|
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />
<br />88- 102541
<br />
<br />UORROWlEl'lI READ THI18EFORE IIGNINO:
<br />
<br />Borrowers (Trusters) underatllnd'that the document thltthe Borrowers .areabout to execute is a Deed of Trust and not a mortgage and thai the power of sale provided
<br />'or In the Deed of Trust provides lIubstantlally different rights and obligations to the Borrowers than a mortgage In the event 01 a d=....llt Dr breach of obligation under the
<br />Dued or Tru,,', Including, bUl not limited to. the Lende(s right to have tho Aeal Property sold by the Trustee without any judl I prot::oedlng or foreclosure. Borrowers
<br />reprosont and warrant that this acknowledgement was BliCBcuted by them before the execution of the Deed 01 Trust
<br />
<br />Good n onstruc~,
<br />
<br />
<br />
<br />Borrower
<br />
<br />
<br />PREFACE TO DEED OF TRUST
<br />
<br />COMPLETE 'hi. portion ONLY II the ..... pn>peIly _rtbed con.I... 01 INDIVIDUIlLLY OWNED AGRICUL ruRAL LAND,
<br />lIeppllceb", ......p.... ONLY ONE either A, 80 or C:
<br />
<br />[J A, DISCLAIMER OF RIG..T TO DESIGNATE HOMESTEAD:
<br />
<br />The Borrower(.~ acknowledge that they are about toexacute the followmg Daed at Trust upon the real estate described therein. The Borrower(sl.and each ofthem if
<br />more than one. dlJ hereby disclaim their right to dosignate 8 homestead pursuant thereto No part of ~he homestead 01 either at the Borrower{s) Is presently orwill in the
<br />'uture:Je situated upon said real estate. The B-orrower(s) understand that if either establishes [I homestead on any part of said raalesta's during the time the Deed clTrust
<br />remains unsatisfJed and Blleo upon SBld real estate. there shall be no nghllo make 8 designation of homestead in the event of a foreclosure or trustee's 58Ie'A:1h respect to
<br />said Deed 01 Trust
<br />
<br />[J B, WAIVER OF !lIGHT TO DESIGNATE HOMESTEAD:
<br />
<br />The Borrower(s) acknowledge 1hallhey are about to eKecute the foll<Jwlng Deed of TruSl upon the real esla1e described therein. The 8~rrower(s). andeaC_h at them if
<br />more than one. do hereby waive their right to designate a homestead pursuanllhereto The Borrower(S) understand tna11hey have Ihe rlghllo make a deSignation of
<br />homestead and thai by executing thiS waiver. they are walvmg flghls otherWise available fOI the purpose 01 alfordlng Ihem theopportunlly 10 retsln their homestead in Ihe
<br />event of a defaull upon the Deed of Trust
<br />
<br />[J C DESIGNATION OF HOMESTEAO:
<br />
<br />Pursuant to the Farm Homestead Protecllon ACIISechon 76-1901 et seQ RevIsE"d Slalules of 1he Slate of Nebraska). Ihe Borrower(s), do hereby designate the real
<br />property described in the "DeSignation of Homestead" anaehed herelo and Incorpolaled herem by IhlS reference
<br />
<br />Borrower
<br />
<br />Borrower
<br />
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />
<br />THIS DEEO Of TRUST IS macJe as 01 the 9
<br />Construction,L, I,nc:!,_
<br />NE
<br />
<br />(harem Botrowut ). the T rusle~ Wi l ~ t9.ffi
<br />P'()!,l3ox ,~~El().! Grand Island,
<br />
<br />Bank
<br />
<br />cJi1V 01 May 1985 bV and among Ihe Trustor, u,~Qodwin
<br />.....nO!lt. m.llllflQ address IS 308 N. (~u_~:t:~_r, ~_S;~~,:!!-d Island,
<br />
<br />G, Bla.c_ltb.J!UkA i:l~!!lI;>~1:_of tlJ~ Nt;; State Bar Assn.
<br />NE 68802-2280
<br />
<br />whose mailing acldress 15
<br />and the BenefiCiary. __X~'!_e...~?~.~~ts
<br />whose nlallmg address IS _ J?.! Q~.. B_()x
<br />
<br />___ (nereln "Trustee~).
