88100775 - Laserfiche WebLink

Browse

TRUST DEED 88- 100775 THIS DEED OF TRUST, l'ladc and entered into this l/'ith day of Flilbruary .19-ss- I by and between Ronald M. Emerv and Darler.e M. EmeJ;")frustor. and First Amer.L!;:m Titl e Tn~l1r"'n,.p r.n . Trustee, Husband and Wife as Joint Tenants and Securitv Pacific Financial Service$Jeneficiary; Inc WITNESSETH: Th:!t the Trustor does by these presents grant. bargain and sell. convey and confirm with Power of Sale unto the Trustee the following described Real Estate including all buildings. improvements. and fixtures of every kind now or hereafter erected or placed on the real estate, situated in Hall County. in the State of Nebraska: Lot 5, Block 10, Gilbert's Addition to the City of Grand Island, Hall County, Nebraska. and possession of said premises is now delivered unto said Trustee: TO HAVE AN 0 TO HOLD the same. with a!l rights. privileges. and appurtenances thereto belonging unto the Trustee, his executors, administrators, heirs. and assigns forever. And the Trustor hereby expressly waives. releases. and relinquishes unto the Trustee all right, title, claim, interest. benefit. and estate \vhatever. in and to the above-described premises and each and every part thereof. which is given by or results from all laws of the State of Nebraska pertaining to the exemption of homestead. And the Trustor covenants with the Trustee that he will forever warrant and defend the title to the same against the lawful claims of all persons whomsoever. IN TRUST HOWEVER. for the following descnbcd purposes: To secure full and prompt performance of all the terms and condi- tions of that o Revolving Loan Agreement of even date herewith (including particularly. but not exclusively. prompt payment of all sums which are or may become payable from lime to time thereunder) and any extensions. renewals. modifications or refinancings thereof. which Revolving Loan Agreement obligates Beneficiary. subject to the conditions stated therein. to advance to Trustor up to $ . plus finance and other charges. (or) Q Note of even date herewith. in the principal sum of U.S. S 6841 65 payable in monthly installments of principal and interest. with the balance of the indebtedness. if not sooner paid. due and payable on FQllruary 22 ' 19-9-J------. I . ~ .: j ~ .' .- r" t~~~ '--_~~c:~ ~I "Ii'~ :~-:l ::~: ....~ ...~ l1:~ 11.':1 .~ i?- It is agreed by and between parties hereto that until filing of Notice of Default. the Trustor shall: ( I ) pay all present and future taxes and assessments. general and special. against said property before the same becomes delinquent or actionable; (2) keep all improve- ments erected on the j,md insured as may be required from time to time by beneficiary against loss by fire and other hazards. casualties and contingencies, in such amounts and for such periods as are reasonable and may be required by beneficiary. and to keep all policies of such insurance in force or etTect upon the property herein described constantly assigned and delivered to beneficiary: (3) pay and comply with all the terms and conditions of any lien, claim or indebtedness that may be senior to or take jJrecedence over this Trust Deed as soon as any such payment on or of such lien. claim or indebtedness shall become due: and upon failure of Trustor to keep any said agreements. beneficiary may pay such tax. pay for such insurance or pay otT such liens or claims or indebtedness as the case may be. and the money so expended. with interest at 9% per annum. shall be secured by this Trust Deed. and the Trustor agrees to repay the same upon demand. and upon failure to do so the balance of the attached note shall become immediately due and payable at the optioll of the beneficiary; (4) specifically confer upon the Trustee the power of sale a_ provided in Nebraska law: (5) retain possession of the premises and collect the rents and revenues therefrom. L Upon payment of all the sums secured by this Trust Deed. the Beneficiary shall request the Trustee to reconvey the property and shall surrender this Trust Deed and all not~s evidencing indebtedness secured by this Trust Deed to the Trustor. Trustee shall reconvey the property without warranty to the person or persons legally entitled thereto; but if default be made in the payment of said note or any part thereof or any of the interest thereon when due or in the faithful performance of any or either of said agreements as aforesaid. then the whole of said note shall become due and be paid as hereinafter provided. and this deed shall remain in force: the Trustee or his attorney may proceed to sell the property in its entirety or in parcels at the option of the Trustee hereinhefore described at public auction, to the highest bidder. for cash. However, the power of sale herein conferred upon the Trustee shall not be exercised until (I) the Trustee shall first file for record. in the office of the register of deeds of each county wherein the trust property or some part or parcel thereof is situated. a notice of default. identifying the Trustee by stating the names of the Trustor and names therein and giving the book and page where the same is recorded. a description of the trust property. and containing a statement that a breach of an obligation for which the trust property was conveyed as security has occurred. and setting forth the nature of such breach and of his election to sell or cause to be sold such property io satisfy the obligation; and (2) after the lapse of not less than one month. the Trustee shall give notice of sale as provided by Nebraska law. Afier notice of default and lapse of not less than one month. the Trustee shall give written notice of the time and place of sale particularly describing the property to he soid by publication of such notice. at least five times. once a week for five consecutive weeks. the last publication to be at least 10 days but not more than 30 days pnor to the sale. In some newspaper having a general circulation in each county 111 which the property to he sold. l'r sOllle parr thereof. IS sItuated, L'pnn such sale, tlie Trustee shall execute and deliver a deed of conveyance of the property sold to the purchaser <lr purchasers thereof and an) statement or recital of fact in such deed in relation [0 the exerci_e of the power of sale and sale of the properl\ descrlhed therem. Includlllg recitals conceming any mailing. I)ersonal delivery and publication of the notice o( default. any malll11g and the puhlic;tllun and pnstlllg of notice of sale. and the conducl of sale; and such ret'ltal shall constitute pflll1a faCie C\IUCnl'e of such cOll1plianC(' and C.1I1Chhi\C c\ldcnce thereof III favor of bona fide purchasers and encllmbrancers for value and WIth,'UI Illltlce The Trustee" deed shall "per~II(' to con\'e\ J'..,.'...'.. ~ l'> {8 ,.... "', h. " lU 1/0-0281 NE Of1IG!~JAL -.J