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<br />TRUST DEED
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<br />88-102671
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<br />THIS DEED OF TRUST. made and rntered into this
<br />
<br />20~h
<br />
<br />day of
<br />
<br />lA..y
<br />
<br />.191!!L-
<br />
<br />r
<br />
<br />by and between Allen Scott Helaeson and JOAephi n." Trustor. and
<br />M. Helgeson, Husband and Wife as Joint Tenants
<br />and Securi tv Pacific Financial ServicAA . Beneficiary;
<br />of Iowa Inc.
<br />
<br />First American Title Insurance
<br />company
<br />
<br />. Trustee.
<br />
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<br />WITNESSETH: That the Trustor does by these presents grant, bargain and sell, convey and confirm with Power of Sale unto the
<br />Trustee the following described Real Estate including all buildings. improvements, and fixtures of every kind now or hereafter erected or
<br />placed on the real estate, situated in Hall County, in the State of Nebraska:
<br />
<br />Fractional Lot 1 in Block 11 of Charles Wasmer's Addition to City
<br />of Grand Island and its Compliment to Wit all of Fractional Block
<br />11 of Palmer's Subdivision of Lot No.7 of County Subdivision '
<br />Southeast ~ of Southwest ~, Section 16 in Township 11 North of
<br />Ra~ge 9 Wast of 6th P.M., Hall County, Nebraska.
<br />
<br />and possession of said premises is now delivered unto said Trustee:
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<br />TO HAVE AN D TO HOLD the same, with all rights, privileges, and appurtenances thereto belonging unto the Trustee, his executors.
<br />administrators, heirs, and assigns forever. And the Trustor hereby expressly waives. releases, and relinquishes unto the TruSlee all right,
<br />title. claim, interest, benefit, and estate whatever. in and to the above-described premises and each and every part thereof, which is given
<br />by or results from all laws of the State of Nebraska pertaining to the exemption of homestead. And the Trustor covenants with the Trustee
<br />that he will forever warrant and defend the title to the same against the lawful claims of all persons whomsoever.
<br />
<br />IN TRUST HOWEVER, for the following described purposes: To secure fuii and prompt performance of all the terms and condi-
<br />tions of that
<br />o Revolving Loan Agreement of even date herewith (including particularly. but not exclusively. prompt payment of all sums
<br />which are or may become payable from time to time thereunder) and any extensions. renewals. modifications or refinancings thereof.
<br />which Revolving Loan Agreement obligates Beneficiary, subject to the conditions stated therein, to advance to Trustor up to
<br />,$ , plus finance and other charges, (or)
<br />iii Note of even date herewith, in the principal sum of U.S, $ F;770 Ql> payable in monthly installments of principal
<br />and interest, with the balance of the indebtedness, if not sooner paid, due and payable on ..,,~. 25 . 19..2L.
<br />
<br />It is agreed by and between parties hereto that until filing of Notice of Default, the Trustor shall: ( I) pay all present and future
<br />taxes and assessments. general and special, against said property before the same becomes delinquent or actionable; (2) keep all improve-
<br />ments erected on the land insured as may be required from time to time by beneficiary against loss by fire and other hazards, casualties
<br />and contingencies, in such amounts and for such periods as are reasonable and may be required by beneficiary, and to keep all policies
<br />of such insurance in force or elTect upon the properly herein described constantly assigned and delivered to beneficiary; (3) pay and
<br />comply with all the terms and conditions of any lien, claim or indebtedness that may be senior to or take precedence over this Trust
<br />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
<br />any said agreements, beneficiary may pay such tax, pay for such insurance or payoff such liens or claims or indebtedness as the case
<br />may be, and the money so expended, with interest at 9% per annum. shall be secured b~' this Trust Deed, and the Trustor agrees to repay
<br />the same upon demand. and upon failure to do so the balance of the attached note shall become immediately due and payable at the
<br />option of the beneficiary; (4) specifically confer upon the Trustee the power of sale as provided in Nebmska law; (5) retain possession
<br />of the premises and collect the rents and revenues therefrom.
<br />
<br />Upon payment of all the sums secured by this Trust Deed. the Beneficiary shall request the Trustee to reconvey the property and
<br />shall surrender this Trust Deed and all notes evidencing indebtedness secured by this Trust Deed to the Trustor, Trustee shall reconvey
<br />the property without warranty to the person or persons legally entitled thereto: but if detault be made in the payment of said note or
<br />any part thereof or any of the interest thereon when due or in the faithful perlormance of any or either of said agreements as aforesaid.
<br />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
<br />his attorney may proceed to sell the property in its entirety or in parcels at the option of the Trustee hereinbefore described at public
<br />auction, 10 the Ilighest bidder. for cash. However. the power of sale herein conferred upon the Trustee shall not be exercised umil (I)
<br />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
<br />parcel thereof is situated. a notice of default, identifying the Trustee by stating the names of the Trustor and names therein ;Illd giving
<br />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
<br />for which the trust property was conveyed as security has occurred, and selling forth the naturc of such breach and of his election to
<br />sell (.r CIluse to be sold such property to satisfy the obligation: and cn after the lapse of not less than one month. the Trustee shall give
<br />notice of sale as provided by Nebraska law, After notice of default and lapse of not less than one month. the Trustee shall give written
<br />notice of the time and place "f sd.le particularly describing the property to be sold by publication nf such notice. al leas! liye times.
<br />once" week for five consecutive weeks, the last publication to be al least 10 days hut not more than .\0 da), pnnr III the sah:. in some
<br />newspaper having 11 general circulation in each county in which the property to be sold. or some part therenf. " "llIated, tlpnn slIeh
<br />sale. the Trustee shall execute and deliver II deed of conve~ancr of the property sold to the purchaser or purchascrs thereof aud any
<br />statementllf recitalllf Ihct in such deed in relation tolhc exercise of the power of sale and sale of the prnperty descrihed therci n. mduding
<br />recitals concerning auy mailing. personal delivery and publication nf the notice of default. an~' mailiult :lIld the pubhcaUon and posting
<br />of noUcc or ..ale. aud the conduct of sale; and such recital shall constitute prima faC1e eVidence "f such cOl11pllann' and <,<",elUSIVC c\ldence
<br />!hereof In ravor of bona fide purchasers and encumbmllcers for value :lIul without nollce, 1 he hllS'"e", ,ked ,hall "pem\<' tll <,<'nye)'
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<br />l1l1 in O~'fll ut
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<br />ORIGINAL
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