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ACKNOWLEDGEMENT OF DEED OF TRUST 87,-102202 SQINIa *"$ MEAD TINS "PONE S1p imcL Sonowers gTrustorsl understand that the document that IM BorfOwas era about to Execute fs a Deed of Trust and not a mortgage and that the power of sate provided twin the Dead of Trust provides substantially different rights and obligations to the Borrowers then a mortgage in the event of a default or breach of obligation under the Deed of Trust, including, but not limited to, the Lender's tight to have the Real Property sold by the Trustee without any judicial proceeding or foreclosure. Borrowers relpnteenl and warrant that this acknowledgement was executed by them before the a oft of Trust. —Borrower / orrowa DEED OF TRUST WITH FUTURE ADVANCES PROVISION THIS DEED OF TRUST, is made as of the 24th day of _ , 19 87 , by and among the Trustor..� Ronald C. Krauss and Vada M. Krauss ____whose whose mailing address Is Box 168, Doniohan, NE 68832 (hewn .Borr,wer), the Tr,.e, —Le land B. Jones whop rst)ng address is 1218 L St. , AUroTa -�_NE 68818 _ (herein "Trustee "), and the Beneficiary, - -- FIRST NATIONAL BANK OF MAR UETT,Fvhoaemailingaddressis _6gx --- 99,_ MargUette. Ne 68854. _ (herein "Lender"). FOR VALUABLE CONSIDERATION, Including the Indebtedness identified herein and trust herein created, the receipt of which is hereby acknowledged, Borrower hereby irrevocably grants, transfers. convoys and assigns to Trustee. IN TRUST, WITH POWER OF SALE. for the benefit and security of Lender, underand subject to the tOrnrs and eortditiora tsmnafter set forth. the real property, described In Exhibit A attached hereto and incorporated herein by this reference: Tog~ with all buildings. improvements. fixtures, streets. alleys, passageways. easements, rights, privileges and appurtenances located thereon or in anywise pertaining thereto, and the rents, issues and profits, reversions and remamdere thereof. including. but not limited to heating and cooling equipment and such personal property that fs attecred to the improvements so as reconstitutes fixture: and together with the homestead or marital interests, if any. which interests are hereby released and waived; NI of which, including replacements and additions thereto, Is hereby declared to be a part of the real estato secured by the lien of this Deed of Trust and all of the foregoing being referred to heroin as the - property ". This Deed of Trust sell secure (a) the payment .f the principal sum and interest evidenced by Borrower's note dated _ March 94 r 1987 having a maturity date Ot MaTCh 24 s 200.7_ , in the original principal amount of S - _'_' :ri.'>I )`' � ^? and any and all modfflcatidns, extensions and rettewa 11hWWeWMorthereto "any and all future advances and readvances hereunder pursuant to one or more promissory notes (herein called "Note"): (b) the payment of Oder sums edvaneed by Lender to protect the security of this Deed of Trust, with Interest thereon as provided in the Note: and (c) the performance of all covenants and agreement of Borrower set forth herein Borrower. t0 protect Its security of this Dead of Trust, covenants and agrees with Lender as follows. 1. Isaffirmakeltoll Prloelpeland lnhresit. Borrower shall promptly pay when dun the principal Oland interest on, and any fees or charges provided in, the Note or in this Deed of Trust. 2. Tire. Borrower is the owner of the Property. has the right and authority to convey the Properly. and warrants that the Gen created hereby is a first and prior lien on the Property. except as may otherwise be set forth on Exhibit A hereto, and I he execution and delivery of this Deed of Trust does not violate any contractor other obligation to which Borrower is subject. 3. Tape, Aeeeealaenq. To pay when due all taxes. special assessments and all other charges against the Property and. upon written demand by Lender, to pay to Lander such amount as may be sufficient to enable the Lender to pay such taxes, assessments or other charges as they become due. t, 1 ex, rise. To keep the Property insured against damage by fire, hazards Included within the term' extended coverage ", and such other hazards as Lender may rapWre. 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, coflacl and compromise. as claims thereunder and shall have the option of applying all or part of the insurance proceeds (I I to any Indebtedness secured hereby and in such order p Lender may determine, (if) to the Borrower to be used for the repair or restoration of the Property or (fit) for any other purpose or object satisfactory to Lender without affecting the Gan of this Dead of Trust for the full amount secured hereby betore such payment ever took place Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Noe, or cure any delault thereunder or hereunder S. Yalalerraaee kopeks and Cot kfalle se with Lao. Borrower shah keep the Property in good condition and repair: shelf promptly repair, or replace any improwmMt which may be damaged or destroyed: shall not commit or permit any waste or deterioration of the Property, shall not remove, demolish or substantially alter any of the Improvements on the Property; shalt not comma. suffer or permit any act to be done in or upon the Property in violation of any law. ordinance, or regulation: and shad pay and promptly dscharge at Borrower's cost and expense all liens. encumbrances and charges levied. impotad or assessed against the Property or any part ihefaol. 