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ACKNOWLEDGEMENT OF DEED OF T496 --w i 107113
<br />Borrowers ((Trusters) understated that the document that the Borrowers are about to execute is a Deed of Trust and nol a mortgage and that the power of sale
<br />provided for in llte Deed of Trust proriWeMttreMrttiNly ddfi ent rights and obligations to the Borrowers than a mortgage in the event of a default or breach of obligation
<br />under He Deed of Trout, including, but not Ii Mad to. the Lenders right to have the Real Property sold by the Trustee without any judicial proceeding or foreclosure.
<br />Borrowers represent and warrant that this acknowledgement was executed by them before the execution of the of Ttyat�
<br />( Gene E. DaMoude) Borrower
<br />Borrower
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST, is made as of the —2_ day of DeCemher .19 $f?_ by and among the Trustor, Gene E.
<br />DaMnudF whose mailing address is 4111 Airp9zt Road
<br />(herein- Borrowar•),the Trustee. x7111iam G_ R1arkhttrnr Attnrney
<br />whose mailing address is P_(]_ Box 2280, Grand Tcland, NE 68802 (herein 'Trustee'), and the Beneficiary.
<br />Five Pnintc Bank , whose mailing address is P_0_ Box 1C.Ql (;rand Tclandr NE 68£02terein-Lender•1
<br />FOR VALUABLE CONSIDERATION, including the indebtedness identified herein and trust herein created. the receipt of which is hereby acknowledged. Borrower
<br />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
<br />forma and contditionms hereinafter set forth, the real property, described in Exhibit A attached hereto and incorporated herein by this reference'
<br />Together with all buildings. improvements. fixtures, streets. alleys, passageways, easements. rights. privileges and appurtenances located thereon or in anywise
<br />pertaining Hereto, and the rents, issues and profits, reversions and remainders thereof: including, but not limited t0 gating and cooling eequipmeint and such personal
<br />property Hal is attached tothe improvements so as to constitutes fixture, and together with the homestead or marital Interests. if any. which interests are hereby released
<br />and waived: all of which, including replacementsand additions thereto. is hereby declared to be a part Of the real estate secured by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the - property *See Attachment,
<br />This Deed of Trust shall secure (a) the payment of the principal sum and Interest evidenced by Borrower's note dated 12/2/86 .
<br />having a maturity date of 6/1/67 , +n the original principal amount of s 20 026 _ 00 and any and an modifications, extensions and
<br />renewalsMereW orthereto and any and all future advancesand readvarces nereunder pursuant to one or more promissory notes ( herein called "Note -). (b) the payment of
<br />other sums advanced by Lender to protect the security of this Deed of Trust. with interest thereon as provided in the Note: and tcl the performance of all covenants and
<br />agreement of Borrower set forth Herein.
<br />Borrower• to protect the security of this Deed of Trust. covenants and agrees with Lender as follows
<br />1. reywtenlefrrkm*WwW MNr4mL Borrower shall promptly pay when due the principal of and interest on, and any fees or charges provided m, the Note or in this
<br />Deed of Taut.
<br />2. TIOe. Borrower istheownerof the Property. has the right and authority to convey the Property. and warrants that the lien created hereby is a first and prior hen or.
<br />the Properly. except as may otherwise be set forth on Exhibit Ahereto. and the execution and delivery of this Deed of Trust does not violate any contract or other obligation
<br />to which Borrower is subject-
<br />3- Team Aeeeemostdc To pay when due all taxes. special assessments and all other charges against the Property and. upon written demand by Lender, to pay to
<br />Lender such amount as may be sufficient to enable the Lender to pay such taxes. assessments or other charges as they become due.
<br />a. Ifteaasoe. To keep the Property insured against damage by fire, hazards included within the term "extended coverage', and such other hazards as Lender may
<br />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.
<br />c~ and compromise. all claims thereunderand shall have the option of applying all or part of the insurance proceeds Ill to any indebtedness secured hereby and in such
<br />order a Lender may determine, (ii) to the Borrower to be used for the repair or restoration of the Property or (iii) for any other purpose or object satisfactory to Lender
<br />wiHOut afhclirg the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place Any application of proceeds to indebtedness shall
<br />not extend or postpone the due date of any payments under the Note. or cure any default thereunder or hereunder.
<br />5. YalrttentaaI A III I and Cowpkrta with Laws. Borrower shelf keep the Property in good condition and repair• shall promptly repair. or replace any
<br />improvement efHie:b may be demaged or destroyed: shelf not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter
<br />any of the improvemeftts on the Property; shall not commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance. or regulation: and
<br />steal) payand promptly discharge at Borrowers cost and expense an liens, encumbrances and charges levied. imposed or assessed against the Property or any part thereof.
