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<br />DEED
<br />OF TRUST
<br />KNOW ALL MEN BY THESE PRESENTS: that KENNETH D. LEETCH & MARY J.
<br />LEETCH, HUSBAND AND WIFE , hereinafter referred to as the
<br />"Trustor ", to secure a Note bearing even date herewith for the principal
<br />amount of FIFTEEN THOUSAND ONE HUNDRED FORTY FIVE AND 50/100 Dollars
<br />($ 15.145.5o_) payable to the order of GRAND ISLAND INVESTMENT COMPANY,
<br />hereinafter referred to as the "Beneficiary ", providing for payment of the
<br />entire principal balance, together with interest at the rate of --- TEN - --
<br />-------------- percent ( 10.0 %) per annum, in monthly installments of
<br />TWO HUNDRED FIFTY ONE AND 43/100 Dollars ($ 251.43 )
<br />each until DECEMBER 21 , 20 07 , at which time all principal and
<br />interest provided for by this Note shall have been paid, do hereby grant and
<br />convey unto AREND R. BAACK, Attorney at Law, the "Trustee ", the following -
<br />described property:
<br />Lot Four (4), Block Six (6), in Russel Wheeler's Addition to the city of
<br />Grand Island, Hall County, Nebraska
<br />TO HAVE AND TO HOLD the same, together with all appurtenances, in trust
<br />nevertheless, and in case of default in the payment of said Note or any part
<br />thereof or interest thereon or 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
<br />record in the Register of Deeds' Office of BALL County, Nebraska,
<br />a Notice of Default, setting forth that a breach of an obligation, for which
<br />the said property was conveyed as security, has occurred, and setting forth
<br />the nature of such breach and the Trustee's election to sell the property
<br />to satisfy the obligation; and after the lapse of not less than one (1)
<br />month, the 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 at the
<br />County Courthouse, and particularly describing the property to
<br />e sold; said Notice to be published in a newspaper of a general circulation
<br />in HALL County, Nebraska, once a week for five (5) consecutive weeks,
<br />the last publication to be at least ten (10) days but not more than thirty
<br />(30) days prior to the sale; and the Trustee shall then sell said property
<br />at the time and place designated in the Notice, ir. the manner provided by
<br />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 purchaser a deed fo the
<br />property sold, consistent with the law in effect at that time. Additionally,
<br />Trustee shall mail Trustor a copy of any Notice of Default and Notice of sale
<br />hereunder upon default addressed to them at 4729 CALVIN DR, GRAND ISLAND,NE
<br />Out of the proceeds of said sale, the Trustee shall retain and pay first all
<br />fees, charges and costs of sale and all monies advanced in the exercise of
<br />the power of sale, including the payment of the Trustee's fees actually
<br />incurred, and pay second the obligations secured by this Deed of Trust; and
<br />the balance, if any, shall be paid to the person or persons legally entitled
<br />thereto. Any person, including the Beneficiary, may purchase said property
<br />at such sale.
<br />The trustor convenants that at the time of delivery of these presents, they
<br />are seized of said property in fee simple, and than said property is free
<br />of encumbrances, except encumbrances, easements, rights -of -way, restrictions
<br />and reservations of record, and they will properly maintain the property,
<br />keep all buildings insured for fire and extended coverage in an amount equal
<br />to the unpaid balance of the aforesaid Note, with loss payable to the
<br />Beneficiary, and will pay all taxes and assessments against said property
<br />and amounts due on prior_ encumbrances, and if they shall fail to pay
<br />insurance premiums or taxes on amounts due on prior encumbrances, the
<br />Beneficiary may pay the same and all amounts so paid shall become additional
<br />indebtedness due hereunder; and in case of foreclosure, Trustor will pay any
<br />reasonable attorney fees incurred by Beneficiary or Trustee in such
<br />foreclosure proceedings.
<br />W
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