|
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />
<br />88- 104243
<br />
<br />...
<br />
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand thllt the document that the Borrowers are about to execute is a Deed 01 Trust and nol a mortgage and thatthe power 0' sale provided
<br />for In the Deed of TrUlt provides substantially different rights and obligations to the Borrowers than a mortgage In the Bvent of 8 default or breach of obligation under the
<br />Deed 01 Trust, Including, but notllmlled 10, Ihe Lender's right to haye Ihe Real Properly sold by Ihe Trustee wllhout any judicial proceeding or toreclosure, Borrowers
<br />represent and warrant that this acknowledgement was executed by them before the execution 0 the Deed of Trust.
<br />
<br />
<br />ry)
<br />
<br />PREFACE TO DEED OF TRUST
<br />
<br />COMPLETE Ihl. portion ONLY lithe reel property deocribed conlllto ollNDIYIDUALLY OWNED AGRICULTURAL LAND,
<br />II Ippll.,,""', complete ONLY ONE either A, B. or C:
<br />
<br />o A, DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />
<br />The Borrower(s) acknowledge that they are about 10 execute the following Deed of Trust upon the real estate described therein. The Borrower(s). and each ofthern i1
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrow~r(s) is ~resently or will in the
<br />future b015ltulled upon said real oatate, The Borrower{sl understand that If either establishes a homestead on any part of said real estate dUring the time the Deed otTrust
<br />remBtns unsatisfied and a lien upon said real estate, there shall be no nght to make a designation of homestead in the evenl of a foreclosure ortruslee's salewilh respecllD
<br />sold Deed of Trusl
<br />
<br />o B. WAlYER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />
<br />The Borrower(s) acknowledge that they are aboulia eJl:ecule the following Deed 0' Trusl upon the real es~ate described therein, The B~rrower(s). and eac.h of t~em il
<br />more than one. do hereby waive (heir right 10 designate a homestead pursuant thereto The Borrowerls) understand Ihatthey have the right to make a deslgnatl.on 01
<br />homestead and that by o)t8cuting this waiver, they are waiving rights otherwise available for the purpose of affordmg them the OpponuOlty to retain their homestead In the
<br />eyent of a default upon Ihe Deed of Trust
<br />
<br />CJ C. DESIGNATION OF HOMESTEAD,
<br />
<br />Pursuant to the Farm Homestead Protection Act (Section 76-1901 e~ seq. Revised Statutes of the State of Nebraska), the Borrower(s). do hereby designate Ihe real
<br />property described in the "OesignatlOn 01 Homestead" attached hereto and incorporated herein by this reference.
<br />
<br />Borrower
<br />
<br />Borrower
<br />
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, OS made as of Ihe 1st d.y 01 )~,_!.I.9,l,I_$_t 19 88_. by .nd .mong the T<u51or, Rickls Lawn
<br />Care, Inc. ______._' _ _ __u.....____.. whose mad,ng addres..s P-,-O,__..Box._777. Grand Island. NE
<br />68802-0777 _ (here," -Borrower-, the Trustee, William...G~B.lackburn.....iL3Ilember of the NE State Bar Assoc. I
<br />whose mailing address os _.E.._Q.--.Box_llB.lL._ GrantLlsland... NE.. . 6.8BJl2=228.0__..,_______________(herem -Truslee").
<br />andtheSeneliclary, Five Points Bank.,___.. _m_____.._..._____________.___ -,--.-.------.
<br />whose madlng address IS P. Q,_ _~_~___tsJt7 JJ"_and_ I slanc;l_L !"I.E.__ .!iJU!02 :-.1507__ _. _ _ ____ (here,n "Lender'"
<br />
<br />FOR VALUABL.E CONSIDERATION, Including the Indebledness Idenltlted herem and trust heretn crealed. the receipt 01 which tS hereby acknOwledged. Borrower
<br />hereby irreVocBbty gran1S, transfers. conveys and assigns to Trustee, IN TRUST, WITH POWER OF SALE. tor the benefll and secunty of Lender. under and subject to the
<br />terms and condlllons hereinafter ser forth. the real properly, deSCribed as follows
<br />
<br />Lot Two (2), Theasmeyer-Neubert Subdivision, in the City of Grand Island, Hall County,
<br />
<br />Nebraska.
