|
ACKNOWLEDGEMENT OF DEED OF TRUST
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (iTrustoral understand that the document that the Borrowers are abort to execute Is a Deed of Trust and not a mortgage and that the power of sale
<br />provided for In me Dead of Trust provides sublitlantially ditforent rights and ob igalions to the Ectnowens than a mortgage in the event of a default or breach of Obligation
<br />under the Dead of Trust, including, but not limited to.. the Lender's right to have the Real Property sold by the Trustee without any Judicial procaeding or foreclosure.
<br />Borrowers ropleaant and warrant that this acknowledgement was executed by them before the execution of the (lead of Trust
<br />Borrower
<br />;.
<br />Borrower
<br />DEED OF TRUST WITfi FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, is made as of the .�.�.._ day of _1e:.t :ust.r; -'¢ -- .19 ,..rS -1 -- . by and among the Trustor. V,
<br />__-lit aRtl,3 .fC x,_ >�.- 111- 1. S. .s- 1;a11LiiliL_s&_i:L___._ ---.. whose mating address is
<br />(herein "Borrower"), the Trustee
<br />whose mating address's -___P Q -R-Q ia- ti2 t�4-- __r'iY.c:1iC�- 1= S..1..i3IiS�• t' !1b ->fl�l - - - --. .._ (herein Trustee" J, and the Beneficiary,
<br />whose mailing address is P . r.!-.. _1 f) 1 _ti,Yfli u .1 , Lia le -NE -- -------- (herein 'Lender')
<br />FOR VALUABLE CONSIDERATION. Including the indebtedness identdied herein and trust herein created. the receipt of which is hereby acknowledged. Borrower
<br />hereby irrevocably grants, transfers, conveys and assigns to Trustee, IN TRUST. WITH POWER OF SALE, for the benefit snd security of Lender. under and subject to the
<br />terms and conditions hereinafter set forth, the real property, described in Exhibit A attached hereto and Incorporated herein by this reference.
<br />Together with all buildings, improvements. fixtures, streets, alleys, passageways, easements, rights. privileges and appurtenances located thereon Or in anywise
<br />pertaining thereto. and the rents. Issues and profits, reversions and remainders thereof. Including, but not limited to hepting and cooling equipment and such personal
<br />property that is attached to the Improvements so as to constitute a fixture: and together with the nomeslead or martial interests, if any. which interests are hereby released
<br />and waived; all of which, including replacements and additions thereto, is hereby declared to bee part of the real estate secured by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the "property ". * Se(! Aft tdchi enft.
<br />This Deed of Trust shall secure ta) the payment of the pnnclpal sum and interest evidenced by Borrower's note dated
<br />having a maturity date of ._._ 1/1 :1191- __ ___ _ - -, In the original principal amount of 5 ------- and any and all modifications. extensions and
<br />renewalsihereof or thereto and anyand all future advances and readvances hereunder pursuant to one or more promissory notes (herein called 'Note"); (b) the payment of
<br />other sums advanced by Lender to protect the security of this Deed of Trust, with Interest thereon as provided m the Nicer and (c) the performance of all covenants and
<br />agreement of Borrower set forth herein.
<br />Borrower. to protect the security of this Deed of Trust, covenants aria agrees with tender as follows.
<br />1. Paymentol Principal and Interest. Borrower shall promptly pay when due thepnnclpal of and mte. est on, and any fees or charges provided in. the Note or in this
<br />Deed of Trust.
<br />2, Title. Borrower is the owner of the Property, has the right andauthonty to convey the Property, and warrants that the lien created hereby is a first and station on
<br />the Property. except as may otherwise beset lorih on Exhibit A hereto. and the execution and delivery of this Deed of Trust does not violate any contract or other obligation
<br />to which Borrower is subject.
<br />3. Taxes, Assesements. To pay when due all taxes. special assessments and all other charges against the Property and, upon written demand by Lender, to pay to
<br />Lender such amount as may be sufficient to enable the Lender to pay such taxes. assessments or other charges as they become due.
<br />4. Insurance. To keep the Properly insured against damage by tire, hazards included within the term "extended coverage ", and such other hazards as Lender may
<br />require. in amounts and with companies acceptable to Lender, and with loss payable to the Lender in case of loss under such policies, the Lender is authorized to adjust.
<br />collect and compromise. all claims thereunder and shall have the option of applying all or part of the insurance proceeds II) to any indebtedness secured hereby and in s ¢h
<br />order as Lender may determine. (it) to the Borrower to be used for the repair or restoration of the Properly or (iii) for any other purpose or object satisfactory to Lender
<br />without affecting the lien of this Deed of Trust for the full amount securea hereby before such payment ever took place. Any application of proceeds to indebtedness shall
<br />not extend or postpone the due date of any payments under the Note or cure any default thereunder or hereunder.
<br />S. Maintenance Repairs, and Compliance with Laws. Borrower snail keep the Property In good condition and repair; shall promptly repair, or replace am,
<br />improvement which may be damaged or destroyed, shall not commit or permit any waste or deterioration of the Properly. shall not remove, demolish or substantially after
<br />any of the improvements on the Property, shall not commit, suffer or permit any act to be done In or upon the Property In violation of any law, ordinance. or regulation: and
<br />shall pay and promptly discharge at Borrower's cost and expense all hens, encumbrances and charges levied. Imposed or assessed against the Property or any part thereof.