<br />
<br />1507
<br />
<br />Grand Island, NE
<br />
<br />68802-1507
<br />
<br />(herem -Lender-)
<br />
<br />FOR VALUABLE CONSIDERATION. including the lOdebtcdnes'S IdenttllecJ helE'm and tlLlSt herem created the receIpt 01 which 15 hereby acknowledged. Borrower
<br />heroby Hr6yocab1v grants. 1nmsfers, conveys and assigns to Trusteo IN TRUST WITH POWER OF SAl E lOt the benetll and secunty of lender. under and subJecttolhe
<br />1erms and conditions herelnaller set lorth. Ihe real propertV de!lcfloe-d as follows
<br />
<br />Lot three (3) Wolf 2nd Subdivision, City of Grand Island, Hall County, NE
<br />
<br />Together with 011 buddlngs, Improvement', fIxtures. streels alleys, passagewBVs easements flghlS prIVIleges and appurtenance:! loc;aletl thereon 01 In anywise
<br />per1tll",ng thereto. and Ihe rents, issue" and profl1S. reversions and remaInders Ihereof Includmg but nol limIted to hea1lng and cooling eQUlpmenl aoO SuCh personal
<br />property th.t i! BU~ched to 1he ImprOVBmen1$ 50 as 10 constilule a fucture and together wllh the homesleacJ or mon1allOterests .1 any whIch IOlereSls are hereby released
<br />and wDIVed; all 01 which. IncludlOg replacements and nddltlons thereto IS hereby declored ~o be a pari ollhe real eslate secured by the lien 01 Ihls Deed 01 Trust and all 01 the
<br />foregOing being relerred to herein as the "properly"
<br />
<br />Thil Deed 01 Trust shall secure (3J the payment of Ihe pnncapal sum and mlereSI eVidenced by Borrower's n01e Dndlor crean agreement daled
<br />
<br />--5/q/RR haVing 9 matunty date 01 __BL9./.as._____~ 10 Ihe onglOal pflnC;lpal amounl 01 S 32.._QQ9_1tO__ ~_ ana any and all
<br />modificationa. e.tamuons and renowal!lthereof or lhereto and any and all futuro advance:!! and ruadlfsncBS hereunder pursuanllo one Of more promissory no1m~ Ot credit
<br />agreements ~herBin called "Note"). (b) Ihe payment 01 other sums advanced by lender 10 protect Ihe !tecurlly of the Note. (e) 1he performance all c:ollenanls and agreement
<br />of Borrower set forth herein; and ~d) all Indebtedness and ObligotlO"!1 of Borrowel to lender whether cJuecl. todlrect absolute or contingent Bnd whether arising by n01e
<br />QU8ranty. overdrafl or D1herwiSIL
<br />
<br />Borrower. to protect the securily of thiS Deed of Trust. covenant!!! nnd agrees wl1h Lender as lollow!'i
<br />
<br />1. 1'&1""'" otPtlttctpalanclln"r..t Borrower shall prompllV pay when due 1he pflnclpal of and Inlerest on. end any lees or charges provlcJed In the Note 01 In lhls
<br />Deed 01 Tru'l
<br />
<br />2. ,.... Borrower II theOWn&f or the Property. has the fight and aU1honly to convey the Properl,., and warranls tha1 the lien crealed hereby IS a first Bnd prior llBn on
<br />the Property. 8JlCept aJ maV othe,wi8e be aet forlh herein. IInd 1h(> ekoeutlOn and d6liverv 01 thiS Or~ed of Trust daDS not violate Rny contract or other Obhgahon to which
<br />Borrowor IS .ubJect
<br />
<br />3 T..... AIeHMIeMa. To pav whon due 0Illa.os. specutl aneBlmenla and All other charges agillns1 the Properly and upon wnl10n demand bV lendel. 10 pay to
<br />londor .vch ammml..1o mly bIIluHiCltm1 to enable the Lendeor to pay SUCh lues. assessments Of olher charges as they become due
<br />
<br />.. .n....ance. To ll.41epthe Property inJured agalns, damage by Ilffl. hOl8rdJlncludfjd Within tho torm .'extended coverage" 8ncJ such other hazards as lcnd{>I' may
<br />rttqu1re. In amount, .and *iln comparuoa ..ceePlable to \.onder. and wI1h loss DRvable to the Lflnc'E1t In case of 1055 unde, suCh pollCICS the lender I~ aulhoflzed to ad/lIst
<br />colloct A:adc01Tlpt'omi'..l:itlclalm,thO'cvndDf Rndshall huvethe optionor npplVlng all Of paT I 01 thfl-Insurance pmcpecJs (I) 10 nny .ndeble(Jn('!M !H~C\HN' hef~bv lIhd In !iurh
<br />or~01 n Lende, m.y dalermlnt!, (!ilia 1t\eo BOfl'OWilH to b~ '-'led fur thfllef)al' or rnslor"llon ollhe Prop!:'rlv or 1m) 101 any athe' purpose 01 obJect "~11s.taC:lor\l to L~nt11'1
<br />_I'flout l!lft.cltno tha btln-ot 1hlt Oe&d of t'ru'l lo. Ihl!llull amoun1.Nwed hnrebv belore SUCh paymE"nt ever look platE' An.,. applll;ltll0n (\1 proc~:s 10 IIH1{'bll~dn[llGr. ,h.11!
<br />nol@alpm1 or P'O.-tuone the dUIlI da1e- of 111'1.,. CIAymcnl. unl'J"., 1he Notn OT cure IJn~ (]t"lauIlIN!'IeunOer 01 n[lrl'UnOfll
<br />
<br />~ ....~......,....... CompUane. with la... BOftl)wt" .rHtll kt'J'Op thofl Pro~'lv In gooO r.ond'tlon lInd r",p;ur 5-haH I1INTlptly rfOJ::tlH 01 "Ppllltt' l\n\'
<br />rm-p.rnYerr-.n1 *tl:lCn ma, bII dam.glH7 or cln~'oyeod, ,,,.n nol comml1 01 (Wrmlllln..- wasIl! 0' del1!'FlCHD110n 01 1"1'1 PrOI'('fh' S"AII !'In1 't:1mO,\.I' ,jt'moll~tl N !luh!ltl\nt.aIJ\' all",
<br />.nrQt rheJmr,fo".mf!ntt 0t'l1ne rr('l~rl11-",.1l not com"llt ~tJtt", {)I N,.,mlt.ny nct 10 bn don'" In or upQn 'h", Pro~rt't' ,,, ...I(,IOt'l)11 011lf1\' I""", 1:.rlH1lt'1f I' '1' ..~tJlllall(H1 .1nCl
<br />'loh.U D;f'J' 'l-T\I1 P,"O""Ptly ~tt!lC.h'Ijr~'" fJ.ortO,",t't c.oSct ana ~".P4'nse IIllltft"'.l!InClJmtlfllf'\tf!lI8ncJ th.rlJifOt; 1"\IIf'd I~Do~{,O (II 1J"!WlI~(JfJ IItJ.1,r\!l! I~lf" ~', t'r<-f'I'~ ". t1"~ 1'.1.IIt'1t'IfO,JI
<br />
|