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87- 10220 4
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />11101111111101111M REM TIM BEFORE SIONINB:
<br />owns." pTrustos) understand Ihat Ihe documonl the, loo Borrowers era about to oxocute is a Deed of Trust and not a mortgage and that the power of sale
<br />r protracted for In trill Dead of Trust provides substantially different rights and obligations to the Borrowers than it mortgage in Iho avant of a default or branch of obligation
<br />I under the Dead of Trust, Including, but not limited to, the Lender's right to have the Real Propert Id by the Trustee without any judicial proceeding or foreclosure.
<br />Rrxrswers t and warrant that this acknowledgement was oxecuted by them before trope of the Dead of T;,Nr i
<br />7
<br />- -- -_ - Borrower .�
<br />Ba r
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, 13 made as of the day or t9.$-7--. by find among the Trustor, ._
<br />Gar- I pens lar whose mailfng address is Rj-,- _j,,_tpX_Z;5. Grand IS1and.NE
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<br />(td° = " "y �F. .,u e,NlttM�e 4 an.�,1...1Z..ai�Q:'.�__
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<br />*Mae on" address is ._.1 t - $-AuLQ%at-.-L' - ---i6 -8. �! i1...._.._______._-__. _.__...._____.-_------ __- -..___ Iherein "Trustee -), and the Soneficlary,
<br />FIRST N MARQUETTE, whose mailing address is P_._0-r__-B4x_3.9..a__M6RQ IETi -FINE- 68854 (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 irrevocably grants, transtara, conveys and assigns to Trustee. IN TRUST, WITH POWER OF SALE. Ior the benefit and security or lender, under and subject to the
<br />terms and conditions heraiMtter set forth. the real property. described in Exhibit A attached hereto and Incorportteo herein by this reference:
<br />Together with all buildings, improvements, fixtures, streets, alloys. passageways, easements. rights, privileges and appurtenances located thereon or an anywise
<br />pertaining thereto, and tte rents, issues and profits, reversions and remainders thereof. mcludinp but not limned to t— ting and cooling equipment and such personal
<br />property that is attached to the Improvements so as to constitute a fixture, and together with the homestead or marital interests, if any, which interosts are hereby released
<br />end waived; all of which. including replacements and additions thereto. as hereby declared to be a part of the real estate secured by the lien of this Deed of Trust and all of the
<br />loregoolig being rstaned to herein as the "property' r p -r
<br />This Deed of Trust shelf secure is) the payment of the principal sum and Interest evidenced by Borrower a note dated qr i-i 13_98 /
<br />having a maturity date of - #+a:t� !s- 192 in the original principal empunl of $ 1 fl s_.7- '_G____ and any and all modifications, extensions and
<br />refteafats thereol or thereto and any and all future advances and readvances hereunder pursuant to one or m ore promissory notes therein called "Note' "l. (b) the payment of
<br />other Sure$ advanced by Lender to protect the W.urdy of this Deed of Trust with interest thereon as provided In ma Note, and (cl 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 and agrees with Lende• our I.Hows
<br />1. Pe y1 MM of PfftwoM and In#~. Borrower shall promptly pay when (I ue the p nnc +pal of and i nterost on a no any fees or charges provided m, the Note or in this
<br />Deed of Trust.
<br />2. Tad*. Borrower is the owner of the Property, has the light and authority to con vey t he Property and warrant.,, trial the hen created hefoby is a lust and prior hen on
<br />the Property, except as may otherwise be set forth on Ex habit A hereto. end the exec upon and delivery of this Deed of T rust does not violate any contract or other obligation
<br />to which grower to subject.
<br />J. Tallest, AsesestMwq. To pay when due all taxes. special assessments and all other charges against tale 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 />a. tnNpanO/. To keep the Properly Insured against damage by fire. hazards included within the term 'extended coverage and such other hazards as Lander may
<br />reQWM. In amounts and watch companies acceptable to Lender. and with loss payable to the Lender In case of toss under such policies, this Lander Ia authorized to adjust,
<br />co!lectand compromise, all claims thereunderand shall have the option of applying all or part of the insurance proceeds It) to any indebtedness Secured hereby *no Insuch
<br />orMt as Lander may determine, iii) to the Borrower lobe used for the repair or restoration of the Property or (air) !or any other purpose or object satisfactory to Lender
<br />without afteenng the Nair of this Died of Trust for the full amount secured hereby before Such payment ever took place Any appl,caton or proceeds to indebtedness shall
<br />not axNnd or postpone the due date of any payments under the Note . or aria any default thereunder or hereunder
<br />S. UNWANN~ RePdMe and Cd1aPNaaeif wfpt Laws.. Borrower shall keep the Property in good condition and repair, shah promptly repair, or replace any
<br />omproasiment which may be damaged or destroyed, shell not commit of permit any waste or detariorafion or the Property . sheaf not remove, demotion or substantially alter
<br />any offices improvements on the Property. $half not commit, sutler or permit any act to be done in of upon the Property an violation of any taw. ordinance. or regulation: and
<br />$haN pay ofd promptly dgcharge st Borrowers cost and expense all liens, encumbrances and charges levied. imposed or assessed against the Property or any part thereof.
