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<br />90 '164912
<br />DEED OF TRUST
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<br />Tabs TRUST DEED made, this ay of , 19.90,
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<br />between SALVADOR HERNANDB.an. GEN VEVA H I N D Z, us and'. and
<br />wife, as TRUSTORS, whose address (is 313 East 9th Street, :;Grand e
<br />islands' HE '68801; JOHN N. .CUNNINGRAM# Attorney, . As TRUSTEE,
<br />whose address is 222 North Cedar Street, .P. O.. Box 2280, Grand
<br />Island, Nebraska -- 68802; and MELVIN F..OBST, LOUISE RUSCHMANN;
<br />ARNOLD,'ODST, NORMA COURTNEY, •and:HELEN REWINKEL, as tenants in
<br />- - --common, whose addrress is in care of Melvin. F.. Obst, P. 0. Box 19,
<br />.Phillips, NO 68865, as BENEFICIARIES.
<br />S
<br />WITNESSLTH:
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<br />That TRUSTORS hereby grant, bargain, sell, convey and
<br />warrant to TRUSTEE, IN TRUST, 'his successors or assigns; 'with
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<br />power of sale, the following- described real property:
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<br />Lot'Two (2), in Block One Hundred Thirty -Four (134), in
<br />Union Pacific Railroad Company's Addition 'to the City of
<br />Grand Island, Hall County, Nebraska,
<br />together with all improvements 'and appurtenances thereon.
<br />The TRUSTORS hereby'covenant and agree with the TRUSTEE and
<br />BENEFICIARIES that they are lawfully seized and,the owners of the
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<br />above- described property; that they have good right and lawful
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<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.
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<br />For the purpose of securing performance of each agreement of
<br />TRUSTORS herein contained and the payment of SIXTEEN THOUSAND
<br />FIVE HUNDRED DOLLARS ($16,500), the TRUSTORS have executed a
<br />Trust Deed Note bearing even date, at the rate of interest and on
<br />the terms and conditions as set forth in such Trust Deed Note
<br />until paid. The sum and interest shall be payable in
<br />,principal.
<br />accordance with and upon the terries and conditions of said Trust
<br />Deed Note of even date, and in any event the entire principal
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<br />balance due hereunder and -tny accrued interest shall be paid on
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<br />September 1, 2000. All installment payments hereunder shall be
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<br />Applied first to the payment of interest computed monthly on the
<br />unpaid principal, balance, pursuant to amortization schedules,
<br />copies of which have been provided to the parties Hereto, and
<br />remainder of each installment to be applied to principal. All
<br />payments due hereunder shall be paid at the address of the
<br />BENEFICIARIES as above- described, or at such other place as such
<br />BENEFICIARIES or the holders of said security shall designate in
<br />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 TRUSTOkS.shall:
<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 building and any and all improvements thereon.
<br />C. Pay all general and special taxes and all special assessments '
<br />of every kind levied or. assessed against or due upon said
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<br />E►it OF2 t jj before delinquency, and to deliver to. D�a IC'Ani S
<br />copies of receipts showing payment of such taxes each year.
<br />Limprovements,
<br />D. Procure and maj ntai w policies of all -risk insurance on said
<br />in sums and underwritten.by companies Ficceptable
<br />to the " BENEFICIAItIFS, *re an amount at least equal to the'
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<br />property's full insurable value but never les6_than the.amotint.
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<br />(hie under the parties' Trust Deed Note, which pal i cips shat ]
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<br />ti-ame the. AENI.TlClARIFtS as additional .insureds, with the loss
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<br />proceeds payaldr- to the 1farties as their interests mi-ly appear
<br />hr- reunder. TKISTOT4.1; ingree to provi(le DENEE:ICIAPIf. ; wits,
<br />coll-t es of s:tac•h caf -teal t y i nstar<7e ce pol V-y or certificate. of
<br />i i,s.trrance curt- i tiq the tern, of this isidebt E- dness, wi;Y rh pnj ) ry
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