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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88- 102627
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<br />1I0nROWERS READ THIS BEFORE SIGNING:
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<br />Borrowors (Trustors) undorstand thallhu document that the Borrowers are about to execute laa Deed Of Trust and not a mortgage and that the power 01 sale provided
<br />for In the Deed 01 Trust provides substantially different rlgnil:l and obllgatlonl5 to the Borrowers than a mortgage In the event 01 a detDult Of breach of obllgBlion under Ins
<br />Oeed of TrusI, Including, bul nolllm1ted to, Ihe Lender'. rlghl 10 have the Reel Prop<J oold by the Truotee without any judlclel proceeding or foroclooure, Borrower.
<br />represent and warrant that 'his acknowledgement was executed by them be rare t eKe utlon of the Deed of Trust.
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<br />
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<br />COMPLETE Ihll polllon ONLY lithe ""I propally ducrlbad con"l"'" of INDIVIDUALLY OWNED AGRICULTURAL LAND.
<br />I! Ippllclble, comple'e ONLY ONE either A, 8,0' C:
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<br />o A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />The Borrower(s) acknowledge that they BfB about to e:ltecule the follOWing Deed of Trust upon the roal estate described therem. The Borrower(s). and each o~ them jf
<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 In the
<br />future be situated upon said real estate. The Borrower(s) understand that II olther establishes a homestead on any part of said real Eslate during the time the Deed of Trust
<br />remains unsatisfied and a lien upon said real estale. there shall be no fight to make a designation of homestead in the event of a roreclosure or 1rustee's sale with respect to
<br />said Deed of Trust
<br />o IJ, WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />The Borrower(s) acknowl3dge that they are about to elCecute the follOWing Deed of Trust upon the real estate described therein. The Borrower(sl. and eac.h of t~em jf
<br />more than one. de hereby waive thelf right to designate a homestead pursuant thereto The Borrower!sl understand that they have the fight to make a deSIgnatIon of
<br />homestead and that by executing this waiver. they are waiving rights otherWise available lor Ihe purpose of altordlOg them the opportunity to retain their homestead in the
<br />evont of a default upon the Deed of Trust
<br />o C, DESIGNATION OF HOMESTEAD:
<br />Pursuant to the Farm Homestead Protection Act (Section 76-1901 01 seq. ReVised Statutes at the Stale 01 Nebraska). the Borrower(s). do hereby designate the real
<br />property described in the "Designation 01 Homestead" attached hereto and Incorporated herein by thIS reference
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<br />Borrower
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<br />Borrower
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS OEED OF TRUST, IS m"de", of Ihe2,Othd"y 01 M~y 19 1l8~ ~ by and "mang the Trustor, Duane C. Burney &
<br />Beverly J. Burney-.._~I:n.lJl!:;l~,n~:LaJl~wif~ wna,e ma,hng "ddres.,o Q056ZoIiLLane....._Grand 1!;land, NE
<br />..6B.B03-1522 __~ lhere,nBorrower"!,theTruSle. William ~. B,I~ac::!(bJ,lrn" C1~ member ~()f.tl1~ NE State Bar Assoc.
<br />whosema.hngaddresslS ,e!,Q~_~Q.~.1~!!Q.f,~Qranci Island, NE 68~~()2-2280 lherein-Trustee"),
<br />and the Boneflclery, J:.iY.e ~,e.ojntliJ3,ank_
<br />who,oma,hngaddro'50' 1.c:t.J3_QX__L511.7 f 2015 N. Bro~dwe!I, Grand Island, NE 6880Z-1,5!t1, (here,n"Lende"1
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<br />FOR VALUABLE CONStDEAA TION, Including the Indebtedness Idenllflnd hU'l;!ln ilnd lrusl hCtlWI c;ru.l(uo lIw r(!l'olpl 01 which IS helcbv acknowledged. Borrower
<br />hereby Irrevocably grants. transfers. conveys and a551gosto Trustee IN TRUST WITH POWER OF SALE 10' tht. bunellll1f1d sIJcurlty 01 Lender under and subject 10 the
<br />terms and con::Jltlons hetelOaHer sel forth. Ihe real properly, described itS follows.
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<br />Lot Five (5) f situated on the East side of the East portion of Kuester Lake, being on a
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<br />part of the East Half (EI) of the Southwest Quarter (SWI) of Section Thirteen (13),
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<br />Township Eleven North (11~). Range Nine West (9W) of the Sixth P.M., Hall County,
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<br />Nebraska
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<br />Together with alt buildings. Improvements. II_tures. streets alleys. passagewais_ easemenlS r1ghlS priVileges and appurtenances located thereon or In anVwlse
<br />pertaining therE'to. and the rents, issues and prohts. reverSions and femalnders Ihereol. including but nol limited 10. heatlOg and cooling equipment and such personal
<br />property that is attached 10 the Improvements 50 as teconslttute a likturc, and together wllh the homcste.ld or malllalInlernsts.II any. which Interests are hereby released
<br />and waived. all of which. including replacements and additions thereto. IS hereby declared to be a parl ollho real oslale secured by the lien ollhlS Deed 01 Trust and all of the
<br />toregoing being referred 10 herem as tho .'property"
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<br />This Deed or Trust shall secure (0) the payment of the principal sum and Interesl e~ldenced by Borrower s noll' and/or credll agreement da1ed MilY__2..D-._
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<br />JJ!88 , having a ma'unty date af _.J.unU.~.oJ.~, ,n Iht! ang,nal pnnclp"' amounl al S 3~5~,,~OO~O~,-O.o~.~, and any and all
<br />modlflcstions. e.tenslons and renewalslhercof or therelo and any and alllulurc advances and readvances hereunder pursuant to one or morc promISsory noles or creOlt
<br />agreemenl& (herein called "Noto"); (b) the payment of othel sums 3dllanced by Lender to protect lhe security of ttH~ Notc {c~ the performance nil covonants and agreemenl
<br />of Borrower 101 forth flBreln; and (dl allmdebtedness and obligations 01 Borrower 10 Lender whethor dHecl mdlruCI. absolute or contmgenl.uld wtmll1er RrlSlng bV na1n.
