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I maCelDENTAL . NEBRASKA FEDERAL RAVINGS BANK 88- 101486 DISCLOSURE To: Helen Frerichs hereinafter designated Trus~ors. Occidental Nebraska Federal Savings Bank, hereinafter referred to as Beneficiary, does by this Disclosure state that the form of security agreement securing payment of a Promissory Note to be executed by Trustors is a Trust Deed which Incorporates the provisions of the Nebraska Trust Deed Act. Said Deed of Trust covers the following described property: and Richard A. Frerichs IDt Four (4) and the ~Vesterly Fifty-six feet (56') of IDt Three (3), all in Block Seventeen (17), in Kernahan and D3cker's Addition to the city of Grand Island, Hall county I Nebraska Beneficiary discloses to Trustor that said Trust Deed is not a Mortgage, and. further, that the Trust Deed provides a power of sale in the Trustee, which power of sale is exercisable under the provisions of the Nebraska Trust Deed Act without the approval of any Court. The Trust Deed provides substantially diNerent rights and obligations to the Trustor than 8 Mortgage in the event of 8 default or breach of obligation by the Trustor. If the Trustee exercises the power of sale upon the occurrence of Trustor's default without cure, the Trustor has no right to prevent 8 sale If the time granted by the Trust Deed to cure a default has expired. DATED February 29. 1988 Vice President We, the undersigned. have applied to Occidental Nebraska for a I n. he loan will be evidenced by a Promis- sory Note, the payment of which is to be secured by a Deed of Trust. We have read the above Disclosure presented to US by Occidental Nebraska. We acknowledge and understand that the document we are executing is a Trust Deed and not a t.fqrtgage, and that the power of sale provided for in the Trust Deed provides substantially different rights and ~llga~'s to Trustors than a Mortgage In the event of a default or breach of obligation. 'I-' .: ,- .~.J '", ~ By We. thl) ;TNltors, acknowledge that this Olsclosure was maqe prior 10 the execution of the Deed of Trust. if, J/1 I .1 'DAT~Dj'February 29. 1988 i. bOhr....-- 71/~//.h Q~JL2 , Richard A. Frerichs f"05fO" STATE OF NEBRASKA COUNTY OF IA~AS'rER ) ) ss, ) ,'\; The foregoing Instrument was BC'knowlecfged before me this 29th day of February ..l.9B B by Helen Frerichs am Richard A. Frerichs . Trustors, CiCMU! NOTARY.ftlttof_ BERQlm V.LA'" ;, ,My Comm bp, AII'iI2J,1981 ~ ---y .-:' ~J ,;0, ,/ '--:;./ ',;J:;~::'; .. Ill- 134