|
.l
<br />1--
<br />d
<br />;V n n
<br />rn z D
<br />c n
<br />Z
<br />Mc, cn
<br />ri en o -a
<br />:+C c v
<br />-�
<br />DEED OF TRUST
<br />O Cn
<br />cn
<br />THIS TRUST DEED made this 30th day of April, 2004, between BRYAN L. FRENCH
<br />and DANA M. FRENCH, husband and wife, as TRUSTORS, whose address is 409 East 5th
<br />Street, Axtell, Nebraska 68924; JOHN M. CUNNINGHAM, a member of the Nebraska
<br />State Bar Association, as TRUSTEE, whose address is 222 N. Cedar St., P.O. Box
<br />2280, Grand Island, Nebraska 68802 -2280; and DOYLE L. WINFREY and VIOLET B.
<br />WINFREY, husband and wife, as joint tenants with right of survivorship, not
<br />tenants in common, whose address is 822 West 5th Street, Grand Island, Nebraska
<br />68801, as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE,
<br />IN TRUST, his successors and assigns, with power of sale, the following- described
<br />real property:
<br />Lot One (1), D & V Subdivision, in the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that they are lawfully seized and the owners of the above - described property;
<br />that they have good right and lawful authority to sell and convey said premises
<br />and that said premises are free and clear of all liens and encumbrances, and
<br />further, that TRUSTORS will warrant and defend the title to said premises forever
<br />against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each agreement of TRUSTORS
<br />herein contained and the payment of TWENTY -EIGHT THOUSAND EIGHT HUNDRED DOLLARS
<br />($28,800.00), the TRUSTORS have executed a Trust Deed Note bearing even date, at
<br />the rate of interest and on the terms and conditions as set forth in such Trust
<br />Deed Note until paid. The principal sum and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Trust Deed Note of even
<br />date, and in any event the entire principal balance due hereunder and any accrued
<br />interest shall be paid on June 1, 2007. All payments due hereunder shall be paid
<br />at the address of the BENEFICIARIES as above described, or at such other place
<br />as such BENEFICIARIES or the holders of said security shall designate in writing.
<br />All installment payments hereunder shall be applied first to the payment of
<br />interest on the unpaid balance, pursuant to the Amortization Schedule, a copy of
<br />which has been provided to each of the parties hereto, and the remainder of each
<br />payment of such installment to be applied on principal.
<br />It is agreed by and between the parties hereto that while title is vested
<br />in the TRUSTEE and until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise
<br />agreed by the parties in writing.
<br />B. Maintain the residence and any other improvements located on the real
<br />property in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every
<br />kind levied or assessed against or due upon said property before
<br />delinquency, and to deliver to BENEFICIARIES copies of receipts showing
<br />payment of such taxes each year.
<br />D. Procure and maintain policies of all -risk insurance on said improvements,
<br />in sums and underwritten by companies acceptable to the BENEFICIARIES, in
<br />an amount at least equal to the property's full insurable value, which
<br />policies shall name the BENEFICIARIES as additional insureds, with the
<br />proceeds payable to the parties as their interests may appear hereunder.
<br />TRUSTORS agree to provide BENEFICIARIES with copies of such policies or
<br />certificates of insurance during the term of this indebtedness, which
<br />policies of insurance may not be cancelled by said carrier without fifteen
<br />(15) days written notice to BENEFICIARIES.
<br />E. In the event the TRUSTORS fail or neglect to pay taxes and procure
<br />casualty insurance, all as above set forth, then BENEFICIARIES may pay
<br />such taxes and procure such insurance, and all sums expended and advanced
<br />by BENEFICIARIES and TRUSTEE in accordance with the provisions contained
<br />herein are secured hereby and, without demand, shall be immediately due
<br />-1-
<br />O M
<br />N
<br />O rn
<br />O CL
<br />O
<br />CJ 2
<br />co B CD
<br />Z
<br />O
<br />
|