|
ACKNOWLEDGEMENT OF DEED OF TRUST 87-101855
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that the Borrowers are about to execute is a Deed of Trustand note mortgage and that the power of sake provided
<br />for in the Deed of Trust provides substantially different rights and obligations to the Borrowers than a mortgage in the event of a default orbreach of obligation under the
<br />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.: Borrowers
<br />represent and warrant that this aGmowtedgement was executed by them before the execution of the Deed of Trust.
<br />(R hart J. Borrower
<br />Jolene Pavelka) Borrower
<br />PREFACE TO DEED OF TRUST
<br />COMPLETE Ibb portion ONLY R Wa raw prop" described wrrMab of 1lD11VIWtALLY OWNED AGRICULTURAL LAND:
<br />If applicable, cdmplNe ONLY ONE ewer A, ii, orG -
<br />❑ A- DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD: - The Borrower(s) acknowledgethatthey are aboutto execute the fottowittg Deed of Trust upar the reatestate described therein. The Borrowerts)_ and eachafthem d
<br />more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrowers) is presently or wdl ontihe
<br />future be situated upon said real estate. ThetBorrower(s) understand that it either establishesa homestead many pan of Said real estateduringthstimethe Dead ofTisad-
<br />remains unsatisfied and a lien upon said real estate, there shall be no right to make a deslgnationof how in theevrnttofaforeclosure ortrustee's side with reamer:. to
<br />said Deed of Trust - - - - - -
<br />❑ 13. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />The Borrower(s) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein- The Borrolrer(s),a ndeach otthian d
<br />more man one, do hereby waive their right to designate a homestead pursuant thereto. The So moseris) understand! bad they have the right to make a I -goon of -
<br />homestead and thatbirexexutingthiswaiver.they are waiving rights otherweseavaft ble for thegurposeofaffording them the opportunity to resin#*ir homestead bathe
<br />- event of a default upon the Deed of Trust
<br />❑ C. DESIGNATION OF HOMESTEAD'- - -
<br />Pursuant to the Farm Homestead Protection Act (Section 76 -1901 el seq. Revised Statutes of the Sudeof Nebraska). the Borrower(s), do hereby designate the real
<br />property described in the - Designation of Homestead- attached hereto and incorporated herein, by the rdertance- - -
<br />DEED OF TRUST WffH FUTURE ADVANCES PROViSION Robert .s, .
<br />THIS DEED OF TRUST..s made as of the 1st_ day at _..AWiL_ _.. _.. _t9. _ . Lq arazt amoilg ?ire Tu
<br />istor. J. - Pavelka
<br />and folene Pavelka_ h ti: and_and_tife__- -- -_ wnosowae-gaodr is -4 O7-Driftwood Grand [stand_
<br />Nebraska 58801 therein ""Borrower ). the Trustee Five _ PointrP_,_Bank Grand Island. NAbraska
<br />w,dsemahrtgaddressis _P.O, BOX 1507F_Crand Island. NE_,688ff2
<br />Y etidtheBeneflciary. _Five Points Bank _Grand _Island,
<br />whosefnaihngaddressis .P__Q >..._BflX_ "1517.aI1Lj ZStOIId :r. _ "._ _. I e
<br />FOR
<br />VALUABLE CONSIDERATION, inclu ding themdebtedoess identified Niorei.n and bust herein created_ the receipt of which is hereby aacnc fexgwd somboser-
<br />hereby irrevocably grants. Transfers. conveys and assigns to Trustee. INTRUST V hTH POWER OF SALE for the benefit and secvrrty of Lender" u,nderarrd subfytt To the
<br />Mims and conditions hereinafter set forth. the real property. deSonbed a5 foaOws -
<br />Lot Forty Five (45), Westwood Park Subdivision, in the City of Grand Island, Halt County,
<br />Nebraska.
