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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88- 104282
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<br />BORROWERS READ THill BEFORE SIGNING:
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<br />Borrowers (Trustors) understand thai the document that the Borrowers are about tOBxBcule Is a Deed 01 Trust and not a mortgage and thai the power 01 sale provided
<br />ror In the Deed or Trust provides substanlll!llly different rights and obligations to the Borrowers than 8 mortgage In the event of 8 default or breach of obligation under the
<br />Deed of Trust. Including. but not IImlled to, tho Lender's right 1D have the Real Property sold by the Trustee without any judicial proceeding or foreclosure. Borrowers
<br />represent and warrant thai this acknowledgement was executed by them before the execution of the Deed of Trust.
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<br />Borrower
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<br />PREFACE TO DEED OF TRUST
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<br />COMPLETE 11111 portion ONL V lithe ,,"I properly ""..,r1_ canllltl of INOIYIOUALL Y OWNED AGRICULTURAL LAND.
<br />n .ppllc.bIe, complete ONLY ONE .lIher A, 8. or C:
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<br />o A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrowerfs) acknowledge that they areabout to execute the following Deed 01 Trust upon the real estate described therein. The Borrow~r{s). ande.ach of them if
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No pan 01 the homestead of either 01 the Borrower(s} IS presently or will In the
<br />future be situated upon said realastate. The Borrowerls) understand that if either establishes a homestead on any part 01 said real estate during the time the Deed of Trust
<br />remains unsallslled and alien upon said real estate, there shall be no right to make a designation 01 homestead in the even1 of a foreclosure or trustes's sale with respect to
<br />said Deed 01 Trust
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<br />o B. WAIYER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />Tho Borrower(s} acknowledge thai they BrB aboul to execute the following Deed of Trust upon the roal estate described therein. The Borrower(s), and each at them it
<br />more than ono. do hereby waive theIr right to deSignate a homestead purs.uant thereto The Borrower(s) understand that thay have the right to ma~e a designation 01
<br />homestead and thai by executing this waiver. they are waiving rlghls otherWise avaIlable tor the purpose of affording lhem the opportuntly to retain theIT homestead in the
<br />event ala default upon the Deed 01 Trust.
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<br />o C DESIONATION OF HOMESTEAD:
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<br />Pursuant to the Farm Homestead ProtectJon Act (Section 76.1901 et seq ReVised Statules of the State at Nebraska). the Borrower(s), do hereby deSignate the real
<br />property described In tho "Designation 01 Homestead'. altached herelo and Incorporated herem by Ihls 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 />TH'S DEED OF TRUST. ,. made as 01 the ~'-th dey of Al!glJs t '9 ~8_1i . by and among the T,usto,. Delbert M. Brown
<br />Maria~~E~wn ,,~i~h jo~nt survivOI::s"h_i'p' whose ma,'ong addms. ,..!~8_!l'lEb~~"l'l~"enue. Grand Island
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<br />NE 68803 ___lhere,n'BormwenthcTmstec. "WJIJJ_ll.-m G._ _B~lickJ:lu}~~!1 A Mem"be~Cl!_theNebraska State Bar i i
<br />whosemailingaddres"s _~:g", BOlC"Z_Z80, Grand Island, Nebraska ._~~!lg,,~___ ____(herein"T~~~eC?,)c at or
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<br />end the Beneficiary. ___.!!y_e_foilltB __Ilank_ _ __ _______m.
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<br />whose mBiling add'es"s ___ E'! O.__1l9~ht5Qr1..9_~a_nd I~J._aIld, Neb_ras_kli."p8JlJl"2_u,, ___u__ Iherein "Lender")
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<br />FOR VALUABLE CONSIDERATION, Includmg the mdebtedness Identllled herein and Irust herein created. the receipt 01 which IS hereby acknowledged, Borrower
<br />hereby irrevocably granls. transfers. conveys and assigns 10 Trustee. IN TRUST WITH POWER OF SALE lor the benefit and secuTlty of Lender. under and subject to the
<br />lerms and condllions herelnaller sot forth. the real properly. descobed as follows
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<br />The Northerly One HlJncred Eighteen Feed (N 118') of Lot Two (2) of Block One (1)
<br />of Dickey Subdivision, Hall County, Nebraska
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<br />Together with all buildings. Improvements, lixtures. streets. alleys, passageways, easements. rights. priVileges and appurtenances located thereon or 10 anywIse
<br />pertaining thereto, and the rents, Issues and profits, reversions and remainders thereol; including. but nolllmiled to, heatmg and cooling equipment and such personal
<br />property that is altBched to the improvements so as 10 constitute a fl.ll.ture; and logether with the homestead or mantallnteresls. I' any. which Interests are hereby released
<br />and waived: all or \'Which, including replacements Bnd additions thereto. '5 hereby declared to be a part of the real eslate secured by Ihe lien 01 thiS Deed at Trus1 and all of the
<br />foregoing being referred to herOin as the "properly'.
