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<br /> ACKNOWLEDGiEMENT OF DEED OF TRUBT AB BECURITY INBTRUMF�IT
<br /> �y� WILY.IAM J. PRB8COTT.
<br /> ,("lY+�tonh
<br /> u�d�etlwfopowin�_I�M1dTnnRW b��dinblzpou�
<br /> :� ("TrurtM"),snd�iSd�� A. Preeeott ,� M� y Ali ce Preacotti"Beneflafarry")covetinQ tAe prop�rty de�crib�d
<br /> bdo�v Iwreby acla�owbdge that it i�undsrstood tlu�t(s)ths Deed of Tiwt to be executed by'l1wWr i�a truat dbed aad
<br /> _.—� aoL a mort;aqe�nd(61 the power of�ale provlded for in the Deed of 1Ywt provide��ub�tanUally dlif�»nt riahts aad ` R
<br /> ;,,. obliQntions to tha Trurtor then e mortgege in tha event of defeult or bresah of oblig�tion.
<br /> Z�Y/�Oi YCIUIOWI8�6B�L tI1L ACI�IIOWI�BAC W�t dIBdB pl'IO!'r0 ZI19 e1IlCU�OA Of�DNd Ot�W�.
<br />----- Es�utAd iu►d L)olivered thi� lgth d�yof Ju
<br /> ___ �.�.�....._ �.•�.� ' ., �+. I �—
<br /> �._���f Tru�tor
<br /> �e�n;:;�t h �� !
<br />� 'r iA�..��..,iatt� . —
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<br /> _�-�-� ��,. DEED OF TR,UST �,,-:_
<br /> . : •��;:,�,�y THIS DE�D OF Ti��IST,is made as of 15 th day o4' June ,19 �,�.,.by , ; _
<br /> . 4;- � . � � ("Truetor 7. whoae mailing addettss is I =--
<br /> :'1 d �±;•�f.�t '��•-ifics. �• � Rnnlc sand Tr��wt(:emy anv � �•
<br /> �Z;� �,4 � �.`i.:.
<br /> ti�r.��P�4, . ��[UYfBB�'��W�Wl8d1i�Ilk,Ua �B ,.,�/•S e....af, n CtraatF�..n..il^Y RRR t
<br /> �',,� , .'' _ • Broken Bc�s�. Nebraska 68822 . I ,ii:
<br /> �''.�:r::.�,.. _,�' �d ("BeneAciary") �
<br /> • ,' •� ���� whose mailing addreee is 8 So I
<br /> "`'"s `:.� . ��� . Broken Bnw. Nebraska 68R22 ' �E
<br /> '.' `"' " ' ""': FOR IiALUA�I.E CQNSIDERATION,Truetor irrevacably tranefera,rnnvoye and aaeigna to T�vatee, IN TRUST. ! '��`'-
<br /> � �' WITH POR'ER OF SALE,for the beneflt and eecurity of Heneficiary,under and aubject to the terme and conditione of thie ; �'"w�,
<br /> `' `�"�'• . ' � Deed ofTvuet.the real property located in the City of Grand Island ,Countyof ; �!"_"'�
<br /> >> • I 11a11 ,Stste of Nebraeka,and legally deerrlbed aa followe(Lhe Property"): �
<br /> -•.<<• � "� � The EA�t Half (E�) of Lota Fourteen (14) and Sixteen (16). Block Fifteen (15), j ��
<br /> : __- '�'''' ` � . " University Plece, an Addition to the City of Grand Island, Hall CounCy. Nebraska. � -
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<br /> :•���'° TaGE'1'HER WI9',H,all renta,eaeemeate, appurtenances,hereditamente, intereata in ad3oining roada, atreete and �1°�='�
<br /> `:�',r�i�� � � ' .�i�. :; � alleyn,improvements and building�of any kind situated thereon and all pereonal property thet may be or hernafter become ; I
<br /> �i; '", ' ;': ' �n iotegral p�rt of�ucb building�end improvemente,all cropa rAieed thereon�end all water righis. ' il �''
<br /> , , ''':��••� The Property and t}ie entire e�tate and intereet conveyed to the Tnietee are reierred W collectively as the"'IYurt i I, �r,�,:
<br /> .,?,,,�
<br /> "�;'''. .' si . --
<br /> �� ,, ,,. , , . � L�'rl�te". fy"•;'�
<br /> , . .„� FOR THE PURPOSE OF SECU�I�1(3: I ,y!�::_'
<br />-. ' � e. Payment of indebtnw�in the tatal princ[pal amowit of E 48.u00.u� ,with interert thereon.ea evidenced by ±�:-%'
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<br />�.�'���. ; . -- :I thatcertainpromieeorynoteofevendate(the"Note")wilhameturitydateof �Lne 1. 2008 . i =-°°
<br />_. : � ., . ! e:ecuted by'I�uetor,which hae been delivered and ie payable to the orde�of BeneBciery,and which by thie reference ia , ' ,.
<br /> '� � horvby made a part hereof,and any end all modifications,extenaions and renewals thereof,end ' �
<br /> �' � ,�:�,�: °` �) � b. Payment of all aume advenced b Beneftcie to rotect the'lYuet Eetate,with interert thereon at the rete of � �
<br /> +' ;�.,: Y *Y P , , t';';,
<br />- , _.?:!�,�• . .,,. , � Fourteen percent( 14 %1 per ennum, and ,�,..,.',
<br /> . +;�.�,. J,,,. ,. . . �, � c. The performance of Truetors covenente and agreementa. � '�: ,.:
<br /> ' ' ' � Thie Deed of Truet,the Note, and any other inetrument given to evidence or further secure the payment aad i
<br /> .�" ° .. ; � ;i I performnnce of eny obligation eecured hereby are referred to collectively oa the"I.oan Inatrumente". �� ����~'
<br /> TO PROTEGT THE 3ECURITY OF THIS DEED OF TRUST: �
<br /> � 1.PAYMENT OF IND�BTEANESS.Truetor ehall pay when due the principal of,and the intereet on,the indebtedne�s ;,
<br /> � � evldenced by the Note,charqea,fees and all other aume as provided in the Loan Inetrnmenta. � �ti:'�
<br /> ` � � i 2. TAXE3 AND A39E33MENT3.Truetor shall pay all ta.ces and epecial aseeexmenta of every kind,now or hereafter �. . �:
<br /> . I �..
