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<br />DEED OF TRUST
<br />(Short Form) -402423
<br />KNOW ALL MEN BY THESE PRESENTS: that Donald E. Terry and Nadind A. Terry.
<br />Husband and Wife , hereinafter referred to as the "Trustor ", to
<br />secure a Note bearing even date herewith for the principal amount of Eighty three .
<br />thousand five hundred'eijthty nine and 65 /100 - - -- Dollars ($$3:589._ --) payable
<br />to the order of GRAND ISLAND INVESTMENT COMM, hereinafter referred to as the
<br />"Beneficiary ", providing for payment of the entire principal balance, together
<br />with interest at the rate of Eleven" ercent. 11.9 %) per annum,
<br />in aonthly installaents of Seven hundred ninety six anal. -047 100------------
<br />Dollars ($ 6-0 ). each until. April 17
<br />1991
<br />- whielr #-e! and - #et�esl- pvevAded -few y- s- lie -sl a -2-1- have- been- Paid,r
<br />-'d& hereby grant and convey until AREla R. BAACK, Attorney at Law, the "Trustee
<br />� .the following- described property:
<br />*'. "et that time a balloon• :`payment of $83,554; 74: will .he due.
<br />SEE EXAMIT"X ATTAdED
<br />TO HAVE AND TO OLD the same, 6Ggether with all appurtenances, in trust
<br />nevertheless, and in mse of default in the payment of said Note or any part
<br />thereof or interest thereon ar in the performance of any covenant hereinafter
<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 Reeds' Office of BALL County, Nebraska, a 1%16tice of
<br />Default, setting forth that a breach of an obligation, for which the sali: property
<br />was conveygd as security, has occurred, and'setting forth the nature of such
<br />breach and the Trustee's electioa to sell the property to satisfy the obligation;
<br />and after the lapse aff act 1_ers the one (1) month, the Trustee shall gi ,,„ *e
<br />written notice of the time sad. place of- sale which may be between 9:00 and
<br />5:00 p.m. at the premises, or at the BALL County Courthouse, and particularly
<br />describing the property to be .sold; said Notice to be published in a newspaper of
<br />a general circulation in HALL County, Nebraska, once a week for_five (5)
<br />consecutive weeks, the last publication: to be at least ten (10) days bu.t not
<br />more than thirty (30) days prior to t4e.- sale; and the Trustee shall thus sell said
<br />property at the time and place desigcsted in the Notice, in the manner provided
<br />by law in effect at the time of filing said Notice, and public auction to the
<br />highest bidder for cash and shall deliver to such purchases a deed to the property
<br />sold, consistent with the law in effect at that time. 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 1409 W STOLLEY PARK RD, G I 112E . 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 pa, second
<br />the obligations secured by this Deed of Trust; and the balance, if any, shall be
<br />paid,to ths- person or persons legally entitled thereto. Any person, including the
<br />Benefteiar7i, may purchase said property at such sale.
<br />The trustor covinauts that at the time of delivery of these presents,
<br />they are 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 Note, 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 came and all
<br />amounts so 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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