<br />
<br />L
<br />
<br />Together with all buildings. ImprovemenlB, fllilturos, stroet5, alleys, passageways, easements, rights, priVileges and appurtenances localcO 1lloreon or In anYWise
<br />pertaining thereto, and the rents, issues and profits, reversions and remainders thereof; Inclulllng, but nol hmlled to, heotlng and cooling cqUlpmenl and sucn personal
<br />property that Is BUached to the ImprovemenlS 80 as 10 constitute a fi)tture; and together With tho homestead or mantnllnterC5ts, If any, wl'lIch mterests are hereby released
<br />and waived: all 01 which. Including replacements and additions thereto, IS hereby declared to be a pari ol1hc real eS1atc secured by (he hen of (hiS Decd 0' TruS1 and all oflhe
<br />foregoing being referred to herein as the "property"
<br />
<br />Thl!l Deed of Trust shall secure (a) lhe payment 01 the prinCipal 9um and Intorest evidenced by Borrower's nole andler cmdlt agreemont da1ed II8-1~ -88
<br />
<br />,having a maturily dale of ...Jll!.:-..1~-2003 .10 Ihe o"g,"ol p"nclpal amoun, 01 $ .5.!1-LJt~_ and any and all
<br />modl'Jcations. edenslons and renewals thereof or thereto and any and all futuro advances and readvonces hereunder pursuanllo one or more promIssory notes or credit
<br />cgreemenls (hareln called "Nola"l: (b) tho payment of othersumsadvanc&d by Lendono prOlecllhe securrty 01 the NOlc, (cllhe performance all coven801s andagreemcnl
<br />of Borrowe, lot forth herein: and (d) alllndebledness and obllgallons of Borrower 10 Lender whether dIrect IOdtreCl, absolute or contlngen1 amJ wnether arismg by note,
<br />guaranty. overdrslt or otherwise.
<br />
<br />Borrower, to protect the security of thls,Oeed or Trust. covenants and agrees with Lender as follow!;
<br />
<br />1. P.,men' 01 Prlnclpll8nd 11I1.,..t. Borrower shall promptly pay whon due the prinCIpal of and Interest on. nnd any feos or charges prOVided tn. the Note or '" thIS
<br />Deed of TrUll.
<br />
<br />2. TIUe. Borrower lathe owner oltha Proporty. has tho right and 8uthorlly to convey tho Proporly, and wo,ranls thai tho hem croaled hereby IS n f1r91 and prior hen on
<br />tho Propttrty, except.1 may otherwlla be 50l forth heroin. and tho exocutlon and delivery of thl!] Doed 01 Trust daDS nol VIolate any contrAct or 01 her obligation to whIch
<br />Borrower is subject.
<br />
<br />3, T..... A.....m.nt.. To pay when duo a1l1BJl:8S, spacial assessmonls Bnd all other charges agolnstlhe Property and. upon wfll1en demnnd by Lende" to pay to
<br />lendS! such amount as may bl..sultlclenlto enable the Lunder to pay such taKO!!, O!!!!USS01onts or olher chargos n!l they become due
<br />
<br />4, InauI.ne.. To keep the Property Insured against damago by lire, hazards includod within tho torm "o.ltlondod coverage". nnd suell other hAlards as Lender rT'IB)'
<br />requlre,ln amount. and with companlos acceptable 10 Londor, nnd wl1h 109B p&IIBble to tho londor In CRSO of 10M under such poliCieS. lho Lor,dOf tS Aulhorlzed '0 adlust.
<br />colleclsnd compromise, 811 clalmslho'eundor and shall haIJo Ihe option 01 applying all or part of the In!lurnnco proceods (1110 any Indobl(ldOl..!!ls !Iocurod hereby nnd lr. such
<br />order a& Lendor may dotarmlne, (II} to tho Borrower to be used lor Ihe rapalr or rOBloratlnn of the Proporly or (Ill) tor any oth..~r purpflse or oblecl sAtisfaclory to Lrnd('I
<br />wnhout 2Irtoc'lng the lion of this Doed 0' Trust lor tho lull amount &ocurod horeby bolero such paymont DIJar look plncD Any npl,hr.nllon 01 :'fOt:C'NI~ 10 lndrh10dn(>!ts Shill!
<br />not e"tend or poslpono lhe due dale of any paymonts undor tho Nolo, or curn any defnulllhorounder or horeundor
<br />
<br />5, ".In!lnlnel Repllra Ind CompUlne. with L.wI. Borrower shall keep the Property in good condllton nnd If'pAII !\l1illl plumplly '''pl1ll 111 It'plner n"y
<br />Improvemunt which 'nfty be damagod or dOl!llroyod, shall not commit or pormlt Any waste or dotorlornllon of Iho P'op~II'V, ShAll no' Fl\IlH1Vl' rlOI1\ClIt..h ur sllbslantlAlly allp,
<br />Bny 0' the Improvement' on 'he Properly; shall not commit, Buffer or parmlt nny oct to bo donn In or upon lhc PropprlV In vtCJlnlmn nl/lI1V tlllr\ 1111111111"\ t' III 'fllJlI'nllllfl rmet
<br />shall pay and promplly dlschargo ot Borrownr's coat nod c..ponso 011 lions, nncumbronCOlJ Bnd cholges IOVlOd ""posed I)' A5Sfl~!U'tl Rqnlll!\' lIw PI LlI"'!h III nil\, pMI IIWII",1
<br />
|