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<br />DEED OF TRUST
<br />(Short Form) 90-- 105599
<br />KNOW ALL MEN BY THESE PRESENTS: that Richard M. Nyce and
<br />Ruth A. Nyce, husband and wife, hereinafter referred to as the
<br />"Trustor ", to secure the obligations of an Agreement for Dissolu-
<br />tion of Partnership in respect to Nyce /281 Associates dated
<br />46f *z 1990 in favor of Douglas A. Nyce, 5457 Twin
<br />Knolls Road, Suite 302, Columbia, MD 21045, hereinafter referred
<br />to as the "Beneficiary ", providing for the assumption and payment
<br />of any remaining indebtedness owing to Mary Jane Stumpff in
<br />respect to a Trust Deed Note in the original principal amount of
<br />One Hundred Forty -Nine Thousand and No /100 Dollars (4149,000.00),
<br />do hereby grant and convey unto AREND R. BAACK, Attorney at Lair,
<br />P. 0. Box 790, Grand Island, NE 68802 -0790, the "Trustee", the
<br />following- described property:
<br />The East Half of the Southeast Quarter
<br />(E }SE}) and the Southeast Quarter of the
<br />Northeast Quarter (SEINED), Section One (1),
<br />Township Nine ( 9 ) North, Range Ten ( 10 ) West
<br />of the 6th P.M., Hall County, Nebraska,
<br />excepting certain tracts of land more parr. ,_• .-u -
<br />larly described in Warranty Deeds recorded in
<br />Book 125, Page 233; Book 156, Page 580;
<br />Book L'17, Page 653; and as Instruirr-mt No. 1A
<br />89- 10`5653;
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<br />TO NAVE AND TO HOLD the same, tt.agether with all appurte-
<br />nances, in trust nevertheless, and in case of default in the
<br />payment of said Mote or any part thereof or interest thereon or
<br />in the performance of any covenant hereinafter set forth, then
<br />the Trustee shall have the power to sell the abovr_�- described
<br />property, and upon request of the Beneficiary, the Trustee shall
<br />file for record in the Register of Deeds' Off ce of Hall County,
<br />Nebraska, a Not-. -.a of Default, setting forth that a breach of an
<br />obligation, for which the said property was conveyed as security,
<br />has occurred, and setting forth the nature of such breach and the
<br />Trustee's election to sell the property to satisfy the
<br />obligation; and after the lapse of not less than one (1) mc- th,
<br />the Trustee shal,Z give written notice of the time ar4d pla. of
<br />sale which may be between 9 :00 a.m. and 5:00 p.rm, at the
<br />premises, or at the Hall County Courthouse, and rpazticularly
<br />describing the property to be sold; said Notice to be published
<br />in a newspaper (zf a general circulation in Hall County, Nebraska, °d r
<br />once a week for five (5) consecutive weeks, the last publication -
<br />to be at least ten (10) days but not -%ore than thirty (30) days
<br />prior to the sale; and the Truster sih:ail then sell said property
<br />at the tiw.*: .:..° place dcaignatcd in t c ..ct:._c, in the manner
<br />provided by laws in effect at the time of f kr i:.ag said Notice, and
<br />public auction to the highest bidder for casts and shall deliver
<br />to such purchaser a deed to the property sold, cc n.!. rstent with
<br />the law in effect at that time. Addition.atly, Trustor hereby
<br />requests that Trustee snail mail Truubui 6 c -VY Of airy NOtILCc Of
<br />Default and Notice of Sale hereunder upon default addressed to
<br />them at Route 1, Doniphan, NE 68832. Out of the proceeds of
<br />said sale, the Trustee shall retain and pay first all fees,
<br />charges and costs of sale and all monies advanced in the exercise
<br />of the power of sale, including the payment of the Trustee's fees
<br />actually incurred, and pay second the obligations secured by this
<br />Deed of Trust; and the balance, if any, shall be paid to the i
<br />person or persons legally entitled thereto. Any person,
<br />including the Beneficiary, may purchase said property at such
<br />sale.
<br />The Trut3tor covenants that at the timv ut' dt• livery c>t thesu
<br />presents, they ait• seized of said pruperty in fee simplo•, and n
<br />that said property is frt.-o of c-ncumbrancvs, 41xrt1pt t,ncumbranc t-n,
<br />casements, rights -of-way, it- strictiuna ,rtrd ivsetv.ttions (d
<br />record, , and they will properly ma i nta i n t 1w Fit upuz #y, ki -vp .c 1I •-
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