|
200002574
<br />KNOW ALL MEN BY THESE PRESENTS: that Duane D. Stout and Michelle D. Stout, lusbare and
<br />hereinafter referred to as "Trustor ", to secure a note of even date herewith for the principal wife
<br />amount of Sixty Four Thousand Five Hundred Dollars ($64,500.00) payable to the order of
<br />George A. DeMary, whose address is RR4 Box 34, Grand Island, Nebraska, 68801 hereinafter
<br />referred to as "Beneficiary" , providing for payment of the entire principal balance, together with
<br />interest at the rate of eight percent (8 %) per annum, all in accordance with a Deed of Trust Note
<br />executed on March 31, 2000, do hereby grant and convey unto John B. McDermott, attorney at
<br />law, the "Trustee ", the following described property:
<br />Lot 6, Block 4 in Rollin's Addition to the City of Grand Island, Hall County, Nebraska.
<br />TO HAVE AND TO HOLD the same, together with all appurtenances, in trust
<br />nevertheless, and in case of default in the payment of said Note or any part thereof or interest
<br />thereon or in the performance of any covenant hereinafter set forth, then the Trustee shall have
<br />the power to sell the above - described property, and upon request of the Beneficiary, the Trustee
<br />shall file for record in the Register of Deed's Office of Hall county, Nebraska, a Notice of Default,
<br />setting forth that a breach of an obligation for which the said property was conveyed as security
<br />has occurred, and setting forth the nature of such breach and the Trustee's election to sell less
<br />that one (1) month, the Trustee shall give written notice of the time and place of sale which may
<br />be between 9:00 a.m. and 5:00 p.m. at the premises, or at the Hall County Courthouse, and
<br />particularly describing the property to be sold, said Notice to published in a newspaper of a
<br />general circulation in Hall County, Nebraska, once a week for five (5) consecutive weeks, the last
<br />publication to be at least ten (10) days but not more that thirty (30) days prior to the sale; and
<br />the Trustee shall then sell said property at the time and place designated in this Notice, in the
<br />manner provided by law in effect at the time of filing said notice, at public auction to the highest
<br />bidder for cash, and shall deliver to such purchaser a deed to the property sold consistent with
<br />the law in effect at that time. Additionally, Trustor hereby requests that Trustee shall mail
<br />Trustor a copy of any Notice of Default and Notice of Sale hereunder upon default addressed to
<br />them at 924 West 6th Street, Grand Island, Nebraska, 68801. Out of the proceeds of said sale,
<br />the Trustee shall retain and pay first all fees, charges, and costs of sale, and all monies advanced
<br />in the exercise of the power of sale, including payment of the Trustee's fees actually incurred,
<br />and pay second the obligations secured by this Deed Of Trust; and the balance, if any, shall be
<br />paid to the person or persons legally entitled thereto. Any person, including the Beneficiary, may
<br />purchase said property at such sale.
<br />The Trustor covenants that at the time of delivery of these presents, they are seized of
<br />said property in fee simple, and that said property if free of encumbrances, except
<br />encumbrances, easements, right-of -ways, restrictions and reservations of record, and they will
<br />properly maintain the property, keep all buildings insured for fire and extended coverage in an
<br />amount equal to the Beneficiary, and will pay all taxes and assessments against said property
<br />and amounts due on prior encumbrances, and if they shall fail to pay insurance or taxes on
<br />amounts due on prior encumbrances, the beneficiary may pay the same, and all amounts so case
<br />of foreclosure or other proceedings to which the Trustor shall be a party, Trustor will pay any
<br />
|