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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88-103643
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<br />BORROWERS READ THIS BEFORE SIGNING:
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<br />Borrowers (Trustors) understand that thedocumantlhallha Borrowsrsere ebout to eXlcutalsa Deed 01 Trustsnd not a mongaga and that the powerolll8le provided
<br />lor In lhe Deed 01 Trust provides substantially different rights and obtigationslo tha Borrowsrs than e mongegaln Iha evanl at e daleult or breach 01 obligatiOn under the
<br />Deed 01 Trust. Including, but noltimlled to. the Lender's rlghlto have lhe Reel Properly sold by the Truslee without eny Judicial proceeding or foreclosure. Borrowers
<br />represent and warrant that this acknowledgement was executed by them before the execution of the Deed of Trust.
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<br />M' dred A. ScheeJ.Borrowe
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<br />Borrowor
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<br />PREFACE TO DEED OF TRUST
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<br />COMPLETE 11111 portion ONLY It thl ""I property dllCrlbed conllltl 01 INDIVIDUALLY OWNED AGRICULTURAL LAND.
<br />IIlppJlclble. compllte ONLY ONE ellller A, B. 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 sreabout to execule the lollowing Deed 01 Trust upon the realntale described therein, The Borrower(s), and each 01 lhem II
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part 01 the homestead 01 either of the Borrower(s) Is presently or will 1:1 the
<br />future besltua'ad upon said real estate. The BorrowBr(s) understand that If eitherestftbllshes a homestead on any part of said real Bstate during the time the Deed olTrusl
<br />remains unsllllfled and alien upon said real estate, there shall be no right to makea designation of homestead in the event of 8 foreclosvre or lrustee'ssalewlth respeclto
<br />said Deed 01 Trust
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<br />[J B, WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrower(l) acknowledge that they are about to execute the following Deed of Trust upon the real eslate described therein. The Borrower(s).and each ofthem if
<br />more thin one. do hereby waive their right to designate a homestead pursuant thereto. The Borrower(s) understand that they have the right to make 8 designation of
<br />homesteld Ind that bV executing this waiver. they are waiving rights otherwise available for the purpose of affording them the opportunity to retain thelrhomestBad In the
<br />event 0' a default upon the Deed of Trust
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<br />o C, DI!SIGNATION OF HOMESTEAD:
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<br />Pursuant to the Farm Homestead Protection Act (Sechon 16~'901 et seQ. Revised Statutes of the State of Nebraska), the Borrower(s), do hereby designate the real
<br />property described In the "Designation of Homes~ead" attached hereto and incorporated herein by this reference.
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<br />Bortower
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<br />Borrower
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, IS made as olthelst. day of --JuLy.- ____ 19 a8-, by and among the Trustor, M; 1 nt'l;'n II I'l....h..el
<br />____________._.a.,whosemaltongaddressls 2521 West Koenig_ Grand Island
<br />Nebraska (herein "Borrower'l, the Trustee, ._J'1!!1-i~.m__(;..~___Blackburn, a Member of the NE State
<br />whose mailing address is P .0. BQ1L-~ .~J;J!,nd_l_~_t..~nc'l.L_~~___ ___,_ __'___ ~~re'n ~,5ls~J1)~
<br />and the Beneficiary. F'ive Points Bank ,____"_n._..___________u
<br />whose melling address is ~-"-, Bo x-.i.SO 7 , _9..~!lnd I~:tcm.c!J__N,I1: 68802 (herein "Lender"),
<br />FOR VALUABLE CONSIDERATION. including the Indebtedness Identllled herein and trust herem created. the receipt ot which is hereby acknowledged, Borrower
<br />hereby Irrevocably grants. transfers. conveys and assigns 10 Trustee. IN TRUST. WITH POWER OF SALE. for the benefit and securltv 01 Lender. under and subject 10 the
<br />terms and conditions hereinafter set forth. the real property, descrlbed 3!1 follows
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<br />Lot Eleven (11) in Block Ten (10) in Ashton Place, an
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<br />Addition to the City of Grand island, Hall County,
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<br />Nebraska
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<br />Together wi1h all buildings, Improvements, fiKtures. streets. alleys, passageways, easements. rights. prlvlleges and appurtenances located thereon or in anywise
<br />pertaining thereto. and the rents. Issues and profits. reversions and remainders the real: including, but not limited to. heating and cooling equipment and such personal
<br />property that I.. attached to the improvements so as 10 constitute a Ii.ture, and logether with the homestead or marital '"teresls. if any, which interests BrB hereby released
<br />and walved:all ofwhich.lncluding replacements and addillons thereto. 15 hereby declared to be a pari of the real eslate secured by the hen 01 this Deed of Trust and all 01 the
<br />foregoing being referred to herein 85 the "property"
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<br />ThiS Deed of Trust shall secure (8) the paymenl of the "Cipal sum and mterest eVIdenced by Borrower's note and/or credit agreement dated
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<br />7 -1 -AA ,having a maturity dale of 2.. , In the original pronclpal amount 01 $ 6 , 500.00 and any and all
<br />modifications, extensions and renewals thereot or therelo a nyan all f ure advances and readvances hereunder pursuant to one or more promissory noles or credit
<br />agreements (herelncellled "Note"); (b) the p.fllymenl of other ms advanced by Lender to protect the security olthe Note~ (C) the performance all covenants and agreen.ent
<br />of Borrower tet forth herein; and (dJ all Indebtedness and obllgalions of Borrower to Lender whether direct, Indirect. absolute or contingont and whether arIsing by note.
