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The undersigned hereby acknowledges that (a) the docurrent to be executed u a Trust Deed and not a mortgagC 4d lb! diVpower of sale provided
<br />for in the Trust Deed provides substantially different rights mid obligations to the Borrower tlun a mortgage in the event of a default or breach of obli-
<br />gation: The resents and agrees that this certification has been read and execu d onn tion with but prior to the undersigned's
<br />execuf n he fo„A dn�44
<br />Richard L. Tlet4en _Nancy Tiet en Raj __— _ _
<br />I TRUST DEED 001792
<br />THIS TRUST DEED is made this _8th day of - -- Agri 1 - -_ , 19 85 , by and between the Trustor,
<br />Richard L. Tietgen and Nancy L_Tietaen, husband and wife — (herein "Borrower"),
<br />whose mailing address is 7220 Braumfield Circle, Lincoln Nebraska 68516
<br />and _ First National Bank & Trust Companj of Lincoln— (herein "Trustee "),
<br />and the Beneficiary, FIRST NATIONAL BANK A TRUST COMPANY OF LINCOLN, a national banking association, whose mailing address is 13th tk
<br />"M" Streets, P. O. Box 81008, Lincoln, Nebraska 68501 (herein "Lender ").
<br />BORROWER, in consideration of the indebtedness herein recited and the trust herein created, irrevocably grants and conveys to Trustee, in trust,
<br />WITH THE POWER OF SALE, the following described propary located in the County of Hall _ _ _ _ _ , State of Nebraska:
<br />Condominium Unit No. 507, The Yancey, a Condominium,
<br />a condominium in accordance with the Declaration
<br />recorded on October 17, 1984, under Document No.
<br />84- 005507 of the County of Hall, State of Nebraska, records.
<br />TOGETHER with all buildings, fixtures and improvements now or hereafter erected thereon and all rights -of -way, easements, rents, issues, profits,
<br />income, tenements, haeditaments, privileges, appurtences, royalties, and mineral, oil, gas and water rights thereunto belonging, used or enjoyed with said
<br />land or any part thereof, all of which, including replacements and additions thereto shall be deemed to be and remain a put of the property covered by
<br />this Trust Deed; and all of the foregoing together with said property are herein referred to as the "Property- ".
<br />TO SECURE to Lender the repayment of indebtedness evidenced by Borrower's note dated April 8 1985
<br />together with any and all renewals, modifications, and extensions thereof and substitution or exchanges therefor, aem re err io as Inc "Noce 7
<br />the principal sum of S 49,000.00 - - -__ , together with interest at the rate provided therein, with a final
<br />maturity, if not sooner paid, of _ May 1 19 93 , and = secunry for any future advances that may be made
<br />by Lender to Borrower trom time to time and u ucunry� tor the payment of any an3 a other indebtedness of the Borrower to the Lender which may
<br />arise, all of said sums not to exceed in the aggregate a sum equal to three times the original principal amount of the above recited Note.
<br />BORROWER covenants that Borrower is lawfully seized of the Property hereby conveyed and has the right to grant and convey the Property, that
<br />the Property is unencumbered by any mortgage, trust deed, contract to purchase, or otherwise, except for a VA
<br />_ — N(g - - - -A — in favor of _ N/A _ on
<br />which the unpaid balance on this date does not exceed f N/A Borrower covenants to comply with all the
<br />terms and provisions of any prior mortgage, trust deed or contract to purchase, uponit r�ropaiy anti io nee all payments thereon before they become
<br />delinquent. If no name or amount is instated in this paragraph, then Borrower covenants that there are no prior liens of any kind upon the Property.
<br />Borrower further covenants to warrant and defend the title to the Property against all claims and demands.
<br />Borrower and Lender further covenant and agree as follows:
<br />1. Borrower shall promptly pay when due the principal and interest on the indebtedness evidenced by the Note.
<br />2. At least ten days before they become delinquent, Borrower shall pay all rues and special assessments levied or assessed against the Property,
<br />or any part thereof, and all cues, levies and assessments levied upon this Taut Deed or the debt which it secures.
<br />3. Borrower shall keep the improvements and buildings, if any, upon the Property insured, with a company or companies approved by the
<br />Lender, for an amount not less than the unpaid balance on the indebtedness secured by this Trust Deed with a standard mortgage clause with loss payable
<br />to the Lender. Borrower shall deliver said policy or policies to the Lends.
