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, � . (� f� - �, _ \� �,;-.... • rn cn'n � � �, o v+ '-�i- N c�:_ n �� � � _ � `��. .. —� � � � �D -�-1 �'"• �Ct. :a w `� �'� i]� � � � � ..,�. �> -Tt C/! � � -r� {_ �� � J ` � � � � T.� C:7 "Y� _ .. f— -� r ��. q � � � � � n � � � � � ACKNOWLEDGMENT OF DEED OF TRUST AS SECURITY INSTRUMENT we, John H. Olson and Debra K. Olson Husband and Wife As Joint Tenants � � ��$t0�� under the followtng Deed of Trust to be entered Into among Trustors, National Bank of Commerce Trust and Savins�s AssociaUon. 13th and "O" SVeet. Uncoln. NE 68508 ("TrUSte9")� and The Overland National Bank of Grand Isiand ("Beneficiary") covering the property descr�ed below hereby acknowledge that k is understood that (a) the Deed of Trust to be executed by Trustor is a trust deed and not a mortgage and (b) the power of sele provided for in the Deed of Trust provides substantially different rights and obligatio�s to the Trustor than a mortgage In the event of default or breaCh of obligatfon. Trustor acknowledges that this Acknowledgment was made prior to the execution of the Deed of Tn�st. Executed and delivered this 26th day of MBrCh , 1998 Truator � �� Trustor John H. 0�8011 � �lc��O� Trustor T'rwtor Debra K. 0�8011 DEED OF TRUST THIS DEED OF TRUST ("Security Instrument") is made on M81'Ch 26th , 1998 The t►ustor is John H. Olson and Debra K. Olson Husband and Wffe As Joint Tenants ("Borrower"). rne cn,stee �s National Benk of Commerce Trust and Savinas Association. 13th and "O" SVeet, Lincoln NE 68508 ("Trustee"). The benefiCiary Is The Overland National Bank of Grand Island , which is organized and existing under tne �aws ot The United States of America , and wnose address �s 304 West Third SVeet Grand Island NE 68801 (^Lender"�. BoROwer owes Lender the principal sum of SixtV Eiqht Thousand arld 00/100 Dollars (U.S.$ 68,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), whkh provides for monthly payments, with the full debt, if not paid earlier, due and payable on A��il 1, 2013 This SecurRy Instrument secures to Lender: (a) repayment of the debt evidenced by the Note, wfth interest, and all renewals, extensions and mod'rfications of the Note; (b) the payment of alt other sums, with interest, advanced under paragraph 7 to protect the securiry of this Securiry Instrument; and (c) the performance of Bonower's covenants and agreements. For this purpose, Borrower krevocaby grants and conveys to Trustee, in trust, with power of sale, the following descr�ed property located h Hell County, Nebraska: The East 26.50 Feet of Lot 7 and the West 47.50 Feet of Lot 8, Block 2 Rief's Addition to the Village of Doniphan Hali County Nebraska. And A tract of Ground �l4 x 253 Feet in the Nortfiwest Quarter o� the Northeas� Quarter (NW1/4NE1/4) of Section EIght (8), Township Nine (9) North Range Nine (9), West of the 6th P.M. in Hall Coun , Nebraska, described as follows: Commencing at a pofnt on the North line of �ection Ei ht Nine (9) West of the 6th P.M., Three Nundred Si g � ) Township Nine (9) North, Range point of intersection of the East line of the St. Joseprheand G andelsland�Railwat Compa ty's right-of-way with said North line, running thence South and parallel with said righ�-of-way Two Hundred Fifty-Three (253) feet thence East at ri ht an les and Seven four (74) feet thence �Vorth at right angles Two9Hundred pFifty Threeh 2 3ij feetrt o �the North �ne of sald sec�ion; thence West along said North Une Seventy-four (74) �eet to the place of beginning. wn�cn nas tne address ot 201 East Pine St. , Doniahan. Nebraska 68832 ("Property Address"); Strsst . p�y Form 302E 9/YO NEBRA8KA S�Indl�FamA FNM F1319.LM0(1/p7) O r NFHLMC UNIFORM IN8TRUMENT � __/� Pap• 1 of 5 (��J