<br /> , :i levied agairut the tru�t eetate or any part thereof as followe: i� '�u_.
<br /> ' (iaiti one) r-
<br /> `���! '' s'� � ' r � �}uetor ehall directly pay euch tauee,without notice or demand as each installment comes due and shell provlde 'I ,�.�,�.
<br /> �� �•' '` f' ; the beneftciery with evidence of the payment of the aame. . � �,�'
<br />",�'.�� r,'�. � " � . Trustor�hall pay to beneflciery one•twelfth of the real estate taxea each month and euch other aeeeasments as � �"
<br /> � � . they become due.The one•twelRh payment ehell be ac�uated annually ae the texes change and trustor agrees thet ' �.
<br /> `� � after peyment of the texes each year that any deticiency wi11 be prompty puid to Beneficiery.Beneficiary egrees � '
<br /> �.M, �; � , • to provide truetor wfth receipts showing that the real eatate taxes have been paid in full and when due.
<br /> � �; � 3. 1N3URANCE AND REPAIRS. TrueWr shall maintaln fire and extended covarnge ineurance ineuring the '
<br /> '�' � im rovements and buildin e conetftutin P �
<br /> ��,: �� p g g pert oPthe Truet Eetate for an nmount no lesa t�an the amount of the un a�d
<br />. � prfncipal balence of the Note�co•ineurance not exceeding 80�permitted).Such in�urance policy shall contain e etandard
<br /> ' mortgage clause in favorof Beneficisry and�hal1 not be cancella�le,terminable or modi[iable without ten(10)days prior ,�
<br /> }' � � written notice to Heneficisry,Truetor ehall promptly repair,maintain and replace the Truet Estate or any part thereof eo �
<br /> `f;''� ' ' x . � : ` ' that,except fo�ordinary wear and tear,the'l�ust Estate ehall not deteriorete.In no event shall the Truetor rnmmit w oate ��,
<br />�:�:.�,,. . ,,,,.-; . , ,
<br />..:,,,. : . .',.:.. ,. � oa or to the Truet Eetate. . i
<br />__�,;;����:, j i�:t�',�;i ,• ;' �::;�4'?,;`:, i� ' 4.ACTIONS AFFECTING TRUST E3TATE.Truetor ehaJl appear in and conteet any action or proceeding purporting , .
<br /> ���;..�..� %�±y,;. � ' "' ! to affert the eecurity hercof or the righte or power�of Bene6ciary or Truatee,t�nd ehall pay all rnste and expenses,indurldng
<br /> .,,�t�,,��?. ��t'���.�. , . . .. !' • cai oS'evidence of title and ettorney s fee�.in any auch aetion or proceeding in whfch Beneticiary or Truatee may appear. .
<br /> � �� �.�^ �'�"5`'��' � 35hauD8'1'twtor fd)to m�lte eny payment or lo do any eM ae and in the manner provided in any of the Loan Inetrnments.
<br /> �. .,,, •,.
<br /> 5'ft_s:,� • 1i.�..�7.a�.�.�,i/..7M1._.��.. .�..ti�:�^�....:.1:.�._..rinr urifhn.,►nhliee�inn an t.�ein and�vlthnnt nntirw fn nr dwmwnd uoon
<br /> ?�' � ;, �� � 7lrudtor aad arithouL releuing Tnutor kom eny obligetion,may make ar da tiae eame ia such manner nnd to euch extent
<br /> " . �1 ' � eu eit,�er may d�em nece��ary to protect the security hereof. Trueu�r shal9, immediately upon demand therefor by
<br /> Berufieiaty,pqy all cosb and e:penee�incwred by HeneBciary in connection with the exoroiee by BeneBciary of the
<br /> - ,;,,�1 , •. fore�ofng riaht�,includ{ng without limitation rnsta of evidence to title,co�eri coeta,appreieale,eurveys and attorney'e feea.
<br /> y - � i My suc�i co�t�end ezpe�ue� not paid within trn(10)days of written demand ehall draw interest at the default rate
<br /> � Y . ., , I Pravidd in the Note. ,
<br /> 6. EMINENT DOMAIN. 8hould the Truet�etate,or any part thereof or intereet therein.be taken or damaged by
<br /> . ; r�uon of any public improvement or oondemnation procee�:ng, or in any other menner including deod in lieu of
<br /> • ' � ; � COA�fAp�tI011("Condamnation"),or�hould Ttwtor receive u,y notice or other information regarding euch proceeding.
<br /> I � T�u�tor�}ull Qiv�prompt written notice thereof to Hene6aary, Beneftciary ehall be entitled to a11 wmpeneation,awards .
<br /> (� , � t ' � and oLlur p�ym�ab or twlief therefor.and shall be entitled at ita option to rnmmence,appear in end prosecute in ite own �
<br /> ` �,� <<•'# i tum�u�y�ction or pmceading�. Beneficiery shall aloo 6e mtitl�ed to make any compromiee or eettlement in rnnnectian
<br />. : � � � I with�uch talci»�or dam�e. All euch oompeneation,eward�.damaQee,rights of action and proceede awardcd to Truetor
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