<br />In the event of a loss. Borrower shall give prompt notice to the insurance carrier and the Lender and file a proof of loss. If the Borrow= is not
<br />otherwise in default, the Borrower may elect to apply the insurance proceeds to repair or replace the damaged Property, if economically feasible, and the
<br />securtry of this Trust Deed would not be impaired. if the Borrower is in default or elects not to repair or replace the damaged Property or repair or
<br />replacement would not be economically feasible or the security of this Trust Deed would be impaired then the insurance proceeds shall be applied to the
<br />last maturing payments due on the Note. If the insurance proceeds are in excess of the total amount due on said Note, the excess shall be paid to the
<br />Borrow=. Insurance proceeds for repair or replacement shall be placed in escrow with the Lender and disbursed by Lender daring or upon completion of
<br />such repair or replacement. If the Lender acquires title to the Property by exercis its power of sale, foreclosure or otherwise, in satisfaction of the
<br />indebtedness secured hereby, in whole or in put, then all right, ri de and interest of�e Borrower in and to such insurance policy or policies stall pass to
<br />the Lender.
<br />4. For the purpose of providing a fund for the payment of tares, special assessments and insurance premiums, Borrower shall deposit with
<br />Lender, on the dates that payments are due on the Note, an amount equal to the axes, assessments and insurance premiums next due (all as estimated by
<br />the Lender, less amounts already deposited therefor) divided by the number of payments on the Note that will become due prior to the date when sucii
<br />taxes, assessments and insurance premiums will become due and payable. Said funds will be held by the Lender in a non - interest bearing exec. account
<br />for the purposes set forth above. If the amounts of [hest deposits are not euffielent to pay taxes, assessments and insurance premiums as they become
<br />due, then Borrower shall upon request, pay Lender the amount necessary to make up the deficiency.
<br />S. Unless applicable law provides otherwise, all payments received by Lender under the Note and paragraphs 1 and 4 hereof shall be applied
<br />by Lender rust in payment of amounts payable to Lender by Borrower under paragraph 4 hereof, then to interest payable on the Note, then to the
<br />principal of the Note, and then to Interest and principal on any further advances or other indebtedness secured hereby.
<br />6. Borrower shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property.
<br />7. If Borrower fails to: a) maintain or pay the premiums for the required insurance of the Property, or b) pay taxes before delinquent, or c) pay
<br />any amount due under a prior mongage or trust deed before delinquent, or d) maintain the Property in good repair, or e) erform any of the covenants or
<br />apcctncnts of this Trust Deed, then Lender may at its option pay such insurance premiums, taxes, mortgage or trust deed payments, or make repairs and
<br />disburse such sums arid take such action as it deems necessary to protect its interest without waiting or affecting its right to declare or default and accel
<br />gate the debt secured hereby because ofany such failure of the Borrower. Any amounts so disbursed by the Lender shall constitute additional indebted'
<br />new of Borrower secured by this Trust Deed and shall bear interest from the date of disbursement at the rate payable under the Note. Nothing contained
<br />in this paragraph shall require Lender to make any such disbursements or take any action whatsoever.
<br />8. Leader may make or cause to be made reasonable entries upon and inspection of the Property.
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<br />9. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Prop•
<br />ary, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and s1uU be paid to Lender to the extent of the hill amount of the
<br />remaining unpaid indebtedness secured by this Trutt Deed.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim
<br />for damages, Borrower falls to respond to Lerida within 30 days after the date such notice is mailed, Lender is authorized to collect and apply the
<br />proceeds to the sums secured by this Trust Deed.
<br />Condemnation proceeds nr awarda shall be credited to the last maturing installments of the indebtedness secured and &hall not extend or postpone
<br />the due date of the installments referred to in paragraphs 1 and 4 hereof or change the amount of such illtalllliemlt.
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<br />10. If the Lender issues a partial release of this Trust Deed, the proceeds received thercfot %lull be credited to the last ntattmnlg installments of
<br />the indebtedness secured hereby.
<br />I1. If Lender either voluntarily or involuntarily becomes a party to any ,lilt to Icgai rl—c-ding telaung to the Property, Note or this Tnlst
<br />Dyed, then Borruwca will rcimbursc the Lender for all cosu and, to the cent pennlrecd by law atimnev Err, mauled by the Lender Telanni;
<br />rO % dl k,it Or It" prnCeedinp and said &illTl6 811611 for"titute additional indebiedness feame,I by t1llS Ir1l5t 01 1 slid bear intert'ct Ai the rate pavabie
<br />under the Nor, , min] {,ald,
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<br />12. A, add lilo1.1 —olty E{urr „wcr dues hereby azilgi,, irdllslcr And Set ever 1�� i Ct {dc's, :; �.: A+f Il! t {eld'� : :: '.n Iii {.�'i i011n drill of x111 „I the tf' 11
<br />Ire ..o Idlbortt t tl le Tlel st Deed, the 'Jnir, nl the terms of any uulehtclhlry arts• 1 I -rebv 1 uhf r 1 tt , . nl am u 1 c of a ter{ r s, liar
<br />.oc r t., ba 3. 1 d Enun rile Noperty, mclud,na lied 1111=11 paywenll . l end 1
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