which IS hereby aCknowledged. Borrower
<br />hereby irrevocably granls. transfers. conveys and assIgns to Trustee. IN TRUST. WITH POWER OF SALE. for the bene"l and security of Lender. under and subjeclto Ihe
<br />terms and conditions hereinafter set forth. the real property descnbed as follows
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<br />Attachment hereto
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<br />Together with all buildings. improvements. fixtures. streets. alleys. passageways. easements. rights. priVileges and appurtenances located thereon or In 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 thai is attached 10 the Improvements so as to constitute a fixture. and together With the homestead or marital Interests. If any. which Interests are hereby released
<br />and waived; all ot which. including replacements and additions thereto. IS hereby declared to be a part of the real estate secured by the lien of thiS Deed 'Jf Trust and all of the
<br />foregoing being refarred 10 herein as the "properly"
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<br />ThiS Doed ot Trust shall secure (a) the payment of the prinCipal sum and mterest eVidenced by Borrowers note and'or credit agreement dated _~______.
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<br />._ljAL~___.__ . having a maturity date of ......lL4J.2.Qfl3 In the 0"9",al prinCIpal amounl 01 S J~OOO 00 and any and all
<br />modiflcntlons, oKlenSlona Bnd renewals thereat or thereto and any and all future advances and readvances hereunder pursuant to one or more promissory notes or credll
<br />agreomonts (horolncalled "Note"): (b) the payment of other sums advanced by Lender to protect the securtty of the Note. (c) the performance all covenants and agreement
<br />of norrowor ttit forth horein: and (d) all Indebtedness and obligations of Borrower 10 Lender whether dHect. Indlfect absolule or contingent and whetiler ariSing by note
<br />gU8'ftnly. ovordraft or otherWise
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<br />BorroY!er, 10 protect the securily of lhis Deed of Trust. covenants and agrees WIth Lender as fOIlOW$
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<br />t P8~m.nt 0' P,lnclp81.nd InI8'..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 of T rUlt
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<br />TU". Borrower is the owner of the Property, has the right and authOrity to convoy the Property. and warrants lhat the lien crealed hereby is a first and pnor lien on
<br />tho Property. 811cept as may otherwise bo set forth herein. and the executIOn and delivery 0' thiS Deed of Trust does not Violate any contract or other obligation to which
<br />Borrower IS subject
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<br />3 T...., A.....m.nt.. To pay when due alllaxes. speCial assessments and all other charges against the Property and lJpOn wntten demand by Lender. to pay 10
<br />Londer such amount as may be suffiCient to enable the Lender to pay such taxes. assessments 0' other charges as n'ey become due
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<br />4 Inaur.nc.. To k~ep the Property Insured against damage by fire. hazards Included Within the term e.-:lendcd coverage and such other hazards as Lender may
<br />reqUire. in amounts and With companies accoptable to Lender. and With loss payable to the Lender In case 011055 undtlr Such pOlICIes the Lende' IS authoflzed to adjust.
<br />collecl8:ld compromise, all claims thereunder and shall have the opllon of applymg all Of part of 1he '''SlJrancn p'vc'~e(Js 11110 IIny 'm1ebtm1nuss secured horeby and 111 such
<br />order 85 Lender may l1elormlnO. (ill to the Borrower to be usod for the ropalr or restoration of IhE' Properly or llll) lor ilny c.,lhnr purposn l'r ohleclsatlsfactory to Lender
<br />wilhOut affecting the lien of thiS Deed of Trust lor tho full amount socured hereby before SUCh paymenl e...(H lOOk 1'1.1[(' Any f1ppl'Cl1hOn of proceottslO IIldobl0dnoss shall
<br />nol ollland or postpono 1he due date of any payments under tho Note or curlt'! any r10hwlt lhcreuntj(!f Of h(H(lUf1de,
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<br />Maintenance R.palr. and Compliance with LRW', OOflOWUr 't.nall kecp Ih(> PrOPt'lIf ,t, \J00(1 r nnI111,(}n ,\m) t(,Pdll shall plomplly "'pitH or rcpiMC "'fly
<br />Irnptov~mt!f11 whiCh may be cJnmagQ(J or d~gtroycd ~hall not commit or potnlll any Nil!1te Of delonoratl(1I1 fJ' tlw P,OlWlly ~hflllllnllt\rnovn dt'fllOIIc,.I' ('I suhstl\nlmlly .1 lit' I
<br />"flY of 'he imptO\lem{\nts on the PrOptHIV shall not c.ommll. \uttar 01 pOrll111 ,lny nellu ho dono III 0' 'SpOIl ltw P';Jl'f"lv 01' \lIltalfon 01 M\, ;,h~.. ..11(1,1..11\( I' 01 I(Hlulatton ,\f\j1
<br />"1311 pay a:nd ,"lromplly dl'Jchargf! af Bortow~' !) cost find oJ:puIlse alf Iton'i encumt)'.lnr{!~ ant1 (lI;lrq(l') '(.....'I..~ . '''1..)',1'.-1 ," .1'\..,,~...,,(1 .11j.j "f,! '1,(, p. 'I.erl...." -"'V Piltt thtlrf'of
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