<br />6 gash11at Da111aM1. Lender is hereby assigned all compensation. awards. damages and other payments or relief (hereinafter "Proceeds") in connection with
<br />condemnation or other taking of the Property or part thereof. or for conveyance in lieu of condemnation Lender shall be entitled at its option to commence. appear in and
<br />prosecute in ft$ own name any action or proceedings, and shall also be entitled to make any compromise or settlement In connection with such taking or damage. In the
<br />event any portion of the Property is w taken of damaged, Lender shah have the option, in its sofe and absolute discretion, to apply all such Proceeds, alter deducting
<br />therefrom Nt costs and expenses incurred by it in connection with such proceeds, upon any indebtedness secured hereby and In such order as Lender may determine, or to
<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 />ind$bHdnass mall not external or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder.
<br />7. Paflattassom by Lenderr. lnthe event of Borrower's failure to perform any of the covenants herein or make any payments required hereby, orif any act as taken or
<br />"at proeeadingcommertced which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation todo so, and without notice
<br />to or demand upon Borrower and witnptN;$iaHirtg Borrower from any obligation, do any act which the Borrower has agreed but falls to do and may also do any other act it
<br />dooms necessary to protect the security hereof. Borrower shall. immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums
<br />expended by Lender in connection with the exercise by lender of the fofegoinre rights, together with interest thereon at the rate provided in the Note, which shall be added to
<br />Ina i secured hereby Lander Shall n01 Incur any personal liability because of anything it may do or omit to do hereunder.
<br />a. Etraels W 04fewi . The loitowing shall constitute an event of default under this Deed of Trust
<br />(a) Failure to pay any installment of principal or interest or any other sum secured hereby when due. or failure to pay when due any other indebtedness of
<br />Borrower to Lander.
<br />(b) A breach of or dofaull under any provision contained in the Note, this Deed of Trust, any document which secures the Note. and any other
<br />encumbrance upon this Property;
<br />(c) A writ of execution or attachment or any similar process shall be entered against Borrower which shall become a lien on the Property or any portion
<br />thereof or interest thereof.
<br />(d) There shelf be tiled by or against Burrower an action under any present or future federal, state or other statute, law or regulation relating to
<br />benkfapfcy. insolvency of other relief tot debtors or there shall be appointed any trustee receiver or liquidator of Borrower or of all or any part of the Property, or
<br />the rerrq, issues or profits thereof. or Borrower shall make any gonefal assignment for the benefit of creditors
<br />(ol The sal. tra+efer, as$ignment, conveyance or further encumbrance of all or any part of or any interest in the Property, either voluntarily or
<br />involuntarily, without the express written consent of Lender
<br />(f) If Borrower is not an individual, tae sale, transfer, assignment, Conveyance or encumbrance of more than __ percent of (if a corporation) its
<br />rested and rulatandmg stock or (it a partnership) - .-- - -. -.- percent of partnership interests.
<br />9, 11a111awaK AoveftmftoUpm DobldL In the event of any Event of Default Lender may declare all Indebtedness secured hereby to be due and payable and the
<br />samo atlflf become duo and payable without any presentment. demand, protest of notice of any kind Thereafter lender may
<br />(a) Demand Chet Truseaaxercrso the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrower's Interest in the Property to be sold
<br />she the proceeds to be thHribaatad. all in the manner pfotrded in the Nebraska Trust Dead$ Act.
<br />(W Edhef m poschation or by allicant, with or withovit bringing any action of proceeding, or by a receiver appointed by a court and without regard to the
<br />adect.actral tq aecwAy, entor upon and fait* possession of the Property. of any part thereof, ,nits own name or an the name of the Trustee. and do any act%which
<br />merafrtun or pfOTla; <Ther Smuttily hereof and, with car without tabu" possession of the Property. Sue for of otherwise collect the rents, issues and profits tharoco
<br />L it dilexces neccenkiffory or aNS fable to proserve the value marketability of rentability of the Property, or part thereof or interest therein increase the Income
<br />sae. past isue and urtpat ®. and apply the samo, less costs and expenses of operation and collection including attorneys' lees, upon any rndebtorfness
<br />stracct9ed less®y. 0 en torch Plow am Londof may dat*rmana. I he entering upon and faking possession of the Property, the collection of such rents, Issues and
<br />af9drhe *ti4n Ffs*f*af as eforeaasao. their not cure of waive any default or notice of default her *under oar nvalidat *any act don* an raSponse to Such
<br />GN to l rni8tica of defatan ofd, nolw+fltlanding !fe GonhmFaflca !n pd$$$tttan n} Ilea Pr UtYer'y nr the collection, r *reap) Arid application of
<br />renle. Oaf proles. Tfularie, P, Lefso *f,,nett be IfMdl*a to $$$rave every light p- trurvtl form any of the Loan Instruments Ur by law capon pticutenfe of any
<br />....
<br />event, of . rocaloching tae ng" to *aorcee Ne polaver of sate. arad
<br />10 (" an ashcan h, ticlWao$$ trine heed all Iloal at a maiftgaoto aplXmi a fwT, *iy *f t]r st- -it,('. alit enfo,ca any cf the covenants here,,'
<br />`,
<br />No Femady, fVarexn r.41`h'T *P /ae'T upon rya taa$fY;@d iSIDT rust" tTa 1, lyY) d* tY $iF51*hs$edIlibA'ar( :141$IV*all ally(ithi!r namedY he,W +rl rt, hY law I >,llbr(1nd ( \I ,Or nl+iled !` Ol o.01, oth Slitan
<br />N'4Fan"o . Sheaf be rh 8,1411"o" 115 every aaf?w rft—Tv given "—finder r ,.w pr heaeafln! ereFh rig $• ,'aw n, „ e.J+,.ty ,)r by xIA"ifor —'I "m a, hr, n a "ilpli ; :+lnri,•i Polly.
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