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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88-
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<br />1027159
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<br />80RAOWERIREAD THIS BEFORE SIGNING:
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<br />Borrowers {Truslor:;) understand that Ihedocument that the Borrowers are aLDuI to execute Is a Deed of Trust and not B mortgage and that the power of Bale provided
<br />for In the Deed 0' Trust provides substantially different rights and obllgallons 10 the Borrowers than a mortgage In the event ola default or breach of obligation under thA
<br />D..d 0' Trust, Including, but not limited to, the Lender's righlto have the Real Property sold by the Truslee without any judicial proceeding or toreclosure, Borrowers
<br />represent and warran' that this acknowledgement WBS eMecuted by them before the execution of the Deed of'Tr 15t.
<br />
<br />
<br />Mary G.
<br />
<br />PREFACE TO DEED OF TRUST
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<br />COMPLETE Ihl. portion ONLY II the re.' property dOlcrlbed con.l.t. 01 INDIVIDUAllY OWNED AGRICULTURAL LAND.
<br />lI.ppllc.ble, complete ONLY ONE either A, 8, or C:
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<br />o A DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The 8orrower(s) acknowledge that they are about to execute tho following Deed of Trust upon the real estate described therein. The Borrower(s). and each ofthem if
<br />more than one, do hereby disclaim their right to designate a hl)mestAod pursuant thoreto. No part of the home~tead of ellher of the Borrower(s} Is presently or will in the
<br />future be siluated upon said real estate. The Borrower(s) understand that if either establishes a homestead on any part of said rElal estate during the lime the Deed oiTrus!
<br />remains unsatisfied and a lien upon said real estate, thore shall be no right to make a designation of homestead in theevent of a foreclosure or trustee's sslewith respect to
<br />said Deed 01 Trusl
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<br />o B, WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
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<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 althern it
<br />more than one, do hereby waive their right to designate a homestead pursuant thereto. The Borrowerts) understand that they have the right to ma~e 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 default 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 Protection Act ISection 76-1901 et seq. Revised S1a1utes of the State of Nebraska). the Burrower(s). do hereby designate the real
<br />property described In the "Designation of Homestead" altached 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
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<br />THIS DEED OF TRUST, IS made as 01 the 2~__ d'y 01 __1'1EY-______ 19 ~ by and among the TruSlor. Cal ton L. Bretz
<br />and Mary G. Bretz, husband and wife of_~~emall,"gSddreSSls 2415 N. Kruse. Grand Island,
<br />other, each 1n h.u;h~~~'B~:;;'r"Pt~el}ru;;.;;g~~____________--Rastings State Bank NE
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<br />whoSemailingaddressisPOBox2178-1-__H~tli.ng.s~__.NE.__ jiJl.9- 0 2- 21 7 8 (herein "Trustee"l,
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<br />andlheBeneflciary, Hastings Sti;lte J3anL_ ___
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<br />whose mailing address is PO Box - 217~~l?t:i1!gE_.L_J'l:!;:m__68_902-.?178
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<br />(herein "Lender-)
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<br />FOR VALUABLE CONSIDERATION, including the Indebtedness Identified herein and trust herem created. thp. recelp1 01 which IS hereby acknowledged, Borrower
<br />hereby irrevocably grants, trans'ers, conveys and assigns to Trustee. IN TRUST. WITH POWER OF SALE. for 1he benelit and secunty I,)f Lender. under and subJect to the
<br />terms and conditions hereinafter set forth, the real property. deSCribed as 10llows
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<br />Lot two (2), Block Four (4), aIde Mill Subdivision, to the City
<br />of Grand Island, Hall County, Nebraska
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<br />** This is a Construction Security Agreement **
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<br />Togalher with all buildings, Improvements. 1ix1ures. streets. alleys, passageways, easements, ngh1s. pnvileges and appurtenances located 1hereon or in anywise
<br />pertaining thereto, and the rents, Issues and profl1s, reverSIOns and remainders thereof: including, but n01 limited to, heating and cooling equipment and such personal
<br />property that is attached to the improvements so as to constitute a 1ixture: and together with the homestead or marital Interests. ir 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 1he feal estate secured by the hen 01 thiS Deed of Trust and all 01 the
<br />foregoing being referred to herein as the "property"
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<br />This Deed of Trust shall secure (al the payment of the pflncipal sum and mterest evidenced by Borrowers note andior credit agreement dated
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<br />5- 24- 8 8 . having a maturity date 01 11- 2 4 -' 8 8 . in the original principal amounl ot S 40. 00 0 . 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 n01es or credit
<br />agreemenls (herein called "Note"~: (b) the payment of other sums advanced by Lender ta protect the security of the Note. (cj1he performance all covenants and agreement
<br />01 Borrower set forth herein; 8f1d (dt all indebtedness and obligations 01 Borrower to Lender whether direct, indirect, absoluto or contingenl and whether arising by nOle.
<br />guaranly, overdraft or otherwise.
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<br />Borrower. to pro1ect the security of this Deed of Trust, covenants and agrees with Lender as tallows;
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<br />1. P.rm.nl ofPrlnc1r-1 and Inl.r..t. Borrawershall promptly pay when due the prinCipal 01 and interest on. and any fees or charges prOVided In, the Note or in this
<br />Deed 0' Trust.
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<br />2. Tille. Borrowerls the owner of the Property, has the right and Buthonty to convey the Property. and warrants that the lion croated hereby IS a first and pnor lien on
<br />the Propeny. except as may otherwise be sel forth herein, and the execullon and delivery of this Deed of Trust does not violate any con'tract or other obligation to which
<br />Borrower Is subject.
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<br />3. T8..., AlHaam.ntl. To pay when due all ta)(os. special assessments and nil othor charges against the Proporty and. upon written domand by Lender, to pay to
<br />Lender such amount as may be sufficient 10 em ble the Lender to pay such ta)(es, assessmen1s or other charges as they become due
<br />
<br />4. Inlurance. To keep Ihe Property insured against damage by fire, hazards Included within the term "eJltended coverage". and such other hazards as Lender may
<br />require. in amounts Bnd with companies acceptable '0 Lender. and with loss payable 10 the Lender In case 01105'9 under such pollcics. 1he Lender IS au1horlzcd 10 adJUSt.
<br />collec1 and compromise. all claims thereunder and shall have the option of applying all or part 01 'he Insurance proceedS (i) to any Indebtedness secured hereby and in such
<br />order as Lender may determine, (Ii) 10 the Borrower to be used lor the repair or re5toraUon 0' the Proper1y or (Iiil for any other purpose or abjeC1 satlstac10ry 10 Lender
<br />without affecting 'he lien 0' this Deed of Trust for the full amount secured hereby before such paymont evor look place Any application or proceeds 10 indebtedness shall
<br />not extend or pOB1pono the due da1e 01 any payments under the Nole. or cure any delault theroundor or hereunder
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<br />5. Malnt.nlnc. Rep.l,. and CompUlnce with LIiIW., Borrower shall keep the Property In good condItIon and repair. shall plomplly 'epalr. or replace .lny
<br />improvemenl which may be damaged or deslroyed. shell nol commit or permit Dny waste Of deleflornttOn of the Property. shall not remove dmnohsh or 5ubslnnUally allm
<br />anyo' lhe improvements on the Property. shall notcomml1. !IUtr8f or permit any act la be done In or upon the Property In vlolallon 01 any lAW ordinance. 01 regulation Ilnd
<br />shall pay and promptly discharge at Borrower's COl1 nnd expense sllllens. encumbrances and charges 1m/led Imposed or Dssessed agalnSllhf' Proporty or any p.,rl thelt"of
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