6. Brine eM Lteassln. Lender is hereby assigned all compensation, awards. damages and other payments or relief (hereinafter "Proceeds') in connection with condamestion or other taking of the Property or part thereof, or for conveyance in lieu of condemnation Lender shall b0 entitled at its option to commence, appear in and proseeuo in to own name any action or proceedings, and shah also be entitled to make any compromise or settlement in connection with such taking or damage. In the avenI 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 therefrom sit costs "Expenses incurred by it In connection with such proceeds. upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds. after such deductions. to the resiorafloO of the Property upon such conditions as Lender may determine. Any application of Proceeds to t shelf not extend or postpone tad due date of any payments under the Note, or cure any default thereunder or hereunder. 7. PErfMExxMS by Lender. In the event of Borrowers failure to perform any of the covenants herein or make any payments required hereby, or if any act is taken or lagN proceselmo commenced which materially affects lender's interest In the Property. Lender may in its own discretion, but without obligation to do so, and without notice to or demand upon Borrower and without releasing Borrower from any obligation, do any act which the Borrower has agreed but fails to do and may also do any other act it deems ttiscessary to project the security hereof. Borrower shall, Immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights. together with Interest thereon at the rate provided in the Note. which shall be added to the Indebtedness secured hereby. Lender shelf not incur any personal tiabihty because of anything it may do or omit to do hereunder. S. Eveinss a) Daladt. The following stall constitute an event of default under this Deed of Trust. (a) Failure lopey any installment of principal or interest or any other sum secured hereby when due, or failure to pay when due any other indebtedness Of Borrower to Lender: (b) A breach of or delault under any provision Contained in the Note. this Deed of Trust, any document which secures the Note. and any other acurn tence upon the Property. (c) A writ of execution of attachment or any similar process shall be entered against Borrower which Shan become a hen on the Property or any portion "Woof or Interest theraim. (d) There shall to tiled by or against Borrower an action under any present or future federal state or other Statute, low or regulation relating to bankruptcy. insolvency of other relief for debtors or there shall be appointed any trustee, receiver or liquidator of Borrower of of all or any part of the Property, or this rots, taeWa or profits thereon. or Borrower snail make any general assignment for the benefit of creditors. (e) The asks, transfer. assignment. conveyance or further encumbrance of all or any part of or any interest In the Properly, either voluntarily or myoluntarily, without the Express written consent of Lender. (f) It Borrower is not on individual. the sate, transfer, assignment, conveyance or encumbrance of more than ____. _--percent of (its corporation) Its mind amt outstanding stock of fit a tla nership) __.. percent of partnership Interests. 9. AeareAM: Aeplom*m Upon Dafoult. tot" event of any Event of Default Lender may declare all indebtedness secured hereby to to due and payable and the mama Ming p1etlHipon EeCOlrie due and payable .,wool any presentment, demand, protest or notice of any kind Thereafter Lender may (a) Demand mat Trustee exercise the POWER OF SALE granted herein. end T rustee shall thereafter cause Borrowers interest in the Properly to be sold ate tie proceeds to be d obributild. all in me manner provided in the Nebraska Trust Deeds Act. (b) Einar, in person of by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the yofnatecurny. enter upon and take possession of thePrope, ty. oranypartthereof. initsownnameorinthenameoftheTrust "@anddoanyactswhich it or ~010 to preserve the value, rllarkelabnity or rentability of the Property on part thereof or Interest therein increase the mcorne parefrprn W protect tie Security "woof arid, *,to or without tokuig possession of the Property. sue to, or otherwise collect the rents, issues and profits thereof, iniaNdang fades poor due and unpad. and apply the fame. toss coats and expenses of operation and colloo lion inc lud too attorneys rasa, upon any indebtedness Mauled Inervilly. en in Such otdw a Lando, may determine The entering upon and taking possession of the Property. the coiiaction of such rants, issues and std pje afonthlrooleselerese+ d.. shall not cure.,waivo any defsuit or notice of default hereunder or invaunat" any acn done in response to such Sit puraltorill to m Kin nafce of (Woolf and. not- thatard,ng Ina coohhuance In possession or the Property o, the collae'.ho ,, re ='.,tit and application nt lane, issues w wants. TI of Lender then be ",,tilled 10 exercise every light provided form any ()r the I. Can l hl' law .0.n J(( wen," of any OW04 of . 'nc This rust to exarc me the power at sate. and tr-.f ( - AI o action to f.feckurs this Deed of Trust as a mortgage . appo+ni a "o, a any of Ilia — voriant. tier ei`f f HFtiialfy fyaifn Lr}nieflad f>•p4in 0, low, red IN TreatPeo,Lond"ris"'ten>d "In tsaexe.ualMe( +t.,v'Ahet "I permnts, bin each tea e . a "l661 he RE tbt*ai frs every nfh"r ,eddy giran hareand", o, now o, harealle, a e,S1 n4 af'.aw u, atl - ^'1Y •. : v &lam „in 01111 ",n, nit —.1, :1.0 cu„c..,ieelty - eaaowanestrwsy R