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<br />ACKNOWLEDGEMENT OF DEED OF TRUST
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<br />88- 106023
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<br />10RROWEft. RI!AD THIS BEFORE SIGNINO:
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<br />Borrowers (Trustors) understand that lhedocumenllhallhll Borrowlll'5ore about 10 l!!I.ecull!lls II Deed 01 Trusland not a mortgagellnd lhat the power 01 sale provided
<br />lor In lhll Deed of Trusl provides substantially dlllerer.1 rlglul and obllgallonlto tho Borrowllr. thin I mQrtgJlgeln Ihe Bllllnl 01 a default or breach 01 Obligation under the
<br />Deed 01 Trust. Including, but not IImlled 10. Ihe Under. rlghlto hll\l8 me Raal Pl'Qpclrty sold by the nu.lea wlU'lout any judicia' proceeding Dr fOI1I1::IOlure. Borrowsrs
<br />represent and wlrrantlhal Ihls acknowledgement was executed by them before the t!)18cu!lon of the DlHld 01 TrUlt
<br />ELECT ONTRA T ,INC., A CORPORATION
<br />
<br />
<br />resident
<br />
<br />Personally
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<br />PREFACE TO DEED OF TRUST
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<br />COMPLETE Ihla portion ONLY II the ,..1 property described conllltl of INDIVIDUALLY OWNED AGRICULTURAL LAND.
<br />n appIlClbl.. complel. ONLY ONE either A, B. or C:
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<br />o A. DISCLAlME.q OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The Borrowerls) acknowledge that they are abouttoellecute the lollowmg Deed 01 Trusl upon the real ellale descnbed therein_ The Borrower(sl. and each 01 them it
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto No part olthe homaltead 01 ell her of the Borrowerlslls presently or will in the
<br />future be situated upon said real estate. TheBorrower(sl understand that if either establishes a homeslead on any part 01 said real estatedurlngthe timethe Deed 01 Trust
<br />remains unsatisfied and a lien upon said real estate, there shall be no righlto makea deSignation 01 homestead 10 tho event 01 a loreclosure or trustee's sale with respectto
<br />said Deed of Trust
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<br />o B. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
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<br />The BOl'fawer(s) acknowledge that they are aboutla ellecule the101l0wlng Deed 01 Trusl upon Ihe real eslate descrlbed therein The Borrower(s), and each of them it
<br />more than one. do hereby waive their righl to designate a homestead pursuantlhereta The Borrower{lIj understand Ihal they have the right 10 ma~e a designation 01
<br />homestead and that byellecuting this waiver.lhey are waIVrng rights otherWise avaIlable for tho purpot.e oll1l1Oldlng thom the opportunity to relam Ihelrhomestead in the
<br />event of a delaull upon the Deed of Trust.
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<br />o C. DESIGNATION OF HO'IIESTEAD:
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<br />Pursuant 10 Ihe Farm Homestead Protection Act ISecllon 76-190t et seq ReVised Statutes 01 the State 01 Nebra!lkal.the Borrower{sl, do hereby designate the real
<br />property described in the MDesignation of Homestead" allached hereto and lOcorporated herOin by lhls relerence
<br />
<br />Borrowor
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<br />Borrower
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<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST l~madea~0!lhe12 lJllrolOctobe[;' 198_8__ byandamOnglheTrustor.Electrical
<br />Contractors, ~_nc.J._~~__G~I:'p_oration whose malhng address IS 2BD2.......Yl__+Oln HighwP'lY :":tn.
<br />G.I. I NE 6a80~erem"Borrower"J.theTruslee Willi'!3.m G. Blackburn.L a member of the NE State Bar
<br />whosemailingaddressls--E........O.---B.0JL22BO.4Grand-ISlandJ_..Ni...::6.a.a02- _ _~~~____lherem ..tu~t~~~.
<br />and the Beneflcla')-. Fi ve ~Q.int~_~~nk
<br />whose mallmg address 15 p .O~~~_.}?97_1_ Grand Island, N_~ _~~~~~__
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<br />__~~__.__~__._(herem-Lender"l
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<br />FOR VALUABLE CONSIDERATION. Including the Indebledness Identllled herem ana trust herein Cleated, the lecelpt of WhICh IS hereby ecllnowledged, BotTower
<br />hereby Irrevocably granls.translers, conveys and ilss'gnslo Truslee, IN TRUST WITH POWER Of SALE lor tne Deneln and secunly 01 Lender. under and subject to the
<br />terms and conditIons herelOafter sellorth. the real p.oper1y descr,bed as follows
<br />
<br />The South Balf (S~) of Lot Fifteen (15), and All of Lot Sixteen (16)
<br />having a lake front footage of 70 feet, situated on the East side of
<br />the East portion of Kuester Lake and being located on a part of the
<br />East Balf of the Southwest Quarter (E\SW~) in Section Thirteen (13),
<br />Township Eleven (II) North, Range Nine (9) West of the 6th
<br />P.M., Ball County, Nebraska, as shown on a plat of said property in
<br />the possession of Kuester Lake, Inc., and known as No. 38, Kuester
<br />Lake, Grand Island, Nebraska.
