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ACKNOWLEDGEMENT OF DEED OF TRUST 87— 106945
<br />BORROWERS READ THIS BEFORE SIGNING:
<br />Borrowers (Trustors) understand that the document that the Borrowers are about to execute is a Deed of Trust and pct a mortgage and that the power of sale provided
<br />for In the Deed of Trust provides substantially different rights and obligations to the Borrowers than a mortgage in the event of a default or breach of obligation under the
<br />Deed of Trust. Including, but not limited to. the Lender's right to have the Real Property sold by the Trustee with u udicial proceeding or foreclosure. Borrowers
<br />represent amt warrant that this acknowledgement was executed by them befor ution of the Deed of Tru
<br />(R bert K. Poland) Borrower -� sband)
<br />( ith K. Poland) Borrower (Wife)
<br />PREFACE TO DEED OF TRUST
<br />COMPLETE lids portion ONLY II the real property di scrlbed consists of INDIVIOUALLV OWNED AGRICULTURAL LAND.
<br />It applicable, complete ONLV ONE *111her A, B, or C:
<br />❑ A. DISCLAIMER 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 than one, do hereby disclaim their right to designate a homestead pursuant thereto. No part of the homestead of either of the Borrower(s) is presently or will in the
<br />future be situated upon said teat 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 shell be no right to make a designation of homestead i n the event of a foreclosure or trustee's sale with respect to
<br />said Deed of Trust
<br />Q 0. WAIVER OF RIGHT TO DESIGNATE HOMESTEAD:
<br />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
<br />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
<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 OF HOMESTEAD:
<br />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
<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 2..._. day of ._December_ ig 67 __ . by and among the Trustor. -__RobeLt– Kam.- --
<br />Poland & Judith Poland_, _Husband_ &_Wife whosema,lingadaressls Rt. 2, Box_ 242, Grand Island, NE
<br />68801 therein •Borrower'). the Trustee. William G_ Blackburn, A_Member_of the NE State Bar Assn.
<br />whose mailing address is _P• 0._80x_2280, Grand _Island, NE 68802_2280 _____(herein 'Trustee),
<br />and the Beneficiary. Five Points Bank
<br />whose mailing address is — P—O-BOX_ 1507 __ -Grand - Island,_.NE__.58B92- 1507- __ _- __ -_ --- ------ (herein•Lender'),
<br />FOR VALUABLE CONSIDERATION, including the indebtedness ,dentdied herein and trust herein created. the receipt of which is hereby acknowledged. Borrower
<br />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
<br />terms and conditions hereinafter set forth, the real property, described as follows.
<br />The North Half of the Northwest Quarter (N }NW}) (except twelve (12) acres, more or less,
<br />in the Northwest corner of said tract); the Southeast Quarter of the Northwest Quarter
<br />(SE:NW }); the Northeast Quarter of the Southwest Quarter (NE;SW#); and the North Half
<br />of the Southeast Quarter (N }SE;), all in Section Five (5), Township Ten (10), North,
<br />Range Nine (9), West of the 6th P.M., Hall County, Nebraska, containing two hundred
<br />eighteen (218) acres, more or less, excepting those parts thereofdeeded to the Hastings
<br />& Grand Island Railroad Company for right -of -way purposes, by Deeds recorded in Book
<br />"Hit at Pages 113 and 130, and except conveyances for highway purposes.
<br />Together with all buildings, improvements, fixtures, streets, alleys, passageways, easements. rights. privileges and appurtenances located thereon or In anywise
<br />pertaining thereto, and the rents, issues and profits, reversions and remainders (hereof; including. but not limited to. heating and cooling equipment and such personal
<br />properly that is attached to the improvements spas to constitute a fixture: and together with the homestead or marital Interests. if any which interests are hereby released
<br />and waived: all Of which• including replacements and additions thereto. is hereby declared to be apart of the real estate secured by the 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 (a) the payment of the principal sum and interest evidenced by Borrower's note and %or credit agreement dated
<br />1212187 , having a maturity date of __121212092______ _ ____ . In the original principal amount at s 1Z40_0_0.20_ -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 performance all covenants and agreement
<br />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.
<br />guaranty, overdraft or otherwise.
<br />Borrower, to protect the security of this Deed of Trust. covenants and agrees with Lender as follows
<br />1. Patimentef Prtneipet and Interest. Borrower shall promptly pay when due The principal of and interest on, and any lees or charges provided in, the Note or In this
<br />Deed of Trust.
<br />Z TIRO. Borrower is the owner of the Property, has the right and authority to convey the Properly and warrants that the lien created hereby is a first and prior lien on
<br />the Propefty.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 />]. Tases,Ain esenrante. To pay when due all taxes, special assessments and all other charges against the Property and upon written demand by Lentler to pay to
<br />Lender such amount as may be sufficient to enable the Lender to pay such taxes. assessments or other charges as thry become due
<br />R. Inin mace. To keep the Property Insured against damage by fire. hazards Included within the term "extended coverage '. and such other hazards as Lender may
<br />requite, in amounts and with companies acceptable to Lender. and with loss payable to the Lender In Case of loss under such policies. the Lender i5 authorized to adlust
<br />coliect and compromise, all claims t hereunder and shall have the option of applying all or part of the Insurance proceeds fo to any indebtedness secured hereby an I;o such
<br />order as Lender may determine. II,I to the Borrower lobe used for the repair or resloraoon of the Properly or 010 for any nine, purpose o, ohl— l sancta, -. 1-y to Lind,-,
<br />- without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place Any apply ,l n of pro+:eedti id ,nii•bte0111—
<br />not extend of postpone the due date of any payments under the Note, or cure any defaliit there Under or hf?rl•undf!r
<br />5 Mainlemnee Refeaffs and Cornpaanice with Laws. Burrower shall keep the Property n good rnplare a."
<br />,mprovamenl which maY no damaged c r destrovod. soar: nil can +mil nr permit any waste or detee;�rahon r>I Ili•• Pr c, pe+ty .n.,l! •,.,t r °,n��v.• ,ir,n_,I.. r . + sl,hsl.,.+l. alit alto:
<br />an,of the,mprpvent —tson the Property, shall not c.mmt f p anyo;, v,tle r .I r 1 tv f. .I, •, r.
<br />Lhall pay end prpmptiy d,scharge ai Borrowers'ostantl u +p -.I.rr all it s, ,,not dr. i+s al,,.tcr+I +rl ;.t, art n,I, -.,..t . 1 sr ,.. , , v•., .1, :I „, l', r +...
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