|
<br />88-103458
<br />
<br />DEED OF TRUST
<br />
<br />KNOW ALL MEN BY THESE PRESENTS: that WARREN M. BURKE and
<br />MARIA J. BURKE, husband and wife, hereinafter referred to as the
<br />"Trustors", to secure a Note bearing even date herewith for the
<br />principal amount of Fifty-Eight Thousand Five Hundred and No/lOO
<br />Dollars ($58,500.00) payable to the order of HAROLD GREEN, JR.
<br />and DELORES GREEN, husband and wife, as joint tenants with right
<br />of survivorship, hereinafter referred to as the "Beneficiaries",
<br />providing for payment of the entire principal balance, together
<br />with interest at the rate of ten percent (10%) per annum, in
<br />monthly installments of Five Hundred and No/lOO Dollars ($500.00)
<br />each until December 23, 1988, at which time all principal and
<br />interest provided for by this Note shall have been paid, do
<br />hereby grant and convey unto VINCENT L. DOWDING, Attorney at Law,
<br />the "Trustee", the following-described property:
<br />
<br />Lot Thirteen (13), Kentish Hills Subdivision,
<br />Hall County, Nebraska~
<br />
<br />Trustors have the right to extend payments for an additional
<br />three (3) months, but in no event shall the final payment be
<br />extended past March 23, 1989.
<br />
<br />TO HAVE AND TO HOLD the same, together with all appurte-
<br />nances, in trust nevertheless, and in case of default in the
<br />payment of said Note or any part thereof or interest thereon or
<br />in the performance of any covenant hereinafter set forth, then
<br />the Trustee shall have the power to sell the above-described
<br />property, and upon request of the Beneficiaries, the Trustee shall
<br />file for record in the Register of Deeds' Office of Hall County,
<br />Nebraska, a Notice of Default, setting forth that a breach of an
<br />obligation, for which the said property was conveyed as security,
<br />has occurred, and setting forth the nature of such breach and the
<br />Trustee's election to sell the property to satisfy the obliga-
<br />tion~ and after the lapse of not less than one (1) month, the
<br />Trustee shall give written notice of the time and place of sale
<br />which may be between 9:00 a.m. and 5:00 p.m. at the premises, or
<br />at the Hall County Courthouse, and particularly describing the
<br />property to be sold~ said Notice to be published in a newspaper
<br />of a general circulation in Hall County, Nebraska, once a week
<br />for five (5) consecutive weeks, the last publication to be at
<br />least ten (10) days but not more than thirty (30) days prior to
<br />the sale~ and the Trustee shall then sell said property at the
<br />time and place designated in the Notice, in the manner provided
<br />by law in effect at the time of filing said Notice, and public
<br />auction to the highest bidder for cash and shall deliver to such
<br />purchaser a deed to the property sold, consistent with the law in
<br />effect at that time. Additionally, Trustee shall mail Trustors a
<br />copy of any Notice of Default and Notice of Sale hereunder upon
<br />default addressed to them at 3803 Hampton Road, Grand Island,
<br />Nebraska. Out of the proceeds of said sale, the Trustee shall
<br />retain and pay first all fees, charges and costs of sale and all
<br />monies advanced in the exercise of the power of sale, including
<br />the payment of the Trustee's fees actually incurred, and pay
<br />second the obligations secured by this Deed of Trust~ and the
<br />balance, if any, shall be paid to the person or persons legally
<br />entitled thereto. Any person, including the Beneficiaries, may
<br />purchase said property at such sale.
<br />
<br />The Trustors covenant that at the time of delivery of these
<br />presents, they are seized of said property in fee simple, and
<br />that said property is free of encumbrances, except encumbrances,
<br />easements, r1.ghts-of-way, restrictions and reservations of
<br />record, and they will properly maintain the property, keep all
<br />buildings insured for fire and extended coverage in an amount
<br />equal to the unpaid balance of the aforesaid Note, with loss
<br />payable to the Beneficiaries, and will pay all taxes and assess-
<br />
<br />-1-
<br />
|