|
DEED OF TRUST
<br />(Short Form) 87- -101692
<br />KNOW ALL MEN BY THESE PRESENTS: that CECIL LEWIS LYBARGER,
<br />JR. and JANET SUE LYBARGER, husband and wife, hereinafter referred
<br />to as the "Trustors ", to secure a Deed of Trust Note bearing even
<br />date herewith for the principal amount of Eighteen Thousand Five
<br />Hundred and No /100 Dollars ($18,500.00) payable to the order of
<br />DEAN D. LUCAS and ARLENE J. LUCAS, husband and wife, as joint
<br />tenants with right of survivorship, hereinafter referred to as
<br />the "Beneficiaries ", providing for payment of the entire principal
<br />balance, together with interest at the rate of nine percent (9 %)
<br />per annum, in monthly installments of Two Hundred Fifty and
<br />54/100 Dollars ($250.54) each until April 1, 1996, at which time
<br />all principal and interest provided for by this Note shall have
<br />been paid, do hereby grant and convey unto AREND R. BAACK,
<br />!'
<br />s
<br />Attorney at Law, the "Trustee ", the following- described property:
<br />Lots Two (2) and Three (3) of the Subdivision
<br />of Lot Four (4) of the County Subdivision of
<br />Part of the North One -Half (ND of Section
<br />Five (5), in Township Ten (10) North, Range
<br />Ter, (10) West of the Sixth (6th) Principal
<br />Meridian, Hall County, Nebraska.
<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 Deed of Trust Note or any part thereof or interest
<br />`+
<br />-
<br />thereon or in the performance of any covenant hereinafter set
<br />forth, then the Trustee shall have the power to sell the above-
<br />described property, and upon request of the Beneficiaries, the
<br />Trustee shall file for record in the Register of Deeds' Office of
<br />Hall County, Nebraska, a Notice of Default, setting forth that a
<br />breach of an obligation, for which the said property was conveyed
<br />as security, has occurred, and setting forth the nature of such
<br />breach and the Trustee's election to sell the property to satisfy
<br />the obligation; and after the lapse of not less than one (1)
<br />month, the Trustee shall give written notice of the time and
<br />place of sale which may be between 9:GO a.m. and 5:00 p.m. at the
<br />-
<br />premises, or at the Hall County Courthouse, and particularly
<br />describing the property to be sold; said Notice to be published
<br />in a newspaper of a general circulation in Hall County, Nebraska,
<br />once a week for five (5) consecutive weeks, the last publication
<br />-
<br />to be at least ten (10) days but not more than thirty (30) days
<br />prior to the sale; and the Trustee shall then sell said property
<br />at the time and place designated in the Notice, in the manner
<br />provided by law in effect at the time of filing said Notice, and
<br />public auction to the highest bidder for cash and shall deliver
<br />to such purchaser a deed to the property sold, consistent with
<br />the law in effect at that time. Additionally, Trustee shall mail
<br />Trustors a copy of any Notice of Default and Notice of Sale
<br />hereunder upon default addressed to them at P. O. Box 20_, Alda,
<br />Nebraska 68810. Out of the proceeds of said sale, the Trustee
<br />shall retain and pay first all fees, charges and costs of sale
<br />and all monies advanced in the exercise of the power of sale,
<br />_
<br />including the payment of the Trustee's fees actually incurred,
<br />and pay second the obligations secured by this Deed of Trust; and
<br />the balance, if an_v, shall be paid to the person or persons
<br />legally entitled thereto. Any person, including the Benefici-
<br />aries, may purchase said property at such sale.
<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, rights -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 Deed of Trust Note,
<br />with loss payable to the Beneficiaries, and will pay all taxes
<br />"
<br />-1
<br />
|