88101108 - Laserfiche WebLink

Browse

l' r~ ~ I ~. u ~I r; ! I r TRUST DEED 88- 101108 THIS DEED OF TRUST. made and entered into this 3rd day of Har~h . I 9 ..l18..- by and betweenLy Ie K. Hunkins and Dianne E. Hunk;i.rlFtustor. and First American Title Insurance Co" Trustee. Husband and Wife and Security Pacific Financial Services Inc. Beneficiary; WITNESSETH; That the Trustor does by these presents grant. bargain and sell. convey and confiml 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 H<..ll County. in the State of Nebraska: Lot 5 in Block 46 in Russel h~eeler's Addition to the City of Grand Island, Hall County, Nebraska. and possession of said premises is now delivered unto said Trustee: TO HAVE AND TO HOLD the same. with all 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 whatever. 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 described purposes: To secure full and prompt perlormance of all the terms and condi- tions of that o Revolving Loan Agreemrnt of e\'en date herewith (including particularly. but not exclusively. prompt payment of all sums which are or may become payable from time 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) [;l Note of even date herewith. in the principal sum of U.S. S 4534 05 payable in monthly installments of principal and interest. with the balance of the indebtedness. if not sooner paid. due and payable on September 8 . 19-9..(L. It is agreed by and betwccn parties hcreto that until filing of Notice of Default. thc Trustor shall: ( I ) pay all present and future taxes and assessments. general and spccial. against said property before the same becomes delinquent or actiOl:able: t 2) keep all improve- ments erected (\n thc land insurcd as may be required from time to timc by beneficiary against loss by tire and other hazards. casualties and contingencie~. in such amounts and lor such periods as are reasonable and may be required by beneficiary. and to kcep all policies of such insumnce in foree or elTect upon the property herein described constantly assigned and delivered to beneficiary; (.1) pay and comply with all the terms and conditions of any lien. claim or indebtedness that may be senior to or take precedence 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, beneliciary may pay such tax. pay for such insurance or pay on' such liens or claims or indebtcdness 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 Trus:or 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 option of the beneliciary: (4) specilically confer upon the Trustee the powcr of sale as 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 Decd. the Beneliciary shall request the Trustee to reconvey the property and shall surrender this Trust Deed and all notes evidencing indebtedness socured by this Trust Deed to the Trustor. Trustee shall reconvey the property without warranty to the person or persons legally entitled thcreto: but if default he made in the payment of said note or any part thereof or any of the interest thereon when due or in the raithful performance of any or cither of said agreements as aforesaid, then the whole of said notc shall become due and be paid as hereinalkr pl\wided. and this deed shall remain in forcc: the Trustee or his attorney may proceed to sell the property in its entirety or in pal\.'els at the option of the Trustee hereinbefore 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 Iirst lile for record. in the ollicc 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 or the Trustor and namcs thercin 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 sctting forth the nature of such breach and of his election to sell or cause to be sold such property to satisfy the obligation; and (2) after the lapse or not less than one month. the Trustce shall give notice of sale as provided by Nebraska law. After notice of default and lapse of not less than one month. thc Trustee shall give written notice of the time and place of sale particularly describing the property to be sold by publication of such notice. at Icast live times. once a week lor live consecutive weeks. the last publi;:ation to be at least 10 days but not more than .10 days prior to the sale. in some newspaper having a geneml circulation in each county in which Ihe property to be sold. or some part thereof. is situated. Upon such sale. the Trustee shall execute and deliver a deed of conveyance of the property sold to the purchaser or purchasers thereof and any statement or recital of fact in such deed in relation to the excrt.'isc of the power of sale and sale of the property described therein. including recitals concerning any mailing. personal dclivery and puhlicatlOn of the notice of t1erault. any mailing and thc publication and posting of notice of sale. and the conduct of sale; and such rental shall constitute prnna I;lcie evidence of such compliancc and conclusivc cvidencc thereof in I;wor of hona lide purchascrs and enctllnhrancers 1(lr value and without 1H1l1ce. The l'rustec\ dccd shall opl'fate In l'onVC) "... ~-- ~ I ,J ~ ~o 110.020 I lIE ORIGINAL