87106759 - Laserfiche WebLink

Browse

F 146759 CWMENTAL NEBRASKA LN # 210804569 FE 11111ANM GS SANK DISCLOSURE To: ROBERT J. SCHMIDT and SHARON K. SCHMIDT hereinafter designated Traitors. Occidental Nebraska Federal Savings Bank, hereinafter referred to as Beneficiary, does by this Disclosure state that the form of security agreement securing payment of a Promissory Note to be executed by Trustors is a Trust Deed which Incorporates the provisions of the Nebraska Trust Deed Act. Said Deed of Trust covers the fotlowtng described property. LOT TWENTY (20), HIDDEN LAKES SUBDIVISION NUMBER FOUR (4), HALL COUNTY, NEBRASKA. Beneficiary discloses to Tr stm that sold Trust Deed is not a Mortgage, and, further, that the Trust Deed provides a power of safe in the Tri als% which power of safe is exercisable under the provisions of the Nebraska Trust Deed Act without the approval of any Court The Trust Deed provides substantially different rights and obligations to the Trustor than a Mortgage in the event of a default or breach of obligation by the Trustor. It the Trustee exercises the power of safe upon the occurrence of Trustor's default without cure, the Trustor has no right to prevent a sale if the tine granted by the Trust Deed to cure a default has expired. DATED NOVEMBER 20 ,1987 OCCIDENTAL NEBRASKA FEDERAL SAVINGS BANK By We, the used, have applied to Occidental Nebraska for a loan. The loan will be evidenced by a Promis- sory Note, the payment of which is to be secured by a Deed of Trust We have read the above Disclosure presented to us by Occidental Nebraska. We acknowledge and understand that the document we are executing is a Trust Deed and not a Mortgage, and that the power of sale provided for in the Trust Deed provides substantially different rights and obligations to Trust= than a Mortgage in the event of a default or breach of obligation. We, the Trustors, acknowledge that this Disclosure was made prior to the execution of the Deed of Trust. DATED NOVEMBER 20,1987 ROBERT J IDT TWATOR SHARON K. SCHMIDT STATE OF NEBRASKA ) ss. COUNTY OF ) HALL The foregoing Instrument was acknowledged before me this 20TH day of NOVEMBER L1987 by ROBERT J. AND SHARON K. SCHMIDT Trusto ► s. Y Di N;SE KAY LOWRY .otuer v UM: R'r Ca,n- to Rut 25 1 �1 IF-f31