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14
<br />85-- 003729
<br />DEED OF TRUST
<br />This Deed of Trust is made this �� day of �' .,
<br />by and among ROBERT F. BflEHM and ELYZABETHE L. WE ' 1985,
<br />wife, each in his and her own right and as spouse of the othernd
<br />hereinafter referred to as "Trustor", whose mAiling address is ,
<br />621 W_ Koenig, Grand Island, Nebraska, 68801; Bruce I. Smith,
<br />attorney at law, hereinafter referred to as "Trustee ". h
<br />mailing address is P. O. Box 790, Grand Island, Nebraska, 68802;
<br />and MAR4CARET PAULSEN SCHOEL hereinafter referred to as "Bene-
<br />ficiary', whose mailing address is 3732 Husker Hiway, Grand
<br />Island, Nebraska, 68sol.
<br />For valuable consideration, Trustor irrevocably grants,
<br />transfers, conveys and assigns to Trustee, in trust, with power
<br />Of sale, for the benefit and security of Beneficiary, under and
<br />subject to the terms and conditions of this Deed of Trust, the
<br />to-wit: - described property located in Hall County, Nebraska,
<br />Lot One (1) and the easterly Twelve (12) feet
<br />of Lot Two (2) in Fractional Block Seventeen
<br />(17) in Wasmer's Addition to the City of
<br />Grand Island, Hall County, Nebraska.
<br />FOR THE PURPOSE OF SECURING:
<br />(a) the payment of indebtedness evidenced by
<br />Trustor's note of even date herewith in the principal
<br />sum of Thirteen Thousand and No /100 Dollars
<br />(513,000.00), together with interest at the rate or
<br />rates provided therein, or the principal and interest
<br />on any future advance as evidenced by promissory notes
<br />stating they are secured hereby, and any and all
<br />renewals, modifications and extensions of such notes,
<br />both principal and interest on the notes being payable
<br />in accordance with the terms set forth therein, which
<br />by this reference is hereby made a part hereof;
<br />(b) the performance of each agreement and covenant
<br />of Trustor herein contained; and
<br />may becher after paid or advanced by Beneficiary which
<br />the terms of this Deed of Trust t zy under
<br />thereon at the rate provided in�thenoter with interest
<br />To protect the security of this Deed of Trust, Trustor
<br />hereby covenants and agrees as follows:
<br />1. Payment of Indehtedness. To a
<br />ci 1 of'-- -- pay, when due, the prin-
<br />Pe an the interest on, the indebtedness evidenced by the
<br />note, charges, fees, and all other sums, as provided in the loan
<br />instruments.
<br />2. Title. Trustor is the
<br />the right owner of the property and has
<br />d authority to execute this Deed of Trust in respect
<br />to the property.
<br />3. Taxes and Asssmenta. To pay, when due, all taxes,
<br />special asses ts, an a other char
<br />before the delinquent; -s against the property.,
<br />wall so sequin, to add to t� arad► in the event Beneficiary
<br />rereel her u payments required under the note,
<br />ci, y' such amount as may be sufficient to enable
<br />' to Pay such taxes, assessments, or other charges, as
<br />they become due.
<br />4. Insurance, To keep the improvements n, or hereafter,
<br />lat. on the r l estate described herein insured against
<br />da r
<br />by fire and such other hazards as Beneficia,, may require,
<br />i.n amounts and c Lies acceptable to Beneficiary,
<br />payable to Beneficiary. Tn case of loss under uc.andcwith loss
<br />r�ficiary is authorizer) tca &d Dust, cc,11e ^t and � r Icier,
<br />1 nPr0mise, in
<br />R
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