<br />guaranty. overdraft or olherwlse.
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<br />Borrower. to prolect the security of this Deed of Trust. covenants and agre05 with Lender 8S follow!'
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<br />1, 'I,menlof PrtriClpellndlnt.'HL Borrower shall promptly pay when due the principal oland inlerest on. and any fees or charges provided in. the Nole or in lhls
<br />Deed 01 Trult.
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<br />2. TtIIt. Borrow.,I.the owner ot the Proper1y, has the right and authority 10 convey Ihe Property, and wBrronls Ihat the lien created hereby is a flrSI and prior lien on
<br />the Proper1v, ..upt a. may otherwise be set forth herein. and the eKecullon Bnd dellve,y ollhls Deed of Trult does nol vlolale any contract or other obligation to which
<br />Borrower II lubjBCt.
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<br />3. T..... .....1mIft... To pay when due all t.xel, speclal"'Bllmentl and all other charges agall')st the Property and. upon wnl10n demand b't' Lender. 10 pay 10
<br />Lender luch amount .. MIV be autflclent to enable the Lender 10 p.y such tlKe., aslellmenll1 or other ch'Jrges as Ihey become duo
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<br />~ ' I............. To kCMIp the Prop"..ty Inlured Igalntt dlmlge by fire, hallrdllncluded within the term "sJltended coverage", and such olher haurds 41 Lender may
<br />require. in Imountllnd with companies acceptable to lender. and wilh 1011 payable to the Lender, In case ot loss under such pollclCS, the Londor IS Buthorlzed 10 adjust
<br />collect Ind compromise. III claim. thereunder and ,hi" hive the opllon ot IIpptylng III or pili of the Insurance proceeds (II to Bny Indobtodness SDcured hereby And In such
<br />order.t L.nd.r may determine, Hl1to Ihe Borrower to be u.ed for Ihe repair or ,ettarallon 0' the Property or (III) 'or Dny olher purpose 01 object sAtlsfactorv 10 Lendor
<br />without IUec::flng the lie" of Ihla Deed of Trust rortlote roll.moun, Hcured h'HUbV before .uch paymenl over took place Any appllcallOn 0' plocoods 10 Hlr1uhtudnf"!!S!t !thAII
<br />no. .xlend or po.tpone the due dlte of any plymflnt. under the Note, Of cure flny default thereunder or hereunder
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<br />5. ...........nce Repeln ."d Compliance with L.... Bo"ower ,hili k..p Iho Prop9tly In good condlllon nnd repair shllll p10mplly "'PillI, 0' rnplnCll Any
<br />Improvement which m.y bedam.goo Or d..troy.cj; ,hall nol commll or fHlrmltlny wlIsle 01 doUtrlo,atlon 01 the Property !lhRII nollomol/~, domolnih 01 !iub!\lnnllnlly nlll'I
<br />Iny oft.... ImprO\femtlnl. on Ihe Property: ah.1I nor commit, autr., or permlll"y IIcl to be done In or upon the Prop~rly In l/lolIJllon 01 Any la~, oldlrl"I1Ce 01 ,uqullllH111 nnt1
<br />ahlll PlVlnd prompllydlscharge at Bor,Owct,'lcoltlnd ,_pen...lIllen1 encuml:uancealnd chargol I.rm,d UTlpolt'd ol/U'J(J!I""d ,1gnl11511ho PfOllfIlty fH ltnV PIU11hl"l'ol
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