<br />Together with an buildings improvements fixtures, streets alteys. passageways_ easements, rights . pnxt and appurtenances lotafE_ tnereda Or in an
<br />pertaining thereto, and the rents. issues and profits . reversions and remainders thereof. rnclud a To, ag and c arT ywese
<br />,rig, but hat limited to. r:ear:ng wile edd¢ng eginpmerit an- sucfl personal
<br />property that is attached tot" improvements so as to constitute a fixture- and together with me homestead or marital interests_ if any, whrch interests are hereby released
<br />"waived. all of which. including replacements and additions thereto, is hereby declared to be a part of the reel estate sece:red by the r,en b'thrs Deed of Trustand allot She
<br />foregoing being referred to hereto as the ' "property
<br />This Deed of Trust shalt secure (a! the payment of the principal sum and mterest evidenced by Borrower s hone and or credit agreemet Dated AprII I .
<br />19517 _ __ having a maturity date of Apr11_ 1 __ 200±2 m the original principal amounI of 5 41 1 (100. 00 antl any aril all
<br />modifications extensions and renewals thereof or thereto and arty and all future advances and readvances hereuncder pursuant to One or more promissory noiesorcm -im
<br />agreements (herein tatted 'Note'), to) the payment of other sums advanced by Lender to protect the security of the Note. (cl /he pertoomanceah covenamsand agreement
<br />-
<br />018orrower set fonh herein. and td) all indebtedness and Obligations of Borrower t0 Lender whether d,,ect- rodirect, absolute or contingent and whe"W arising by note
<br />guaranty, overdraft or otherwise.
<br />Borrower. to protect the security of this Deed of Trust, covenants and agrees with Lender as follows- -
<br />t hymewtot PgnefpMA"inMr"L Borrower shall promptly pay when due the principal of andinterestem. and any teesor charges pr nIodm. the Noteor•ri Thl4
<br />Deed of Trust
<br />-
<br />2 Tiga. Borrower isineownet of the Property, has the right and authority to convey the Property. and warrants that the Iran created hereby isa first and pnorlwnon
<br />the Property, except as may otherwise beset forth herein - and the execution and delivery of this Deed of Trust does not violate any contractor other obligation to which
<br />- aorrower m subject
<br />- 3, Taaea, A/tMHMnaftta. 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 soon amount as may be sufficient to enable the Lender to pay such taxes . assessments or other charges as they become due
<br />M _ 4 lnsuds cif. To creep the Properly insured against damage by life, hazards included within the term mended coyerage- and such Other hazards as lender may
<br />A. require in amounts and with companies acceptable to Lender, and wan loss payable to The Lender m case of ions under such policies, the Lender is authorized to adiust
<br />ii' Collect and compromise *! Ici• ris thereunder and shall have the option of applymq all of part of the insurance proceeds '±) to any indebtedness secured he,ebyand in r:
<br />- rot Ordef as Lender may defe —rte, tit l to the Borrower to lye used for the span or restoration of the Property at i ,,t ter any other purpose or object saLsfactory to Lender
<br />=i} - wimout atfactirtg The Iran of This Dee[t of Trust for the Iuif amount secured hereby L ,fore such payment ever took place Any application of pr ,,,eJs ti5 :nychtadne35 shah
<br />Mot extend rot postpone Trio due dolt, PI any payments udder Ihi_ Note nr ow. any default thereunder or hateurAlP+
<br />5 WMMrunu Repsir% and Compliance with I"%. B ow
<br />orrer shaio keep the Property ,r, good cornditien and rope Nat,t-rrt,n pti {.a - et la writ
<br />old errant whli:h may be damaged nr dastrrred shah note ,md or pri—I any I. ot the pr.,pw t sun)
<br />4nyallnaiml Ovgrhani59n the PiotWriv ahahr+nicprnma sutler nr ixrmu anyxci rn nn dr .r ni .,f,rs ir,_n.oprrf.. -v „inf r.r a.; -o->t . ae _ .y, ^n ,,i, ,a•� -f
<br />shaf+pAV andprnre- pilyd++r:hb•gaa!19PirOwyi S+:+tst stud e!itinlrSe all r,nr,g encumnran, esa vl:nni.l:.v y, ., r�t..xe., sV,c55n.. r.. rt - rl`+i -. -+ i i re, ,, ..
<br />
|