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<br />TRUST DEED
<br />$7- 10248$
<br />THIS DEED OF TRUST, trade and entered into this 29th day of Apri 1 198L,_
<br />by anti between Michael S. bra and A11 ce M. Gray. Truster, and
<br />s n an eat o n
<br />Wants Trustee,
<br />tad Security Pacific Finance Corporation , Beneficiary;
<br />WITNESSETH: That the Truster does by these presents grant, bargain and sell, convey and confirm with Power of Sale unto the
<br />TM100 the folkmring described Real Estate including a!' HIdings, improvements, and fixtures of every kind now or becealter erected or
<br />pltwmd on cite real estate, situated in na County, in the State of Nebraska:
<br />The South 10 Feet of Lot 87 and all of Lot 86 in Hawthorne Place, City of
<br />Grand Island, Hall County. Nebraska.
<br />and Possession of said premises is now delivered unto said Trustee;
<br />TO HAVE AND 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 Truster hereby expressly waives, releases, and relinquishes unto the Trustee 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 taws of the State of Nebraska pertaining to the exemption of homestead. And the Truster 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 />iN TRUST HOWEVER, for the following described purposes: To secure full and prompt performance of all the terms and condi-
<br />tions of that
<br />❑ Revolving Loan Agreement of even date herewith (including particularly, but not exclusively, prompt payment of all sums
<br />which arc 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 Truster up to
<br />S . Plus finance and other charges. (or)
<br />® Note of even date herewith, in the principal sum of U.S. S6824&,•3Q__ payable in monthly installments of principal
<br />and interest, with the balance of the indebtedness. if not sooner paid, due and payable on May -A 19 91_.
<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 />taaaaes 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 he required by beneficiary, and to keep all policies
<br />of such insurance in force or effect upon the property 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 Truster to keep
<br />any said agreements, beneficiary may pay such tax, pay for such insurance or pay off such liens or claims or indebtedness as the case
<br />may be, and the money so expended, with interest at 9% per annum, shalt be secured by this Trust Deed, and the Truster agrees to repay
<br />the same upon demand, and upon failure to do so the balance of the attached note shalt 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 Nebraska law: (5) retain possession
<br />of the premises and collect the rents and revenues therefrom.
<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 default 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 performance of any or either of said agreements as aforesaid,
<br />that 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 hereinbel'ore described at public
<br />auction, to the highest bidder, for cash. However, the power of safe herein conferred upon the Trustee shall not be exercised until (1)
<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 />panel thaaaf is situated. a notice of default, identifying the Trustee by stating the names of the Trustor and names therein and giving
<br />ere 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 setting forth the nature of such breach and of his election to
<br />sell or tax to be sold such Property to satisfy the obligation; and (2) after the lapse of not less than one month, the Trustee shalt give
<br />80W4 of 11414 06 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 of sale particularty describing the property to he sold by publication of such notice, at least five times,
<br />once a week for five consecutive weeks, the last publication to be at least 10 days but not more than 30 days prior to the safe, in some
<br />newnppper having a general circulation in each county in which the property to he sold. or some part thereof, is situated. Upon such
<br />sale, the Tnutee shall execute and deliver a deed of conveyance of the property sold to the purchaser trr purchasers thereof and any
<br />oW recital of fact in such deed in relation to the exercise of the power of sale and sale of the property described therein, including
<br />raceaat Concerning arty mailing. Personal delivery and publication of the notice of default. any mailing and the publication and posting
<br />of Mice of sale, and the conduct of sak: and such recital shall constitute prima facie evidence of such compliance and conclusive evidence
<br />thereof to lavtw of buts fide Purchasers and encumbrancer% 1br value and without noticc. The 'frustce's decd shall uhelatc au ci�nvec
<br />�t satar aMt
<br />up,-441
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