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<br /> DEED OF TRUST
<br /> KNOW ALL MEN BY THESE PRESENTS: that �gg D. STELK AND WANDA LEE STELK, HUSBAND �
<br /> �1�TILWIEF , hereinafter referred to as the "Trustor", to �
<br /> secure a Note bearing even date here.with for :the princigal amount of FORTY THREE 4
<br /> _�j(1TTCANiI TNRF.F. HTTNnRFn NTNFTY FTVF ANT� 19�100 Dollars ($ 43,395.19 ) payable
<br /> to the order of GRAND ISLAND INVESTMENT COMPANY, hereinafter referred to as the
<br /> "Beneficiary", providing for payment of the entire principal balance, together
<br /> with interest at the rate of TEN & ONE=FOURTH percent ( 10.25 %) per annum,
<br /> in monthly installments of SEVEN HUNDRED SEVENTY FIVE AND NO 100-------
<br /> Dollars ($ 775.00 ) each until 8 11 2002 ,XK9 , at
<br /> which time all principal and interest provided for by this Note shall have been paid,
<br /> do hereby grant and convey until AREND R. BAACK, Attorney at Law, the "Trustee",
<br /> the following-described property:
<br /> Lot Four (4) , in Block Three (3) , in Hann's Second Addition to Grand Island,
<br /> Hall County, Nebraska
<br /> TO HAVE AND TO HOLD tlie 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 record
<br /> in the Register of Deeds' Office of hall County, Nebraska, a Notice of '
<br /> Default, setting forth that a breach of an obligation, for which the said property
<br /> was conveyed as security, has occurrPd, and setting forth the nature of such
<br /> breach and the Trustee's election to sell the property to satisfy the obligation;
<br /> and after the lapse of not less than one (1) month, the Trustee shall give
<br /> written notice of the time and place of sale which may be between 9:00 a.m. and
<br /> 5:00 p.m. at the premises, or at �.he Hall 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 but not
<br /> more than thirty (3�) days prior to the sale; and the Trustee shall then sell said
<br /> property at the time and place designated 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 at3117 Brentwood Dr Grand I�land, PdE Out of tYie
<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 pay second
<br /> E the obligations secured by this Deed of Trust; and the balance, if any, shall be
<br /> paid to the person or persons legally entitled thereto. Any person, including the
<br /> Beneficiary, may purchase said property at such sale.
<br /> The trustor covenants 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 same and all
<br /> amounts so paid shall become additional indebtedness due hereunder; and in case
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