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201605695
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201605695
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Last modified
7/3/2017 5:40:43 PM
Creation date
8/31/2016 4:08:16 PM
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DEEDS
Inst Number
201605695
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201605695. <br /> DEED OF TRUST <br /> THIS DEED OF TRUST, is made as of the 1st day of September 2016, by and among: <br /> Five Points Bank, Trustee of the Michael P. Kully Irrevocable Trust, Beneficiary, whose address is PO Box <br /> 1507, Grand Island, Nebraska, 68802. <br /> Five Points Bank, Trustee, whose mailing address is P.O. Box 1507, Grand Island, Nebraska 68802 <br /> Aaron M. Kully*Trustor,whose mailing address is: 1605 Hagge, Grand Island, NE 68801. <br /> *a 'single person <br /> FOR VALUABLE CONSIDERATION, Trustor irrevocably transfers, conveys and assigns to Trustee, IN <br /> TRUST,WITH POWER OF SALE, for the benefit and security of Beneficiary, under and subject to the terms <br /> and conditions of this Deed of Trust, the real property located in 123 North Locust St, Grand Island, Hall <br /> County, Nebraska 68801 Yancey Condominium Unit No. 703, and legally described as follows: <br /> Condominium unit No.703,The Yancey,a condominium,a condominium in accordance with the <br /> declaration recorded on October 17, 1984 under document NO.84-005507 of the county of Hall, State of <br /> Nebraska, records <br /> The property and the entire estate and interest conveyed to the Trustee are referred to collectively as the"Trust <br /> Estate". <br /> SECURITY <br /> A. The principal balance of$43,000.00 (Forty-Three Thousand Dollars)plus interest at the initial rate <br /> of four percent(4.00%)shall be paid in full by September 1, 2026. The interest rate on this Note is <br /> subject to change from time to time based on changes in the New York Prime Rate as set out in the <br /> Wall Street Journal (the"Index") plus one half percent(.50%) If the Index becomes unavailable <br /> during the term of this Note, Lender of this Note may designate a substitute index after notifying <br /> Borrower. Lender of this Note will tell Borrower the current Index rate upon borrower's request. <br /> The Index currently three and one half percent(3.50%) per annum. <br /> B. The performance of each agreement and covenant of Trustor contained herein. <br /> This Deed of Trust, Note, Real Estate Purchase Agreement and any other instrument given to evidence <br /> or further secure the payment and performance of any obligation secured hereby are referred to collectively as <br /> the"Loan Instruments". <br />
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