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<br />88- 100861
<br />
<br />NEBRASKA DEED OF TRUST
<br />(With Power of Sale)
<br />
<br />Amount of First Instalment $ 196.97
<br />Total of Payments $ 6893.95
<br />Number of Monthly Instalments 35
<br />
<br />Amount of Other Instalments $ 196. 9 7
<br />First Instalment Due Date Mil rc:h?4 , 19J3B
<br />Final Instalment Due Date ,JantJilry ?4, 19.9.1.
<br />
<br />THIS DEED OF TRUST, made this ~ day of
<br />between Gary G. MQfgan and Debra J. Morgiln. Huc;hand ilncl
<br />whose mailing address is 2915 H. 17th Grand I s I and, NE 6RRO:l
<br />as Trustors, John Cunn i ngham
<br />whose,.mailing address is 222 N. Cedar Grand I s I and, NE 68801
<br />as Trustee, and Norwest Financial Nebraska, Inc., whose mailing address is 2337 N. Wphh Rcl
<br />P.O. Box 1373 Grand I s I and, NE 68802 . as Beneficiary,
<br />
<br />WITNESSETH, Trustors hereby irrevocably, gr.ant, bargain, sell, and convey to Trustee in trust, with power of sale, the following de-
<br />scribed property in Ha II County, Nebraska:
<br />
<br />~phrllilry
<br />Wifp
<br />
<br />19....8a-,
<br />
<br />Lot 2 in Block 4 in Hesterhoffls Second Subdivision, being a re-subdivision of the
<br />South ~ of Block 3 and 4 and the North ~ of Block 5 and 6,Westerhoff's 1st Subdivision,
<br />City of Grand Island, Hall County, Nebraska.
<br />
<br />Together with tenements, hereditaments, and appurtenances thereunto belonging or in anywise appertaining and the rents, issues and
<br />profits thereof.
<br />
<br />This conveyance is intended for the purpose of securing the payment to Beneficiary of Trustors' promissory note of even date in the
<br />amount stated above as "Total of Payments", Said "Total of Payments" is repayable in the number of monthly instalments stated above.
<br />The amount of the instalment payments due on said loan is stated above. The first and final instalment due dates on said loan are staled
<br />above. Payment may be made in advance in any amount at any time. Default in making any payment shall, at the Beneficiary's option
<br />and without notice or demand, render the entire unpaid balance of said loan at once due and payable, less any required rebate of charges.
<br />
<br />To protect the securi ty of this Deed of Trust, Trustor covenants and agrees:
<br />
<br />1. To keep the property in good condition ar,d repair; to pennil no waste thereof; to complete any building, structure or improvement
<br />being built or about to be built thereon; to restore promptly any building, structure or improvement thereon which may be damaged or
<br />destroyed; and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions a!Tecling the property.
<br />
<br />2. To pay before delinquent all lawful taxes and assessments upon the property; to keep the property free and clear of all other charges,
<br />liens or encumbrances impairing the security of this Deed of Trust.
<br />
<br />3. To keep all buildings now or hereafter erected on the property described herein continuously insured against loss by fire or other
<br />hazards in an amount not less than the total debt secured by this Deed of Trust. All policies shall be held by the Beneficiary, and be
<br />in such companies as the Beneficiary may approve and have loss payable first to the Beneficiary as its interest may appear and then
<br />to the Trustor. The amount collected under any insurance policy may be applied upon any indebtedness hereby secured in such order as
<br />the Beneficiary shall determine. Such application by the Beneficiary shall not cause discontinuance of any proceedings 10 foreclose this
<br />Deed of Trust or cure or waive any default or notice of default or invalidate any act done pursuant to such notice. In the event of foreclosure,
<br />ail rights of the Trustor in insurance policies then in force shall pass to the purchaser at the foreclosure sale.
<br />
<br />4. To obtain the written consent of Beneficiary before selling, conveying or otherwise transferring the property or any part thereof and
<br />any such sale, conveyance or toansfer without the Beneficiary's written consent shall constitute a default under the terms hereof.
<br />
<br />5. To defend any action or proceeding purporting to a!Tect the security hereof or the rights or powers of Beneficiary or Trustee.
<br />
<br />6. Should Trustor fail to pay when due any taxes, assessments, il1surance premiums, liens, encumbrances or other charges against the
<br />property hereinabove described, Beneficiary may pay the same, and the amount so paid. with interesl at the rate set forth in the note
<br />secured hereby, shall be added to and become a part of the debt secured in this Deed of Trust as permItted by law.
<br />
<br />IT IS MUTUALLY AGREED THAT:
<br />
<br />1. In the event any portion of the property is taken or damaged in an eminent domain proceeding, the entire amounl of the award
<br />or such portion thereof as may be necessary to fully satisfy Ihe obligation secured hereby, shall be paid to Beneficiary to be applied to
<br />said obligation.
<br />
<br />2. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive its right to requIre prompt payment
<br />....hen due of all other sums so secured or to declare default for failure to so pay.
<br />
<br />3. The Trustee shall reconvey all or any part of the property covered by th,s Deed of Trust to the person entitled thereto, on written
<br />request of the Trustor and the Beneficiary, or upon satisfaction of the obligatIOn secured and written request for reconveyance made by
<br />the Beneficiary or the person entitled thereto
<br />
<br />991 084 (NE)
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