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87- /04363 ACKNOWLEDGEMENT OF DEED OF TRUST SOMROVMM READ TINY SSFORE SIGNING: Borrowers (Trustors) understand that the document that the Borrowers are about to execute is if Dead of Trust and rat a mortgage and that the Power Of aako provided for In she Dead of Trust provides substantially different rights and obligations to the Borrowers then a mortgage in the event of is default or broach of obligation 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 fdfaclOsufe. Borrowers represent and warrant that this acknowledgement wan executed by them before the a Ilon Of Iho Dead of Trust. Bdrrowor A. Billington �K �cC Douro Jdpa,g B1 lington PREFACE TO DEED OF TRUST COWLETE We porflon ONLY If lea real property described consists of INDIVIDUALLY OWNED AGRICULTURAL LAND. If applkabN, complete ONLY ONE either A, S, or C: ❑ A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD: The Borrowers) 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 more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrowri is presently or will in the future be situated upon said real estate. The Borrowers) understand that if either establishes a homestead on any part of said real estate during the time the Deed of Trust remains unsatisfied and a lien upon said real estate, there shall be no right to make a designation of homestead in the event of a foreclosure or trustee's sale with respect to said Deed of Trust ❑ 8. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD: 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 more than 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 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 event of a default upon the Deed of Trust. ❑ C. DESIGNATION OF HOMESTEAD: Pursuant to the Farm Homestead Protection Act (Section 76 -1901 at seq. Revised Statutes of the State of Nebraska), the Borrower(s), do hereby designate the real property described in the "Designation of Homestead" attached hereto and Incorporated herein by this reference. Borrower Borrower DEED OF TRUST WITH FUTURE ADVANCES PROVISION THIS DEED OF TRUST, is made as of the _ 22 day of _..._J41Y -_ -_ __ . 19 8!_ by and among the TrustofWKCLe D. BZ LlhlgtM and Lois Blllington, husband and wife whose m,,,,"g addres 19 - _4220 Nordic Road, Grand Island, Nebraska First National Bank Trust Co of Kearney 688ul _ (herein Borro the Trustee - P.O. Box S78, NGearney, _ -- whose mailing address is— __.___ ______. .__.____. -__. ___ ___ —___ -- _(herein "Trustee'l. and the Beneficiary. _ First National_ Bank and Trust Co. of Kearney -- - P.O. Box 578, Kearney, NE ISM whose mailing address Is _ (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. conveys and assigns to Trustee. INTRUST WITH POWER OF SALE. for the benefit and security of Lender, under and subject to the terms and conditions hereinafter set forth, the real property, described as follows Lot (4) Le heights Third Subdivision of part of the Northwest Quarter (Eh NA-) of Section Eleven (11) Township Eleven (11) North, Lange Ten (10) West of the 6th P.M., Hall County, Nebraska. Together 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 remainders thereof: including, but not limited to, heating and cooling equipment and such personal property that is attached to the Improvements so as to constitute a fixture: and together with the homestead or marital interests, if any, which interests are hereby released and waived: all of which, including replacements and additions thereto. Is hereby declared to be a part of the real estate secured by the lien or this Deed of Trust and all of the foregoing being referred 10 herein as the "property" 7 -22 -87 This Deed of Trust shall secure (a) the payment of the p nc I 3916 interest evidenced by Borrower's note and/or credit AgrtMntdWed ------ _- _.__... _ . having a maturity date of �_�__�� __.___ in the original principal amount of $ _ Lii_33_UU_VV_ll!!__1111.VV - -___ and any and all modifications, extensions and renewals thereof of thereto and any and ail future advances and readvances hereunder pursuant to one or more promissory notes or credit agreements (herein called " Nolti (b) the payment of other sums advanced by Lender to protect the security of the Note. (c I the performance all covenants and agreement of Borrower set forth herein: and (d) all indebtedness and obligations of Borrower to Lender whether direct, indirect, absolute or contingent and whether arising by note. guaranty, overdraft or otherwise. Borrower, to protect the security of this Deed of Trust, covenants and agrees with Lender as follows 1, ► aymenlefPdoe" pWMternalBorrowershallpromptlypaywhenduetheprincipalofandintereston, andanyle esorchargesprov idedin.theNoteorinthis Wed of Trust. 2. TMe. Borrower is the owner of the Property, has the right and authority to convey the Property, and warrants that the lion created hereby is a first and prior lien on Ing Property, except as may otherwise be set forlh herein, and the execution and delivery of this Deed of Trust does not violate any contractor other obligation to which Borrower Is subject. 3. Yaps, AsoosewAnte. To pay when dire all taxes, special assessments and all other charges against the Properly and, upon written demand by Lender, to pay to Lender such amount as may be sufficient loanable the Lender to pay such taxes, assessments or other charges as they become due. A. Iffixerame, To keep the Property Insured against damage by file, hazards included within the term "extended coverage', and such other hazards as Lender may require, in amounts and with companies acceptable to Lender. arid with loss payable to the Lender. In case of loss under such policies. the Lunder Is authorized to adjust, calleol and compromise, all claims thereunder and shall have the option of applying all or part of the insurance proceeds (,)to any indebtedness snc ured hereby and n, such order as Lender may determine. (if) to the Borrower to be used for the repair or restoration of the Property or (Id) for any other purpose or obl—t set;sfA Tory to Lender wllnout affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place Any appncnhon of pn,ceuds to uxfohtudnnss snail ftot extend of postpone the due date of any payments under the Note, or cure any default thereunder or hereunder 6. MaNrIMM1a1 Repelts and Compliance wqh Lewis. Borrower shall keep the Properly In good crmd,uon And opau. shall promptly ,open.. r replACn any improvement which may be damaged of destroyed: shell not commit or permit any waste or detenurall I of If P,opel ly. Shan nor domonsh or ra,hshud;auv anal any oftho impfavelmanls on the Pfapaily. shall notcommlt,sufferor pormitanyact to bedonem re upon lho Properly u, vlohHum,d..- my,udlnancr.,,u onWation Ann shall pay and promptly dlsche roe at Rat rower's cost and expense all Ilona. uric umb, allies arid,. hargex evlud mgru,"d l,r asengeu.d 1.01h,-of