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DEED OF TRUST
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<br />DEED OF TRUST
<br />THIS TRUST DEED made this _61- day of a , 2005, between LARRY E. \
<br />DAVIDSON and MARIA ELENA DAVIDSON, Husband an& Wife, as TRUSTORS, whose
<br />address is 104 Front, Alda, Nebraska; WILLIAM A. FRANCIS, A Member of the Nebraska State
<br />Bar Association, as TRUSTEE, whose address is 222 North Cedar Street, P. O. Box 2280, Grand
<br />Island, Nebraska, 68802; and TERRY D. BUSHHOUSEN and CAROL R. BUSHHOUSEN,
<br />Husband and Wife, all hereinafter collectively referred to as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following- described real property:
<br />Lot Seven (7), Block Twenty (20), Alda Village in Hall County, Nebraska.
<br />together with all buildings, improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that TRUSTORS are lawfully seized and the owners of the above - described property; that they have
<br />good right and lawful authority to sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances, and further, that TRUSTORS will warrant and defend the title
<br />to said premises forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each covenant of this agreement together with a
<br />payment of Fifty -Four Thousand Seven Hundred Dollars ($54,700.00), the TRUSTORS have
<br />executed a Promissory Note 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 and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest shall be paid on or before June 1,
<br />2007. All installment payments hereunder shall be applied first to the payment of interest
<br />computed annually on the unpaid balance, pursuant to an amortization schedule, a copy of which
<br />has been provided to each of the parties hereto, and remainder of each payment of each installment
<br />to be applied to principal. All payments due hereunder shall be paid by mailing them to Home
<br />Federal Savings & Loan, F.O. Box 1009, Grand Island, Nebraska, 68802, to be deposited in
<br />account number 0100560865 owned by the BENEFICIARIES.
<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br />until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise agreed by the
<br />parties in writing.
<br />B. Maintain the building and its improvements and all personal property sold under the parties'
<br />Contract for Sale of Real Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every kind levied or assessed
<br />against or due upon said property before delinquency, and to deliver to BENEFICIARIES
<br />copies of receipts showing payment of such taxes.
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<br />THIS TRUST DEED made this _61- day of a , 2005, between LARRY E. \
<br />DAVIDSON and MARIA ELENA DAVIDSON, Husband an& Wife, as TRUSTORS, whose
<br />address is 104 Front, Alda, Nebraska; WILLIAM A. FRANCIS, A Member of the Nebraska State
<br />Bar Association, as TRUSTEE, whose address is 222 North Cedar Street, P. O. Box 2280, Grand
<br />Island, Nebraska, 68802; and TERRY D. BUSHHOUSEN and CAROL R. BUSHHOUSEN,
<br />Husband and Wife, all hereinafter collectively referred to as BENEFICIARIES.
<br />WITNESSETH:
<br />That TRUSTORS hereby grant, bargain, sell, convey and warrant to TRUSTEE, IN
<br />TRUST, his successors and assigns, with power of sale, the following- described real property:
<br />Lot Seven (7), Block Twenty (20), Alda Village in Hall County, Nebraska.
<br />together with all buildings, improvements and appurtenances thereon.
<br />The TRUSTORS hereby covenant and agree with the TRUSTEE and BENEFICIARIES
<br />that TRUSTORS are lawfully seized and the owners of the above - described property; that they have
<br />good right and lawful authority to sell and convey said premises and that said premises are free and
<br />clear of all liens and encumbrances, and further, that TRUSTORS will warrant and defend the title
<br />to said premises forever against the claims of all persons whomsoever.
<br />For the purpose of securing performance of each covenant of this agreement together with a
<br />payment of Fifty -Four Thousand Seven Hundred Dollars ($54,700.00), the TRUSTORS have
<br />executed a Promissory Note 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 and interest shall be payable in
<br />accordance with and upon the terms and conditions of said Note of even date, and in any event the
<br />entire principal balance due hereunder and any accrued interest shall be paid on or before June 1,
<br />2007. All installment payments hereunder shall be applied first to the payment of interest
<br />computed annually on the unpaid balance, pursuant to an amortization schedule, a copy of which
<br />has been provided to each of the parties hereto, and remainder of each payment of each installment
<br />to be applied to principal. All payments due hereunder shall be paid by mailing them to Home
<br />Federal Savings & Loan, F.O. Box 1009, Grand Island, Nebraska, 68802, to be deposited in
<br />account number 0100560865 owned by the BENEFICIARIES.
<br />It is agreed by and between the parties hereto that while title is vested in the TRUSTEE and
<br />until filing of Notice of Default, the TRUSTORS shall:
<br />A. Retain possession of the property at all times, except as may be otherwise agreed by the
<br />parties in writing.
<br />B. Maintain the building and its improvements and all personal property sold under the parties'
<br />Contract for Sale of Real Estate, in good condition and repair.
<br />C. Pay all general and special taxes and all special assessments of every kind levied or assessed
<br />against or due upon said property before delinquency, and to deliver to BENEFICIARIES
<br />copies of receipts showing payment of such taxes.
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