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<br />Thj~e~d of Trust shall secure (althe payment of the pnnc~,:,1 s~m and interest eVidenced by Borrower's note andlor credit agreement dated
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<br />8 4 88 . hevlng a matun'y dBle of 5 2003 . on the original pronc'pal amount of $ 5~-,- QQ..9_~O~~._ end any and all
<br />modifications. 8xtenslons and renewals thereof or therelo and any and all future advances and readvances hereunder pursuant to one or more promls90f)l notes or credit
<br />agreements (herein called "Nole"), (b) the payment of other sums advanced by lender to protect the securily of the Note. Ic) the performance all covenants Dnd agreement
<br />01 Borrower l5etlorlh tlareln; and (d) all indebtedness and obligations 01 Borrower 10 Lender whether direct. indirect. absoluto or contmgontl1nd whother ansmg by note,
<br />guaranty. overdraft or otherwise.
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<br />Borrower, to protect the security of this Deed ot Trust, covenants and agrees with Lender as tallow!>
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<br />,. Pa,menl 01 Prlnclpalland Int.ro.l. Borrower shall promptly pay when due the prinCipal of and interest on. and nny Icos 01 chnrgo!\ provldud In. tho Note or In lhls
<br />Deed of Trust.
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<br />2. TtIIe. Borrower IS Ihe owner ofthe Property, has the rlghl and BU1horily to convey the Property. and warrants IMtthe h{>fI clontlllJ hl"ohy.s 0 flrlll and prior hen on
<br />the Property, eJl;cepl as may o.therwlso bo Gel forth herein, and the execution and delivery of this Deed 01 Trust does not vlolnto any CO/ltrllcl 0. othor obhgnllon to which
<br />Borrower is subject.
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<br />3. T....f "Ieo,ment.. To pay when due all (ues, speCial assessments and all other charges against tho Property nnd upon .....lIth.ll I1pmnnd by Lender 10 pnV to
<br />lender such amount.. may be sufficient 10 enable the lender to pay such 1axes, assessmonts or other charges as thoy bocomD dUll
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<br />.. '1"lura~. To keep (he Propeny insured against damage by lire, ,1azBrds included within the term "extended coverage'. nnd such olhm halards as lender may
<br />require, In amounls and with companies acceplable to Lender. and with loss payable to the lender In case 0110S9 under such pollclos tho Lnndm IS authOrilOd 10 adJust
<br />collect and compromise. all clalmt thereunder and shall hove theopllon or applying 011 or part of the Insurance procoeds III :0 any Indebtedness soc ,m'd hereby nnd In such
<br />order as Lender may determine. {Ill to the Borrower 10 be used for the repair or restoration of Ihe Property or 11111 lor any othor purpose ur obJDct silll!llaclory 10 Lender
<br />wllhoul o"ecUng the lien of this Deed 01 Trust tor the full amount secured hereby before such payment ever look place Any apphcallon 01 procl'eds 10 IPdcbludness sh.11I
<br />not a.lend or postpone the due dale or any payments under tho Nole, or cure any defaullthereunder or horeunder
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<br />5 Malntenlnce Rlpal,. and Compliance .lIh La.l. Borrower shall keep lhe Properly In goad condlllon imd repair 511all D,omplly It'pall III 't1plnLl' .1fl~.
<br />Improvoment which may be damBged or destroyed; shall not commit or parmi I any wasre or deterlorallon olthe Properly shall not remoyp I!emull'\" (If !H1h51,lrllmlly .111(',
<br />any at tho Improvomcntson 1he Properly; shall not commit. sufFer or permit tlnV Dclto bodonc in Of upon the PropNty In vJolnltnll "I nn'y I.,,,,, Oldll1.1!), " '" ,pll"I.11'(I" II'H1
<br />shall pay and prompllydischargeal Borrower'!COSlandexp.Jnse allllDn.. encumbrances and charges levied Imposed or .15sn5~f'(j ,1('.1111'.:11 Ihf' PrO~'("I~ Il' .1"\1 pil'l lht"f" II
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