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87- 103578
<br />ACKNOWLEDGEMENT OF DEED OF TRUST
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors)understand that the document hat the Borrowers are about to execute is a Deed Of Trust and note mortgage and that the power of sale provided
<br />I., in the Dead of Trust provides substantially different rights and obligations to the borrowers than a mortgage in the event of adefault or breach of obligation under the
<br />Deed of Trust, including, but not limited to, the Lenders right to have the Real Property sold by the Trustee without any judicial proceeding or foreclosure. Borrowers
<br />represent and warrant that this acknowledgement was executed by them before the execution of the Deed of Trust.
<br />Beirowerk1jeonara E. ee )
<br />rower Lela E. Embree
<br />PREFACE TO DEED OF TRUST
<br />COMPLETE this portion ONLY little real property described consists of INDIVIDUALLY OWNED AGRICULTURAL LAND.
<br />If applicable, complete ONLY ONE either A, S. or C:
<br />❑ A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />The Borrower(tt) acknowledge that they are about to execute the following Deed of Trust upon the real estate described therein. The Borrower(s). and each of them if
<br />more than one, do hereby disclaim their right to designate homestead pursuant thereto. No part of the homestead of either of the Borrowers) is presently or will in the
<br />future be situated upon said real estate. The Borrower(s) understand that if either establishes a homestead on any part of said real estate during the time the Deed of Trust
<br />remains unsatisfied and a lien upon Said real estate, there shall be no right to make a designation of homestead':n the event of a foreclosure or trustees sale with respect to
<br />Said Deed of Trust
<br />❑ B. 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 Borrower(s), and each of them if
<br />more titan one. do hereby waive their right to designate a homestead pursuant thereto. The Borrower(s) understand that they have the right to make a designation of
<br />homestead and that by executing this waiver. they are waiving rights otherwise available for the purpose of affording them the opportunity to retain their homestead in the
<br />event of a default upon the Deed of Trust.
<br />❑ C. DESIGNATION AF HOMESTEAD:
<br />Pursuant to the Farm Homestead Protection Act (Section 76 -1901 et seq. Revised Statutes of the State of Nebraska). the Borrower(s). do hereby designate the real
<br />property described in the "Designation of Homestead" attached hereto and incorporated herein by this reference
<br />Borrower
<br />Borrower
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST. is made as of the 12tkLy of _ _ JUn2�_ 10 - 87 by and among the Truster. Leonard E.
<br />Embree and Lela E. Embree, Husband & vMd�Pn72,lingaddressis _922-S. ving, Grand Island
<br />- ------------ -- -- ------- - - -- -- --
<br />NE 68801 ___ Ihe,elh' Borrower., meTrusree - - William-G.- Blackburn, _Attorney_
<br />wndse mailing address is _P._Q_e. BOX_ 28Qt- Gra_n_d _ISIaT1C.-1 NE - -__ 68802__. (herem`Trustee').
<br />andthe Benef;c,ary. -- - Ve._.Poi-nts Bank...
<br />whosemamngaddressls P.P.- Box _l507,Grand _Island, NE _ 68802 _ tnerem "Lender ")
<br />F09 VALUABLE CONSIDERATION. including the intlebtedness �tlenhfied herein and trust herein created the receipt of which is hereby acknowledged. Borrower
<br />hereby nrevocabty grants. transfers, conveys and ass,gns to Trustee. IN TRUST, WITH POWER OF SALE. for the benefit arid security of Lender, under and subject to the
<br />(errs and -drhons hereinafter Set forth, the real propOr c-need as follows.
<br />Lots Three (3) and Four (4) in Block Forty -One (41) in the
<br />Original Town, Now City of Grand Island, Hall County, Nebraska
<br />Together with all buildings- improvements `_ es. Sheets alleys . passageways. easements. rights, pnvueges and appurtenances located thereon or in anywise
<br />pertaining thereto. and the rents, issues and profits nreversions and remainders thereof. including. but not limited 10, heating and cooling equipment and such personal
<br />property that is attached to the improvements so as to conshtute a fixture, and together with the homestead or marital interests, if any. winch interests are hereby released
<br />and waived: all of which, including replacements and additions thereto. :S her eby declared to be apart of the real estate secured by Ire hen of this Deed of Trust and all of the
<br />foregoing being referred to herein as the property -
<br />This Deed of Trust shall secure (a1 the payment of the pnncip,! m and in: _rest evidenced by Borrower's note and,or credo a Bement oaten _
<br />6 -12 -87 , having a maturity date of _. in the original principal amount of $� � ��0 .,00 and any and all
<br />modifications. extensions and renewals thereof or thereto and any and all future advances and readvances hereunder pursuant to one or more promissory notes or credit
<br />agreements (herein Called- "Note ):(b) the payment of other sums advanced by Lender to protect the security of the Note. (c) the performanceai covenantsand agreement
<br />_of Borrower set forth herein, and (0) all indebtedness and obligations of Borrower to Lender whether direct. Indirect. absolute or contingent and whether 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. Paymantof Prineipaland Interest Borrower shall promptly paywhen duethe principal of and interest on. and any fees or charges providedin. the Note or in this
<br />Deed of Trust.
<br />2, Title. Borrower is 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 forth herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which
<br />Borrower is subject
<br />3, Taxes. Assessments. 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 />Lend er 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 Property insured against damage by f ire. hazards Included within the term 'extended coverage', and such other hazards as Lender may
<br />require. in amoi:nts and with companies acceptable to Lender, and with loss payable to the Lender in case of loss under such policies. the Lender Is authorized !o adjust.
<br />coffeeN antl comprOmiss. all claims thereunder and shall have the option of applying all Or pa,t of the insurance proceeds (if to any indebtedness secured hereby and in such
<br />order as Lentler may determine. (ii) to the Borrower to be used for the repair o, restoration of the Property Or hu) for any other purpose or object satisfactory to Lender
<br />without lffecting ! :,e lien of this Deed of Trust for the full amount secured hereby before Such payment ever took place Any apphcahon of proceeds to indebtedness sh all
<br />not extend or postpone the rue date of any payments under the Note. or cure any del-It thereunder or nereunde,
<br />5. Maintenance Repairs and Compliance with Laws. Borrower shah keep the Property in good cdnddw0 and repair, shall p,ornpny .epm: e replace any
<br />Improvement which maybe damaged of destroyed: shall not commit or permit any waste ordetenoration of the Property, shah r,o! remove. demoi:sn or subsianhauy oilier
<br />any ofthe improvements on the Property, shall not commit, suffer or permit any.et to be donain or upon the Property,, violation of am law urn: ,once or reyulahun, ,inn
<br />shall pay and promptly discharge at Borrower's cost and expense an hens. encumbrances and charges levied imposed dr assessed nya:n;rin., P,op «r!v irr nny pan lr:err -.:I
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