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<br />DEED OF. TRUST 89 -10 -ti -se
<br />THIS TRUST DEED made this 3rd day of March, 1989, between
<br />VERLIE G. JOHNSTON and PHIRLEY M. JOHNSTON, husband and wife,
<br />as TRUSTORS, whose address is 1010 West Koenig, Grand Island,
<br />Nebraska 68801; JOHN H. CUNNINGHAM as TRUSTEE; and ROBERT A.
<br />HATTRE and A. THOMAS HATTIE, as tenants in common, whose address
<br />is 4236 Spur Lane, Grand Island, Nebraska 68803, 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, the following- described real property:
<br />The tiaett Fifty -Eight Feet (W581) of Lot.-Seven (7),.. in Block
<br />One Rundred Twenty -Five (125), Koari.g.. & Wi.ebe's Addition t©
<br />the City of Grand,.Island, Hall County -i a araska, also - kn -n -
<br />as 1010 West Kc.4i:ig;�;' viand Island, ._Nebraska+
<br />together with all b %ildings, improvements and-...,.appurtenances
<br />thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and
<br />BENEFICIARY that they are lawfully seized and the owners of the,
<br />above - described property; 'that they have good right and .lawful.
<br />authority to sell and convey said promises 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 TEN THOUSAND FIVE
<br />HUNDRED JWD NO /100THS DOLLARS ($10,500.00), the TRUSTORS have
<br />executed a.. Trust Deed Note bearing 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 in
<br />accordance with and upon the terms and conditions of said_,,t#o. *_e of
<br />even date, and in any event the entire principal balat,ce due
<br />hereunder and any accrued interest shall be paid on t�ruai "Ir 1995..
<br />All installment payments hereunder shall be applied •Mist to he
<br />payment of interest computed monthly on the unpaid principal
<br />balance, pursuant to an amortization schedule, a copy of which has
<br />been provided to each of the parties hereto, and remainder of each
<br />installment to be applied to principal. All payments due
<br />hereunder shall be paid at the residence of the BENEFICIARY as
<br />above - described, or at such other place as such BENEFICIARY or the
<br />holder of said security shall designate 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:
<br />A. Retain, possession of the premises at all times, except as may
<br />be otherwise agreed by the parties 'i•' writing.
<br />B. Maintain t11.e buildings and improvements and all personal.
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />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.
<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 of at least Ten Thousand
<br />Five Hundred Dollars ($10,500.00), which policies shall
<br />name the BENEFICIARY as an additional insured, with the loss
<br />proceeds payable to the parties as their interests may appear
<br />hereunder. TRUSTORS agree to provide BENEFICIARY with copies
<br />of such casualty insurance policy or certificate of insurance
<br />during the term of this indebtedness, which policy of
<br />insurance may not be cancelled by said carrier without fifteen
<br />(15) days written notice to BENEFICIARY.
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