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<br />Together WIth aU buildings. Improvements. 1nr;tures. streels, alleys. passageways. easements. rlghls. pnvlleges and appurtenances localed thereon or '" anywise
<br />pertaining therelo. and the rents. ISSUes and profits. reversIons and remainders thereof; including. bul nolllmlled 10 healing cnd cooling equ,pmenl and such personal
<br />property thai Is attached lolhe improvements so as 10 constitute a flxture;end together WIth the homestead or mautsl mterests. II any. whiCh ,"tarestsa,s hereby released
<br />and waived; all olwhici"l, including replacements and additIons therelo. 15 hereby declared to be a pari ot the rp.al eslate secured by the lien ollhls Deed 01 Trusl and all ollhe
<br />foregoing being referred to herein as the -property-
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<br />This Deed of Trust shall secure {ajthe payment O!lhe pllnc.pal sum and mleresl e,"denCtod by BOrlowe. S note ;mCl.or cred.t agreemenl dated _~_9-1.?~_8_8
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<br />,havlOgamalUrllydateo! 10-12-93 rntheongmalprmclpalamountolS 20,000.00 and any and all
<br />modlficalions,eldenslonsand renewals thereol or thereto and any and aU 1uture ddvances and leadvances hereunder pursuanl to one or more promissory notes or credit
<br />agreements (herein called "Note"l: lbl the paymenl 01 other sums advanced by Lender to proteclthe secuTlty oltha NOle l L) the performance all covenants and agreement
<br />of Borrower set forth herein; and (d) all lOdeblednessand obhgations 01 Borrower to Leni:ler whcltler dUDCI_ IndlleCI. absolule or conllOgent and whelheransrng by nole,
<br />guaranty. DVetdraft Dr otherwise
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<br />Borrower. to protect the secunty 01 thiS Deed 01 Trust. covenanlS and agrees With Lender as lollow,"
<br />
<br />,. Par-nlofPrind;raland In"reaL Bonower shallpromplly pay when due fhe pnnclpal of and Interest on, and any lees or charges prOVided In. Ihe Note or 10 th.s
<br />Deed 01 Trust.
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<br />2. TIUa. Borrower is the olllmer of the Property. has lhe nghl and authorlly 10 convey the Property, and warranlsthat the lien crealed hereby.s a Ilrst and pllor hen on
<br />lhe Proper1y. except as may otherwise be sellol1h he-relO. and the ellecullon and deh....ery 01 thiS Deed 01 Trusl does not Violate any conllacl or olher obllgallon to which
<br />Borrower ill 5ubjBc1
<br />
<br />3 T............,.,.... To pay when due alllalles.. speCial assessments ana allolher charges 8galOsllho Property and, upan written demand b\l Lendel.la pay 10
<br />lend~r auch amount as may be lultiClcnl to enable the Lender to pay SUCh taaes, 8sse,!.menIS or other charges as Ihey b~ome due
<br />
<br />4 1ftIurWICe. To tleept1'le Property m$ufed agamst damage by lire, hazards InCluded Within tne term "exlended coverage", and such other hazards as Lenoer may
<br />require. In amounts and with companies acceptableta Lender. and with IOS5 payablelolhe Lender In case 01 lOSS under such poliCtes, the lender IS authorlzed to adlust
<br />collect and compromISe, all claims thereunder and shallhave the opllon 01 applying all Of part olthe Insurance proceeds (1110 any mdebledness secured hereby and In SuCh
<br />order ali lender maydlltermlnl!l. (Ill to the BOrlower 10 be used for the repall 01 resloratlon 01 the Property or (Ilt) lor any olher purpose or oblect salls-faclor\llo Lender
<br />w.tt_)UtaUecflnQ lhe IIl!1n otthis Deed 01 Trusl torlhe lull amount secured hereby belore such paymenl ever look place Any apphc:allon 01 p.or('eds 10 ,"d{'lblednes~ Shall
<br />nOlextend Of pD5tpone the due date at any payments under the Note. or cure an\l d~laull thef~und~r or hereunder
<br />
<br />5 __~ ..~,. and Compliance with La... BOflower 'Shall keep lh~ Property tn good l;OndthOf' and .e-pall shall rlto",pll~ "'I"'" O' 'toplilCI' an\,
<br />.mpro..ement wh.Chmay be damaged Of destroyed snail not commll or ptIfmllan\, wa5te or de1('r.n'i1l1o" 01 It'lf' P'opp"\' shal' nol '('"'UOI' [11'"",;,.", ." ,,,l">~t.1nhall\, alll'f
<br />an,. ollhe ,mpTovem.ntl on Ihe Property 5hall nol commIt suller or perm,lanyJlclto be don,. ,n O' "DOn Ihe P'opt.,,_ ." ,."1,11,(,,, "f ,1"\ I'... . "'0,,1.111l1" .1"11
<br />anall PilVlInO pfomptly dls.c:tuIrgl! at BOlfO_Df" l;ostandraoonle aU henl.Cnt;vmb'an(:p"and rha'gps.IP~tPd ,m,..o",',,] n' ..!>!>t.,.,...tJ .IQd.....' 1n.. 1-"<"""'\ ." ""l ~,."l It't',,,of
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