<br />6. Eelirrtt Oewaia Lender is hereby assigned all compensation, awards. damages and other payments or relief (hereinafter "Proceeds -) in connection with
<br />condemnation or other taking of the Property or part thereof. or for conveyance in lieu of condemnation Lender shall be entitled at its option to commence, appear in and
<br />prosecute in its own name any action or proceedings. and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the
<br />event any portion of the Property is so taken or damaged. Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds. after deducting
<br />therefrom all coals and expenses incurred by it in connection with such proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to
<br />apply all such Proceeds, after such deductions, to tee restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to
<br />indebtedness shall not extend or postpone the due sate of any payments under the Note, or cure any default thereunder or hereunder.
<br />7. MIW111Mee by LeMer.In in* event of Borrower's failure to perform any of the covenents herein or make any payments required hereby, or if any act is taken or
<br />legs prclo"W gcommenced which maNriatty effects Lender's interest in the Property. Lender may in its own discretion, but without obligation to do so. and without notice
<br />toordemand upon Borrowerand without releasing Borrower from any obligation, do any act which the Borrower has agreed but fails to do and may also do any other act it
<br />deems necessary to protect the security hereof. Borrower shall, immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums
<br />expeflded by Lender in connection with the exercies by Lender of the foregoing rights. together with interest thereon at the rate provided in the Note, which shall be added to
<br />the indebtedness secured hereby. Lender shall not incur any personal liability because of anything it may do or omit to do hereunder.
<br />11. Eveaft el Deseult. The following shall constitute an event of default under this Deed of Trust
<br />(a) Failure to pay any installment of principal or interest or any other sum secured hereby when due. or failure to pay when due any other indebtedness Of
<br />Borrower to Lander,
<br />(b) A breach of or default under any provision contained in the Note. this Deed of Trust, any document which secures the Note, and any other
<br />encumbrance upon the Property,
<br />(C) A writ of execution Or attachment or any similar process shall beentefed against Borrower which shall become a lien on the property or any portion
<br />thereof or interest therein;
<br />(d! There shall be filed by or against Borrower an action under any present or suture tederal. state or ether statute, law or regulation relating to
<br />bankruptcy, insolvency or other relief for debtors: or there shalt be appointed any trustee, rece—r or liquidator of Borrower or of all or any part of the Property. or
<br />the rents, issues or profits thereof, or Borrower shall make any general assignment for the benetil of creditors
<br />(e) The sale. transfer, assignment, conveyance or further encumbrance of all or any pan of or any interest in the Property, either voluntarily or
<br />involuntarily. without the express written consent of Lender.
<br />(1) If Borrower is no an individual. the sale, transfer, assignment, conveyance or encumbrance of more than percent of (if a corporation) its
<br />loan* and outstanding stock o (if a partnership) percent of partnership interests.
<br />g. Oetttawer, AeseMtaYett tlpnDela ill. to tee event of any Event of Default Lender may declare all indebtedness secured hereby lobe due and payable and the
<br />same shalt thereupoin becllme due and payable, without any presentment, demand, protest on notice of any kind. Thereafter Lender may
<br />(a) Demand that Trustee exorcisethe POWER OF SALE granted herein, and Trustee shag thereafter cause Borrowers ntemst in the Property to be sold
<br />end
<br />the proceeds to be distributed, all in that manner provided in the Nebraska Trust Deeds Act.
<br />(b) Either in person or by agent with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the
<br />adequacy of Kisecurity, enter upon and Lace possession of the Property, or any part thereof, in its own name or +n the name of the Trustee, and do any acts which
<br />if deeete necessary of desirable to preserve the value, marketability or rentability of the Property. or part thereof or interest therein, increase the income
<br />therefrom or protect the security hereof and, with or without taking possession Of the Property, sue for or otherwise collect the rents, issues and ofits Hereof,
<br />Including those pat due and unpaid. and apply tnesame, lass costs slid expenses of operation and collection including attorneys less. upon any indebtedness
<br />.. secured hereby, all in such Order es Lender may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and
<br />proftle and tee application thoreol es aforesaid. Shelf not cure or waiveany default or notice of default hereunder or invalidate any act done in response to such
<br />default W pursuant to such notice of default and, nolwithslaMftrlg the Continuance in possession p1 the Propety Or the collection. receipt and applicalion of
<br />fonts. smiles or profits. Trustee or Larder shall be entitled to exercise every right provided for in any of the Loan Instruments or by law upon occurence of any
<br />event of default, including tree right to exercise the power of safe, and
<br />(e) Commence sit action tuforeCbN this Deed of Trust as a mortgage, appoint a rKo -yer, of spectfically enierce any of the covenants hereof
<br />No ramedy, herein conferred upon or reserved to Trustee at Lender is intended to be excius+ve of any oche +mrnedy he+e'lo y I.. P, cyload o f pee —lied hue earn r. ^.all to
<br />CuMuloll", ~be in addition to every other rarnady give i he•eunder c r nUw or hnr @after exist nq of 'xw er l•+ eau,,, +,. t•. ,[.?I.,IN x�n may to e.er c+ceU C+��. i,• �elfly
<br />independently or suc arlaswely
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