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87-- 106993 ACKNOWLEDGEMENT OF DEED OF TRUST NMROWERS READ THIS BEFORE SIGNING: Borrowers (Truston) understand that the document that the Borrowers are about to execute is a Deed of Trust and not a mortgage and that the power of sale provided 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 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 foreclosure. Borrowers represent and warrant that this acknowledgement was executed by them before the execution of the Deed of Trust. (Larry nton) a rower Borrower PREFACE TO DEED OF TRUST COMPLETE this portion ONLY it the real property described consists of INDIVIDUALLY OWNED AGRICULTURAL LAND. It applicable, complete ONLY ONE Bihar A. B. or C: ❑ A. DISCLAIMER OF RIGHT TO DESIGNATE HOMESTEAD: The Borrower(s) acknowledge that they are about to execute the lollowing Deed of Trust upon the real estate described therein. The Borrower(s), and each at them it more than one, do hereby disclaim their right to designate a homestead pursuant thereto. No pan of the homestead of either of the Borrower(s) is presently or will in the ruture 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 remains Unsatisfied and alien upon said real estate, there shall be no right to make a designation of homestead in the event of a foreclosure or trustees sale with respect to said Deed of Trust ❑ B. WAIVER OF RIGNT TO DESIGNATE HOMESTEAD: The Borrower(s) acknowledge that they are about to execute the following Deed of T rust 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(sj 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 pu rpose of affording them the opportunity to retain their homestead in the event of a default upon the Dead 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 3rd_ day of .December ig 87 -. -.. by and among the Trustor, _ Larry E - Fenton, a single per%nn ------ .whosemailingaddresses P O.._._Box_ 426. -Srand Island, . NE 68802 -11 126 -_- (herein Borrower "I theTruslee. _Five__Points_Bank- whose mailingaddressis P: Q.- -Rox -- 07 }- _%riartd. �sta_Rd,_.NE_-_688QZ_ -15 7_ -_ ..._ _____- — (herein'Trustee'). and the Beneficiary._F1Ye— P41n #$__ Bank_ .__ - -. ._.. __.____- _..___.- whose mailing address is P.O 13 ._..1. 507 , Grand - Island, 6-8-802--l-5-0-7 (herein 'Lender ). FOR VALUABLE CONSIDERATION. including the indebtedness identdied herein and trust herein created the receipt of which is hereby acknowledged. Borrower hereby irrevocably grants, transfers. conveys and assigns to Trustee. IN TRUST. 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 One Hundred Twenty Two (122) and the North Ten (10) Feet of Lot One Hundred Twenty Three (123), Hawthorne Place, being a Subdivision of part of the Northwest Quarter (NW0 of Section Twenty Two (22), Township Eleven (11) North, Range Nine (9) 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, healing 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. it 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 of lhis Deed of Trust and all of the foregoing being referred to herein as the "property" This Deed of Trust shall secure (a) the payment of the principal sum and interest evidenced by Borrowers note and/or credit agreement dated December_ 3 , 1987 , having a maturity date of 12- 0J= 2Q-U_________ __ In the original principal amount of S - -23 004 QQ and any and all - 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 agreemenU (herein called "Note "): (b) the payment of other sums advanced by Lender to protect the security of the Note. f c) the performance all covenants and agreement of Borrower set lonh 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 1. Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on, and any fees or charges provided in, the Note or in this Deed of Trust. 2. TWO. 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 L the Property, except as may otherwise be set forth herein, and the execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Sofro" is subject. " 3. Taxes, Aesaaaments. To pay when due 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 to enable the Lender to pay such taxes, assessments or other charges as they become due - 4. leurande. To keep the Properly insured against damage by fire, hazards included within the term "extended coverage . and such other nazards as lender may require. in amounts and with companies acceptable to Lender. and with loss payable to the Lender In case of loss under such policies. the Lender is authorized to adjust. - - collect and compromise, all Claims thereunder and shall have the option of applying all or part of the insurance proceeds o) to any indebtedness secured hereby and in such r order as lender may determine. (u) to the Borrower to be used for the repair or restoration of the Property or put for any other put pose or object satisfactory to Le• der without affecting the lien of this Dead of Trust for the full amount secured hereby before such payment ever took pi are Any al %pucahnn of p.oceeds to Indehtedness shall not extend or postpone the due dale of any payments under the Note. or cure any default thereunder or hereundef 5 Maintenance RePaRe and CompnallGf with Laws. Borrower shall keep the Properly in good c dlior, alit repair ;:hall'11 "Inptly ienli�r , rlplat:e an} imprtivemanl Wh ich may be damaged or destroyed , shall not commit or permit any waste or deterio,ationlf [heip-pe,ty s hail riot'nn'<ivc '! nt %I,sli i.�yuhslanliaily ail"" any of the improvements on the Property shall not comm+t. softer or perm tarty act to be done en or L- unrProperty shall payand promptly discharge at BoriO scoSl and evpense alllmns.encu nhrnnces (Ind 011 ge'l vt l 1 n {ir It "I l "' ii y {'iii "e•' "' - _,J } "'-