86102036 - Laserfiche WebLink

Browse

TO. Larry E. Sanders and Linda K. Sanders herMrgdNr designated Trustors. Occidental Nebraska Federal Savings Bank, hereinafter referred to as Beneficiary, does by this Disclosure state that the form of security agreement ssaukg paymerit of a Promissory Note to be executed by Trustors is a Trust Dead which incorporates the provisions of the Nebraska Trust Deed Act. Said Deed of Trust covers the fohowing described Lot Thirteen (13), Pioneer Acres Subdivision, located in Section Two (2), Township Nine (9) North, Range Ten (10) West of the 6th F.M., Ball County, Nebraska. Beneficiary discloses to Trustor that said Trust Deed is not a Mortgage, and, further. that the Trust Deed provides a power of sale in the Trustee, which power of sale is exercisable under the provisions of the Nebraska Trust Deed Act without the approval of any Court. The Trur" 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. if the Trustee exercises the power of sale upon the occurrence of Trustor's default without cure, the Trustor has no right to prevent a sale if the time granted by the Trust Deed to cure a default has expired. DATED _April 28 1986 OCCIDENTAL NEBRASKA FEDERAL SAVINGS BANK By We, the undersigned, have applied to Occidental Nebraska for a loan. The loan will be ev 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 Trustors than a Mortgage in the event of a default or breach of obligation. We, the Trustors, acknowledge that this Disclosure was a prior to the execution of the Dead of Trust. zc DATED April 28 1986 TRUSTOR TRUSTOR s. tiKAiTE O* It�RASKA Hall ) 28th April ` The forepoinD instrument was acknowledged before me this .___r_. -__day of . _ i9 t36 by Larry K. Sanders and Linda K. Sanders Trustors. 0111101,111111 "111 LCWW ar flMM1 hg a 10 '14