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ACKNOWLEDGEMENT OF DEED OF TRUST
<br />�OMIOIMMB HEAD TIIIB 111EPo11E $#OWN& 86-.-;106703
<br />Borrowers ((Tri ators) understand that the document that the Borrowers are about to execute is a Wad of Trust and not a mortgage and that the power of 5410
<br />PvovWW for in rte Deed of True Provides w11MaMiNly different rights and obligations X the Borrowers than a mortgage in the event of a default or breach of obligation
<br />uidef the Deed of TrW. including, bed not IWA*d to, the Lender's right to have the float Property sold by the Trustee w' out any judiHal pfoceedinq or foreclosure.
<br />BbnowM► represent and warrant that this acknowledgement wss executed by them before the sr}ecution of the Osed�ol T
<br />(Cla . L. Kauf
<br />( Nancy p� uffman) Burro
<br />DEED OF TRUST WITH FUTURE ADVANCES PROVISION
<br />THIS DEED OF TRUST. is made as of the y9_ day of N NMW1ber . 19 86_ . by and among the Truster,
<br />al3d Nancy A Kauffman r hncchand iana wi fa —whose mailing address Is Rt.. 1, BOX 157 MarCplette NE 68854
<br />(eter«n -Borrower"). the Trust". William G. Blackl»rU,.__�. member of Nei3raska State Bar ASS i a ion
<br />whose trod" address le P.O. Box 2280 Grand Island. NE 68802 (herein "Trustee•')• and the Beneficiary.
<br />FIVE POIIdIiS 5W _` whose malting address is 2015 N _Brpa dal 1 s Grand T _ 7 and r_ NE ftterem "Lender').
<br />FOR VALUABLE CONSIDERATION. including the indebtedness idemified herein and trust herein created, the receipt of which is hereby acknowledged. Borrower
<br />hereby Irrevocably grants. transfers. conveys and assigns to Trustee, INTRUST. WITH POWER OF SALE, for the benefit and security of Lender, under and subject to the
<br />bans and conditions 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 touted thereon or in anywise
<br />pMair ing thereto, and the rents, issues and profits. reversions and remainders thereof: Including, but not limited to luting and cooling equipment and such personal
<br />property that is attechedto the improvements so as to constitutes fixture: and together with the homestead or martial Interests. if any, which interests are hereby released
<br />and werved; all otwhich, including replacements and ad �o!�s �rglj!o. iIKeCepy dect�retLto beapart of one rest estate secured by the lien of this Deed of Trust and all of the
<br />foregoing being referred to herein as the "property - r tll?l� A AtLaC .%
<br />This Deed o1 Trust shelf secure (a) the payment of the principal sum and Interest evidenced by Borrower's note dated 11/19186
<br />having a maturity date of 10/1912001 in the of;gmaf principal amount of $ 1 X000 _ 00 and any and all modifications, extensions and
<br />renewak theroot or thereto and any and all future advances and readvancea hereunder pursuant o one or more promissory notes (herein called "Note-); (0) the palyment of
<br />other *urns advanced by Lendet to protect the security of this Dead of T ust, with interest thereon as provided In the Note: and (c) the performance of all covenants and
<br />agreement of Borrower sat forth herein.
<br />Borrower. to protect the security of this Deed of Trust, covenants and agrees with Lender as follows.
<br />1. P W of Is If MMtemt. Borrower shall promptly pay when due the or mcipal of and Interest On, and any feesor charges provided in. the Noteor in this
<br />Dead of Trust.
<br />2. TIM. Borrower is the owner of the Property. has the right and authority to convey the Property. and warrants that the hen created hereby is a total and prior lien on
<br />the Property, except as may otherwise beset forth on Exhibit A hereto, and the execution and delivery of this Deed of Trust does not violate any contractor other obligation
<br />to which Borrower is Subject.
<br />3. Tame. Aaessomwd . 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 />Lander arch amount as may be sufficient to enable the Lender to pay such taxes. assessments or other charges as they become due .
<br />a, hoolo ass, 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 />colMCl and compromise. a claims thereunder and shall have the option of applying all or part of the insurance proceeds (i) to any Indebtedness secured hereby and in such
<br />order as Lender may detarmine, (ii) to the Borrower to be used for the repair or restoration of the Property or In,) for any other purpose or object satisfactory to Lender
<br />without afheting the lid of this Dead of Trust for the full amount secured hereby before such payment ever took place Any application of proceeds to indebtedness shall
<br />not esNrd or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder
<br />5. YWIYIIMee Apolm std Celll/NMbe with Laws. Borrower shad keep the Property In good condition and repair; shall promptly repair, or replace any
<br />improvement which may be damaged or destroyed; shelf not commit or permit any waste or deterioration of the Property: shall not remove, demolish or substantially after
<br />anyof the improvements on the Property: $hail 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 />sliest payand promptlydischarge at Borrowers cost and expense ail liens, encumbrances and charges levied. imposed or assessed against the Property or any part thereof.
