ACKNOWLEDGEMENT OF DEED OF TRUST 87— 101469
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Sorrowers ((Trustors) understand that the document that the Borrowers are about to execute is a Deed of Trust and not a mortgage and that the power of sate
<br />provided for in the Deed of Trust provides substantially different rights and obligations to the Borrowers than a mortgage in the event of a default or breach of obligation
<br />under the Deed of Trust, including, but not limited to, the Lender's right to have the Real Property sold by the Trustee without any judicial proceeding or foreclosure.
<br />Borrowers represent and warrant that this acknowledgement was executed by them before the execution of the Deed of Trust.
<br />Borrower
<br />i1
<br />Borrower
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />Euq_ene P. Buettner &
<br />THIS DEED OF TRUST-. is matte ias olthe 2_ day of February , 19E1— . by and among the Trustor. Ruth J. Buettner,
<br />A sban & c,. -, 1824 E. 7th, Grand Island, NE
<br />C >n is okn igh*��s ear „moot of tjyP other wnOee maillrg address
<br />(heran "Borrower"), the Trustee. ` William G. Blackburn
<br />P.O. Box 2280 Grand Island, NE 68802 (herein mailing address is ( ). and the Beneficiary.
<br />FIVE POINTS BANK ,whounnfulingaddressis P.O. Box 1507 Grand Island, NE (herein °Lender'),
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and trust herein created, the receipt of which is hereby acknowledged. Borrower
<br />hereby urevocawy grants. transfers, conveys and assigns to Trustee. IN TRUST, WITH POWER OF SALE, for the benefit and security of Lender, under and subjectto 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, rncldmg. but nor limited to hevfing and cooling equipment and such personal
<br />property that is attached to the improvements so as to constitute a fixture, and together with fie homestead or manRi interests, d any, which interests are hereby released
<br />and waived. all of which. including replacements and additions thereto. is hereby declared to be a part of the ral estate secured by the lien of this Deed otTrustand all blithe
<br />foregoing being referred to herein as the "properly
<br />This Deed of Trust shall secure la) the payment of the principal sum and interest evidenced by Borrower's note dated 2125187
<br />having a maturity date of 2/25/92 . in the original Drincipel amount of 000, 00 and any and all modifications. extensions and
<br />renewals thereof or thereto and any and all future advances and readvances hereunder pursuant to one o more promissory notes lherem 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 in the Note: and (c) the performance of ail covenants and
<br />agreement Of Borrower set forth herein
<br />Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows.-
<br />1. Payment of Principal and Interest. Borrower shall promptly pay when due the pinnc,oat of and interest on and any fees or charges provided in. the Note or in this
<br />Deed of Trust.
<br />Z. Tine. Borrowers the owner of the Property, has the right and authority to convey the Property. and warrants that the lien created hereby is a first and prior lien on
<br />the Property, except as may otherwise beset lorth on Exhibit A hereto, and the execution and delivery of this Deed of Trust does not violate any contract Mother obligation
<br />to which Borrower is subject
<br />3. Taus, Assewmwnts. To pay when due an 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 atfnfor charges as they become due.
<br />a. leutawnes. To keep the Property insured against damage try tire, hazards included within the term - extended coverage", and such other hazards as Lander ray
<br />raglans, in amounts and with companies acceptable to Lender, and with loss payable to the Lender. in case of tm under such policies, the Lender is authonzed to adjust
<br />collect and compromise. all claims thereunder and shall have the option of applying all or part of r a insurance proceeds (i) to any indebtedness secured hereby and in such -
<br />order as Lender may determine, (n) to the Borrower to be used for the repair or restoration of She Property or (tit) for any other purpose or object satisfactory to leader
<br />without affecting the lien of this Deed of Trust for the full amount secured hereby before Such payment ever took place. Any application of proceeds to aKhR ladlewsh ill
<br />not extend or postpone the due date of any payments under the Note. or cure any default thereunder or hereunder -
<br />5. Matnarlailee Repairs and Compliance with Laws_ Borrower shall keep the Property it, good condition and repair; shall promptly repair, or replace any
<br />ferprovernent which may be damaged or destroyed, shall not commit or permit any waste M deterioration of the Property shall not remove, demolish or subsuirdadly alter
<br />s" of the improvements on the Property. shall not commit. Sutter or permit any act to beooe in or upon the Property i— otahon of any taw, ordinance, or regnde3at_an d
<br />shag pay arfd promptly discharge at Borrower "s cost and expense all Items, encumbrances and charges jellied. imposed or assessed against the Property Of any Part tthered.
