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t KNOW ALL MEN BY THESE PRESENTS; that Mark D. Stelk and Wanda L. Stelk, husband
<br />and iiife , hereinafter referred to as the "Trustar ",, to
<br />secure a Note bearing even date herewith for.the.principal amount of- Ei ht thousand
<br />and no/100 -------- -- --- ----- ---------- - -- --- Dollars ($_8,000-00 ) payable
<br />to the order of GRAND ISLAND INVESTMBNT CCHPANY,.l;erelnafter referred to as.the
<br />"Beneficiary ", providing for payment of the entire-principal balance,.together
<br />with interest at the rate of Twelve--- pgihent ( 12.0 %) per annum,,
<br />in monthly installments of One hundrq3 seventy seven and 95/ T66=- --,''„ - - --
<br />Dollars ($ 177.95 )each until March 1 19_, at
<br />which time all principal and interest provided for by this Note shalt.-have been paid,
<br />do hereby grant and convey until ARENT R..;, RUCK, Attorney at Law, the "Trust",
<br />the following- described property:
<br />Lot Alsrk . 13, Bonnie Brae Add t m�-- _a the: Gity of Grand Island,
<br />;' • ''s ,
<br />` Hall County,. NebrdS4a
<br />TO RAVE AND.TO $OLD the same, together with',a1:T appurtenances;.'in trust
<br />nevertheless, and in caste of default in the.-payment of said Note or any part
<br />thereof or interest thereon or in the perfrsxmance..of any covenant hereinafter
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<br />set forth, then. the Trustee shall have the power to sell the above - described
<br />property, and upon request of the Beneficiary, the Trustee shall file for record
<br />in the Register of Deeds' Office of Hall County, Nebraska, a Notice of
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<br />Default, setting forth that a breach of an obligation, for which the said property
<br />was conveyed as security, has occurred, and setting forth the nature of such
<br />breach and the Trustee's election to sell the property to satisfy the obligation;
<br />and after the Lapse of not less than one (1) month, the Trustee shall give
<br />" written notice of the time and place of sale which may be between 9:00 a.m. and
<br />3:00 p.m,,.at the premisea; or at the Hall County Courthouse, and particularly
<br />describing 44e property to be sold; said Notice to be published in a newspaper of
<br />a general;.direA ation in Hall County, Nebraska, once a week for five (3)
<br />consecu4iauik ux lw, the last publication to be at least ten (10) days but not
<br />more th w,.,t lrty (30) days prior to the sale; and the Trustee shall then sell said
<br />prope�v'y.at the time and place designated in the Notice, in the manner provided
<br />bl, Lw, In effect at the time of fWag said Notice,. and public auction to the
<br />ligherE- 61dder.for cash and shall deliver to such purchases a deed to the property
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<br />sold,.cuasisterr with the law in effect at that titre. Additionally, Trustee shall
<br />mail Trustor a copy of any Notice of Default and Notice of sale hereunder
<br />upon default addressed to them at 2021 N Sherman, Grand Island,NE . Out of the
<br />proceeds of said sale, the Trustee shall retain and pay first all fees, charges
<br />and costs of sale and all monies advanced in the exercise of the power of sale,
<br />including the payment of the Trustee's fees actually incurred, and pay second
<br />the obligations secured by this Deed of Trus3t ;'and the balance, if any, shall be
<br />Paid to the person or persons legally entitled thereto. Any person, including the
<br />Beneficiary, may purchase said property at such sale.
<br />The trustor covenants that at the time of delivery of these presents,
<br />they arte,,seized of said property in fee simple, and that said property is free
<br />of encumbrances, except encumbrances, easements, rights -of -way, restrictions and
<br />reservations of record, and they will properly maintain the property, keep all
<br />buildings insured for fire and extended coverage in an amount equal to the _
<br />unpaid balance of the aforesaid .Tote, with loss payable to the Beneficiary, and
<br />Will pay all taxes and assessments against said property and amounts due on prior
<br />encumbrances, and if they shall fail to pay insurance premiums or taxes on
<br />amounts due on prior encumbrances, the Beneficiary may pay the same and all
<br />awrOwits sc, paid shall become additional indebtedness due hereunder; and in case
<br />of foreclosure, Trustor will pay any reasonable attorney fees incurred by
<br />Beneficiary or Trustee in such foreclosure- proceedings.
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