<br />6. Mw nsM DeatrMn. Lender is hereby assigned all compensation. awards, damages and other payments or relief (hereinatter'•Proceeds•'I in connection with
<br />co demmahOR of 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 />therNram a comb and expanses incurred by itin connection with such proceeds.. upon any indebtedness secured hereby and In such aide: as tender may determine. or
<br />aptly all much Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any appilcattcn of Proceeds to
<br />mdebtedren shoo not extend or postpone the due date of any payments under the Note. or cure any default thereunder or hereunder.
<br />7. MwlehMlweeby Leatdar. In the event of Borrower'similure to perform any of the covenants herein or make any payments required hereby, or if any act is taken or
<br />repo proceeding commenced which materially affects Lender's interest in the Properly. Lender may in its own discretion. but without obligation todo so. and without notice
<br />to or demand upon Borrower and without releasing Borrower from any obligation. do any act which the Borrower has agreed but faits to do and may also do any other act it
<br />deems necessary to protect the secunty hereof. Borrower shall. immediately upon demand therefor by Lender. pay to Lender all costs and expenses incurred and sums
<br />eapemded by lender in connection with the exercise by Lender of the foregoing rights. together with interest thereon at the rate provided in the Note. which shall be added to
<br />the indebtedtnse secured hereby- Lender shall not incur any personal lability because of anything It may do or omit to do hereunder.
<br />6. Eveal* of 0*%WL 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 Lender,
<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 Ofoxeculion or attachment or any similar process shah be entered against Borrower which shall become alien 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 future federal. state ar other statute. law or regulation relating to
<br />bankruptcy, insolvency or other relef for debtors. or there shall be appointed any trustee. receiver or hgwdator of Borrower or of all or any part of the Property, or
<br />the fonts. issues of profits thereof, or Borrower shah make any general assignment for the beneht of creditors
<br />(e) The safe, transfer, assignment conveyance or further encumbrance of all or any part of or any Interest in the Property, either voluntarily or
<br />involuntarily, without the express written consent of Lender
<br />(f) if Borrower is not an individual, the sate, transfer, assignment. conveyance or encumbrance of more than __ percent of (if a corporation) Its
<br />issued erid outstanif ft stock or iif a partnership) percent of partnership interests.
<br />9, Mssildhae; Aoo@W tt Up1t DdMllt in the event of any Event of Default Lender may declare all Indebtedness secured hereby to be due and payable and the
<br />sate atkstl tMnupon become due root payable without any presentment, demand. protest or notice of any kind Thereafter Lender may:
<br />(a) Demand that Trustee exercise the POWER OF SALE granted herein. and Trustee shall thereafter cause Borrowers mterestm the Properly to be sold
<br />and the proceeds to be distributed. all in the manner provided in the Nebtaska Trust Weds act;
<br />(b) Eilhen in person or by agent, with or without bringing any action or proceeding. or by a receiver appointed by a court and without regard lot""
<br />adequacy of its security, enter upon and take possession of the Property, or any part thereof, in Its own name or In the name of the Trust . and do any acts which
<br />it daama noceesoy, or desirable to preserve the value, marketability or rentability of the Property or part thereof or Interest therein, increase the income
<br />maroons or protect the security tweet ad. with or without taking possession of the Property. sue lot or otherwise collect the rents. issues and profits thereof.
<br />including them out dire and unpaid. and apply Ina same, IQs$ costs and expenses of operation and collection Including attorneys - fees. upon any indebtedness
<br />socursd hereby, aft in such wdsr as Lander may determine The entering upon and taking possession of the Property ine collection of such rants. Issues and
<br />ufoflteene the avo cation thetsed mstoresait, shelf not cure or waive any detatin or notice of default hereunder or invalidate any act done in response tosucn
<br />default of fa+raWln to rich rot" of default and, notwithstanding the continuance in possession of the Property or the collection, receipt and application or
<br />rents, issues Of profits. Trwtw or Lander shaft the entitied W exercise every right provided to, 11 any ni the Loan lnstr uments of by law upon f..Ut @nl'! 31 any
<br />event of dafaun, including Sere fight to oxarcim the power of sale. and
<br />!c) Corarrcerhza en tichah hi fwee/pse thin Daxht of T« at as a n +engage. apfxo +its a sec @reset. er siaet'Incalsv @nlo: ce any of tree covenants nere=,t
<br />NorefhOtifyho""cpnferrod upon orlowWittoll;st"orLender ts.,,larded to ere exckuliveo1 a^y 011ie, —1dy 1?ere+n 5byIawe-; ovided<,, rim t-od bed aaih shat' tat
<br />Gumufel+va Mwi ea Nf aAdit�n to every €Nhar tamrtdy pWen heresindcu pr new or netrM!Ser cxiat,nA :rt ;awe ? .n @giiih ;" >. Rra!e !@ a ^tl neat' t+e @vf rf,iect c. �'1'h,
<br />:rrdapWk$Wtey et 40444Mwvely
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