|
n
<br />s
<br />M
<br />Inc Zr
<br />200205029 DEED OF TRUST
<br />rn
<br />0
<br />m
<br />O
<br />cc
<br />n
<br />C
<br />N
<br />co
<br />p�
<br />{
<br />N
<br />O
<br />t
<br />s
<br />�.,
<br />T
<br />C0
<br />=
<br />N
<br />•—
<br />n
<br />s
<br />M
<br />Inc Zr
<br />200205029 DEED OF TRUST
<br />THIS TRUST DEED made this _h- day of May, 2002, between
<br />GALEN E. GERDES and TAMMY GERDES, Husband and Wife, as TRUSTORS,
<br />whose address is 2116 Independence Avenue, Grand Island, Nebraska
<br />68803; WILLIAM A. FRANCIS, A Member of the Nebraska State Bar
<br />Association, as TRUSTEE, whose address is 222 N. Cedar Street, P.O.
<br />Box 2280, Grand Island, Nebraska 68802; and DAVID WETHERILT and
<br />SUSAN WETHERILT, Husband and Wife, of 419 S. Clay Street, Grand
<br />Island, NE 68803, hereinafter collectively referred to as
<br />BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant
<br />to TRUSTEE, IN TRUST, his successors and assigns, with power of
<br />sale, the following- described real property:
<br />Lot Four (4), Block Sixty -Four (64), Original Town, Now
<br />City of Grand Island, Hall County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and
<br />BENEFICIARIES that GALEN E. GERDES and TAMMY GERDES, Husband and
<br />Wife, are lawfully seized and the owners of the above - described
<br />property; that they have good right and lawful authority to sell
<br />and convey said premises and that said premises are free and clear
<br />of all liens and encumbrances, except a first mortgage to EQUITABLE
<br />FEDERAL SAVINGS BANK, and further, that TRUSTORS will warrant and
<br />defend the title to said premises forever against the claims of all
<br />persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTORS herein contained and the payment of a Promissory Note in
<br />the amount of SEVENTY -THREE THOUSAND SEVEN HUNDRED FIFTY DOLLARS
<br />($73,750.00), the TRUSTORS have executed a Promissory Note bearing
<br />even date, at the rate of interest of 7.75% 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 May 1, 2022. All installment payments hereunder
<br />shall be applied first to the payment of interest computed annually
<br />on the unpaid balance, pursuant to an amortization schedule, a copy
<br />of which has been provided to each of the parties hereto, and
<br />remainder of each payment of each installment to be applied to
<br />principal. All payments due hereunder shall be paid at the
<br />residence of the BENEFICIARIES or the holder of said security shall
<br />designate in writing.
<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 TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />c
<br />rn
<br />0
<br />Co in
<br />O
<br />cc
<br />N
<br />N
<br />co
<br />{
<br />o
<br />O
<br />®,
<br />T
<br />C0
<br />=
<br />N
<br />•—
<br />d
<br />C=
<br />M
<br />rPK
<br />C17
<br />CIO
<br />o
<br />N
<br />C^3
<br />f»
<br />4p
<br />C&
<br />,
<br />THIS TRUST DEED made this _h- day of May, 2002, between
<br />GALEN E. GERDES and TAMMY GERDES, Husband and Wife, as TRUSTORS,
<br />whose address is 2116 Independence Avenue, Grand Island, Nebraska
<br />68803; WILLIAM A. FRANCIS, A Member of the Nebraska State Bar
<br />Association, as TRUSTEE, whose address is 222 N. Cedar Street, P.O.
<br />Box 2280, Grand Island, Nebraska 68802; and DAVID WETHERILT and
<br />SUSAN WETHERILT, Husband and Wife, of 419 S. Clay Street, Grand
<br />Island, NE 68803, hereinafter collectively referred to as
<br />BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant
<br />to TRUSTEE, IN TRUST, his successors and assigns, with power of
<br />sale, the following- described real property:
<br />Lot Four (4), Block Sixty -Four (64), Original Town, Now
<br />City of Grand Island, Hall County, Nebraska,
<br />together with all buildings, improvements and appurtenances
<br />thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and
<br />BENEFICIARIES that GALEN E. GERDES and TAMMY GERDES, Husband and
<br />Wife, are lawfully seized and the owners of the above - described
<br />property; that they have good right and lawful authority to sell
<br />and convey said premises and that said premises are free and clear
<br />of all liens and encumbrances, except a first mortgage to EQUITABLE
<br />FEDERAL SAVINGS BANK, and further, that TRUSTORS will warrant and
<br />defend the title to said premises forever against the claims of all
<br />persons whomsoever.
<br />For the purpose of securing performance of each agreement of
<br />TRUSTORS herein contained and the payment of a Promissory Note in
<br />the amount of SEVENTY -THREE THOUSAND SEVEN HUNDRED FIFTY DOLLARS
<br />($73,750.00), the TRUSTORS have executed a Promissory Note bearing
<br />even date, at the rate of interest of 7.75% 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 May 1, 2022. All installment payments hereunder
<br />shall be applied first to the payment of interest computed annually
<br />on the unpaid balance, pursuant to an amortization schedule, a copy
<br />of which has been provided to each of the parties hereto, and
<br />remainder of each payment of each installment to be applied to
<br />principal. All payments due hereunder shall be paid at the
<br />residence of the BENEFICIARIES or the holder of said security shall
<br />designate in writing.
<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 TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may
<br />be otherwise agreed by the parties in writing.
<br />c
<br />
|