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86... 101489 WARRANTY DEED RICHARD E. STEPHENS, JR., and BARBARA G. STEPHENS, husband and wife, each in his and her own right and as spouse of the other, herein called the Grantors, for and in consideration of the sum of TEN DOLLARS ($10.00) AND OTHER VALUABLE CONSIDERATION received from Grantee, do grant, bargain, sell, convey and confirm unto FRANK E. GALLUP, herein called the Grantee, the following - described real estate situated in Hall County, Nebraska: Lots One (1), Two (2), Three (3), ?our (4), Five (5) and Six (6), Piccadilly Square Sub- division, an addition to the City of Grand Island, Hall County, Nebraska, except part of Lots (1) and Six (6) deeded in a warranty deed recorded as Document No. 77- 004876 and part of Lot Four (4) deeded in a warranty deed recorded as Document No. 83- 002101. TO HAVE AND TO HOLD the premises above described, together with all the tenements, hereditaments and appurtenances thereunto belonging, unto the said Grantee and to Grantee's heirs and assigns forever. And Grantors hereby covenant with the said Grantee and with Grantee's heirs and assigns, that Grantors are lawfully seized of said premises, that they are free from all liens and encumbrances except liens and encumbrances of record and that Grantors have good right and lawful authority to sell the same; and Grantors hereby covenant to warrant and defend the title to said premises against the lawful claims of all persons claiming the same or any part thereof through, by or under Grantors. Grantors acknowledge that the transfer of the real estate to Grantee is made for the benefit of Grantee and it is the intention of the parties to the Agreement that such transfer will not result in a merger of Grantee's interest and the existing security interest of Grantee in the title conveyed to Grantee by Grantors. This Warranty Deed is given as an absolute conveyance, the Grantors having conveyed said land to the Grantee for a fair and adequate consideration, such consideration being partial satisfaction of principal obligations secured by the Mortgage executed by Grantors to The Overland National Bank of Grand Island, Grand Island, Nebraska, recorded as Document 485- 001039 and assigned to Grantee by Assignment of Mortgage recorded as Document #85- 006017, both of which are recorded in the Office of the Register of Deeds, Hall County, Nebraska. Grantors declare that this conveyance is freely and fairly made consistent with a certain written Agreement between Grantors and Grantee dated December 30, 1985 and that there are no agree- ments, oral or written other than said Agreement and this deed between Grantors and Grantee with respect to said land. Signed this 2 day SZATEMENT AT?AG�ki; V ;ice A DC CS N1AR'i 1 of December, 1985. J/ I 1�� Richard E. Stephens Jr. 1; 'Tarba.ra C,. Stephen' I