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<br /> C013STFcUCTION SECURTTI' AGREEhiENT
<br /> � DEFD OF TRUST
<br /> (Short Form)
<br /> KNOW ALL MEN BY THESE PRESENTS: that Dav9.d J. Wetherilt and
<br /> Susan L. Wetherilt, husband and wife, and Radney W. Crumrine and
<br /> Lisa Crumrine, husband and wife, hereinafter referred to as the
<br /> "Trustor" , to secure a Construction Line of Credit Draw Nate
<br /> bearing even date herewith for the principal amount of One
<br /> Hundred Twenty Thousand and No/100 Dollars ($120,000.00) for the
<br /> purpoae of purchasing and making improvements to the xeal estate
<br /> hereinafter described, payable to the order of CRAND ISLAND
<br /> FTNANCE COMPANY, hereinafter referred to as the "Beneficiary",
<br /> ___ ____ Urovidin� for nayment of the entirP nrinalpal halan�p, t�gPthPr
<br /> with interest at the rate of �en and one-half percent (10.5�) per
<br /> annum, in monthly installments until December 19, 1992, at which
<br /> ' time all prinaipal and interest provided for by this Note shalA
<br /> have been paid, do hereby grant and convey unto AREND R. BAACK,
<br /> Attorney at Law, the "Trustee", the following-described property:
<br /> Lot Four (4), Block Sixty-Four (6�{), Original
<br /> Town of Grand Island, Hall County, Nebraska, �
<br /> TO HAVE AND TO HOLD the same, together with all appurte- � -
<br /> nances, in trust nevertheless, and in ca.se of default in the "
<br /> payment of said Note or any part thereof or interest thereon or � �
<br /> in the perPormance of any covenant hereinafter set forth, then , e�i
<br /> the Trustee shall have the nower to sell the ah�ve-c�PS�rihPC3 � =;��
<br /> , property, and upon request of �he BenePiciary, tihe Trustiee shall ''--�_
<br /> file for record in the Register of Deeds' Office of Hall County, i -
<br /> Nebra.ska, a Notice of Default, setting forth that a breach of an - .
<br /> . obligation, for which the said property taas conveyed as security, �
<br /> has occurred, and setting forth the nature of such breach and the
<br /> ' Trus�ee's election to sell the property to satisfy the obliga- �
<br /> ' tion; and after the lapse of not less than one (1) month, the
<br /> Trustee shall give written notice of the time and place of sale �
<br /> ' which may be between 9:00 a.m. and 5: 00 p.m. at the premises, or r�
<br /> � at the Hall County Courthouse, and particularly describing the
<br /> � property to be sold; said Notice to be published in a newspaper
<br /> of a general circulation in Hall County, Nebraska, once a week
<br /> ; for five (5) consecutive weeks, the last publication to be at �
<br /> least ten (10) days but not more than thirty (30) days prior to ; �
<br /> " the sale; and the Trustee shall then sell said property at the �,��..
<br /> time and place designated in the Notice, in the manner provi�ed ; ""
<br /> by law in effect at the time of filing said Notice, and public ,
<br /> � � auction to �he highest bidder for cash and shall deliver to such .
<br /> � purchaser a deed to the property sold, consistent svith the law in �-
<br /> , ef£ect at that time. Additionally, Trustor hereby requests �hat
<br /> Trustee sha11 mail Trus�or a copy of any Notice of Defaul� and
<br /> : Notice of �a1e hereunder upon default addresse8 ta them at
<br /> 321 West 3rd Street, Grand Island, Nebraska 68801. Out of the
<br /> �� proceeds of said sale, the Trustee sh311 retain and pay first all
<br /> fees, char�es and costs oF sale and all monies advanced in the
<br /> exercise of the power of sale, including the payment of the
<br /> � Trustee's fees actually ir�curred, and pay second the obligatlons
<br /> secured by thls Deed of Trust; and trie balance, if any, shall be
<br /> paid to the person or persons legally entitl�d thereto. Any
<br /> � person, including the Beneficiary, may purchase said property at ; � -�--
<br /> such sale.
<br /> � The Trustor coven�.nts that at the time of delivery of these ' � .
<br /> presents, they are seized of saSd property in fee simple, and
<br /> that said property is free of encumbrances, except es-,cumbrances,
<br /> � easements, rights-of-way, restrictions and reservations of
<br /> record, and the,y will properl,y maintain the property, keep all
<br /> buildin�;s insured for fire and extended coverage in an amount �
<br /> � equal to the unpaid ha].�nce of *he aforesaid ldote, with �OJJ
<br /> payable to the Beneficiar,y, and will Pay all taxes �nd assess-
<br /> ---- ments aaainst said nroperti�� and amounts �ue on Pr�.or encur�- '�
<br /> __ hrancrys, a�n� 9f the,y shall �'a.il to ra� JnSUrance nrem��ims nr }�� �
<br /> t%�xc� nn =ernounr:� �3ue on �ri�ir �ncumt,rances , thP Rene`'lci �rv rr„�v
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