<br />guaranty. overd,S!1 0' otherWIse
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<br />Borrower. to pro!ect the securify of this Oeed 01 Tru5t. CO'Jcnanls and agrees wIlh lendm RS follOW!;
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<br />1 P.'....nto'Pdnclpallllldlnl.r..L Borrower shall promptly pay wha" duo Ihp prIncipal of .1nd Il1lert!sl on .\nd anv lees Of chnrqo!'i provldcl1 In the Nots 0' In !hls
<br />Deed or Trust.
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<br />2. ..,.... Borrower I!.theownor o'!he Property. has Ihe fight and aut"Otlly 10 con\ley t"e Properly. and warranls lhallhe hen crenled hereby I! II flrSI nnd prior lIOn on
<br />l'he Proper~v. oacepl II maV otherwise be sot forth herein. and the OlCRtutlon and doll very of thl& Deed 01 fru!>? dons 1101 vlolnle any contrnel or other obhgatu,ln 10 which
<br />Oo"o.~ ~I lubject
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<br />3_ T...., ......menl.. To pay when due all HUUI, speclol nne5,mon1s Bnd all olher charges agalnsllht!' Properly llnd, upon wrtl10n d(lml\na by Lender. to pay to
<br />liltncUt, tuch amounl a, May eo 5u'ftclIIl'"' 10 ennble the Lendor to pay SUCh laltf!1ii. d!loseS5monl. or olho, ctlnrgos as Ihey hocome due
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<br />.. Inltl..w:-.. To kHD thtlt Propenr J1\turod Soalngt damage b)' fire hilUHds Included Within Ihfllo"Tl 'e.1cndod cove'AUc and SUCh olh(lr hillA.ds AS lendor mar'
<br />'rrqu"e, /I', ltrnmmf'l ROO WII" cornpBnlf'S ,u:ceplablfl to lrmd(tr. and wllh 10'" payablo It) Iho lende, In CllSf:> ollO!lJ undtH 'Llch pOlICies Itl~ ll~l1dt1r IS nlJlhotlled to BdltlSI
<br />COIlt;tCt At\d (:(<.tI'IptOff\la., alJc.llfl""l,hn't'uM1i!H Dn('i shall ~ihfllhe (Iphon of opp1V1f1g all Of part of th@IO!;UrIlnCClP'OClJUl.1SII) 10 lIny IndllbfndlWg~ s....cul(ld hprnby :HH11n !Il1c:h
<br />')tC1flr U \.Cnd~f "14y dtHOrtT\fuo. {1i)'0 '''iii BOlrower to bl'! u,ed for It'n r"p-411 or rnMorahCln rJ' 1he Pr()Pt~rty (1f flUl 'Of nn.,. nlh"'l PUlJlO!iI' 0' OI)I(\CI ~ill"JlilCh'll'Y 10 ltlnlh~r
<br />WlthOvt ;UKung 'he hltn of 1tUI Ol:'ud 01 Tru'Sl ror 1he full Amounl r.ecufiltd h"'~f)'l' t1(!ll)l~ !iuc-h p.3I('n'~nt ever look Illac~ ^-,,~' .3pphC.Ut<Hl (,1 proct'('11~ III H'Ilh,r'h'dnf?-!;'!i ~hllll
<br />nO! ".llInO or ~,por.. lh[l "uP. dJUt!' nf IIn,. pavm.,nt1 tJOdf;"J Ihl.' Notl!' W cwu Itny eJr.rault Hwrn\lndt1f or hor('hJnc1(J'f
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<br />50 l'atn:,.n.a1tC:e ",,'Ira Ind CompUanc. ..nh 1...,. OO"O",~I rthall Ilr.-..p th~ Pro,m,''l' In (Jr:'I(l{j l;onct,"on Ill1d "-PII" 0;".111 pflHU,!rl~ 'PI'.'" .l' '"pll" ,. .1",
<br />,m.p,O'..Ocmord ,,"u(.h rft..~ eot' d4m.tJJ.'o(J. Of 1:.e'~01f!otl s-h1\lI hOt comml' Ot CI~rmrl fin. .;.'t!lIQ <-If delf.'tl:).llt,or, Ilf 'h~ Prop..."I,. oljllllll nnl "HlIl'~'" lh'''llll...I. ,01 'IOt,...I.l',I."II, ~1111'1
<br />>II"'" "'the Iffl[t(O"""m.rr\l. on tl1ft P~'OP'!fty ~"4i1 nQl,!:ommll. liutlnf (It ",,,,,m.I.",;, Act If) lW:' donfll" Of upo.t ~'\t' PrnpfHly.n Y"l,IAI,<iI\ ullll', I.'.... 11"1"1.''',,, i" '''Cj,da''.ln nr\il
<br />",t,.;~ [..s.. IIMcHtttnr,l!"I' i.!.~u:.t1.'!,lt!llt!~f'o-trfIf''fl CO!l:' IIl"1d ..r(lfi.H.a111t"fltl.""nc{!",\t1r,,"\. fl" 11",1 ctlltfQfl1lIt"....4.rl .,.,-'1.0......' n. II~IU'-.io'-",' rHI.1,n'l.llt", 1"fllli"'. 'If ""~ p.,I' Ill""'",
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