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<br />89._.140565
<br />DEED OF TRUST
<br />fTHIS TRUST DEBT,) made this & / -4—'0' day of January, 19891
<br />between MELVIN W. WILLI&MS and PAT D. WILLIAMS, husband and
<br />wife, as TRUSTORS, whose address is Bison Meadows, P. 0. Box 128,
<br />Doniphan, NE 68832; E. J. CUNNINGHAM, JR. as TRUSTEE, whose
<br />address is 222 North Cedar Street, P. 0. Box 2280, Grand Island,.
<br />NE 68802; and LAWRENCE E. JABLONSKI and FLORENCE M. JABLONSKI,
<br />husband and wife, as joint tenants not tenants in common, whose
<br />address is 321 Taylor Park Drive, Lincoln, NE 68510 as
<br />BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and
<br />warrant to TRUSTEE 'IN TRUST, his successors or assigns, with
<br />power of sale, th4 following- described real property:
<br />Lot One (1.)d Block one Hundred Fifteen (115), Railroad
<br />Addition to the City of Grand Island, Hall County,
<br />i�iei[ii nSi►a, ;.
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<br />together with all buildings, fixtures, improvements, appoxrtenances
<br />and furnishings thereon,. together with the personal property.
<br />described in the Purchase Agreement dated January 12, 1989, and
<br />Counter Offer to Purchase Agreement dated January 13, 1989,.
<br />between the TRUSTORS axtd-BENEFICIARX. !
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and
<br />BENEFICIARY that thaer are lawfully seized and the owners of the
<br />above.- described pro erty. -._ that they have good right and lawful
<br />authority to sell and convey said premises and that said premises — --
<br />are free and clear of all liens and encumbrances and further, that
<br />TRUSTORS will warrant and defend the title to said premises
<br />forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTORS herein contained and the payment'of FORTY -FOUR THOUSAND
<br />SEVEN HUNDRED FIFTY DOLLARS .;(•$44,750), the TRUSTORS have
<br />executed a Trust Deed Note bear.i0j. even date, at the rate of
<br />interest and on the terms and conditions as set forth in such Note
<br />until paid. The principal sum and interest shall be payable .iit
<br />accordance with and upon the terms. and conditions of said Note of
<br />even date, and in. any event the entire principal balance ,due
<br />hereunder and any accrued interest shall be paid: on February 1,
<br />1999. All installment payments hereunder shall be applied first
<br />to the payment of interest computed monthly on the unpaid
<br />principal balance, pursuant to amortization schedules, copies of
<br />which have been provided to the parties hereto, -and remainder of
<br />each installment to be applied. to principal. All payments .due
<br />hereunder shall be. paid at ihe,'residence of the BENEFICIARY as
<br />above- described, or at such oEft i place as such BENEFICIARY or the
<br />holder of said security shall'' . i.gnate in writing.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in:..the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTORS shall t'
<br />A. Retain possession of the premises at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the buildings and improvements and all personal
<br />property sold under the - parties' Installment Sale Contract, in
<br />good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />L of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said
<br />improvements, in sums and underwritten by companies acceptable
<br />to the BENEFICIARY, in an amount at least equal to the
<br />property's full insurable value but never less than the amount
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