<br />b. Emhieat Domain. Lender is hereby assigned all compensation. awards- damages alit other Payments M retie! (harainaher "Proceeds'? nth conrectio n wefe
<br />condemnation or otheitaking of the Property Or part thereof, or for conveyance in Lau of condemnation Lender shalt be entitled at its option to comntionce, appear in and
<br />preascuts in its Own name any action or proceedings. and shall atsa be entitled to make any compromise or, settienKnt in confection with such taking or damage, In the
<br />event any portion of the Property is so taken or damaged. Lender shall have the optft.,, m its safe and absolute discretion, to apply all such Proceeds, after d fiducfirW _
<br />thandrom all cuts and expenses incurred by it in connection wnti n s"n proceeds. upon any indebtedness sacV 2d hereby anid in such order as Lender may determuhe. "to
<br />apply aft such Proceeds. after such deductions, to the restoration of the Properly upon such conddions as Lender may del ermine. Any application of Proceeds t0
<br />ehdebtmWom shall not extend or postpone the due date of any payments under, the Note. Or cure any default thereunder M hereunder
<br />7. Psrhxme nce by Lender. In the event of Borrowers favure to perform any of me covenants herein or make any payments required hereby. or deny act is taken"
<br />taSal prOGeadi. y cc ;t,- her.,, w'.:ach mAtenatly at}$cts Lender 5 :nteres +.:nine Property. (render r!ay;n ;rte dwrt discreton. tun wtiftout oL+tigatton to ddso. attdteithour -rode
<br />to. demand upon BottOwer and without releasing Borrower from any obligation. do any act which me Borrower has agreed but falls toad and may asodo any 00m act a
<br />dawn necessary to protect the security hereof. Borrower shall. f mfrediately upon demand therefor by Lender. pay to Lender all costs and exper ses incurred and sums
<br />sapmrded by Lender in connection with the exercise by Lender of the foregoing rights, together anm interest thereon atthe fete provided in the NOR, which shalrbe added to
<br />the indebodnese secured hereby Lender shad not incur any persona: kadday d€Lause Of 8ny -lung R may do ar, Oren to 00 iereunder.
<br />& Events of DolaWL The following snail constitute an event of defauh ur,Oer m,s Deed of Trust
<br />jai Failure to pay anyrnstalfinent of principal orrnteresr or any other sum secured hereby whendue. ofadureto pay wnendue any Other rrdebtedressOf
<br />Borrower to Lender,
<br />(b) A breach of or detauit under any provision contained m me Note. this Deed of TrusL any document which secures the Note. and any eyLher
<br />encumbrance upon the Property
<br />(c) AwrdotexeCUtiortor attiscrmant or any simi41 processshatl beer+tered asinst Sorrowerwnrch shall becomea iierfontme Property otanyportion
<br />thereof or jneneet therein.
<br />ICI T'iere shalt be fried by or against Borrower an action under try i ;rase ^'.t of future feder'ai State or omen statute- taw or reg.fat,.n raising to
<br />bankrupicY rn so „,n,y0—Irterreheffordebtors..r :here Stealrte— DO +nte.anyll -1 a reCe•vEror trqu!carof of Borrower or of ail or any part c the Property. or
<br />thf +ants, essuea p+ profits that —!. or Bo—ir, shat' make any general assignmmenl for die benefit of creditors.
<br />(e) The sate, transfer, assignment. conveyance or further encumbrance of all Or any part of Or any interest in the Property, either vOluntanify, Or
<br />involuntarily. without the express written consent of Lender
<br />fit It Borrower its not an individual_ the sate, transfer - aSSighm@ni conveyance dr encumDran ce of more than percem of tit a corporelton7 its
<br />seined and outstanding stock or (d a partnership} percemt of Partnernnlp Interests
<br />4 Ramadim AepiaraBwl Upon Delwll. In the event of any Event of Default Lender may declare all indebtedness secured hereby lobe due and payable and the
<br />Tarn sank thereupon become due end payable without any presentment, demand. or~ or notice of any kind Thereatter Lender may
<br />la) Demandtihal Trust” exercise the POWER OF SALE gmntW herein, and Trustee shall thereafter cause Borrowers interest in the Property to be sold
<br />and the proceeds to be distributed, all in the manner provioed in the Nebraska Trust Deeds Act.
<br />(b) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the
<br />L adequacy of its security. enter upon and take possession of the Properly, or any part fhereor m its Own name arm the name of the Trustee, and do any acts which
<br />it deems necessary o dear able to preserve the value, marketabit+ny or rentability of She Property or part thereof or r.terest therein. increase to Income
<br />tMreprom or protect the security, hereof and, with or without taking possession of the Property . sue for or otherwise collect the fants.:saues and profits thher sof
<br />including those past due and unpaid, and apply the cams, Was costs and expenses of operation and collection including attorneys' fees. upon any indebtedness
<br />secured hereby, all in such order as Lender may determine The entering upon and taking possession of the Property, the collection of such rents. :sasses snip
<br />prof is and the opplmation thereof as afaTe/aaid, shelf not cursor Marva any default or notice of diii hereunder or invalidate any act dada in response to such
<br />o4suh of pursuant to such nonce of default and, notwithstanding the continuance in possession of the Propenv or the collection, receipt and application of
<br />rents.'"'Anx or pr Ofds, Truolea or Lander shall be entitled to exercise every right provded !.r an any of Ins Loan Imstruments or by taw upon ocrurence of an,
<br />"ant of default including the right to exercise the power of sale, and
<br />tr,f Gommenno an action to foneclosa this Deed o Trust as a mortgage . aVi.—I a race +wf or specifically enforce any Of the covenants hero.+
<br />Oda ha~y nareen coniarred upon .r eYaeryed to Trustee or Lender to intended to be exclusive of any other remedy herein in, by law pro «ided or p—itted bul each seal" be
<br />GumuWM snarl tr ire ■ndrron tc every other remMy drvsn hereunder ui new of naiesiter e,gnng at law of •n eui,•ty of ny ateh:te and may na akerosetl cnrcwrenth
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