<br />6. Eminent Domain. Lender is hereby assigned all compensation. awards. damages and other payments or relief (hereinafter ' Proceeds'") in connection with
<br />condemnation or olhertaking of the Property or part thereof, Or (or conveyancem lieu of condemnation Lender shall be entitled Wits option to commence, appearin and
<br />prosecute in its own name any action or proceedings, and Shall also be entitled to make any compromise qr Settlement in connection with Such taking qr damage. In the
<br />event any portion of the Property is so taken or damaged. Lender shall have the option.. in Its sole and absolute discretion, to apply all such Proceeds. after deducting
<br />therefrom all costsand expenses incurred by it connection with such proceeas. upon any indebtedness secured hereby and in such order as Lender may determine, orto
<br />apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may determine Any application of Proceeds to
<br />indebtedness shall not extend or postpone the due date of any payments under the Note. or cure any default thereunder or hereunder
<br />7. Periormanee by Lender. In the event of Borrowers lailure to per form any of the covenents herein or make any payments required hereby, ontanyactistakenor
<br />legal proceeding commenced which materially affects Lenders interest In the Property, Lender may In Its own discretion, bill without obligation to do so. and without notice
<br />to or demand upon Borrowerand without releasing Borrower from any obligation, do any act which the Borrower has agreed but fads to do and may also do any other act it
<br />deems necessary to protect the security hereof. Borrower shall, immediately upon demand therelor by Lender, pay to Lender all costs and expenses incurred and sums
<br />expended by Lender in connection with theexercise by Lender of the foregoing rights, together with interest thereon at the rate provided m the Note, which shall beadded to
<br />the indebtedness secured hereby- Lender shall not incur any personal liability because of anything It may do or omit to On hereunder.
<br />8. Events of DelaWt. The following shall constitute an event of default under this Deed of Trust
<br />la) Failure to pay any Installment of principal or interest orally other sum secured hereby w hel JOI, ,,failure to Day when clue any other tndebfedness o!
<br />Borrower to Lender;
<br />(b) A breach of or default under any provision contained in the Note, this Deed of Trust, any document which secures the Note, and any other
<br />encumbrance upon the Property:
<br />(c) A writ of execution or attachment or any similar process shall be entered against Borrower winch shall become alien on the Property or any portion
<br />thereof or interest thereto:
<br />till There shall be filed by or against Borrower an action under any present or future federal, state or other statute. law or regulation relating to
<br />bankruptcy. insolvency or other relief fordebtors. or there shall be appointed any trustee, receiver or liquidator of Borrower w of au or any part of the Property. or
<br />the rents. issues or profits inertial. or Borrower shall make any general assignment for the benefit of c1edit0r5.
<br />lei The sale, transfer, assignment conveyance or further encumbrance of all OI any part OI O! any ante refit ir: the Properly- gilner vol "Inarily Ci,
<br />involuntarily. without the express written consent of Lender
<br />(ft if Borrower Is not an Individual, the sale, transfer, assignment, conveyance or encumbrance of more than _... _ __._. _._ percent of (if a corporahonl its
<br />issued and outstanding stock or Id a partnership, --- - - - - -- percent of partnership Interests.
<br />9 Rentedles7 Aeeeleraeon UPO" DefWAt. In the event of any Event of Default Lender may doclare ali indebtedness seared hereby to oe due no payable and the
<br />same snail thereupon become due and payable without any presentment. demand. protest or notice of any kind Thereafter Lender may
<br />(a) Demand that T rcmee exercise the POWER OF SALE. granted heist n, and Trustee shelf t hereal ter ca use B11, owersinlarost ui. the Prnon-1 Y to be su!d
<br />and too pleciaods to be disihbuted, all In the manner provided in the Nebraska Trust Deeds Act.
<br />(b) Either in person or by agent with or without bringing any act cri I" l ee011 I,, t ii:. t -1 iled he a faun :and w 111c t q3 I' >'ne
<br />adequacy of its security, enter upon and take possession of the Property, or any part Ihereof, i its own nano or in the name of the Trustee and doany acts which
<br />q deems necessary of desirable to presefYe the value, matkatabihly or rentability of rile Properly- or part thf rant or inlaresl Ihanfun increase the in eonto
<br />therefrom or protect the SecuMy hereof and, with or vinthoul taking Pos-S1111"Of pie P.tCs,iy Sun l tof eiherwisecol. ci tl1e Lena sr. rosandtrc.i to1ROra0I.
<br />tncluaing those peel due and unpaid and apply the same .use 10115 and r zpranses C 51 and colot:t >ti AtidIng MI Ornoyslees , Inlon any det- t_clren,s
<br />rroc ura't hereby all In R .<.h order na Lerida eY )e1C n ! t The et 9 and t # q I,, P. )r . ty the 11,flell 1 11" :. i a es ""I
<br />prallfa and tits app !!GatlOm tnarB0i a9 aiOraaald. tall Ol N a ea I' I I -I1 1 ! Ye ill 10IP3 lCi t H SL I � _i�
<br />dareult o' put4oant lh ouch notice OI detect ll d. tiv,th5tirnO '...7 r1n, Hin e,owl t i
<br />enta,Iaae —,orj III, TfuaikPet r Lender gtall 0e aab!iud there ->9er cvev .on,ir,r bfli- , ..,i bi .ervi
<br />eye'il of detoult I10 +d!nc, the +1()ht 1!: * n :iak 11'ie {l"..! of yaiC. i....
<br />«i ("I" e ". ar. 1 1 to 4on eJuso n 5 Deed 111 1
<br />No3'emady rSBt6r ...feiratj.ftG JI re k JN. . .
<br />+.sit shim fir « ve9Q.f !:) p sIl §, ,__1Y d re e ........
<br />F94 gnaax>rgrtsy a' roz.n: «,= sm0.4v is Fv
<br />
|