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ACKNOWLEDGEMENT OF DEED OF TRUST 88- -104395 IORROWUI READ THI.BEFORE SIGNING: Borrower, (Tnmtora) understand .hatthe document that the Borrowers afa aboulia execute 18 a Deed 01 TrUll and not a mortgage and that the power or sale provided for In the Deed or Trull provides substantially dlffersnt rights and obligations to the Borrowers than a mortgage In the event of a default or breach at obligation under the Deed of TrUll, including. but not lImlred to. the Lender's right to have the Real Property sold by the Trustee without any jUdicial procoeding or foreclosure. Borrowers represent.nd warrant .hllt this acknowledgement wal executed by them before the execution 0' the Deed of Trust. tt.~ ~_...~:..<') (W r V. Cumm Borrower 9/Q A A-._ # ,:... D '/-1. ~A. ~ ~""""""A'" ~ (Germaine H. 'cummirllfyower PREFACE TO DEED OF TRUST COMPLETE litis porUon ONLY II lb. ,..1 property d...r1bed conl"'l 01 INDIVIDUALLY OWNED AGRICULTURAL LAND. n 8ppllcable, campi.'. ON\. Y ONE either At 8, or C: o A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD: The Borro:wer(s) acknowledge thai they are about to execute the rollowing Deed of Trust upon the real estate described therein. The Borrower(s). and 88ch or them if more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrower(slls presentlv or willi" the future be situated upon said real estate. The Borrower(s) understand that if eithersstsblishes a homestead on any part of said real estate during the time the Deed of Trust remains unsatisfied and a lien upon said real estate. there shall be no right to make a designation of homestead In the event of a foreclosure or trustee'. sale with respect to said Deed of Trust o B_ WAIVER OF RIGHT TO DESIGNATE HOMESTEAD: 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 eac.h of them if more than one. do hereby waive their right to designate a homestead pursuant thereto. The Borrower(s) unde~stand that they have the right to make B deslgnati.on of homestead and1hat by executing this waiver. they are waiving rights otherwise available for the purpose of affording them the opportunity 10 retain the,r homestead In the event 01 a dGtllult upon the Deed at Trust. o C. DESIGNATION OF HOMESTEAD: Pursuant tathe Farm Homestead Protection Act (Sechon 76-1901 et seq. ReVIsed Statutes 01 Ihe Slale at Nebraska). the Borrower(sl. do hereby designate the real property described in the "Designation at Homestead" attached hereto and incorporated herein by this reterence. Borrower Borrower DEED OF TRUST WITH FUTURE ADVANCES PROVISION THIS DEEDOFTRUST.'s made as 0I'h.,10.tb day 01 _Au-9u...s1___ 19 ~. by and among the Trus'or.Wilbur V. Cummins & Germaine H. Cummins. husband and wifenn whosema'hngeddress's 503 8th Ave.. Holdrege. NE 68949 (here'n"Borrowe"'ltheTrustee.Wjm~m_J;;_,- j3lac~burn. a member of the NE State Bar Assn., whose mailing address is P.O. Box 2280,__GrJlJld.lslaotL_NE__.6.8802-2280 (here,n-Trustee"l. and the Benellciary. Five Points Bank_n___ whosemaillngeddressis.P.O._~..5.!l1.__Gra"d .1sland...__Nf.._ 68802-1507 Iherein "Lenden_ FOR VALUABLE CONSIOEAA TION. Including the Indebtedness ldentlfled herem and trust herem created. the receipt of which 15 hereby acknowledged. Borrower hereby irrevocably grants. transfers. conveys and assigns to Trustee. IN TRUST. WITH POWER OF SALE. lor the benef.1 and security of Lender. under and subject to the terms and conditions hereinaher set forth. the real property deSCribed as lollows Lot Eighteen (18), in Block Three (3), in Le Heights Second Subdivision, Hall County, Nebraska- Together with all buildings. improvements. tiKtures. streels. alleys, passageways, easements. raghts. prlvlleges and appurtenances located thereon or In anywise pertaining there1o. and the rents. issues and profits. reversions and remainders thereof; Including. but nol limited la, heating and cooling equipment and such personal property that isatlAched tDthe improvements soas toconstilute a fixture: arid together with the homestead or manta I ,"leresis. it any. which Interests are hereby released and waived: all otwhiCh.lOcluding replacements and additionstheretu. is hereby declared to bea part of Ihe real estate secured by the lien of thiS Deed of Trust and all 01 the foregoing being referred to herein as the "property" This Deed ot Trust shall secure (a) the payment 01 the principal sum and Interest ellldenced by Borrower's note and/or credit agreement dated August 101 1988 . heving a matu,ity date of S~pt. 1. 1991 . in the original p"ncipal amount of S 43.200.00 and any and all moditications. extensions and renewals thereof or thereto and any and all tuture adl/ances and readl/ancas hereunder pursuant to one or more promissory notes or credit agreements (herein called "Note"); (b) the payment ot other sums advanced by Lender to protect the security of the Note: (c) the performance all covenants and agreement of Sorrnwer set forth herein; and (d) all indebtedness and obligations of Borrower to Lender whelher direct. indIrect. absolute or contlOgenl and whether ariSing by note. guaranty, O\l4!Irdratt or ott'lerwl!le Borrower. to prot~ the Sl"ICUrity at this Deed of Trust. covenants and agrees with Lender as follows ,. P8ymentofPrindplllmdlnlarest. Borrowershall promptly pay when due the principal at and Interest on. and any fees or charges provided in. the Note or In thiS Deed of Trust. 2. 11IIe.80rroweris theDwner of the Properly. has the right and authority to convey the Property. and warrants that the lien created hereby isa hrst and prtor lien on the Propeny. except u may ottJerwjse be set forth herein. Bnd the execution and delivery of this Deed of Trust does nollliolale any contracl or olher obligation to which Borrowef is sutjecL 3. T....... t.. To pay when due alllaxes. special assessments and aU other charges against rhe Property and, upon wrinen demand bV Lender. 10 pay 10 Lender fUCh amount as ma)' be sufficient to enable the Lender to pay such taxes. assessments or other charges as they become due 4. ,......... To keep the Property insured against damage by tire. hazards incluaed ....ithin the term "extended coverage". and such other hazards as Lender may require. in amounts and with companies acceptable 10 Lender. and with loss payable to the Lender. In case 01 loss under such poliCIes. the Lender IS authOrized to adjust. colleclandcompromise. all claims thereunder and shall have the option 01 applying all or part 01 the Insurance proceeds (t110 any Indebtedness secured hereby and In SUCh order all Lender mBY determine. (ii) to the Borrower to be used tor the repair or restoration of the Property or (Iii) for any other purpose or object sallslactory 10 lender without affecting the lien 01 this Deed of Trust tor the rull amount secured hereby before such payment ever took place. Any applicallon of proceeds 10 Indebtedness shal: nDt extend or postpone the dUle dale of any payments under the Note. or cure any defaultlhereunder or hereunder 5. ......1MIanCe "-PaIn and Compliance willi Laws. Borrower snail keep tne Property In gOOd condition and repau. shall promptly repair. or replace any Improvement which ITIBy be dam:ged or <Sestroyed: shall not commIt or permit any waste or deterioration of the Property. shall not remove. demolish or 5ubslanhally aller Bnyot IheimprovemenlS on the Property. shall not commit suHer Of permit any Bct to be done in or upon the Property In Violation 01 any law. ordinance. 0' regulatIon and shall pay and prompUy discharge at B~rrower'scostand expense.llllen!. encumbrance&snd charges leVIed. Imposed or assessed agalnsllht!' Property or any parl1hereol