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7- 100802 <br />I .Frerichs and Richard A. Frerichs <br />Weinafter designated Trustors. <br />Occidental Nebraska Federal Q s Bank hereinafter referred t as Beneficiar does b this Disclos re state <br />ng o y, y u <br />that the form of security agreement securing payment of a Promissory Note to be executed by Trustors is a Trust Deed <br />which incorporates the provisions of the Nebraska Trust Deed Act. Said Deed of Trust covers the following described <br />property: <br />lot Four (4) and the Westerly Fifty -six feet (56') of rDt Three (3), all in Block <br />Seventeen (17), in Kernohan and Decker's Addition to the City of Grand Island, Hall <br />County, Nebraska <br />Beneficiary discloses to Trustor that said Trust Deed is not a Mortgage, and, further, that the Trust Deed provides <br />a power of sale in the Trustee, which power of sale is exercisable under the provisions of the Nebraska Trust Deed Act <br />without the approval of any Court. The Trust Deed provides substantially different rights and obligations to the Trustor <br />than a Mortgage in the event of a default or breach of obligation by the Trustor. <br />If the Trustee exercises the power of sale upon the occurrence of Trustor's default without cure, the Trustor has <br />no right to prevent a sale if the time granted by the Trust Deed to cure a default has expired. <br />DATED -January 14. 1987 OCC19E l N�BR S <br />�INGS BANK <br />By c <br />Vice President <br />We, the undersigned, have applied to Occidental Nebraska for a loan. The loan will be evider c* by a Promis- <br />sory Note, the payment of which is to be secured by a Deed of Trust. We have read the -above Bisctosade presented to <br />us by Occidental Nebraska. We acknowledge and understand that the document we are executing is a Trust Deed and <br />not a Mortgage, and that the power of sale provided for in the Trust Deed provides substantially different rights and <br />obligations to Trustors than a Mortgage in the event of a default or breach of obligation. <br />We, the Trustors, acknowledge that this Disclosure was made prior to the execution of the Dead of Trust. <br />DATED January 14, 1987 <br />? TRUSTCR <br />He17ry Vr�ri.chs <br />*RUSroGv <br />Richard A. Frerichs <br />STATE OF NEBRASKA ) <br />ss. <br />COUNTY OF rANCx1S I F i2 > <br />The foregoing instrument was acknowledged before me this _14th <br />____day of <br />by __ Helen _Frerichs and Richard A Frerichs <br />e.r ichs <br />Trustors. <br />N d NCI` <br />ANAL Z' <br />�, . JNX o .� <br />.will` F. 1"7 <br />