|
WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, the following- described real property:
<br />Lot Five (5), County Meadows Subdivision, in
<br />the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that REIS CONSTRUCTION, INC. is lawfully seized and the
<br />owner of the above - described property; that it has good right and
<br />lawful authority to sell and convey said premises and that they are
<br />free and clear of all liens and encumbrances except a first
<br />construction lien obtained by TRUSTOR for the construction of a
<br />single family residential structure upon the above - described
<br />premises, and further that TRUSTOR will warrant and defend the
<br />title to the premises forever against the claims of all persons
<br />whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -FIVE THOUSAND
<br />DOLLARS ($25,000.00), the TRUSTOR has executed a Promissory Note
<br />bearing even date, at the rate of interest and on the terms and
<br />conditions as set forth in such Note until paid. The principal sum
<br />and interest shall be payable in accordance with and upon the terms
<br />and conditions of said Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest
<br />shall be paid on September 1, 2003.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />M = \
<br />o v;
<br />O N
<br />CL
<br />=
<br />n v
<br />,�,
<br />r=
<br />-<
<br />A
<br />YI n
<br />D
<br />CA
<br />c:> -
<br />cD -„
<br />O N
<br />Zop
<br />��-.:,
<br />W
<br />fU1
<br />r *� ti
<br />r-
<br />co
<br />o �
<br />V)
<br />r r
<br />v'
<br />W
<br />xf
<br />rn�
<br />a
<br />�' Z
<br />200308861.
<br />DEED OF TRUST
<br />• 5 Q
<br />—W
<br />010
<br />THIS TRUST DEED made
<br />this O day of
<br />2003,
<br />by
<br />REIS CONSTRUCTION, INC.,
<br />of Grand Island, Nebr44ka,
<br />as
<br />TRUSTOR;
<br />WILLIAM A. FRANCIS, A Member of the Nebraska State
<br />Bar Association,
<br />as TRUSTEE, whose address
<br />is 222 N. Cedar Street,
<br />P. O.
<br />Box
<br />2280,
<br />Grand Island, Nebraska
<br />68802; and THE MEADOWS
<br />APARTMENT
<br />HOMES,
<br />L.L.C., A Nebraska Limited
<br />Liability Company,
<br />referred
<br />to as
<br />BENEFICIARY.
<br />WITNESSETH:
<br />That TRUSTOR hereby grants, bargains, sells, conveys and
<br />warrants to TRUSTEE, IN TRUST, his successors and assigns, with
<br />power of sale, the following- described real property:
<br />Lot Five (5), County Meadows Subdivision, in
<br />the City of Grand Island, Hall County,
<br />Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTOR hereby covenants and agrees with the TRUSTEE and
<br />BENEFICIARY that REIS CONSTRUCTION, INC. is lawfully seized and the
<br />owner of the above - described property; that it has good right and
<br />lawful authority to sell and convey said premises and that they are
<br />free and clear of all liens and encumbrances except a first
<br />construction lien obtained by TRUSTOR for the construction of a
<br />single family residential structure upon the above - described
<br />premises, and further that TRUSTOR will warrant and defend the
<br />title to the premises forever against the claims of all persons
<br />whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTOR herein contained and the payment of TWENTY -FIVE THOUSAND
<br />DOLLARS ($25,000.00), the TRUSTOR has executed a Promissory Note
<br />bearing even date, at the rate of interest and on the terms and
<br />conditions as set forth in such Note until paid. The principal sum
<br />and interest shall be payable in accordance with and upon the terms
<br />and conditions of said Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest
<br />shall be paid on September 1, 2003.
<br />It is agreed by and between the parties hereto that while
<br />title is vested in the TRUSTEE and until filing of Notice of
<br />Default, the TRUSTOR shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />B. Maintain the building and its improvements and all personal
<br />property sold under the parties' Contract for Sale of Real
<br />Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments
<br />of every kind levied or assessed against or due upon said
<br />property before delinquency, and to deliver to BENEFICIARY
<br />copies of receipts showing payment of such taxes.
<br />
|